Stock-Holmes

Stock-Holmes

Guys... I am sharing my analysis of Nifty over a longer time frame. The Elliot waves are marked on the chart. Nifty is currently in the wave 3 of the primary cycle. This primary cycle runs in smaller intermediate waves. Wave 1 started on April 2023; Wave 3 from November 2023; Expecting wave 4 to end by April 2024, and we can expect wave 5 to begin from May...

Stock-Holmes

Refex industries- A top-performing small-cap stock in the commodity chemical sector. PE ratio: 13.9; ROE & ROCE > 40. A pennant pattern breakout can be seen in the day chart. The stock price has also taken support at the 200ema. A follow-up green candle will confirm the uptrend. One can buy and hold the stock after confirming the breakout. My stop loss...

Stock-Holmes Updated 

In recent days, we witnessed a decent fall in bank nifty. Thanks to the Elliot waves, we could make some decent profits in the market. I trust you've also been able to capitalize on these market movements. Looking ahead, I'd like to share my perspective on the possible market movement based on Elliot waves. I presume wave 3 is likely to end soon on the...

Stock-Holmes Updated 

I sincerely appreciate all the support thus far! Here are my insights on the Bank Nifty through Elliot Waves. CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades. We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The...

Stock-Holmes Updated 

We witnessed a 650 points fall in bank nifty, but it didn't reach the target levels predicted. Today's fall could be the Vth wave of wave 3. The day ended with wave 4. So, over one or two days, we should see a more significant fall in wave 5, taking the index to the support levels (45815 & 45660). The wave numbering is shown in the charts. The wave counting...

Stock-Holmes Updated 

As per Elliot's wave pattern on the downside, Bank nifty is currently moving in the 4th wave. The structure formed is one of the classical patterns of wave 4 - A horizontal flat. We have had enough volatility recently (again, a classic of wave 4), and now it looks like the final leg of wave 4 is ongoing. We could see a resistance trendline from which Bank...

Stock-Holmes

21830 remains a stiff resistance for NIFTY. After a good bull run, I expect a decent correction in our markets. The euphoria attached to Ayodhya and the Budget is over now, and the Market has to face the next uncertainty in the form of Elections in a few months. As per Elliot wave analysis, Nifty is likely to fall by 1400 points over the next ten days. (I'm...

Stock-Holmes Updated 

As per Elliot wave analysis, nifty has probably completed minor waves 3 & 4 of intermediate wave (3) of primary wave 3. (Have marked in the chart) Today nifty should complete downward wave 5 (likely to end at support zone 19100 to 19150). Following which the intermediate wave (4) is likely to begin which can rally to 300 to 400 points. Will update as nifty...

Stock-Holmes

That was too much of a rally for wave 4. Shorting for a 1:4.5 risk-reward trade. Target and stop loss are mentioned in the chart. Expecting wave 5 to fall stronger than the up move.

Stock-Holmes

Nifty is currently in the downward wave three correction. We have witnessed two red rays, which are part of wave 5 of the downward wave 3. So, we can witness one more red candle day that can complete wave 5 (of the larger wave 3) on the downside, and then the market should rally up in wave 4. Beware of the major wave 5 correction which is likely to begin in the...

Stock-Holmes

Today we witnessed a bear run resulting in a big red candle in bank nifty. In smaller time frames one can notice the day's low was above yesterday's low level. The last two day's price action can be fit into waves 1 & 2 of the next up trending wave. In that case, we can expect a gap-up/positive opening in our markets (SGX is minus 50 points right now) and a...

Stock-Holmes Updated 

The bull run we are witnessing may be wave 4 of the downward rally in Nifty. In that case, we may expect a collapse from here. Currently nifty is trading close to 18100 which corresponds to 0.618 levels of the downward Elliot wave. This level should be a stiff resistance for nifty. Next week market may open with a gap up and can get sold into. Day closing above...

Stock-Holmes Updated 

I have been mentioning about the iminent sell off in the IT sector in the last few posts. Technically Elliot wave 5 has started in IT stocks. The bull run in the last 2 or 3 weeks has created enough liquidity for institutions to sell their IT stock holdings. Shorting LTTS for a target of 2800.

Stock-Holmes

We might still be in wave 4 of the Primary Elliot wave. US markets rallied last night, so we may expect a gap-up opening of around 100 points. 17220 - 17270 zone might act as a strong resistance zone (0.5 to 0.618 Fibonacci retracement of wave 3) Quadruple witching refers to a date when stock index futures, stock index options, stock options, and single stock...

Stock-Holmes

Maybe we are at the beginning of a downtrend. Until the pattern unfolds, the best way to trade is to do only intraday without carrying positions overnight. As per this wave counting, wave 3 should fall at least up to 16700 (equal to the length of wave 1). If wave 3 extends, it can go to 16350 (1.23 of wave 1) or 15800 (1.618 of wave 1). I'll be trading...

Stock-Holmes

A downward Elliot is clearly seen. Day 1 (Monday) - we saw wave 1 on the downside Day 2 (Tuesday) - started with the end of wave 1 and wave 2 rallied upside Day 3 (Thursday) - Wave 3 movement on the downside Day 4 (Friday) - Started with the end of wave 3 and wave 4 consolidated Day 5 (Monday) - Wave 5 Expecting a flat opening or a slight gap up opening and...

Stock-Holmes

Studying the Elliot waves in 15 min time frame. Waves 1,2 and 3 of the larger wave 3 are done. Expecting a pullback and consolidating wave 4 for a variable duration before nifty ultimately falls to 17550 and then to 17485 levels. Stoploss- strong closing above 17700.

Stock-Holmes Updated 

After a wonderful short covering rally, nifty is likely to consolidate next week with a negative bias. The trading range would be 17700 and 17400. 17700 stands at 50% Fibonacci retracement of the previous fall and 17400 lies at the support trend line. Strong closing of 30 min candle above 17750 invalidates this view. Happy trading guys.