Piyush Chaudhry's Threads | Buzz Chronicles

FMCG's leadership and out-performance is not a good news for NIFTY itself, for NIFTY usually gets mired into Correctives during such phases.
One instance that stands out is the 2010-2013 period.
The inverse relationship can otherwise be deciphered easily.

Piyush Chaudhry
@piyushchaudhry

By the power vested in me and for all your love and wishes, here's my return gift to all of you.

#BHARTIARTL - Target 3000+

#ElliottWave

Piyush Chaudhry
@piyushchaudhry

US Dollar Currency Index #DXY has an Inverse Correlation with Commodity Index #CRB.
Any strength in DXY can be a Negative for Commodities.

Piyush Chaudhry
@piyushchaudhry

$GOLD @ 1816 expected to bounce till 1925-1995 zone next.

Piyush Chaudhry
@piyushchaudhry

IT Index, the original leader of the rally from Mar'20, now seems to be exhausted / giving up.
With a Hanging Man on Quarterly, it now seems to be breaking out of the rising regression channel post Tweezer Top candles on Monthly charts.

Since it may still go in a sideways corrective, a downward projection would make sense only if it breaks below Hanging Man's Low.

Piyush Chaudhry
@piyushchaudhry

Gaps and Probabilities.
A 2019 Tweet.

#GapTheory - Do the Gaps get filled?

As per Thomas Bulkowski's 2005 study Odds for filling of the following Gaps -
Common Gaps: >70%
However,
Breakaway Gaps: <5%
Runaway Gaps: <20%
Exhaustion Gaps: >70%

Categorize the Gaps correctly and Look for Counter Signals.
— Piyush Chaudhry (@piyushchaudhry) March 12, 2019

Piyush Chaudhry
@piyushchaudhry

"Gold / Copper" and "Gold / Wheat" - Both reaching other end of the Band from where it would be more in favor of Gold.

Piyush Chaudhry
@piyushchaudhry

Candlesticks are amazing.
One Doji signifies indecision.
Two Dojis are double the amount of indecisiveness.
However, Three Dojis are very very Decisive. #TriStar

Piyush Chaudhry
@piyushchaudhry

If you truly love her, let her go .. to 15000 and below.
If she loves you, she will come back at 16000 .. later this year or next.

Piyush Chaudhry
@piyushchaudhry

Nasdaq has now broken and closed below the Low of Two consecutive Hammers on Monthly Charts.

Piyush Chaudhry
@piyushchaudhry

On the completely other end of the spectrum is Energy Index.
Stopping At Nothing.

Piyush Chaudhry
@piyushchaudhry

#NIFTY - The Impulse from April Lows might terminate between 16500-750 zone, less likely to exceed past 16900 in the current run.
Can expect a pullback thereafter.
Not betting on any severe reversals at the moment.

#ElliottWave

Piyush Chaudhry
@piyushchaudhry

Pharma Index breaking below a slightly inclined H&S

Piyush Chaudhry
@piyushchaudhry

#ABBOTINDIA - One of the finest long term rising Structures.
Invalidation only below the blue rising trendline.

Piyush Chaudhry
@piyushchaudhry

just another level.
just another day.
crossed handsomely.

A C&H on INFY.
Once it crosses a horizontal previous High, it hasn't even retested the same level again. So far from 2020 Lows. #Fractal pic.twitter.com/Gw6TXjNqXy
— Piyush Chaudhry (@piyushchaudhry) March 31, 2021

Piyush Chaudhry
@piyushchaudhry

#NIFTY in Regression Channel.
A rectangular consolidation around the central Line of Best Fit, with no such reversal characteristics on display yet.
For it to revisit the upper band, odds would increase only on a break above ~17450.
Else, it's a slippery slope.

Piyush Chaudhry
@piyushchaudhry

$Gold is reaching a major Tipping point and the fate will be decided sometime in the next few Months.

Piyush Chaudhry
@piyushchaudhry

#Bitcoin has completed a Zig Zag formation from it's inception.
Break below Orange Trendline would confirm the termination.
Post that it can correct to the shaded zone by the given time frame.
It's been a major surprise that it all transformed into a Zig Zag and not an Impulse.

Other Technical factors:
• An H&S breakdown
• Break below Anchored VWAP from March 2020 Lows
• Volume Distribution

Piyush Chaudhry
@piyushchaudhry

#NIFTY
15 Months to this post. No change in the larger projections.

Long Term Chart of the Year.#NIFTY - Wave 5 (Cycle Degree) Target Zone of 25000-34000 by 2024-2027.
Reassessment on a breach below Blue Trendline. A breach is not a necessary invalidation. Depends on internals.
The dashed path is for representative purpose only. #ElliottWave pic.twitter.com/1xVY4OSr5T
— Piyush Chaudhry (@piyushchaudhry) December 19, 2020

Piyush Chaudhry
@piyushchaudhry

Gold looks set to head to New Highs.
$GC_F

Authors Piyush Chaudhry