Nifty (5 mins - Bear flag):
Bear flag is in making and will trigger below 7078 targetting 7033 and then 6984 keeping SL at 7101. Resistence will be at top trendline of bear flag (aprx 7050) which is also 80% retrace of the fall from 7172 - 7078
If Price reached 7150, then Sell at 7150, keeping SL at 7079 and then trail using last fall retrace.
If price, breaks 7078, then play the bear flag.
Sell below 7078 (2 5 mins close below 7078), targetting 7033 and then 6984 keeping SL at 7101.
+WW Pattern is also in making in 5 mins chart.
Nifty (EW):
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
a.B.(2) 7078 - 7131 (53)=> in (a)(b)(c) waves
b.B.(2) 7131 - 7093 (38) =>
c.B.(2) 7093 - xxxx (if a=c, then xxxx may be at 7146 which is near to 80% retrace)
Bigger Picture: If B ended at 7131, then:
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
B.(2) 7078 - 7131 (53)=> in (a)(b)(c) wave
C.(2) 7131 - xxxx (if a=c, then xxxx may be at 7069 min < 7037 a=c < 7037<6969 max="" p="">
Bigger Picture: If B end at 7150, then:
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
B.(2) 7078 - 7150 (72)=> in (a)(b)(c) wave
C.(2) 7150 - xxxx (if a=c, then xxxx may be at 7092 min < 7056 a=c < 7037<6998 max="" p="">
RCOM 5 Mins - EW:
(i) 113.60 125.50 -11.90
A 125.50 120.80 4.70
B 120.80 123.30 -2.50
C 123.30 xxxx (xxxx may end at 120.40 min < 118.60 a=c < 115.70 max)
Retrace for the rise from 113.60-125.50 are as below:
122.69, 120.98, 119.55, 118.15, 116.74, 115.98
Retrace for the fall from 125.50-120.80 are as below:
121.91, 122.59, 123.15, 123.70, 124.26, 124.56
Tata Steel (5 Mins EW):
(i) 388.10 441.50 -53.40
A 441.50 421.35 20.15
a.B 421.35 430.95 -9.60
b.B 430.95 424.75 6.20
B 424.75 xxxx (xxxx may end at 430.68 min < 434.35 a=c < 440.28 max)
Then C will fall for another 20 points
Retrace levels for the rise from 388.10-441.50:
428.90 421.21 414.80 408.50 402.20 398.78
Retrace levels for the fall from 3441.50-421.35:
426.11 429.01 431.43 433.80 436.18 437.476998>6969>
Bear flag is in making and will trigger below 7078 targetting 7033 and then 6984 keeping SL at 7101. Resistence will be at top trendline of bear flag (aprx 7050) which is also 80% retrace of the fall from 7172 - 7078
If Price reached 7150, then Sell at 7150, keeping SL at 7079 and then trail using last fall retrace.
If price, breaks 7078, then play the bear flag.
Sell below 7078 (2 5 mins close below 7078), targetting 7033 and then 6984 keeping SL at 7101.
+WW Pattern is also in making in 5 mins chart.
Nifty (EW):
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
a.B.(2) 7078 - 7131 (53)=> in (a)(b)(c) waves
b.B.(2) 7131 - 7093 (38) =>
c.B.(2) 7093 - xxxx (if a=c, then xxxx may be at 7146 which is near to 80% retrace)
Bigger Picture: If B ended at 7131, then:
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
B.(2) 7078 - 7131 (53)=> in (a)(b)(c) wave
C.(2) 7131 - xxxx (if a=c, then xxxx may be at 7069 min < 7037 a=c < 7037<6969 max="" p="">
Bigger Picture: If B end at 7150, then:
(1) 6639 - 7172 (533)
A.(2) 7172 - 7078 (94)
B.(2) 7078 - 7150 (72)=> in (a)(b)(c) wave
C.(2) 7150 - xxxx (if a=c, then xxxx may be at 7092 min < 7056 a=c < 7037<6998 max="" p="">
RCOM 5 Mins - EW:
(i) 113.60 125.50 -11.90
A 125.50 120.80 4.70
B 120.80 123.30 -2.50
C 123.30 xxxx (xxxx may end at 120.40 min < 118.60 a=c < 115.70 max)
Retrace for the rise from 113.60-125.50 are as below:
122.69, 120.98, 119.55, 118.15, 116.74, 115.98
Retrace for the fall from 125.50-120.80 are as below:
121.91, 122.59, 123.15, 123.70, 124.26, 124.56
Tata Steel (5 Mins EW):
(i) 388.10 441.50 -53.40
A 441.50 421.35 20.15
a.B 421.35 430.95 -9.60
b.B 430.95 424.75 6.20
B 424.75 xxxx (xxxx may end at 430.68 min < 434.35 a=c < 440.28 max)
Then C will fall for another 20 points
Retrace levels for the rise from 388.10-441.50:
428.90 421.21 414.80 408.50 402.20 398.78
Retrace levels for the fall from 3441.50-421.35:
426.11 429.01 431.43 433.80 436.18 437.476998>6969>
TS did 457 today!!!!!
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