Mirza Intl - Inverted H&S on the hourly chart
Rain (Update from this)
Hidden bullish divergence held up well from 170. Now looks set for more.
Kitex (Update from this post)
Pullback in progress
PEL - Looks to be a false breakout as the resistance range held up. Update from this
pel is gonna do a back up in 2500 to 2700 form lps n then move fr markup, now in phase d of reaccumulation…
disclaimer… traded and exited at 2944.3
IG petrochem
accumulation in progress…
it is very evident that 665 thousand shares transaction and counting, on this rally after the shakeout, is the upswing with the biggest volumes in 2018…
and it breaks the down trend line of the schematics…
mean while the selling pressure has eased, had increased in shakeout, but thats expected and artificial…
there must be some kind of correction recently, and the selling pressure there will be the key to determine if the LPS[last point of support] formation is happening or not…
disclaimer… not invested, will take positional trade at LPS and BU
persistent systems…
continuation…
to be watched closely, if a break out happens on follow through of this demand spike…
disclaimer… not positions, waiting to take on breakout
delta corp…
accumulation ongoing , not yet out of the trading range, should leading to a primary wave 5 formation
disclaimer… long trade active… will add more on proper LPS formation
@phreakv6 @Capsule91 @manivannan.g
Okay I get the point that no bull wants to touch PSU banks but please do have a look at the chart of Vijaya Bank. Is it showing signs of long term trend reversal or just a false breakout? Delivery has been good and after dipping below 200 DMA yesterday, it again closed above it.
Please do share your technical views.
Discl. Vested interest.
counted from point and figure charts, nifty should reach climax in the 11907 to 12488 range…
@devaki.tripathy very nice observation…
clearly the action climbed up the moving average , backed up and tested supply, and then continued with the trend… this behaviour is itself bullish, specially today’s candle was a nice marubozu with minimum upwick, demand was definitely in control…
looking at the weekly chart…
there is a downtrend channel we see, and the rallies repeatedly failing to even test the prior highs…
3 things here…
to me this looks like the supply has been absorbed/ in the process of absorption…
and a change of character on this rally, will be seen, if not, it sud go as i mentioned in the chart…
if i am to take a trade, i would watch for a change of character and then a decline and the selling pressure on that, that would form the last point of support… which is the phase d of wyckoff accumualtion schematics…
hope this helps…
disclaimer… not invested
quick post about gail…
https://www.tradingview.com/x/8KBqcPyp/
this is a classical rounded bottom accumulation which has tested the top of the trading range after spring action…
now the formation of last point of support on phase d is awaited, for making an entry,…
one might also call, a cup and handle pattern in formation…
disclaimer… looking to make an entry in 352 to 360 region and compound gains from other trades
Ador fontech…
growing very fond of this price action…
a 4 year long accumulation…
on a contra side view, huge surge in volume [4311 thousand] coudnt propel breakout of the trading range…
a clear breakout and then support taking form the resistance line of the trading range., would be the best case test of the structure that has developed…
disclaimer… invested and adding
That’s pretty much true, this is not only apply to PSU banks, also to the PSU companies 
. By looking at the current scenario, Hind Copper is in v.attractive valuation, but only hindrance is it’s a PSU. Because, I never dare to touch a PSU.
Coromandel…
continuation post and swing update
the last upswing was on massive volume surge , 2.8 million shares were transacted…
this is highest in the schematics since the prelim support which was o 5.8 million…
talking about levels here, the chart is a bit messy though, with all the possible moving averages and bollinger band clubbed into a single indicator , here the blue MA is are the 50 week sma nd ema, which is acting as a support, today the high volume candle was a hammer with test at 50 day sma…
to me it looks like the 50dma will agian be tested on lower volumes and since the 50dma is curving down looks like will nearly intersect with the 20ema median line of the bollinger bad[marked with dotts n red combo] and the red 20day ema, so the market green region rest, looks likely…
if the volumes on this downswing dries off, lesser than any of the shakeout volumes [1.6 and 0.9 million], this can be a last point of support [lower, generally 2 lps forms one lower and one higher in the trading range , separated by the creek, which is presently the 200day wilder moving average at 429, the line of biggest resistance]…
the schematics is still in phase b, with high probability of jump into phase d…
disclaimer… watching, no positions taken yet
this chart will be just for fun and to be taken lightly…
[although i believe this is very much whats gonna happen]
this is the fractal copy of 2003 to 2009 , some what rescaled and compared to the present price action…
NOT for price targets also, from point and figure charts i mentioned, the likely top of nifty should be 12488 , in my previous post…
the parabolic move to the extreme euphoria has started…
bls international…
continuation post…
the lower lps formation dissected, and the bullish motives of the manipulators evident here…
the post LPS sos formation is on the way, resistance at 194 which is the 200dma and 226 from point and figure chart where the next rotation is expected
disclaimer… invested
ador fontech…
continuation and post update
i wanted to time my addition into this scrip now, and here is the additional analysis i did taking the swing volumes…
conclusion is, there should be another retest of the supply , after the climactic huge volume stopping action, and then the bullish upmove that is expected…
what iwill be expecting is a low volume decline, when the market will be telling us, there are not much sellers left in the system and demand is about to get higher than the supply, and a markup
or the other situation is, if the 123 level is broken out, on volumes and on bullish bars, thats another confirmation, that the operators are not selling to retest the supply and are ready for markup… eitherwise we should be redy for the market to lead us
disclaimer… invested and adding
Seems you have tried to extrapolate the chart of 03-08 & with 2016 onwards but the global scenario especially economically & fundamentally are more developed now. Apart from that earlier 03-08 was mainly driven by FII whereas now the driver is MF with the help of retail ppl.
any market moves with a fractal nature in waves of 5, 3 impulse up , 2 corrections …
that the final wave of this whole bigger impulse is on the way is visually appreciable after having 2 impulse up and 2 corrections …
not only indian indices , but take any reference market , all are positioned in the same way, for example the us indices which i track…
and all of them move in tandem…
yes, the depth of the correction is questionable, and and might range from 30 to 50% of the highest quote …
Actually What i believe “Price/Chart is based on action” It can’t be reverse.I mean to say any1 cant measure the target price bcoz it’s depend on action(it could be economical/political etc.)
Hi @Capsule91
Could you kindly expand on what you mean by motives of manipulators? And you expect the stock to turn back down from 226?
Thanks!
Continuation post…
Edelweiss earnings out…
Numbers are looking good yoy , that was expected and given,
but qoq it has been a flattish with a little decline in topline , yet better margins in the capital business and lesser loss (and also revenue) from the insurance biz has improved the earnings qoq, there by expanding the overall gross margins optically, essentially the entire mix worked …
For the number crunching, here is the press release…
https://www.bseindia.com/xml-data/corpfiling/AttachLive/f772b382-bd49-4364-bf10-5d7a9cb45c76.pdf
Technically, the scrip is moving on very low volumes yet, 18million shares transacted till now on this up swing , compared to the last one which was 126million , while the price has crossed the top of the previous upswing, and the last point of support formed in just 36million shares on the downswing…
Bulls are yet to show up,
Earnings effect are the all important point now,
A resistance retest on such low volumes can easily get converted into an upthrust and a swing below can happen…
Else what is more likely , is the market raises some eyebrow on the qoq numbers and the lets the bulls lose and the action is out of the trading range…
comparing q4fy18 earnings, that time market seemed panicky , and there was a volume surge of 6.3 million on that day when the 20 day moving average of the moving was just 2.1million…
this time, the market seems to be optimistic and less panicky, although the open and close range of the last 3 candles are small…
a weekly close above 317 will be bullish
Disclaimer… Invested
