Wednesday, October 22, 2014

DLF (by EOD Oct 22)


Monthly chart:
1) moving towards channel bottom. (E).
2) E seems to be around 86.
3) If I do numbering for WolfWave in the monthly chart, target looks scary and it is pointing sub 50 level.

Hour chart:
1) 5th wave has started.
2) 161.8 retracemnt of 4th wave is: 86.

5min chart:
1) 1-3-5 forms a super resistance line.
2) Potential ST target per Wolf-Pattern is: 114 (approx)
3) For the up move (2 to 3) (ie,100.1 to 123), 38.2%, 61.8% and 161.8% retracments are: 114.3, 109, and 86.

Monday, October 20, 2014

ITC (by EOD Oct 20)


Observations: (in continuation to ITC-Oct 17 EOD observation):

Weekly chart:
MACD-Sell signal in the developing candle.

Day Chart:
Still moving inside the down channel. Closed below 15-WMA curve.
61.8% retracement for the upmove from 312.50 to 379.90 is 338.25. (= possible target).

60 min chart:
MACD-sell signal in the last candle.
Whole day movement was inside a new down orange channel.