Event of the Financial Budget is round the corner. Let's check out the Technical Probabilities as of now.
1.
2.
3.
Conclusions :
The Trend in Larger Time Frame is firmly up.
7840-60 may be immediate Resistance zone in the Short term. Close below last session low of 7660 may be a bearish signal trading this week.
Close above the resistance zone and follow up of it may lead to Target of apprx 8100 and above
Break of Lower Trendline and 20 dma may confirm Positional Bearish bias in short term.
Technical Watch :
A Bullish Pattern of Inverted Head & Shoulders had achieved it's target at 7700 earlier.
4 comments:
dear aarvee,
excellent technical insight, no equity analyst gives such crisp unbiased insight. they don't give probabilities, just trending analysis which may cause severe losses. is it that they do not understand technical analysis or they just want to fool people. where did you learn technical analysis, I really wonder. I also hope that the fundamental insights that I have been sharing have worked. when everyone is so bullish all around the world, with easy money being withdrawn, it is time for concern and introspection. though I strongly believe in india story, the markets may become volatile in medium term though the short term remains bullish.
@anonymous@V,
Tx for appreciation.Hope it helps
Do keep sharing your perspective.
Regards
sub wave ii of 3 starts at 6638 not 6338.
3 has ended now at 7809 and we are retracing move from 6638 to 7809....
your update?
Pankaj Shah
@Pankaj Shah
# 6338 is a rounded off level for end of subwave II .
# The subwave III of 3rd may or may not have ended at 7809.
# It may be III of 3rd extending and within it a corrective from 7700 to 7422 (a minor ivth in irregular flat pattern ) may have been done and a new impulse probably started from 7422 onwards.(vth of III)
# If so, a likely target may be near apprx 7900 in the short term if the low of last session at 7595 holds.
~ Will post detailed charts if this probability holds true.
>>> If breaks 7595 now then it may be a continuation of corrective from 7809 in IVth subwave the pattern of which may test 7422 and further below
Regards
Post a Comment