Infy might be bouncing from 900 zone. It might go up to 1040 or 1083. Then we can expect another round of down move below 900.
Saturday, March 11, 2017
OnMobile Price Action analysis of daily chart
In our earlier analysis we observed that OnMobile might be bouncing from the multiple support of 80. But subsequently it broke that level. Now we can expect any reasonable support only near 68 or 61.
Piramal Enterprises Limited analysis
Piramal Enterprises limited (PEL) seems to be forming a multi-month correction pattern in daily chart. 2097 that it did in August 22nd was the end of some impulse wave. From then onward it retraced back to 1366.05 forming the 'A' of the correction wave. Further on it moved up in multiple correction pattern resembling a triangle. Triangles are features of 'B' waves.
Internal wave structure wave structure of this triangle also resembles the a-b-c forms. Accordingly we might have completed the 5th wave of the triangle 'e' at the height of 1927.40 or there is one more up pending till 1965.
After the completion of this we can expect an impulsive move down towards 1450-1300 area in 'C' wave.
Then? well we might be completing the correction all together or these three waves could be just the 'a' and another 'b' & 'c' pending. Or we can expect a 'X' and another a'b'c.
Whatever be the case, we can at least expect a move up and we might have found the low for recent times to come.
Daily chart with Elliott Waves for Piramal Enterprises Limited.
Internal wave structure wave structure of this triangle also resembles the a-b-c forms. Accordingly we might have completed the 5th wave of the triangle 'e' at the height of 1927.40 or there is one more up pending till 1965.
After the completion of this we can expect an impulsive move down towards 1450-1300 area in 'C' wave.
Then? well we might be completing the correction all together or these three waves could be just the 'a' and another 'b' & 'c' pending. Or we can expect a 'X' and another a'b'c.
Whatever be the case, we can at least expect a move up and we might have found the low for recent times to come.
Daily chart with Elliott Waves for Piramal Enterprises Limited.
Thursday, March 2, 2017
Nifty Price acction 01-03-2017
There are basically 3 possibilities from here for Thursday's move:
1. Move down till yesterday's price congestion zone bottom and them move up
2. Move up till PDH and then a weak PB and then BO
3. BO and a weak PB => BPB
The up move from the low of Tuseday was very strong yesterday morning. The subsequent sideways move till the afternoon was very weak. Again the subsequent up move was very strong and the end of the day down move or the last two candles were still weak. Hence option 2 and 3 are the most preferred options.
Will observe the price candle by candle in TTF and see which of the path market takes. Or will it take a completely different path?
Tuesday, February 28, 2017
OnMobile Price Action analysis -27-02-2017
OnMobile MD and CEO Pancholy resigns Following this news Onmobile lost 10% on Monday, 27-02-2017. It crashed to 76.25 at one point. So to analyse the situation I opened the daily chart of OnMobile.
79-80 is a strong support zone for OnMobile. This was tested three times earlier. Fourth time it broke the level but quickly bounced back rejecting the lower level. Now we need to observe how the next bounce and subsequent re-trace. If the bounce was strong and retrace is weak then it will be a very good sign to enter long position.
Sunday, February 19, 2017
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