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[AlphaT]

TVSMotors - If not breaks 430 zone, lets expect excellent move above 435 because of compression. Will track this one. View attachment 40196

Agreed, but problem is on the Daily. Take a look and let me know what you think?

 

[AlphaT]

@AlphaT View attachment 40195 Siemens PA confirm and looking good for 1240 level?

This type of FTR should be traded with confirmation only since odds are slightly lower compared to the one that it reacted to (flag engulfing FTR).

 

[AlphaT]

TechM too showing compression, so I checked Nifty IT index. IT index has broken the zone. If IT index confirms the ERC in coming days, Mindtree and TechM both may run North , else SOUTH . Let's keep watch for something big. View attachment 40192
View attachment 40193

Good observation!

 

[AlphaT]

@dakolkar - One task for you, if you are interested to take it up?
Could you do an analysis on the daily chart of Nifty Midcap index - CNXMIDCAP 100

 

[dakolkar]

Agreed, but problem is on the Daily. Take a look and let me know what you think?

Sir, IMO on daily 430 is last helpline for bulls before 400 level.

 

[dakolkar]

@dakolkar - One task for you, if you are interested to take it up?
Could you do an analysis on the daily chart of Nifty Midcap index - CNXMIDCAP 100

Sir, is it ERC confirmation?

 

[AlphaT]

Sir, is it ERC confirmation? View attachment 40204

No this is not an ERC because the move out from the marked zone failed to engulf the previous high..

 

[AlphaT]

Sir, IMO on daily 430 is last helpline for bulls before 400 level.

View attachment 40203

The problem with this is that it's a 6TB to the original ERC/FTR zone! That is why I asked you to look at the Daily..

 

[dakolkar]

The problem with this is that it's a 6TB to the original ERC/FTR zone! That is why I asked you to look at the Daily..

Understood now

 

[dakolkar]

No this is not an ERC because the move out from the marked zone failed to engulf the previous high..

Can we mark current zone as POI?