waves in nifty

RESISTANCE LEVELS


4775- Down slanting red trend line
4815- 50% febbc level of wave 2(i)
4850-4855- Upper trend line of channel
4883 - 61% of febbc level of wave 2(i)

elliott wave count of nifty

No price pattern in chart that's why i prefer elliott wave



Market is moving in small trading range. 
Chart is showing a-b-c correction.
So much less possibility to go up side.
Next level is 4820-4840.

NIFTY 15 MIN CHART

NIFTY 15 MIN CHART

See the chart of nifty. Formation of new price pattern. Right shoulder is developing but right shoulder is so small so that this H&S pattern is some what less effective to reach the target.

Another price pattern can see in the candles of 15 min chart which is showing the flag formation. 

Chart is not showing any buy call as per price pattern.

So have to wait to break the neckline/trend line and confirmation is to break the level of 4683.

TARGET- 4675,4634,4560

Business Line : Markets News : SEBI wants financial literacy to begin at high school

Business Line : Markets News : SEBI wants financial literacy to begin at high school

NIFTY HOURLY

NIFTY HOURLY CHART



 Nifty is moving in channel. Chart is showing both (bearish and bullish) direction of price movement.


BEARISH - See the up slanting neckline in but right shoulder is till not formed. Price have trend line resistance at 4758, if price will respect that trend line then right shoulder will be formed. At that place another one resistance ie 38% level of mejore price move


BULLISH - See the downslanting neckline which having two left shoulders. If price will take support at 4715 and if it will the neckline then price pattern having movement of 70 points up side because of inverted H&S.



TARGET OF BEARISH MOVE- 4671,4655
TARGET OF BULLISH MOVE- 4800,4823

nifty weekly

WEEKLY CHART
There is two H&S in chart.


In FIRST H&S- The neckline is up slanting. Price break the neckline at 5282 and made the new low 4728. Because of double bottom price start up move and retest neckline at 5390.


In SECOND H&S- The neckline is straight. See the candle of this week which is trailing just at neckline.




TARGET OF FIRST H&S- 4250


TARGET OF SECOND H&S- 3300

nifty

New inverse H&S in nifty. target is 4850

nifty

Inverse H&S in hourly chart of nifty. It is also seems break out but 4708 is the 61% of current move. So it can break this level.

And another point in this graph shows the GAP. That gap is still not fill.

if price break the level of 61% ie 4708 then target will be- 4780

If price cover the gap and break these level then target will be-4400

Nifty

See the hourly chart of nifty. H&S formed with break out in a nifty. target is 360 points down side from neckline. tgt- 4350

Bearish view in DLF

                    See in hour chart of DLF. There is H&S in DLF. Price is trailing at neckline. DLF complete the 61% retracement of movement range 252-191 which is 228. pattern target is 175.  Wait for break out

                        See the daily chart of DLF.  You can see the formation of new right shoulder in price pattern. If price break the level of 190 then the farther move will be start. Pattern target is 140-150. There is a confirm pullback will happen after the break the level of 190, because the neckline is straight and oscillators are also some what over sold.

H&S in nifty

INVERSE H&S in nifty. Wait for break out. target is 80 points upside

see the nifty levels

H&S in nifty

H&S in nifty in 5 min chart. price is trailing at neckline wait for to break the neck line. Pattern target is 4660.

NIFTY

See the formation of flag in chart of nifty. Now nifty is taking resistance at 61% level of  range 5316-4630 at 5057. If price break the upper trend line then the price pattern will made inverse H&S pattern. The target inverse H&S pattern is 5274. If price is not break the level then it moves in the range. If price pattern will break the trend line(1) then it is the confirmation of break out and trend line(2) is using for smoothness of price movement break out. Final target of the pattern is 4343.

FLAG IN NIFTY

See the creation of flag pattern in nifty. Volume also good as per the pattern. According to the price movement 5317-4641 the 38% retracement is 4868. if we consider the range of 5228-4641 by considering the reversal points, the 38% retracement is at 4866 which is high as well double top of the day. If price break the channel then the target becomes 4453. 

H&S in nifty. see 5 or 15 min chart

inverse H&S in GOLD

See H&S pattern in chart of GOLD which shows good buy signal. JUST WAIT FOR BREAK OUT

primary trend in nifty

Here in the graph see two H&S in a rapid manner. The first H&S having break out at 5250 which is having target at 4250-4300. The price retest the neck line at 5350 on 3 weeks ago. The pattern makes more strong because of triangle formation with same break out. There is also formation of a new H&S with triangle. Second price pattern having break out at 4700 in down side with a target of  3400-3300. So have to wait for break out.

waves in nifty

Been speaking about a 5 wave decline which for some time was not clear on the hourly chart.

Its been my contention that wave C ended in a triangle at the top and so wave e of C truncated

at 5317. On that basis a clear 5 wave decline ended today on the hourly charts as shown.

Each leg breaks up perfecly into 5 waves internally and chanelling technique discribed

So unless this low breaks we should

have completed wave 1 of 3 down. Wave 2's often retrace a lot upto 61.8% which can 

give us upto 5137

See the FLAG pattern in HOURLY chart of nifty. If resistance takes place at 38% level then the target will be 4820. If resistance takes place at 5092 then target will be 4860