riskOmeter

riskOmeter

The rise from 88 have been all corrective and can be marked an X wave. Currently price is taking resistance at 20 Weekly SMA and upper end of the downward sloping channel. One more up leg is not ruled out which may break the channel line temporarily. We expect the next leg down to below levels may start post completion of the upmove - 77 - 38.20% retracement...

riskOmeter

The scrip has completed a time correction - Flat structure in EW terms. Why we say that - because the momentum indicator has given buy signal again after completing the cycle. Our expectation is a next move up. Recent low of 442 becomes critical point in this expected move. Lets see how this develops Earlier post linked here

riskOmeter

The scrip has given its first 5 wave up-move since listing fuelling hope of a trend reversal. Whether long term trend has reversed or not is yet to be seen. However, for us the play on long side exists till it holds 356....although a dip to 410-428 is not ruled out in short term Lets see how this develops...

riskOmeter

NDX is showing a probable H&S breakdown. Why we are confident that this pattern may work - because 1) The rejection came from 50% retracement level of the earlier down move; and 2) the move from Head to the neckline is a clean and strong 5 wave structure 3) momentum indicator has given a sell signal after completing its cycle 5 wave move always increase the...

riskOmeter

Expanding Triangle has been achieving exact length of the move Rise from 29th August to 13th Sept is just shy of 123.60% retracement of the previous fall Similarly rise from 16764 till today high is just shy of 123.60% retracement of previous fall. Today's high touched the rising trendline making it the 3rd touch point. Can we see a move upto lower end of the...

riskOmeter

DJI this time has reached 78.60% retracement level. With momentum indicator in sell mode, today's close below yesterday's low may provide first signal that up-move has finished. Let us wait and see how the day ends. Happy Trading

riskOmeter Updated 

This is a 15 min chart of DJI. Why we are marking 1-2-3-4-5 because the internals of wave (i) is 5 wave structure on 5 min chart. Lets see at day end if this structure develops or not.

riskOmeter

As long as 208 is held, we can safely say that the 3rd wave has started. Expecting the 3rd to be subdivided again in 5-3-5-3-5 structure to reach equality to 1 at 255 Lets see how this develops

riskOmeter

All major bounces have stopped in range of 61.80%-66% retracement level. Current rise is near to the same range. Next couple of days crucial - whether the downtrend resumes or not

riskOmeter Updated 

Downside Targets for expanding triangle achieved. As long as today's low is held, the stock in line with the broader market, could see bounce back to marked zone as initial targets

riskOmeter

The minimum projection for 5th is done. We wait for a close above PDL for confirmation as to whether 5th have ended or not. Alternate way will be to drill down to hourly TF to check completion of internals of the 5th on Daily chart

riskOmeter

Breaking out from the triangular structure will be first confirmation. Final confirmation above the resistance zone

riskOmeter

Could give good move as Diwali gift if market sustains

riskOmeter

Expanding triangle could turn out to be a leading diagonal

riskOmeter

Looks like some Diwali cheers for the shareholders.

riskOmeter

Price action near the marked zone would be interesting to watch on Monday. In case the price action signals end of a leg of corrective phase, I would be interested in playing the counter-trend move

riskOmeter

EW wise minimum projection for 5th is already achieved. However, the internals of 5th is still not complete and expectation of another high cannot be ruled out. We may see a dip to 40100-40300 on Monday and depending on the price movement, we may attempt a long trade towards 43160 with invalidation level of 39258. IMP -> These are purely personal views and not a...