Disclaimer: These posts are meant for education purpose only. Do your own due diligence for buy/sell decisions.
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…
I have been following CIGNITITEC since it did a clean 5 wave impulse since May 2022 lows. After the impulse, it did a retracement which completed near previous degree 4th wave in November 2022. From that point, it again did a clean 5 wave impulse up, which I think is just the wave 1 or…
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….
JPASSOCIAT has broken out from a falling wedge with good volumes. Falling wedges are typically bullish in nature and this wedge has been in formation since more than an year now. Longer the timeframe, larger the moves. There might be pullbacks but if we go by classic TA the size of this move that has…
In weekly chart of Deepak Nitrite (DEEPAKNTR), we can clearly see a bullish falling wedge pattern. There had been a breakout followed by a retest. We got a positive close this week with a strong 8% weekly rise in a weak market. As per classic TA, the size of the up move should be at…