Support and Resistance on Stock Charts

Why Many Traders Don't Improve Rapidly After a Few Months

Nifty

#nifty

After Upper Trend-line  breakout  nifty started to advance,but how long Trend will remain up?

Nifty

Nifty elliott wave

Nifty

#nifty #elliottwave

#Gold

Gold sell or buy ??? 

Gold

elliott wave update

    every one knows 5 waves are over in nifty. but most important is the next trend identification.

>>> Click on chart to enlarge it.<<<

Trading with chart

"Chart analysis (also called technical analysis) is the study of market action, using price charts, to forecast future price direction. The cornerstone of the technical philosophy is the belief that all factors that influence market price - fundamental information, political events, natural disasters, and psychological factors - are quickly discounted in market activity. In other words, the impact of these external factors will quickly show up in some form of price movement, either up or down."

Bank nifty

Bank Nifty

After Flat pattern Bank Nifty moved higher than previous high.
any movement below wave c will confirm decline and sideways market move(s).

#banknifty elliott wave count

Bank nifty still impulse left.
 Above wave counting on 5 min chart.
trend is up in bank nifty............

cnx it elliott wave update

cnx it index show clear path of decline in future.
movement will soon change the shape of cnx it index.
wave 4 will end soon and trend will remain continue for wave 5 down.

nifty wave count

Turkey elliott wave update

Nifty Wave Count

Nifty Elliott wave count

>>> click on chart to enlarge it.<<<

Cnx Psu Bank (India)

Cnx psu bank index (India) update.

Psu Bank Index shows clearly 5 wave decline.

current trend of psu bank index is up in a-b-c or alternative (motive wave in one larger degree wave count)

wave ii is sharp and wave iv is triangle. and completing degree of wave in 5 wave sequence .

   

Bank Nifty Elliott Wave Update

Bank nifty has clearly moved in 5 wave sequence (motive wave).followed by three corrective wave which is currently in progress.most probably it could be zigzag. other probability flat variation.

Bank nifty Elliott Wave Count

Bank nifty ended with Five Wave Decline.New trend to watch out.

in above chart wave (ii)  is Flat and wave (iv) is sharp Zigzag .

and wave V truncated. new wave to watch in a-b-c and with alternative of 1-2-3-4-5. 

what will happen when trader use different average and setting.

see the difference between macd setting with different average.and accordingly see the change in buying and selling signals.

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Nifty vs Banknifty

Banknifty

Banknifty almost retraced  61.8% compare to nifty.

and Nifty retraced only 38.2% of impulse.

Advance of next rally will Hit new high in nifty early as compared to Banknifty.

  

                                                                              Nifty

Nifty Elliott Wave

Elliott wave setup is set for next trend.
We have clear 5 wave up (motive wave) and followed by 3 corrective wave (a-b-c).
Wave b at 6063 shows clear breakout and confirming next wave up in 5 wave.
Invalidation to our wave count  at 6030.
probability of flat variation in alternative wave count for counter trend.(Invalidation to next wave degree at 5984).Refer last post and continue reading above wave notes.

* no alternative wave has been displayed only after invalidation point.

Nifty Elliott Wave

Preferred Wave Count- A-B-C (zigzag).After completing zigzag wave 5 of 5 (in one large degree of wave count) Truncated. current wave count  Invalidation below 5984.
Current trend up

*no alternative count has been displayed only after invalidation point.