NIFTY Sell below 14719 for targets 14576 and stop-loss 14745
This trade was achieved by us.
Traded Level 14719, Target 14576, Equals to 143 points profit and stop-loss only 26 point. The PROFIT is 10,725 just only in 1 lot size. Our SUBSCRIBERS are earning a good amount of profit.
RELIANCE:
This stock price moving to 2193 and 2235 as target. As per the Daily chart the correction can be 2250-2230.
EW on Daily chart
EW on Weekly chart.
We found that a price is frequent spending more and more time between “Upper-Band” & “Gravitation line”. In other words, a price staying much of time between “Upper-Band” & “Gravitation line”.
Look at the upper-bank has 6 touches.
We are seeing no activities between the lower band and control price. that why we concluded that if price breakdown gravitation line will be confirmation of fall. Yes, you can take profit from this type of trend by using buy at control price and sell at the upper band.
Intraday support 14112, Resistance 14219
INTRADAY traders can short there position for the target of 14118 nearby.
If there will be breakout and price will cross the main resistance level that is 14219 then nifty will be still much bullish as indicators are indicating.
TECHNICAL INDICATORS
Moving Averages – Bullish
Technical Indicator – Bullish
Moving Averages Crossovers – Bullish
Elliot Wave for LT, 5th Wave probability at 1403/1462 by using extensive fib ratio for targets 1300 and abc correction can 1105 nearby.
Watch closely the “W” pattern & Fib Ratio on LT!
The LT is trading in a parallel channel and it is in the middle of trend, technically it can be said that the 5 wave has started and it will end by touching the resistance line due to wave analysis.
Nifty has come to all time high and breaking every time high everyone is talking about the fall in nifty but bulls pull it more strongly to next higher level. Technically the nifty will move still higher level and do price rotation then fall can be expected. The important level to look at is 14094 and the support level is 13668 remember the falling strength is more stronger then the rising strength.
The “Bat pattern” incorporates the 0.886XA retracement, as the defining element in the Potential Reversal.
The B point retracement a 0.50 of the XA leg. The Bat utilizes a minimum 1.618BC projection which is already done.
In addition, Bat pattern is extended a 1.618 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.