Free Stock, Commodity, Forex Trading Tips & Education Articles

Nifty Outlook: Bull Trend Or Bull Trap?

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free nse nifty stock tips

In my previous post, I have mentioned that nifty can make an upward move before making the last leg. Nifty was at 16999, and it has made a high of 17400 on 31st December 2021.

Click here to read previous article.

Nifty is out of the channel and near to the previous lower high.

If nifty breaks up of 17639, we can expect a big upward move to 18210, which indicates that the correction is complete.

And if it fails to break the parallel channel, we can expect the following targets: 16909-16690-16449-16369, and the price will start wave C of wave (Z).

Please note that the downtrend is below 17639.

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EWT: CADJPY Preparing for 93.84

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free forex cadjpy currency calls

Price has completed the C leg of corrective wave Primary ((4)), and the price will march for impulsive wave ((5)).

Wave Formations:

Wave ((1))

– Leading diagonal
– Formed on extreme low
– Termination sub-wave 5 is smaller than 3

Wave ((2))

– Zigzag
– 50% of wave ((1))
– Ended near the sub-wave 4 of an impulsive wave.

Wave ((3))

– Impulse (Five wave moves)
– Extended 2.618% of wave 1

Wave ((4))

– Running triangle/running flat
– 38.2% of wave ((3))
– Ended above wave (b)

Wave ((5))

– Wave ((1)) was a leading diagonal, so wave ((5)) can’t form as a diagonal. It will be an impulsive wave.
– Wave 3 can end near 161.8% of the 4th wave at 93.492.
– Wave 1= Wave 5 at 93.765
– Wave 5 can complete after touching the parallel channel at 93.849.

We can expect the following targets: 91.46-92.29-93.849

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Will BPCL change the trend by breaking the falling wedge?

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free nse bpcl stock calls

BPCL had broken the uptrend channel and started correcting the previous move.

It has made a falling wedge, which is on the level of 61.8%.

Price will reach 401 and may face minor resistance. But If the price gives a strong close above 401.2, we can see the following targets: 415-439-456-469 and more.

If the price doesn’t make a higher low and breaks 357, it will make a down move of about 340.

Traders can wait for a pullback, and they can enter after the breakout of 401.2.

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NSE Abbott IND – TP 19256 Done

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free commodity tipsClick the below link to read Abbott IND Intraday Tips:
Abbott IND – Santa Rally Time

I had written, “Intraday traders can jump on it for the targets of 19200 – 19256.”.

It has touched all targets. Book Full Profit Now (CMP: 19300+)

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