shadrach.prabhu11

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Markets Allocation
44 % forex 39 % stocks 17 % indices
Top Mentioned Symbols
EURUSD 16% | 3 NIFTY 11% | 2 USDINR 11% | 2 GBPUSD 11% | 2
shadrach.prabhu11 shadrach.prabhu11 JPYINR, 240, Long ,
JPYINR: JpyINR possible pullback for a C wave
24 0 3
JPYINR, 240 Long
JpyINR possible pullback for a C wave

I think we will see a sharp rally here once the lows are retested to complete the C wave of the corrective structure. I would watch for a reversal once the previous lows are retested. Short term up, Long time, Down trend still in tact. There's divergence on the Daily time frame, too

shadrach.prabhu11 shadrach.prabhu11 USDINR, 240, Long ,
USDINR: Deep Pull back coming?
54 2 4
USDINR, 240 Long
Deep Pull back coming?

USD INR made quite a move and the MACD divergence on the 240 suggests we might see a deep pull back, probably to the 382/ 50 FIB to 65.8/ 66.47 levels. I would wait for a break of the trendline and consolidation above the trend line to go long.

shadrach.prabhu11 shadrach.prabhu11 AXISBANK, 60, Long ,
AXISBANK: Possible Move up before the reversal to the downside?
23 0 6
AXISBANK, 60 Long
Possible Move up before the reversal to the downside?

Axis Bank seems to be in a Zig Zag Correction where the last move to the upside is expected to happen tomorrow. There is also a bullish divergence on the MACD. We have just finished the B wave (the 3 wave ABC) after a 5 wave up, which means the next set of 5 sub waves to the upside could happen now, completing the 5-3-5 pattern of the Zig Zag. Short term upside, ...

shadrach.prabhu11 shadrach.prabhu11 BATAINDIA, 60, Short ,
BATAINDIA: Downside for BATA
18 0 5
BATAINDIA, 60 Short
Downside for BATA

I see that Bata made a 5 wave corrective pattern to the upside and an Ending Diagonal in wave 5. It has broken the down trend line and is in consolidation. A break out to the downside from this consolidation would mean Bata will go down to atleast 490 levels.

shadrach.prabhu11 shadrach.prabhu11 ASHOKLEY, D, Long ,
ASHOKLEY: Possible Next Big Move?
58 0 6
ASHOKLEY, D Long
Possible Next Big Move?

Seems like Ashok Leyland has done a good 5 wave correction and is beginning to break out to test the top trend line of the channel it seems to be in, @ 140. Its also the 127% FIBs.

shadrach.prabhu11 shadrach.prabhu11 VOLTAS, D, Short ,
VOLTAS: Voltas In Possible Ending Diagonal
42 0 5
VOLTAS, D Short
Voltas In Possible Ending Diagonal

Voltas is probably in the last wave of the Ending Diagonal which means there could be a reversal/ deep correction very soon. It may hit 444 and then start its correction to the downside. If holding Long positions, moving the stop tight seems to be good idea. Fresh short position could be initiated once the upward channel is broken.

shadrach.prabhu11 shadrach.prabhu11 BANKNIFTY, D, Short ,
BANKNIFTY: Correction Due For bank nifty
127 0 6
BANKNIFTY, D Short
Correction Due For bank nifty

A simple view of the chart tells me we are waiting for a correction to happen before the next big move up. Short term, Short.

shadrach.prabhu11 shadrach.prabhu11 DISHTV, 60, Short ,
DISHTV: More downside for Dish TV?
18 0 5
DISHTV, 60 Short
More downside for Dish TV?

I think Dish TV made a Running flat and it will mostly consolidate and when that consolidation isdone, we can expect the next big move down.

shadrach.prabhu11 shadrach.prabhu11 USDINR, 240, Short ,
USDINR: Corrective Upside for the next move down
35 0 5
USDINR, 240 Short
Corrective Upside for the next move down

USDINR is currently in a channel moving up, however I think its only a consolidation and if that channel is broken to the downside, we may see it go down to 62.899 levels. If it breaks up and breaks out of the 240 trend line, then it will be a deeper pullback, however I dont think thats happening now anytime soon.

shadrach.prabhu11 shadrach.prabhu11 SBIN, 15, Long ,
SBIN: Upside Move for State Bank of India
32 0 4
SBIN, 15 Long
Upside Move for State Bank of India

We are still in the corrective pattern however we did finish a 3 wave ABC pattern to make the next move up. This is possibly a D wave which means we will get another wave E that will go below the current lows or if there is a breakout from the top trend line, we can see another impulse to the upside.Either ways, this move is to the upside, I would be cautious as ...

shadrach.prabhu11 shadrach.prabhu11 BHARTIARTL, 15, Long ,
BHARTIARTL: Corrective Up side for Airtel?
27 0 4
BHARTIARTL, 15 Long
Corrective Up side for Airtel?

We might have just completed a Flat on a lower degree, waiting to make a flat on a higher degree. I am looking for a move up to the 127.2% at 359 if the price moves above 343. stop loss would be 332. Watch out for the possibility of a smaller wave as we can always see a running flat where the C never travels the full distance. Also notice the bullish divergence ...

shadrach.prabhu11 shadrach.prabhu11 NIFTY, 15, Long ,
NIFTY: More upside for Nifty?
123 0 4
NIFTY, 15 Long
More upside for Nifty?

Nifty- Bullish Hidden Divergence seen and we have and a break out from a possible 5 wave corrective pattern. I guess we will see some upside tomorrow and if the upper trend line is broken, followed by a consolidation above that trend line, we might even see the 127 hit at 9345.

shadrach.prabhu11 shadrach.prabhu11 NIFTY, W, Short ,
NIFTY: Nifty in Monthly Corrective Structure
251 3 5
NIFTY, W Short
Nifty in Monthly Corrective Structure

This weekly chart shows a bearish divergence. We probably might get a retest of the previos lows before Nifty makes it upward move.

shadrach.prabhu11 shadrach.prabhu11 GBPUSD, 60, Short ,
GBPUSD: GBPUSD  Bearish Gartley Formation
64 0 4
GBPUSD, 60 Short
GBPUSD Bearish Gartley Formation

GBPUSD can be 'shorted' @ 1.2318 levels. Its near a structure resistance level and RSI is entering the overbought range.

shadrach.prabhu11 shadrach.prabhu11 GBPUSD, 30, Long ,
GBPUSD: GBP USD potential Bullish Gartley Pattern
66 0 2
GBPUSD, 30 Long
GBP USD potential Bullish Gartley Pattern

GBP USD potential Bullish Gartley Pattern waiting for completion

shadrach.prabhu11 shadrach.prabhu11 EURUSD, 30, Long ,
EURUSD: Potentail Bullish butterfly *if* price reaches 1.11792
53 0 2
EURUSD, 30 Long
Potentail Bullish butterfly *if* price reaches 1.11792

The level 1.11792 has served as resistance earlier, now if price reaches that level it should be support. A potential bullish butterfly if price indeed tests that level.

shadrach.prabhu11 shadrach.prabhu11 EURUSD, 15, Short ,
EURUSD: Bearish Gartley setting up on 15 min
67 0 2
EURUSD, 15 Short
Bearish Gartley setting up on 15 min

A deep potential Gartley pattern seems to be setting up on the EUR/USD. 1.12517 levels have been support earlier and have been tested multiple times as resistance and it held. If tested again, the level should hold again as resistance again.

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