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For Historical analyses of Nifty50 index and stocks click here.
7/29/2020
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7/25/2020
Adani Port & Special Economic Zone Ltd (Adaniport - Nifty) - Choppy price action
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) has completed impulse cycle at last swing high and now correcting down in ABC zigzag, where A impulse down is about to end as divergence already occur, so next possible move will be B wave up, which probably ends nears 330 level.
Axis Bank Ltd (Axisbank - Nifty) - Choppy to bearish price action
Axis Bank Ltd (Axisbank - NSE) is in choppy price action as WXY complex corrective pattern. It is in a subwave of Y down, which is abou to over and thereafter b wave will go up. Stay bearish when it b wave ends.
Bajaj Auto Ltd (Bajajauto - Nifty) - Choppy to bearish price action
Bajaj Auto Ltd (Bajajauto - NSE) has completed corrective double zigzag WXY upside. It is in abc flat correction. Stay bearish below 3051 for target zone of 2910.
Bajaj Finance Ltd (Bajajfin - Nifty) - Bearish to choppy price action
Bajaj Finance Ltd (Bajajfin - NSE) has completed impulse of C wave in ABC zigzag cycle and moving down in abc cycle. It is n b wave which can be flat or triangle, so stay bearish for c wave of target of 3100 or lower. The fall in a wave was supported with high volume.
Bharat Petroleum Corp Ltd (BPCL - Nifty) - Bullish price action
Bharat Petroleum Corp Ltd (BPCL - NSE) is within 4th wave complex correction as WXY of C wave up, so stay bullish when it gets finished for the target of new high.
Bajaj Finserv Ltd (Bajajfinsv - Nifty) - choppy to bearish price action
Bajaj Finserv Ltd (Bajajfinsv - NSE) has completed 5 wave cycle as indicated in chart. It stay bearish with stop loss above 6458 and possibly price to go down below 6068 below wave 4 very easily.
Britannia Industries Ltd (Britannia - Nifty) - choppy to bearish price action
Britannia Industries Ltd (Britannia - NSE) has completed 3rd wave cycle in impulse and started correcting down in ABC zigzag. So wait for B to over to sell for C down.
Bharti Airtel Ltd (Bhartiartl - Nifty) - choppy or trendy - what’s next ?
Bharti Airtel Ltd (Bhartiartl - NSE) is in choppy price action, where (W)(X)(Y) corrective cycle is in progress. So stay bearish when it bounces up.
Bharti Infratel Ltd (Infratel - Nifty) - choppy or bullish - what’s next ?
Bharti Infratel Ltd (Infratel - NSE) has completed WXY correction. It is now in abc correction and possible c wave will be choppy to up, but count is not very confident as it has more alternatives for both direction either up or down. So stay back until clear path.
Eicher Motors Ltd (Eichermot - Nifty) - Bullish or choppy - what’s next ?
Eicher Motors Ltd (Eichermot - Nifty) is about to end 5th of 5th soon, with good divergence, so stay bearish when it done. Possible gap up can end the cycle. Stay bearish for target zone of 18400 or lower.
Hcl Technologies Ltd (Hcltech - Nifty) - How much bullish from current level ?
Hcl Technologies Ltd (Hcltech - Nifty) is in extended 5th wave, where 5th of 5th wave is in progress and will go more higher before end the cycle, so keep eye in 10 min time frame to track the micro waves.
Housing Development Finance Corporation Ltd (HDFC - Nifty) - Choppy or bearish - what’s next ?
Housing Development Finance Corporation Ltd (HDFC - Nifty) is complex correction WXY after ABC correction. Stay bearish with stop loss above 1911 for target of 1750 or lower.
HDFC Bank Ltd (Hdfcbank - Nifty) - choppy or trendy - what’s next ?
HDFC Bank Ltd (Hdfcbank - Nifty) is in correction after ABC zigzag finished. The correction is under progress, so stay bearish near 1130-45 zone for downside 1060 or lower as target with stop loss above 1157.
Hero MotoCorp Ltd (Heromotoco - Nifty) - Choppy or trendy - what’s next ?
Hero MotoCorp Ltd (Heromotoco - Nifty) has completed impulse of C in ABC cycle and now correcting down. It has two wave option, so below 2795 price is in ABC zigzag, but above this level it can form wxy correction. So stay bearish according to price movement.
Hindalco Industries Ltd (Hindalco - Nifty) - bearish price action
Hindalco Industries Ltd (Hindalco - Nifty) has completed impulse cycle in 2 hr time chart. It is then correcting it downside in WXY correction, where Y down is in progress as abc. Wave 2nd of c is in progress, so stay bearish below 162.40 as stop loss for target below 145 level.
Hindustan Unilever Ltd (Hindunilvr - Nifty) - Choppy to bearish price action
Hindustan Unilever Ltd (Hindunilvr - Nifty) has completed wave A drop and correcting up in B wave as abc cycle, so stay bearish when it get finished around 2260-2300 range for C wave down of target zone 2100 or lower. Keep eye in 5 min time frame to track the micro waves for B wave.
ICICI Bank Ltd (Icicibank - Nifty) - choppy to bearish price action
ICICI Bank Ltd (Icicibank - NSE) has completed ABC zigzag, where B wave was complex WXY correction. So next will be bearish price action. Monday will be big gap as earning call. So let’s see how it moves.
Indian Oil Corporation Ltd (IOC - Nifty) - Bulls taking control
Indian Oil Corporation Ltd (IOC - Nifty) has completed 1st wave of C cycle up in ABC zigzag mentioned in earlier updates. It is in 2nd wave correction as abc, so can be good sell when b over for c down of 2nd wave. Thereafter 3rd wave will be again good buying opportunity for trade wave C.
IndusInd Bank Ltd (Indusindbk - Nifty) - Choppy price action
IndusInd Bank Ltd (Indusindbk - NSE) is in WXY, where X wave in C wave up is in progress, so stay bearish when it gets finished for Y wave down.
Infosys Ltd (Infy - Nifty) - Bulls taking control back
Infosys Ltd (Infy - Nifty) is in 4th wave correction of impulse cycle in C wave. It is in either triangle or complex correction, so wait for it confirm the sequence. Stay bullish for 5th wave of C wave.
Larsen & Toubro Ltd (LT - Nifty) - choppy price action
Larsen & Toubro Ltd (LT - NSE) is in C wave of Y cycle in (Y) wave. It is under performing.
Mahindra & Mahindra Ltd (M&M - Nifty) - Bulls with tight grip
Mahindra & Mahindra Ltd (M&M - NSE) has completed 5th wave in impulse cycle. Now it is in correcting zone. Stay bearish for C down.
Reliance Industries Ltd (Reliance - Nifty) - Bulls in complete control
Reliance Industries Ltd (Reliance - NSE) is in 5th of 3rd wave up, which might be about to finish, thereafter 4th wave will start correcting the move.
Vedanta Ltd (VEDL - Nifty) - Bullish or choppy - what’s next ?
Vedanta Ltd (VEDL - Nifty) has completed 5th wave of impulse cycle. Therefore next cycle will be corrective down, which might be simple or complex. Stay bearish from current level for target zone of 104 or even lower.
Amara Raja Batteries Ltd (AMARAJABAT - Nifty) - Bulls about to lose control
Amara Raja Batteries Ltd (AMARAJABAT - NSE) is in WXY correction after impulse over since last Corona low. It has completed W and X wave and Y wave is in progress as ABC. Wave C is in progress, so stay bearish with stop loss above 716.65 for target zone of 660 or lower.
Godrej Industries Ltd (Godrejind - Nifty) Bearish price action
Godrej Industries Ltd (Godrejind - Nifty) is in WXY complex double zigzag correction after impulse cycle over as indicated in chart. So stay bearish with stop loss above 377.05 for target of 340-320 zone. Enter in trade when found pull back in 5 min chart.
Balkrishna Industries Ltd (Balkrisind - Nifty) - Bearish price action
Balkrishna Industries Ltd (Balkrisind - Nifty) is in ABC zigzag cycle as correction after impulse cycle over since Corona low. Sell it with stops above 1292 for target of C in range of 1180 or lower.
7/19/2020
Nifty50 (Nifty - NSE) - Bulls in control
Nifty50 (Nifty - NSE) is in 5th wave of C wave up as mentioned in previous updates, so stay bullish above invalidation level as 4th wave low.
Nifty midcap50 (Niftymidcap50 - NSE) - Bulls in control
Nifty midcap50 (Niftymidcap50 - NSE) is in 5th wave of C wave up as mentioned in previous updates, so stay bullish above invalidation level as 4th wave low. It is more clear count than Nifty. 2nd subwave will probably go dip down.
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) - Choppy price action
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) has completed impulse cycle and now correcting in WXY correction, so choppy price action expected, trade divergence both the side.
Asian Paints Ltd (Asianpaint - NSE) - Choppy or trendy - what’s next ?
Asian Paints Ltd (Asianpaint - NSE) is in 2nd subwave of C of Y wave down. It is in c of 2nd subwave up. This structures is overall choppy so better to trade divergence when c over to sell.
Axis Bank Ltd (Axisbank - NSE) - Choppy price action
Axis Bank Ltd (Axisbank - NSE) is in choppy price action as WXY complex corrective pattern. It is in b wave of Y down. Stay bearish when it ends.
Bajaj Auto Ltd (Bajajauto - NSE) - Choppy to bullish price action
Bajaj Auto Ltd (Bajajauto - NSE) is in corrective cycle upside in c wave as the part of abc in X wave up.
Bajaj Finance Ltd (Bajajfin - NSE) - Bullish price action
Bajaj Finance Ltd (Bajajfin - NSE) is in 5th subwave of C wave up, stay bullish above 3104 for target above 3500 or higher, if price dips around 3190-3210.
Bajaj Finserv Ltd (Bajajfinsv - NSE) - choppy to bullish price action
Bajaj Finserv Ltd (Bajajfinsv - NSE) has completed ABC sequence up and now correcting in WXY, where X wave up as abc cycle is in progress. Stay bullish at around 6200 level with stop loss below 6067 for target of 6600-6700 zone. Alternatively it can be 5th wave up in 4 hr time frame.
Britannia Industries Ltd (Britannia - NSE) - Bulls in charge
Britannia Industries Ltd (Britannia - NSE) it has completed impulse cycle up and now correcting down. If gaps up then can be good sell as volume capitulates on 5th wave candle with stop loss above 3936. Below 3690 it is choppy to bearish only. If price crosses above 3936, then it means it start extending 5th wave, then stay bullish.
Bharti Airtel Ltd (Bhartiartl - NSE) - choppy or trendy - what’s next ?
Bharti Airtel Ltd (Bhartiartl - NSE) is in choppy price action, where (W)(X)(Y) corrective cycle is in progress. (Y) wave down is in progress as WXY where X wave correction is in progress. Stay bearish when it over.
Bharti Infratel Ltd (Infratel - NSE) - choppy or bullish - what’s next ?
Bharti Infratel Ltd (Infratel - NSE) has completed WXY cycle as expected previously, now price is in ABC up move as correction.
Eicher Motors Ltd (Eichermot - NSE) - Bullish or choppy - what’s next ?
Eicher Motors Ltd (Eichermot - NSE) is in corrective mode, where W has over of (X) cycle. X of (X) will be in progress now.
HDFC Bank Ltd (Hdfcbank - NSE) - choppy or trendy - what’s next ?
HDFC Bank Ltd (Hdfcbank - NSE) is about to end A wave, thereafter B wave down will start going down. Stay bullish when it over.
Grasim industries Ltd (Grasim - NSE) - choppy price action
Grasim industries Ltd (Grasim - NSE) has completed WXY choppy price action, wait till next waves unfold the next direction.
Hcl Technologies Ltd (Hcltech - NSE) - Bearish or bullish - what’s next price action ?
Hcl Technologies Ltd (Hcltech - NSE) has completed 5 wave up side and start correcting down side. So stay bearish with high as stop loss 652. Sell when (B) wave ends the simple abc correction.
Hero MotoCorp Ltd (Heromotoco - NSE) - Choppy or trendy - what’s next ?
Hero MotoCorp Ltd (Heromotoco - NSE) has completed 4th wave as ABC correction and now it is in 5th wave up, stay bullish for new high.
Housing Development Finance Corporation Ltd (HDFC - NSE) - Bullish or bearish - what’s next ?
Housing Development Finance Corporation Ltd (HDFC - NSE) is in ABC zigzag down where A wave has been ended in impulse, while B wave is in progress.
ICICI Bank Ltd (Icicibank - NSE) - choppy price action
ICICI Bank Ltd (Icicibank - NSE) is in choppy price action as abc up move after completing WXY correction.
Indian Oil Corporation Ltd (IOC - NSE) - Choppy or trendy - what’s next ?
Indian Oil Corporation Ltd (IOC - NSE) has completed (B) wave in complex correction as WXY. It is just started (C) wave up, so stay bullish with stop loss below 82.50 when it dip down for wave 2.
IndusInd Bank Ltd (Indusindbk - NSE) - Choppy price action
IndusInd Bank Ltd (Indusindbk - NSE) is in WXY, where W and X waves ended, while Y is in progress. It is in choppy price action, but flat ABC expected to be in down direction.
ITC Ltd (ITC - NSE) - choppy bearish price action
ITC Ltd (ITC - NSE) is in C wave down of Y wave, where 3rd wave is in progress, stay bearish with stop loss above 200.10.
Larsen & Toubro Ltd (LT - NSE) - choppy price action
Larsen & Toubro Ltd (LT - NSE) has completed WXY correction and now moving up as ABC, stay bullish.
Mahindra & Mahindra Ltd (M&M - NSE) - Bulls with tight grip
Mahindra & Mahindra Ltd (M&M - NSE) is in 5th subwave of 5th wave up as expected in previous updates. One more high after little pull back will probably ends the impulse unless it further not extends.
Reliance Industries Ltd (Reliance - NSE) - choppy or bullish - what’s next ?
Reliance Industries Ltd (Reliance - NSE) has completed impulse cycle up side, so corrective ABC cycle is in progress.
7/12/2020
Nifty50 (Nifty - NSE) - Choppy or bullish - What’s next ?
Nifty50 (Nifty - NSE) is in 4th internal wave of 5th subwave of 3rd wave, which end soon and then 5th subwave will end with new high. The 3rd wave is the part of C wave within ABC zigzag pattern. 5th subwave of 3rd will make new high at that time huge indicator divergence will be there, so it should reversed faster down to correct it again in wave 4 of C wave. Trade can b possible in both the direction.
Nifty midcap50 (Niftymidcap50 - NSE) - Choppy or bullish - What’s next ?
Nifty50 (Nifty - NSE) is within 4th wave correction as the part of C wave in ABC zigzag up move (or it may turn out as 3rd wave of Impulse sequence other than ABC count). 2nd wave in C was irregular flat, so 4th can be complex or triangle wave. Wait for it to over to get in to 5th wave up. The possible price movement is choppy, means at new high it can be good sell as well within wave 4 of C. 
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) - Choppy or bullish - what’s next ?
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) is within 4th wave correction and take little time to end, thereafter 5th wave will start, so stay bullish as market direction also bullish for one more high after 1-2 trading session. It has positive divergence on oscillator, so price will bounce possibly, means choppy price action for one-two days.
Asian Paints Ltd (Asianpaint - NSE) - Choppy or trendy - what’s next ?
Asian Paints Ltd (Asianpaint - NSE) is in 3rd wave of C down as the part of Y wave down in WXY complex correction. It is under-performing the market. It is in 2nd subwave of 3rd wave down, which will proceed for c up to complete subwave 2. Thereafter sell for 3rd subwave of 3rd wave down, which probably should the sharp downfall the cycle with stop loss above 1762 for target one of 1560 level for 3rd wave, where price can find support.
Axis Bank Ltd (Axisbank - NSE) - Choppy price action
Axis Bank Ltd (Axisbank - NSE) is in choppy price action as complex WXY correction and X wave is in progress, which probably abc flat correction and c as impulse down is in progress. It must stay below 456.80 to retain in c wave down as invalidation level. Overall choppy price action , but it is under-performer so negative divergence in any case should be good sell trade.
Bajaj Auto Ltd (Bajajauto - NSE) - Choppy to bearish price action
Bajaj Auto Ltd (Bajajauto - NSE) is in corrective down cycle after it has completed double zigzag correction upside as WXY. Stay bearish with stop loss above 2976 for c wave down within abc correction. The high volume than average can drive it either the way. So overall price is within a channel.
Bajaj Finance Ltd (Bajajfin - NSE) - Bullish price action
Bajaj Finance Ltd (Bajajfin - NSE) is in extended 5th wave up, which is in 3rd subwave of 5th wave of C wave in ABC zigzag pattern supported with huge volume even recently. Stay bullish with stop loss above 3178 for target of new high above 3600-3700 for 5th of C cycle. The oscillator confirms the trend as high momentum and no divergence.
Bajaj Finserv Ltd (Bajajfinsv - NSE) - choppy to bullish price action
Bajaj Finserv Ltd (Bajajfinsv - NSE) is in 5th wave extension as price continue to rise within subdivision of smaller waves. Stay bullish with stop loss below 6386 for target of new high above 6800 or higher as it is in 3rd subwave of 5th of C wave up in ABC zigzag move up.
Britannia Industries Ltd (Britannia - NSE) - Bulls in charge
Britannia Industries Ltd (Britannia - NSE) is in 4th internal wave of 3rd subwave of 3rd wave up. Stay bullish when it over at around 3650-3600. It may possible that it will go and complete the upper wave within going down to said levels. But wait for one more three wave pull back to same zone to get in to another trade for final 5th subwave of 3rd wave. Overall its strong stock in weekly and current time frame, so stay bullish only.
Bharti Airtel Ltd (Bhartiartl - NSE) - Bears taking control slowly
Bharti Airtel Ltd (Bhartiartl - NSE) is in B wave correction of ABC zigzag of Y wave within WXY correction as double zigzag in 1 hr time frame. It is about to end B wave, but wait for confirmation in 5 min time frame, thereafter sell it for C wave down with stop loss above 588.90 for target zone of 540-20. It is choppy in price action since two months.
Bharti Infratel Ltd (Infratel - NSE) - Bears already attacked as expected
Bharti Infratel Ltd (Infratel - NSE) is about to finish the 5th wave of C wave down of Y wave in WXY sequence. No more trade set up until it gets settled.
Eicher Motors Ltd (Eichermot - NSE) - Bearish or choppy - what’s next ?
Eicher Motors Ltd (Eichermot - NSE) it has complete ABC zigzag and now correcting down in abc zigzag, where a was over and b is in progress. Keep eye in 5 min time frame to track the b wave and sell for c wave, when b is over.
HDFC Bank Ltd (Hdfcbank - NSE) - Bears will take over
HDFC Bank Ltd (Hdfcbank - NSE) is in corrective mode now, which might be ABC zigzag down. It ended 5th wave in ending diagonal in C wave with 0.78 times of wave A distance. It gaped down as price confirmation of bearishness. It is a good sell with stop loss above 1129 when have small pull back. Price should go down sharply after pull back, which normally the case when ending diagonal is present.
Grasim industries Ltd (Grasim - NSE) - Choppy price action
Grasim industries Ltd (Grasim - NSE) is in WXY correction in 2 hr time frame, where Y wave down is in progress. It has completed A down and B corrective cycle is in progress, which might end with nifty up cycle after 5-7 trading days. So good sell trade when it completes B wave up for C down.
Hcl Technologies Ltd (Hcltech - NSE) - Bulls about to lose the control
Hcl Technologies Ltd (Hcltech - NSE) is in 5th final subwave of 5th wave up, which can be small buy with stop loss below 572.95 for target of new high above 595-605 level. After that it will reverse as impulse wave cycle over (unless it starts extending). Sell only after confirmation of wave 5 in smaller time frame. Better bet is wait for impulse fall as confirmatory move and sell in pull back with high as stop loss.
Hero MotoCorp Ltd (Heromotoco - NSE) - Choppy or trendy - what’s next ?
Hero MotoCorp Ltd (Heromotoco - NSE) is in 4th wave correction, which might be flat or complex, So can be sell when go up in B (or X) wave. It is a good buy too also it completes the 4th wave for 5th wave up of C wave in ABC zigzag move. Auto sector has the same wave pattern.
Housing Development Finance Corporation Ltd (HDFC - NSE) - Bearish or Choppy - what’s next ?
Housing Development Finance Corporation Ltd (HDFC - NSE) has completed WXY complex correction, where Y was ended in ABC. New cycle has started moving down, which can be abc or impulse as A, so will see as it progresses. Stay bearish when pull back occurs, with high as invalidation level for c or (3rd wave) down.
ICICI Bank Ltd (Icicibank - NSE) - Bearish price action
ICICI Bank Ltd (Icicibank - NSE) is in 3rd wave down of c with gap, which confirms the bearishness, so stay bearish with stop loss above 372.35. The c wave is the part of abc flat down of Y wave within WXY complex correction of (B) wave.
7/8/2020
Nifty50 futures (IND50 Nifty_F) - Bullish or choppy - what’s next ?
Nifty50 futures (IND50 Nifty_F) has completed impulse cycle of C wave up in ABC zizgag correction of (Y) wave up within 2 hour time frame. The impulse end will confirm, when price is broken below 10658 level, means below that level bearish trade set up is advisable for the target zone of 10200-300 level with stops above 10850.
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) - Bulls in complete control
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) has completed 3rd wave and now correcting down in 4th wave, where A wave is about to over and B wave will rise thereafter.
Asian Paints Ltd (Asianpaint - NSE) - Choppy or trendy - what’s next ?
Asian Paints Ltd (Asianpaint - NSE) has completed 2nd wave of (C) down and moving now in 3rd wave, which should be extended move. So wait for pull back to get in to trade in 5 min time frame with stops above 1762 and stay in trade. The (C) wave will going to be impulse, so the target will be huge. The high volume in 1st wave down will drive the price faster than expected.
Axis Bank Ltd (Axisbank - NSE) - Choppy to bearish price action
Axis Bank Ltd (Axisbank - NSE) is about to end B corrective wave, so wait for impulse wave down to confirm the B wave ended and then enter in sell trade in pull back with stops above B wave high. It is under-performer to Nifty so better sell trade.
Bajaj Auto Ltd (Bajajauto - NSE) - Choppy to bearish price action
Bajaj Auto Ltd (Bajajauto - NSE) is in choppy price action after WXY correction within 2 hr time frame. It dropped in either wave A or 1. so sell within wave 2 or B up move in 5 min time frame for C or 3rd wave down. It has made double top pattern so bearish more when broke 2817 level.
Bajaj Finance Ltd (Bajajfin - NSE) - Choppy to bearish price action
Bajaj Finance Ltd (Bajajfin - NSE) It has completed C wave at 1.618 times of wave A and 5th wave was in leading diagonal structure, which resulting in sharp reversal. So stay bearish in small pull back within 3 min time frame with stops above 3419 for target of 3000 level as ABC correction. The volume capitulation will drive the trend down.
Bajaj Finserv Ltd (Bajajfinsv - NSE) - Choppy to bearish price action
Bajaj Finserv Ltd (Bajajfinsv - NSE) is in similar wave count with Bajajfinance, where C wave has over. So stay bearish but wait for 1st impulse wave down and get in to it with three wave pull back with stops above 6680 level for target of 6200-5900 zone.
Bharat Petroleum Corp Ltd (BPCL - NSE) - Choppy to bearish price action
Bharat Petroleum Corp Ltd (BPCL - NSE) has completed B wave within ABC flat corrective pattern after Impulse C wave cycle over. Sell around at 388-392 level with stops above 397 for target zone of 370-60 level.
Britannia Industries Ltd (Britannia - NSE) - Bulls in charge
Britannia Industries Ltd (Britannia - NSE) is within the impulse of small subwaves and going as per expectations, so stay bullish in every three wave dip for next new high as waves drawn on the chart. Stay with the trend.
Bharti Airtel Ltd (Bhartiartl - NSE) - Bears take the lead
Bharti Airtel Ltd (Bhartiartl - NSE) is within WXY correction in 2 hr time frame, where Y down is in the progress. A wave impulse cycle of Y down is about to end then B wave up will start moving up in three wave up, which is good entry to sell trade with stops above 589 for target of 530 level. Stay bearish only in this trade, as it is good under-performer to Nifty.
Bharti Infratel Ltd (Infratel - NSE) - Bears taking lead
Bharti Infratel Ltd (Infratel - NSE) is within WXY correction, where Y is in progress within 2 hr time frame. It has completed A and B wave as the part of correction and moving down in C wave. It is about to end 1st wave of C and will rise in 2nd wave, which is good entry to sell for C wave down targeted to 200 or below level with stops above 228.60. It is good risk reward ratio set up for the trade.
Eicher Motors Ltd (Eichermot - NSE) - Bearish or choppy - what’s next ?
Eicher Motors Ltd (Eichermot - NSE) has completed ABC zigzag as mentioned in previous updates. It started correcting the up move. So stay bearish for ABC move down. Wait for impulse A to confirm the move and take entry in B wave with high of A as stops to trade C wave.
HDFC Bank Ltd (Hdfcbank - NSE) - Bears will take over
HDFC Bank Ltd (Hdfcbank - NSE) has completed ABC zigzag pattern, where 5th wave of C cycle is ended in ending diagonal structure, means reversal expected to be so sharp. Stay bearish with high as stops 1125, which is easily go down to 1050- 30 level. Wait for wedge to broken down.
Hero MotoCorp Ltd (Heromotoco - NSE) - Choppy price action
Hero MotoCorp Ltd (Heromotoco - NSE) has completed 3rd wave of C wave up as mentioned in previous updates. It is now within 4th wave correction which should be flat or complex correction as wave 2 was sharp. So wait for correction to over for 5th wave up buying. Can be sold when three wave bounce seen.
Hindalco Industries Ltd (Hindalco - NSE) - bearish price action
Hindalco Industries Ltd (Hindalco - NSE) has completed B wave within Y wave down cycle as the part of complex correction mentioned earlier. It is within 1st wave down, so wait for 2nd wave rise to get in to trade with stops above 158.15 for the target below 138 as Y wave within WXY correction.
ICICI Bank Ltd (Icicibank - NSE) - Bearish price action
ICICI Bank Ltd (Icicibank - NSE) has completed B wave in flat ABC correction. It is within 1st wave down of C wave, wait to its over and then 2nd wave will rise tomorrow to get in to trade for C wave down with stops above invalidation level of 379 for target of 330.
7/7/2020
Amara Raja Batteries Ltd (AMARAJABAT - NSE) - Bulls about to lose control
Amara Raja Batteries Ltd (AMARAJABAT - NSE) is in impulse wave up in 4 hr time frame, which is about to end with one more high in 5 min time frame (unless further extends). Thereafter at least ABC correction downside expected, which will take time. So it can be small sell trade with high as stops made by 5th wave, but only after impulse wave down confirmation in 5 min time frame after 5th wave over.
Ashok Leyland Ltd (ASHOKLEY - NSE) - Bearish outlook
Ashok Leyland Ltd (ASHOKLEY - NSE) is in correction mode, where in 4 hr time frame, from last bottom it has completed WXY correction and now correcting down side in wxy correction in 30 min time frame. It is big under-performer to Nifty and so as good selling candidate. Wait for impulse drop in 5 min time frame to confirm the x wave over and y wave start. Then sell with high as stops for down side target of 42-40.
Exide Industries Ltd (EXIDEIND - NSE) - Bearish outlook
Exide Industries Ltd (EXIDEIND - NSE) is in ABC zigzag down cycle in 1 hr time frame. Wave A was impulse and B is complex correction as wxy where y is in abc, which is about to over. But wait for impulse wave 1 of C down to confirm the end of B wave, then enter in 2nd wave pull back with stops above B high for target zone below 130 level. The sell strategy is based on the fact that B wave can unfold in abc flat correction having c in impulse cycle, where 4and 5th subwave of c will go up to complete the B wave, which is accounted here to stay safe in trading. It is big under-performer to Nifty and so as good selling candidate.
Interglobe Aviation Ltd (INDIGO - NSE) - Bearish outlook
Interglobe Aviation Ltd (INDIGO - NSE) is in ABC zigzag down cycle, where A impulse and B corrective was over. The C wave down is in progress, where 1st subwave impulse ended and 2nd subwave is in correction, so sell at around 1050- 1080 zone with stops above 1107 for target of 850 level. It is big under-performer to Nifty and so as good selling candidate.
Bank of Baroda Ltd (BANKBARODA - NSE) - Bearish outlook
Bank of Baroda Ltd (BANKBARODA - NSE) is in ABC zigzag down cycle, where A impulse and B corrective was over. The C wave down is in progress, so stay bearish in small pull back in 3rd subwave in 5 min time frame, to get trade entry. It will go up to 46.35 level to end the C wave as equi-distance to wave A. It is big under-performer to Nifty and so as good selling candidate.
Federal Bank Ltd (FEDERALBNK - NSE) - Bearish outlook
Federal Bank Ltd (FEDERALBNK - NSE) is in ABC zigzag down cycle, where A impulse and B corrective was over. The C wave down is in progress and it is in 1st wave down, wait for 2nd wave pull back, which will probably dip. Sell in 2nd wave with stops above invalidation level of 54.70 for the target of 48 level. B wave was complex correction. It is big under-performer to Nifty and so as good selling candidate.
7/4/2020
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) - Bulls in complete control
Adani Port & Special Economic Zone Ltd (Adaniport - NSE) is moving as expected in previous updates as strong uptrend. It is in 5th subwave of 3rd wave. Stay bullish as it approaches the target zone. It is one more high away to end the 3rd wave.
Asian Paints Ltd (Asianpaint - NSE) - Choppy or trendy - what’s next ?
Asian Paints Ltd (Asianpaint - NSE) is in choppy zone in 2 hr time frame, forming either triangle or complex WXY correction pattern, but in both case C wave will go down in 30 min time frame, from last swing high of 1812.50 with minimum target zone 1550 or lower. In 15 min time frame, the last fall was A wave and B wave was ended with flat correction abc (or c may subdivide, will know as price progresses). C down wave is in progress now, but keep eye on invalidation level of 1720 as stops to sell from here. It should start dropping soon in impulse sequence if C wave confirmed. Alternate count must be keep in mind that c of B wave up will subdivide, so if time taken but price doesn’t fall, then second option is in progress. The major invalidation level of pattern is 1812.50.
Axis Bank Ltd (Axisbank - NSE) - Choppy price action
Axis Bank Ltd (Axisbank - NSE) is in corrective mode. It completed ABC sequence up as predicted in last updates. Now it starts correcting either ABC move, or C wave can extended as two options available in wave counts. As price is under-performer to Nifty, the first option is looks obvious on chart. It is going down in c wave in abc zigzag down of X wave, so can be good sell with stops of 441 as invalidation level for target zone of 395-90.
Bajaj Auto Ltd (Bajajauto - NSE) - Bulls in full control
Bajaj Auto Ltd (Bajajauto - NSE) is in 5th subwave of 3rd wave up in C wave cycle. It must hold the level of 2800 to retain the wave count. Stay bullish for new high above 3000 level. This is the part of ABC zigzag correction cycle up.
Bajaj Finance Ltd (Bajajfin - NSE) - Choppy price action
Bajaj Finance Ltd (Bajajfin - NSE) As mentioned in previous updates, ABC zigzag correction was over, but 5th wave of C was truncated, which was generally not expected. Now it is correting in abc flat correction, where price is within 3rd subwave down, so stay bearish with invalidation level of 3016 for target of 2725 level for quick trade. Overall its within corrective mode.
Bajaj Finserv Ltd (Bajajfinsv - NSE) - Choppy price action
Bajaj Finserv Ltd (Bajajfinsv - NSE) it has completed ABC zigzag up move and correcting it down in WXY. It completed W & X wave in double zigzag correction. Y wave down is in progress, which also go down in abc move. The invalidation level for trade set up and pattern is 6261 level for target zone around 5580.
Bharat Petroleum Corp Ltd (BPCL - NSE) - Choppy price action
Bharat Petroleum Corp Ltd (BPCL - NSE) has completed ABC zigzag pattern, where C wave failed to make new high above its internal 3rd wave, called truncated 5th wave. It is now correcting down in abc correction, where c down is in progress. From current point of price, it should be range bound to slight bearish expected for next week.
Britannia Industries Ltd (Britannia - NSE) - Bulls in charge
Britannia Industries Ltd (Britannia - NSE) is in 5th subwave of 3rd wave up as mentioned in previous updates in uptrend. It is started subdividing the 5th subwave, which is within 3rd internal wave, which is one swing high away to complete in 15 min time frame. Stay bullish above level 3384 for new high above 3750- 3850 level as 3rd wave in 2 hr time frame.
Bharti Airtel Ltd (Bhartiartl - NSE) - Bulls or bears - who will win the battle ?
Bharti Airtel Ltd (Bhartiartl - NSE) has completed impulse wave up as C in 4 hr time frame and now it is correcting down side. Here two counts possible, where one is either WXY complex correction, where Y wave down is in progress as in wxy in which y wave will start moving down. Alternatively triangle possible, which is about to break upside, where invalidation level of 588.10 is crucial, because above that level stay bullish only for new high and big upmove. But below that level stay bearish for down cycle, which probably ends near 520-30 level.
Bharti Infratel Ltd (Infratel - NSE) - Bears waiting to attack
Bharti Infratel Ltd (Infratel - NSE) has completed WXY correction in 2 hr time frame from major bottom and correcting it with another wxy correction. Wave y down is in progress, where internal b wave is about to end with one minor high in 5 min time frame, thereafter c wave down will start. So stay bearish with stops above 237.55 level for target of 200 or below.
Cipla Ltd (Cipla - NSE) - Choppy price action
Cipla Ltd (Cipla - NSE) is in correction after it has completed ABC zigzag pattern in 4 hr time frame. It is within complex corrective pattern, where flat and zigzag structures are unfolding. Next wave should be flat in 15 min time frame expected.
Eicher Motors Ltd (Eichermot - NSE) - Bulls riding the trend
Eicher Motors Ltd (Eichermot - NSE) As mentioned in previous updates it is moving towards the target of C wave up in its 5th wave of target zone 20500 as equal size to wave A. Below level 18015 the sequence will consider as ended if price falls below. Stay small bullish as in pull back as price is within wave 5 of C. The truncated 5th wave low at major bottom in 3 hr time frame confirms the sharp rise in price with huge volume support.
HDFC Bank Ltd (Hdfcbank - NSE) - Choppy or trendy - what’s next ?
HDFC Bank Ltd (Hdfcbank - NSE) is in correction after ABC over or 1st wave of C over, so wait for next correction move to get idea about next big cycle. The overall trend is up with invalidation level of 932.40. stay bullish when price pull backs down in three waves.
Hero MotoCorp Ltd (Heromotoco - NSE) - Bulls still strong
Hero MotoCorp Ltd (Heromotoco - NSE) As mentioned in previous updates that price is within 3rd wave of C up and gone up exactly as expected. It is within 3rd internal of 5th subwave up of 3rd wave, which is about to end in 10 min time frame, stay bullish in pull back for one more high to end the 3rd wave. Thereafter big down cycle of 4th wave will occur, which will be an opportunity to buy for final 5th wave of C cycle.
Hindalco Industries Ltd (Hindalco - NSE) - Choppy price action
Hindalco Industries Ltd (Hindalco - NSE) has completed ABC wave zigzag pattern from last bottom in 3 hr time frame. It then started WXY correction, where Y down cycle is in progress. Y is subdividing in abc correction and c down is under progress after b wave ended in triangle, stay bearish with invalidation level of 149.40 as stops for target zone of 136-34.
ICICI Bank Ltd (Icicibank - NSE) - Choppy before bulls coming
ICICI Bank Ltd (Icicibank - NSE) is within ABC correction, where B wave is within WXY complex correction and Y is in progress as c wave down. It must hold invalidation level of 370.80 to retain the count valid. The target zone of B wave will be 325-20, so stay bearish until it reached. Thereafter C wave up will start moving up.
Indian Oil Corporation Ltd (IOC - NSE) - choppy price action
Indian Oil Corporation Ltd (IOC - NSE) is within ABC zigzag move up, where B wave is in progress as WXY complex correction and Y final wave is on the way to end B wave. Wait for b wave within Y to complete for c down, which is flat correction. Wait for confirmation of b to end then stay bearish for target zone to 80-82 with stops above 91 level.
IndusInd Bank Ltd (Indusindbk - NSE) - Choppy price action
IndusInd Bank Ltd (Indusindbk - NSE) is in WXY corrective sequence where Y wave is under progress downside. Y is made up of ABC correction and C is moving down where it is about to end its 1st wave thereafter 2nd wave will start going up, which will be good entry to sell it with stops above 507.90 as invalidation level for bearish trade. It is within choppy price action and under-performer to Nifty index.
ITC Ltd (ITC - NSE) - choppy bearish price action
ITC Ltd (ITC - NSE) has complex ABC zigzag up move, thereafter it is correcting within WXY correction, where Y wave is in progress. Wave b of Y wave down is about to end soon, but wait for clear impulse down 1st wave as confirmation of c wave and its pull back as 2nd wave to get in to trade with stops above 209 level as invalidation of c wave for target zone of 180-175.
Larsen & Toubro Ltd (LT - NSE) - choppy price action
Larsen & Toubro Ltd (LT - NSE) is now within wxy complex corrective cycle, wait for clear confirmation of x wave formation to end for bearish trade set up.
Mahindra & Mahindra Ltd (M&M - NSE) - Bulls with tight grip
Mahindra & Mahindra Ltd (M&M - NSE) As mentioned in previous updates, for 5th wave of impulse cycle, it is moving up. It completed 1st subwave and correcting down in 2nd subwave, which take little price down before going up in 3rd subwave up in 5th wave. The invalidation level for subwave is 495 level and target zone will be 595-600 level. Stay bullish in pull back and keey eye in 10 min time frame.
Nestle India Ltd (Nestleind - NSE) - Choppy to bearish price action
Nestle India Ltd (Nestleind - NSE) is in complex correction WXY after impulse wave over in 2 hr time frame. In 30 min time frame, it is in ABC zigzag down move of Y wave, where B wave has been ended and C wave down is in progress. 3rd wave down is in progress, so stay bearish with stops above 17300 as invalidation level for target zone of 15600.
Reliance Industries Ltd (Reliance - NSE) - Bulls in complete control
Reliance Industries Ltd (Reliance - NSE) is in impulse wave up, where 3rd wave is under progress. It completed 1st and 2nd subwave of 3rd wave up. Now its going up in 3rd subwave, so stay bullish with stops below 1695 for target above 2000. It is the most out-performing member of Nifty index.
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