deepakktiwari

deepakktiwari

Moving forward 16.40 will be critical. A breach above, if happens, will take it out of its down trending channel.

deepakktiwari

Several trend lines meeting at 38600 area making it a major magnet for sellers. ES has been in slow rip and has been respecting upper channel trend line so looks like its time for a healthy correction.

deepakktiwari

As shown in the previous chart, it did hit my 127/128 target. Now there are two possibilities. One is straight up if it pushes inside upper channel and 2nd is it gets rejected here and looks for a back test before moving higher. My bias is a back test below from this point.

deepakktiwari

DEVYANI has broken out of its down trending channel and possibly looking for 127 as a quick upper target.

deepakktiwari

Purple line is a big rejection point and IMO, instead of pushing up, this is the time for exhaustion as it has done historically many times. The true bubble is always above it like it traded there in 2000 dot com euphoria. I do expect markets to show bigger correction at this point. This idea was posted on Twitter on 16th of Aug.