Market Analysis With Megh Mody

 Nifty hourly chart anticipated on 19th Sep 2020 Nifty hourly chart happened on 21st Sep 2020 I was bearish for Nifty when it was quoting at 11500+ and stated in my previous article that, " Nifty is all set to falter near till 11240-11200 levels over short term with immediate resistance placed at 11570(closing basis)." Nifty plunged below 10800 on the monthly Sept expiry but on the first day of the expiry week it entered in the price terrain of 11240-11200- Anticipated Happened. Here is the link of my previous article on Nifty click on it https://www.marketanalysiswithmeghmody.com/2020/09/nifty-elliott-wave-analysis_19.html Education Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/- Elliott and Neo Wave analysis is cond...

 MCX Silver hourly anticipated on 19th Sep 2020 MCX Silver hourly happened on 21st Sep 2020 In my previous article on MCX Silver I had mentioned that, "  Silver is firmly bearish and can move down to test 61000 levels with resistance at 70100 (closing basis)." Prices slumped by over 9% on a single day and achieved my target of 61000 - Anticipated Happened Here is the link of my previous article on MCX Silver click on it https://www.marketanalysiswithmeghmody.com/2020/09/mcx-silver-elliott-wave-analysis.html Education Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/- Elliott and Neo Wave analysis is conducted for 1 month, this is an advance technical course suited for professional traders. Twice a week, 2 hours will be g...

 Coal India hourly chart anticipated on 19th September 2020 Coal India hourly chart happened on 25th September 2020 In my previous article o Coal India dated 19th Sep 2020, I had mentioned that, " Coal India is negatively poised and can drag till 115-112 price zone over couple of weeks with resistance at 128 on closing basis." On 25th Sep, prices entered in the price zone of 115-112 levels which was my target, I was bearish from 123 levels in this stock.  Here is the link of my previous article about this stock click on it https://www.marketanalysiswithmeghmody.com/2020/09/coal-india-elliott-wave-analysis.html Wave Analysis is difficult but with practice and understanding by combining various tools and techniques it is easy to come out with fabulous results. I am going to take a webinar in October starting from 3rd which will be for one month, the details are mentioned below. Education Learn Technical Analysis in our 4 month course to help you to identify better trade setups....

 Nifty daily chart Nifty hourly chart In the daily chart, the index managed to retrace 80% of the previous fall (11800-11186) where it made a high of 11618 and is now showing signs of reversal. From past two trading session, prices are making new low, thus discontinuing daily candle up move, this is first sign of reversal. Also the falling channel resistance is intact which opens negative possibilities. As shown in hourly chart, on the last day of the week prices were not showing any dynamic move either side, but in the last couple of hours the supports were broken making the index weak. RSI is below the center line making the index weak near the resistance zone. As per Wave theory, prices have completed wave b in extracting triangle (a-b-c-d-e) as per Neo Wave and started wave c lower on Friday itself. This wave c can plunge prices close to 11200 levels where wave a has ended. The summation is Nifty is all set to falter near till 11240-11200 levels over short term with immed...

 MCX Silver hourly continuous fut chart In daily chart of Silver, prices which were moving in a sideways trend has now given a directional breakout. This also opens the possibility that it will plunge in day to come in. the next support lies near 61000 levels which can be tested. RSI has also relieved from oversold terrain and is all set to reverse the direction. From Waves perspective, the pair completed triangle pattern (a-b-c-d-e) and has started wave c lower, the possibility to test the end of wave a which is placed at 61000 is likely. The summation is Silver is firmly bearish and can move down to test 61000 levels with resistance at 70100 (closing basis). Education Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/- ...

 Nifty hourly chart anticipated on 12th Sep 2020 Nifty hourly chart happened on 16th Sep 2020 In my previous update, I had mentioned that, “ Nifty can move down to test 11350 it can be utilized as a buying opportunity with a support at 11290 and on the upside it can test 11600-11620 price zone .” Nifty made a low of 11383 and thereafter it made a high of 11618 which was price range mentioned last week, thus anticipated happened. Here is the link to my previous article on Nifty click on it. https://www.marketanalysiswithmeghmody.com/2020/09/nifty-elliott-wave-analysis_12.html Elliott Wave and other Wave theories is not simple to practice even though it is very simple in theory, but you can learn from me during this lock down in my one month webinar exclusively focused on Wave thoery and its practical application. This theory is a universal theory and can be applied on all free floating markets. Hurry, next batch starts from October 2020. Details are mentioned below. Education Lea...

 Coal India daily chart Coal India hourly chart In the above daily chart, the energy stock is moving in a lower highs and lower lows and also moving precisely in falling channel. At present it is hovering near the resistance of the channel and there a high probability that it will move down from current juncture. However, RSI has approached near to the oversold terrain, this is the level from it has reversed several times. In the hourly chart, prices have completed symmetrical triangle pattern and has broken all its previous supports, thus opening negative possibilities. There are high chances that prices will continue to plunge till 115-112 levels over short term. As per Wave theory, the stock is moving in a-b-c-x-a-b-c- pattern in which it has completed wave b in triangle and so wave c on the downside is pending which already has started. The summation is Coal India is negatively poised and can drag till 115-112 price zone over couple of weeks with resistance at 128 on clos...