It seems now we are in Wave 4 of a larger degree. Earlier it was updated and our Wave 3 TGT was 11800 and it has been achieved. Let us now wait for the confirmation
Disclaimer: Just for Study purpose, trading/investing not recommended on this analysis it can be wrong.
Reliance gives classic examples where it shows similar targets with help price action and Elliot waves.
Inverse Head and shoulders breakout target seems to reached
As 3rd Elliot wave is extended 5th Wave should be normal (not extended)
During Run up it...
This is for educational purpose. Shall ideally go for next wave. Also it is at bottom of downtrending channel. Safest risk reward. buy near 1250-1255 sl 1240 trgt 1293. Above redline can extend upto 1363.
A Reversal In The Stock Is Visible With:-
1) Trend Line Breakout
2) RSI Divergence
3) Volume Confirmation On Breakout.
4) Loss In Lower Swing Strength.
Note:- This Is Only For Education Purpose.
Take Action After Consulting Your Registered Advisor.
Video Idea Shall Have Quick Review
Hindalco
BankNifty
Nifty
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Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns....
It has turned from a Bullish Harmonic Butterfly and could now retrace till 128/131 as long as it holds above 122.
Butterfly Patterns are 5 pt Harmonic reversal/bounce set ups based on specific Fibonacci Ratios.
It has come to an Ichimoku Kumo support on daily time frame. In lower time frame it has given signs of reversal. It could retest 378 / 390 / 410 if it stays above 362.
Ichimoku is a Japanese study based on specific Moving Averages wherein just like Dow Theory the analyst with a one glance deciphers if price is above Kumo or below looking for an equilibrium set up
NSE:COALINDIA
DIFFERENT PRICE PATTERN S FORMED OVER THE PERIOD IN COAL INDIA A VERY LONG DOWN TREND, FORMED A SYM TRIANGLE, AND A LONG TIME PARALLEL CHANNEL FORMATION.
