VikramGopalAimanda

VikramGopalAimanda

Nifty - monthly wave count

VikramGopalAimanda

Nifty looks like forming a diagonal triangle , we can see 3-3-3 formation so far,currently 3 wave up is forming ...likely to get resisted at 9520-25 levels. Once done we should move to 9430-35 levels.

VikramGopalAimanda

5 low ema 9653 is immediate support below that 9615 trend line as in image, i expect any of these levels. lets see .

VikramGopalAimanda

Maruti has been trending up with a good motive and corrective wave pattern. Time wise and pattern wise the decline from recent high of 7480 appears corrective. Hence we expect maruti to again move up above 7480. As per fib and channel support comes at around 7235-7200 levels. stop loss should be at 7085, one can target 7600 levels

VikramGopalAimanda

Bharti airtel has been doing sideways move for sometime. Currently it is at lower end of the channel (360). Traders can initiate a buy at lower end of channel and target at least upper end (380) of channel. Eventually i expect it to break the channel and move higher.

VikramGopalAimanda

2 possibilities possible here. Zee entertainment could have already bottomed out at 494 levels, the currently decline could be just an abc which could end around 502 and uptrend will resume with a target of 560. Else it could be in complex correction involving x waves, Accordingly we might see it decline till 480 levels and bounce till 530 levels. Traders can buy...

VikramGopalAimanda

Nifty has been forming higher top , higher bottom since dec2016. Till this formation remains intact we should continue to believe we are in uptrend. Also there was no sign of topping in any of the indicators at the high of 9706. The decline from 9706 also appears corrective. Going by trend line and RSI, nifty likely to find support at 9550-9530 and move higher....