Long
Hdfc ltd conditional trade...
Updated
Hdfc Ltd spot cmp 2500
Time frame :- Daily
Study : Elliot wave
Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move will start,, so it spends time in that reversal zone.
Wave 2 :- wave 2 is first corrective wave of impulse phase, in this case study second wave consist of 325 points and have retraced around 78.6% of wave 1,, general rule as per theory is wave 2 retraces around 50 to 88.6% of wave 1,, the retracement of wave 2 is sharp in nature and are of very short period,, and wave 2 low can not be below the low point of the start of the impulse phase..
Wave 3 :- wave 3 is second impulse wave of impulse phase,, in this case study third wave consist of 1268 points in terms of points and 78% in terms of percentage,, 3rd wave is longest and strongest wave of impulse phase,, once price breaks out above high price of wave 1 traders jumps into the trade and wave 3 is extended wave of wave one,, it can extend from 1.618% to 3.618% of wave 1 in both terms of points and in terms of percentage,, in this case wave 3 have extended around 2.618% of wave 1 in terms of price and percentage.. wave 3 also consist of minor impulse phase which is shown as part wave of 1-2-3-4-5 of wave 3.
Wave 4 :- wave 4 is second corrective wave of impulse phase, in this case study forth wave consist of 542 points and have retraced around 38.2% of wave 3,, general rule as per theory is wave 4 retraces around 23.6% to 50% of wave 3,, the retracement of wave is slow and in zig zag manner,, generally triangles and flats,, and are time consuming,, and wave 4 can not go below the peak levels of wave 1,, in this case study wave 4 is in form of symmetrical triangle,, descending triangle and on smaller time frame last leg have bullish wolf wave formation,,
Wave 5 :- Wave 5 is third and final impulse wave of impulse phase, in this case study we are pre assuming the wave 4 have matured and wave 5 will unfold from this levels,, reason for the same is breakout from symmetrical triangle formation of wave 4 , breakout from wolf wave on smaller internal wave formed in wave 4,,bullish divergence in RSI indicator,, MACD on verge to give positive cross over and breakout from falling trend line,, this all are consideration for wave 5 to unfold,, now wave 5 are ephoric in nature, move are in form of parabolic steep and in rising wedge formation,, wave 5 are equivalent to wave one and are 61.8% of wave 3,, if we go as per this calculation wave 5 can end around 3110 to 3190,, as per price action breakout of symmetrical triangle gives same amount of move after breakout that will lead to 3110,, now as per wave 1 in terms of points wave 5 will be of 480 points than counter may head towards 2840 levels,, and as per % terms of wave 1 move of 32% would lead counter to levels of 3190,, which also coincides with 61.8% of wave 3,,
Much more can be included in this but will not be able to do so,,
Note :- personally holding this counter from 2400 levels..
Good bullish formation..
Time frame :- Daily
Study : Elliot wave
Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move will start,, so it spends time in that reversal zone.
Wave 2 :- wave 2 is first corrective wave of impulse phase, in this case study second wave consist of 325 points and have retraced around 78.6% of wave 1,, general rule as per theory is wave 2 retraces around 50 to 88.6% of wave 1,, the retracement of wave 2 is sharp in nature and are of very short period,, and wave 2 low can not be below the low point of the start of the impulse phase..
Wave 3 :- wave 3 is second impulse wave of impulse phase,, in this case study third wave consist of 1268 points in terms of points and 78% in terms of percentage,, 3rd wave is longest and strongest wave of impulse phase,, once price breaks out above high price of wave 1 traders jumps into the trade and wave 3 is extended wave of wave one,, it can extend from 1.618% to 3.618% of wave 1 in both terms of points and in terms of percentage,, in this case wave 3 have extended around 2.618% of wave 1 in terms of price and percentage.. wave 3 also consist of minor impulse phase which is shown as part wave of 1-2-3-4-5 of wave 3.
Wave 4 :- wave 4 is second corrective wave of impulse phase, in this case study forth wave consist of 542 points and have retraced around 38.2% of wave 3,, general rule as per theory is wave 4 retraces around 23.6% to 50% of wave 3,, the retracement of wave is slow and in zig zag manner,, generally triangles and flats,, and are time consuming,, and wave 4 can not go below the peak levels of wave 1,, in this case study wave 4 is in form of symmetrical triangle,, descending triangle and on smaller time frame last leg have bullish wolf wave formation,,
Wave 5 :- Wave 5 is third and final impulse wave of impulse phase, in this case study we are pre assuming the wave 4 have matured and wave 5 will unfold from this levels,, reason for the same is breakout from symmetrical triangle formation of wave 4 , breakout from wolf wave on smaller internal wave formed in wave 4,,bullish divergence in RSI indicator,, MACD on verge to give positive cross over and breakout from falling trend line,, this all are consideration for wave 5 to unfold,, now wave 5 are ephoric in nature, move are in form of parabolic steep and in rising wedge formation,, wave 5 are equivalent to wave one and are 61.8% of wave 3,, if we go as per this calculation wave 5 can end around 3110 to 3190,, as per price action breakout of symmetrical triangle gives same amount of move after breakout that will lead to 3110,, now as per wave 1 in terms of points wave 5 will be of 480 points than counter may head towards 2840 levels,, and as per % terms of wave 1 move of 32% would lead counter to levels of 3190,, which also coincides with 61.8% of wave 3,,
Much more can be included in this but will not be able to do so,,
Note :- personally holding this counter from 2400 levels..
Good bullish formation..
Trade active
Hdfc ltd from 2500 to 2680,, in one day180 points doneee
Trade closed: target reached
Hdfc ltd from 2500 to 2760260 points done
now for further upmove it need to give 2 consecutive daily close above 2780 levels,, than can give move towards 2900-3000 levels
personal have booked total long at this levels
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