Friday, May 26, 2017

Nifty: Sell in June

Current Rally in Nifty seems to be maturing.
Be careful from Next Week/month. Correction toward 9000 can start soon.

Below chart was posted on 23rd May 2017 on my blog

https://niftytechblog.wordpress.com/



https://niftytechblog.wordpress.com/

 

Friday, May 12, 2017

Nifty : Bulls & Bears, Who Rides On What?

"Nifty : Bulls & Bears, Who Rides On What?" Well, the discussion on this issue can be an endless. However, the importance and the very existence of both makes the market more reliable and provides an endless opportunities for both buyers and sellers. And I think there is no doubt about it and everyone agrees on it unanimously.






Above is Nifty's chart on daily time scale, showing move from 6825.80 to 9450.65. I have tried to simplify and put forth my point of views as far as possible and also have put up some notes in chart as well.

Below are some of my observations, that I would like to put forth the readers:

(i) The move from 6825.80 to 8968.70 in Nifty looks to be a leading diagonal formation. A leading diagonal can be wave 1 of impusive run or wave A of corrective pattern A-B-C.

(ii) The total fall in Nifty from 8968.70 to 7893.80 was 50% of its total rise from 6825.80 to 8968.70 in simple A-B-C formation.

(iii) The rise in Nifty, from the low of 7893.80 to 9450.65, looks to be a three waves formation, untill now, whereby, Nifty more or less looks to have finished its upside move with completion of wave v of wave C/3 @ 9450.65.

(iv) Also, the move from 7893.80 to 9450.65 is more than 138.20% of total fall from 8968.70 to 7893.80. So, the possibility of irregular B wave of flat corrective pattern (3-3-5) is ruled out. But, the possibility of wave X cannot be ruled out at this point of time.

(v) Wave C/3, has total rise of 1123.45 points which is almost 2x of wave A/1, which had total rise of 567.25 points.

(vi) Wave i, iii of wave C/3 have total rise of 654.95 points and 413.80 points respectively.
(vii) As wave iii of wave C/3 is shorter than wave i of wave C/3 wave v cannot go/end beyond 9488.95, as third wave cannot be shortest among imulsive wave one, three and five.
(viii) Nifty was closed at 9422.40 having P/E ratio of 23.93.

If 9450.65 is the end point of wave X then market may see downward movement upto or beyond 7893.80. Also, a bearish divergence is visible on MACD oscillator on daily time scale of Nifty's chart. Besides, it is observed that the Nifty might form an Evening star formation if it opens below close of 11th May, 2017 candle and closes near or below the opening price of 10th May, 2017 candle.

Let us see what happens on 12th May, 2017 and what market brings out for the traders & investors.

Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.
Follow Me on:

Beta Trade
Twitter: @beta_trade

Tuesday, May 9, 2017

Sun Pharma : Moving Towards 725?

Sun Pharmaceuticals Ltd has, looking at monthly chart, been witnessing sideways movement in its stock price. The share price has gone more than half making low of 571.90 from its all time high of 1200.80 on NSE.



The stock, however, has been moving in the range of 610-730 after making its low of 571.90, making higher lows and lower highs, one of the characteristics of ending diagonal pattern.

Besides, the stock looks to be taking its support @623.60. The MACD oscillator, on daily time scale, has given positive histogram with MACD line crossing above the signal line. Any price move below 623.60 may be deterrent for the long side position, as the stock might start heading towards making its new low below 571.90.


Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.
Follow Me on:

Beta Trade
Twitter: @beta_trade

Adani Port: Targeting Price Of 400 Or More

The Stock of Adani Port looks to be in the extended wave III, as shown in the chart, if the alternate wave count is correct. The stock is currently trading @347. The stock can see an up move targeting price of 400 or more. However, if the stock moves below the price of 317 then the stock can see further decline up to the price level of and get its support around 275-285.



It shall be noted that the stock is expected to move in the parallel channel drawn.

Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.

betatrade.blogspot.in

Twitter: @beta_trade

SELL IN MAY & STAY AWAY

Hi Friends,

Nifty has been in range of 9270-9370 for last 6-7 trading sessions. Nifty formed an Engulfing Bearish Candle with Negative RSI Divergence on Daily Chart after testing 9377. On next day Nifty formed Inside Day and gave a Doji close. All these are signs of Distribution and Market might be in Process of forming Medium Term Top.


For Detailed Analysis & Chart please visit below link:-

Facebook:


Thanks & Regards,

Harsh Dixit.

Thursday, May 4, 2017

Ending Diagonal Pattern in Bank Nifty can Take it Towards 22496-22625



Please read detailed Elliott Wave Analysis Report of Bank Nifty with Expected movement, targets, Stoploss and Trading Strategies at http://ewanalyst.com/bank-nifty-can-bounce-sharply-towards-22496-22625-because-of-ending-diagonal-pattern/

Sunday, April 23, 2017

My Gann Trades in Crude, Silver, All Ords, Nifty, Infosys, Tata Steel, T...

Silver COMEX and MCX Falling as per WD Gann Time Cycles

Friday, April 14, 2017

MCX Crude Oil to see fall as per Gann Time Cycle Study of April 2017

As per our WD Gann Time Cycle Analysis Crude can fall atleast 10% from the present high of 3,478, the fall is expected to continue for more than a month as per my study. I am watching 3,060 levels in April 2017 Futures, though I have positions in May 2017 Futures .
In the attached youtube Video I have mentioned 2,900 and 2,700 as further targets.

Saturday, April 8, 2017

SELL ON STALL BEFORE THE FALL

Hi Friends,

As mentioned in my Twitter post Nifty formed a Doji with Negative RSI Divergence on Daily Chart after testing 9274. On next day Nifty formed Inside Day and gave a flat close post Rates Unchanged by RBI in Monitory Policy. Nifty finally started declining and closed below 9220. All these are signaling a Shot Term Top in place.

For Detailed Analysis & Chart please visit below link:-

Facebook:

https://www.facebook.com/trendonomics/posts/1038843459582958


Thanks & Regards,

Harsh Dixit.