Bajaj Finance has already formed a descending triangle
It has break its triangle in up-direction and now this stock is following an up-direction.
You can see in the chart I have mentioned “continues up-move”
after every continues up move, the stock always form a small triangle and there is a price rotation.
The stock has taken perfectly it’s support every-time.
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The stock is trading near the support of curve line.
It has already formed a M-top pattern that is double top.
The stock is trading in between 100 and 90 price.
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On INFY there is a perfect channel is formed. The stock is revolving between the channel.
Price is currently near the control line. It is expected to move from the current level to 752 price point, that is till B point.
Below 723 price can be bearish.
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The stock is following Long move downwards.
Head and shoulder pattern is formed between 8 Feb 2019 to 14 jun 2019, 82 bars.
After the pattern formed there was 61 point reversal that is from 167 price slop down to 106.
TATAMOTORS followed with rounded top and there was a continues fall that is stock has reversed from 202 to 63 equal to 139 point reversal.
Now TATAMOTORS is forming a disjoint channel 23 mar 2020 till now
There is increase in volume fluctuation.
Support near 93.50
Below 87.32 bearish
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Disjoint channel:
Channels are used broadly by technical traders to identify and follow the trends of securities over time.
channel is one such charting pattern that technical analysts will use to evaluate the trend of a security.
In general, channels can be used to pinpoint optimal support and resistance levels to buy or sell securities.
Head and Shoulder:
In technical analysis , a head and shoulder pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal.
The head and shoulder pattern is believed to be one of the most reliable trend reversal patterns.
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We had provided this call to our subscribers.
Sell Nifty fut 10448-10459 and stoploss 10496 targets 10378-10121.
They have enjoyed this call
The wave A and B in both sets parallel channel and Wave C will be set of next 5th Wave.
Elliott’s cycle of the 5th Wave is under-construction. 3rd wave was extensive in price and after it, Two Sets of AB and C with slanting parallel channel.
-> Bottom Out: You have figured out that Wave 4 would normally retrace 0.618% of Wave 3.
Wave Personality : I won’t expect 5th too much extensive than 3rd wave that why A, B, and C cycle fall projected in the chart.
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———-One DAY chart———-
A continued move towards up-direction from level 288 to 818.
Main Resistance level is 830
From the current level, price will be attracted near 769 price, and continue to follow the price up-to 842.