Ajayadav

Ajayadav

Nifty on Higher time frame seems to be correcting in Flat pattern in which wave C is unfolding in a triangle pattern in spite of 12345.

Ajayadav

Considering the centre line as mirror, we can see that till now Nifty has made the mirror Image formation. If we consider this than next move of Nifty should be a upside move.

Ajayadav

Ultratech Cement seems completed its 5 wave impulse move and now its in corrective phase. A and B of the corrective phase is completed and C is in progress which can end at 6230 which is 38.2% retracement of the 5 wave impulse. This correction could be of lower degree of a higher degree correction, means after completion of this correction we can see one more correction.

Ajayadav

Infy has completed sub wave 3 of its higher degree wave 3. Now the wave 4 of its higher degree in progress. this corrective structure could be a complex as wave 2 was simple flat...

Ajayadav

SBI Cards is at good levels for long term investment. stock can be also bought for short term at current levels with target of 990/1025. further as shown in the chart.

Ajayadav

In my previous post i mentioned that bank nifty is either in ED or Flat correction but i considered ED. Till now it has followed the path as projected. now it looks a of A of wave 5 is completed in triangle after that corrected in abc zig zag...now we should assume c of A is started or may start from 36100...

Ajayadav

Reliance can be Longed with 2300 SL for target of 2751+

Ajayadav

Bank Nifty have retraced more than 61.8% of previous move which negated the view of 12345 as wave 4 cant retrace 61.8% and now the only exception left of ED, erstwhile it may be a Flat Irregular correction. Also, Nifty has not retraced more than 61.8% and the view of 12345 not negated yet. If we consider this point, the probability of Irregular correction is less...

Ajayadav

Grasim has taken support on Channel line. now from here it can give upward move. Target will be 1965 SL 1750 but 1670 will be safer.

Ajayadav

It looks nifty is correcting in WXY pattern, of which 'a' of Y is completed and go to form 'b' which can take nifty towards 17700 levels, thereafter we can see another round of fall which can take nifty around 17050 levels.

Ajayadav

If Nifty Holds above 17613 than we can see a good bounce back which can take nifty to 18200-300 levels. inspite of this structure tere is one more probability which can take down nifty towards 17400 levels. nifty may be longed with SL 17610

Ajayadav

As per the above counts it seems Bank Nifty has completed its wave 4 which came after correction of 50% of wave 3. Further the correction was Double correction (Flat+Triangle). also, we can see there is divergence in RSI. Now if we assume the above counts correct than wave 5 should start from here and may end in between 42360 to 45000. Counts are invalid below...

Ajayadav

Idea has completed triple correction WXYXZ and now ready to move upside. it can be bought at CMP for target if 16.6

Ajayadav

NIFTY might be doing triple correction i.e WXYXZ, of which it has completed WX and doing Y. in Y it has done A which is of 5 waves and will go for B which could be around 15100 from there it could go for C which could be around 14770/14625/14300. So nifty can be shorted between 15060 to 15110 with SL 15275 for the targets as said above. One other possibility is...

Ajayadav

Long at CMP with SL 199 for target of 222-227. stock is in wave 5 of minor degree which is looking an Ending Diagonal Triangle if it does not break level of 200. Further if it sustains the level 200 and gives upward move, the Stock can move to 240+ in that case SL will be 180.

Ajayadav

NIFTY IS HEADING TO FORM NEW HIGH.

Ajayadav

LD Triangle completed. short positions can initiated for target 400/395/390 SL 425.

Ajayadav

Reliance Short position can be initiated between 2110-2150 wit stop loss 2200 and target would be 1970