Gold’s Next move: Crucial Level To decide
Our regular readers would remember how we have been bullish on Gold since December of 2015 (Refer: Can Gold shine in 2016?). The precious metal has not disappointed, meeting our initial target of $1330 right after the Brexit poll outcome. Right now Gold is placed close to an important level which […]
In our last update on Nifty we pointed out how Nifty has been trading in between two trend lines. We also mentioned a crucial support around 8540 levels. Chart Below: Nifty has since tested the lower trendline T2 and managed to close above it. It has also take support just […]
Here is a snapshot of Nifty move in last few days: August 3: Closes Down by 79 points August 4: Closes Flat (compared to previous close) August 5: Closes Up over 130 points August 8: Closes Up by 28 points August 9: Closes Down by 33 points August 10: Closes […]
Just Dial: Is Wrong Wave Count = Losses?
In April I shared a post on Just Dial: Power of Wave Analysis in dealing with incomplete data. To quote from the article: Once prices bounce off the lower end of this trend channel and develop a 5-wave upward move of lesser degree. This is a clear indication that we may have […]
Nifty: Is all hope lost?
Nifty broke through the key 8655 level, yet has failed to sustain above the level for too long. Also another attempt to move above the T1 trend line failed. Chart Below: The 8530-8535 levels in Nifty is key. If Nifty manages to stay over these levels, there is every possibility that […]
Nifty has seen a sharp reversal by the end of the day. The high made by Nifty was around 8645, eerily close to the crucial 8655 level we have mentioned quite often. Chart Below: The exuberance created by break of 8587 level has met a similarly sharp response to the […]
Nifty Short Term Update
Nifty bounced from the key 8478 levels mentioned in our last post. The bounce should not be taken seriously unless it crosses 8587 level. If we are in a correction of a continuing up trend we should ideally stay above the 8478 level, and head higher by ultimately breaking the […]
Nifty Update & Stock Out-performance Lesson
Since our last post Nifty has managed to keep its upward momentum intact without any major correction, except the one today. This correction has developed around an important trend line (T1) as shown below: This trend line (T1) should be closely observed as we would need to witness substantial strength […]
Nifty correction wasn’t able to break the crucial level of 7896, and has since managed to break above the crucial 8300 level. Chart Below: This move is likely a wave (v) move as part of wave 3 or C. As readers would recall we had mentioned in one our […]
Stock Ideas: Astra Microwave
Astra Microwave Products has been trading in a range for more than a year, in what looks like a corrective formation. Chart Below: Legs A & D measure close to .786 of leg C. There is a high probability that we have finished the final leg E of the correction and […]