Have you enjoyed in NIFTY50 analysis?

In NIFTY50 it was suggested to sell from the peak you can see in the chart and from that point nifty has fall nearly 550 point.

Performance Chart

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NIFTY50 analysis with Elliott wave theory:

Corrective Wave 2 is slightly higher than 50%.
They key learning here is Wave 3 important retracement levels as 261.8% at 12050 nearby and 11516 at 227.2%.

Impulsive Wave 3 is extended. When Wave3 is equal to 161.8% or more than it, its called as extended wave 3. In this case, you can see Wave 3 is extended. This is really important, because its decide wave 5. Wave 3 between the 261% to 227.2% ended.

Generally, Wave 4 traveled 38.2% to 50% in most of case. More likely expected fall or Wave 4 can be in rage of 11530-10070 before starting 2021.

Breaking down parallel channel will clear sign of corrective wave4.

Have you enjoyed BANKNIFTY analysis?

BANKNIFTY Performance chart:

Have you remember analysis on BANKNIFTY Chart? If Not, –> Click Here to see

I had mentioned that Bank-nifty already started to look for the 4th Wave.

From Support : 32.8% at 23003=23134 & 50% at 22327, The price can travel for the 5th wave which can be above the 3rd wave.

Our First Target has been achieved by BANKNIFTY. Reversal is ready!!!

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Did You Remember TCS analysis? –> Click here to see

I had mentioned that investors will be more active at that particular time and told to buy and go for longOn TCS  nearly 168 point bounce has come cheers everyone.

Banknifty already started to look for the 4th Wave.

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The 80 points profit…

by keeping today’s high as stop-loss that is 11790
Sell nifty 11780-11773
Target 11700

Bank-nifty already started to look for the 4th Wave.
From Support : 32.8% at 23003=23134 & 50% at 22327, The price can travel for the 5th wave which can be above the 3rd wave.

Basics of Dow theory trading strategy forecasts:

This CALL was given to our subscribers on 20-08-2020 (Our Target reached)

By keeping today’s low as stop-loss @11290, BUY 11310 second buy level 11325 TARGET 11375

Technical reason to buy NIFTY50 has open gap down to fill the gap it will move up, second over all market is bullish, third in a parallel channel nifty has taken support and moving up direction. You can still keep stop loss down and trade, But strictly follow stop-loss.

What is Dow theory?

The Dow theory is a financial theory that says the market is in an up-trend if one of its averages (i.e. industrials or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow Jones Transportation Average (DJTA) is expected to follow suit within a reasonable period of time.

What Is Support?
Support refers to the price level that an asset does not fall below for period of time. An asset’s support level is created by buyers entering the market whenever the asset dips to a lower price. In technical analysis, the simple support level can be charted by drawing a line along the lowest lows for the time period being considered. The support line can be flat or slanted up or down with the overall price trend. Other technical indicators and charting techniques can be used to identify more advanced versions of support.

What Is Resistance?
Resistance, or a resistance level, is the price at which the the price of an asset meets pressure on its way up by the emergence of a growing number of sellers who wish to sell at that price. Resistance levels can be short-lived if new information comes to light that changes the overall market’s attitude toward the asset, or they can be long-lasting. In terms of technical analysis, the simple resistance level can be charted by drawing a line along the highest highs for the time period being considered. Resistance can be contrasted with support.

What is support become become resistance?
When price breaks the resistance and after it will be create a support that same level this situation was called by support become resistance.

What is resistance become support?
When price breaks the support and after it will be create a resistance that same level this situation was called by resistance become support.

How To Read The Support Level On Chart?
Share prices which are subject to recurrent oscillations command the attention of investors at all times. Aiding investors make their move; it is significant for them to read the resistance level on the chart which can bring a chance for them to make a good buy when the prices are balanced to rise higher.

How To Read The Resistance Level On Chart?
In disparity, when the price enters the resistance level, the market is noticeable of traders’ combat with a pressure to sell, when the price of the stock is balanced to fall further, going by its past performance.

Hence, these two factors are important for every investor to base his entry and exit moves in the share market when these determinants go a long way in representing the direction of the price of the stock, whether it will rise or drop.

Chart description:
The Stock has came to its support level in a parallel channel, investor will be more active at this level because of stock level higher high level.

“Buy 2236 or current level by keeping stop-loss 15-25 down and  go for long”.

HDFC Bank Stock analysis, via Elliott wave theory:

After forming a higher-high the stock has made next peak lower Presently if the stock move above 1071 it can be still bullish .
Wave 4 was finish at 942.65, Wave 5 is 0.78% of wave 4. In wave 5 mentioned a sub-wave with roman latter. A is retraced the range at 100% to1.61% of wave 5.
Wave b is 61.8% of wave A .
Wave 4 can not overlap wave 1, but sometime it overlap still follow Elliott wave theory, wave 2 can never exceed the start of wave 1.

Information on Elliott waves trading analysis to read click here