Divergensity

Divergensity

ONGC looks like its ready for its next move down, however, a correction on the 240 needs to happen that could confirm the same. This looks like its part of a bigger B wave, effectively making this one of the pieces to finish for the B wave completion. There could be a move down to retest the recent lows and then we might see one major up move.

Divergensity

ITC has just broken out to the downside after a good 3 wave correction. It is most likely to continue going down to the 240- 250 levels. Any meaningful pull back can be an opportunity to sell.

Divergensity

Welspun is in a long drawn Corrective structure. There is one wave to the upside which completes the correction. At the moment its in a flag formation. A sustained breakout from the current 240 min flag should take the stock higher towards the 90 zone.

Divergensity

It seems like NSE:IOC has completed an expanding Flat on the 240 as a part of the bigger corrective structure. There is probably one major move to the downside before an upmove. The Downmove in question has just finished a running flat and is likely continuing the move down to retest the recent lows of the structure.

Divergensity

In the 15 min time frame, if the current pattern turns out to be a Flat, then SBIN is likely to go further down as a continuation to the downside. A

Divergensity

GBPINR is in a complex corrective structure. The sub waves have been color coded for ease of spotting them. The next move could be a down move to finish the C wave of the current structure in making. On the 1 hour time frame, I guess there's one move down. AS the structure develops, we get a clearer picture.

Divergensity

This is a classic Flat pattern NSE:NIFTY is in the making. The initial 2 legs A, B are done and Nifty is now in the C leg. Now that there has been an initial move indicating the start of the C wave, there is a good chance that Nifty will retrace. Once the pullback/ retracement is done, it could then continue go down in the direction of C to retest the lows that...

Divergensity

This is a classic Flat pattern NSE:NIFTY is in the making. I used the Futures chart for continuity/ least gaps. The initial 2 legs A, B are done and Nifty is now in the C leg. Now that there has been a big move, there is a good chance that Nifty will retrace. Once the pullback/ retracement is done, it could go down to finish the C wave, at levels close to A.