Here is the daily chart of NSE:NIFTY which has started showing some signs of weakness. Firstly, you can see a head and shoulders at the top with neckline in blue. Neckline has been broken down. Head and shoulders (H&S) is a classic reversal pattern which is good at capturing tops and bottoms. This could be…
I haven’t posted any charts in a while but today I saw this chart and couldn’t stop myself from sharing it since it looks nearly textbook. H&S (head and shoulder) is essentially a reversal pattern where the prevailing trends reverses after formation of it. In this case, WIPRO has been in downtrend since nearly 2…
Tempting H&S breakdown and retest with high probability EW down impulse development is seen in NSE:ICICIPRULI. Right shoulder fell in 5 waves which is marked as 1/A (either 1 of 1-2-3-4-5 OR A of A-B-C) down followed by a clean 3 wave ABC rise marked as 2/B. Now we are in 3/C down and seem…
In December, I posted a H&S update in daily chart of NSE:CROMPTON and that worked quite well. I estimated a target below 300 and it’s now trading at 254. Zooming out, a much bigger H&S is visible in weekly chart of CROMPTON as shown in attached chart. It broke down last week with a large…
Friday’s fall of Adani group stocks post Hindenburg report was extraordinary. Adani group stocks have been the favorites of Indian stock traders as they rose in multiple of 100s and even 1000x in just a span of few years. Here is how Adani group stocks looked yesterday (nearly all of them in lower circuit). Twitter…
This post is purely for education purpose to depict one of the most well known chart pattern, head & shoulders (H&S) in action. Weekly chart of Tesla shows a textbook H&S formation which broken down from neckline during end of October this year. As per classic TA (technical analysis), we measure the height of head…
Apple has formed a bearish head and shoulder pattern clearly visible in weekly timeframe. Right shoulder has fallen in 5 waves as you can see in the chart. And the stock seem to have completed zigzag ABC correction. 5 waves impulse down in a confluence that this H&S might break down. As per EW counts,…
Update [16th Dec]: Today the stock closed below H&S neckline. However the 5 waves seem clear now, which means a pullback maybe on cards. Crompton Greaves (NSE:CROMPTON) has formed a nice H&S pattern. Right shoulder seem complete and price is testing the neckline. So far, there is no breakdown and volume activity is also missing….
As per the invalidation level specific in the previous update, counts I mentioned earlier are not valid anymore. Now I am recounting the waves from a new reference point, which is the swing high of 114.778, made on 28th September this year. We are still in corrective mode as per our previous updates but the…
Crypto charts are always exciting to see. Never a dull moment 😇 Dogecoin has been in news due to Elon Musk’s acquisition of Twitter and implications of Dogecoin getting integrated with the platform. This has given a significant rise to Doge in past few days. In fact, it nearly doubled in a single day once…