Reliance set for fresh RallyI am not too optimistic about Reliance in short term, however, I feel that Reliance has made 1-2-1-2 structure, and all set for a fresh rally starting Thursday. It should be a quick rally to cover about 200 points or 5-6 percent, before the budget, post which it should enter sideways zone..
Hourly Chart can show that its resting on 78% retracement, and a clear AbC wave.
Targets -
3275
3350
3450
3rdwave
Biocon might surprise Warning! Stop loss is deep 15-20%
Biocon reported 3x profit in Sept23 quarter. As per charts its could have ended long drop from all time high.
Elliott wave count added on charts.
DISCLAIMER:
There is no guarantee of profits or no exceptions from losses.
The stock and its levels discussed are solely the personal views of my research.
You are advised to rely on your judgement while investing/Trading decisions.
Seek help of your financial advisor before investing/trading.
Investment Warnings:
We would like to draw your attention to the following important investment warnings.
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Biocon (Daily) - Inverted Head & Shoulders Chart Pattern Biocon (Daily)
Inverted Head & Shoulders Chart Pattern
Currently the price seems to be in the last leg of the 2nd wave
May enter the 3rd wave shortly and do the breakout of the neckline of the Inverted Head & Shoulders chart pattern being formed
We'd actually be bottom fishing the 3rd wave in this case or the right shoulder of the Inverted Head & Shoulders chart pattern
Once 2nd wave is completed and the bullish reversal comes, you can calculate the target for the 3rd wave using the Trend-based Fib tool (1.6 x when you click from starting point to top of 1st wave and then on the bottom most point of 2nd wave)
Or you can simply take the depth of the head as the target
On weekly tide, there is a buy confirmation in place
Subex (Daily) - Inverted Head & Shoulder Chart PatternSubex (Daily) - Inverted Head & Shoulders Chart Pattern Formation
Target - Generally you can take the depth of the head
But the first conservative target would be 70.2
Seems to be in 3rd wave on the daily timeframe
RSI is above 60
Stochastic 14,3,3 is in positive crossover
+DI is above -DI and ADX is above 15 in the Directional Movement Index (DMI)
Seems to be forming cup and handle chart pattern on the monthly time frame
Mindtree (Hourly) - Double Bottom Chart Pattern Mindtree (Hourly)- Double Bottom Chart Pattern
Current market price - 4653
Target - 4893
Bollinger band is challenged on the upper end
RSI is above 60
Stochastic 14,3,3 is in positive crossover
ADX is above 15 and +DI is above -DI in Directional Movement Index
On the daily tide, all indicators / oscillators are positive too
MACD of the daily tide is uptick
Elliott wave count
Price is in 3rd wave in hourly timeframe
Price is in 5th wave in daily timeframe
HDFC Bank (Hourly) - Inverted Head & Shoulders Chart Pattern HDFC Bank (Hourly)
Chart Pattern - Inverted Head & Shoulders
Target - 1610 (Depth of the head)
Seems to have retested the neckline after the breakout
Has entered the 3rd wave in hourly and 5th wave in daily
RSI is above 60 and the stochastic 14,3,3 is in positive crossover
Bollinger band is challenged on the upper end
+DI is above the -DI in Directional Movement Index (DMI) with ADX above 15
All indicators / oscillators are positive in hourly and daily time frame
On weekly timeframe, thought the MACD is downtick but we have an early buy signal of stochastic 5,3,3 being in positive crossover
MAHINDRA & MAHINDRA FINANCENSE: M_MFIN The upcoming rally would be for such finance stocks. Its is no doubt a fantastic company in the hands of a very responsible man.
Currently the stock is in 2nd Wave of its 3rd Impulse. It is a really good time to accumulate the stock till 131, for the minimum target of 250 level. And in long term it can touch it till 470.
Chart and Analysis
ADARSH DEY
TFULE GOING TO 2 USDT, TFUEL POTENTAIL UPSIDE MOVEMENT FROM HERETechnical analysis:
. TFUELUSDT is IN up trend, the beginning of an uptrend is expected from here.
. The price is trading above 21- DMA as well as 50 DMA
. TFUELUSDT is in ABC correction phase , 3rd wave coming soon
Take Profits:
TP1= @ 0.88
TP2= @ 1.273
TP3= @ 1.96
SL= below 0.40 at daily closed
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3rd wave may be start avobe 39
For safe trader - buy avobe 43 rs
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have some risk and buy it for long tem - more than a year
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thanks
HIKAL LTDENTER ONLY AFTER 195 -200 ___ FOR SHORT TERM
so many confirmations are there .... in monthly time frame it has formed head and shoulder pattern
flag ---- in daily time frame
and has taken resistance from 185 ...
FOR INTRADAY YOU CAN ENTER @ 186
with stop loss of 6 rs and target of 195 (only for risky trader)
according to my study it is a pharma company and NIFTY PHARMA will be also bullish for more 1500 points apprx .
and now it is above 50 and 200 DMA and SMA so all over technically it is busllish
and according to EWT it will enter in 3rd wave after 200
but financially it is very weak but you can go for short term above 195-200
Adani Ports- Northbound to 1000- A Potential 20% Upside From CMPHi folks,
Adani Ports may be headed North to 950 - 1000 levels after the recent surge yesterday. This could be a 3rd up of the Final Fifth (of a large degree), so tread cautiously with a strict SL. If things pan out as per plan, we may see our target in the coming weeks, which is a cool 18-20% upside from the current levels.
But again, please work with a tight SL since we may be dealing with a Final Fifth (of a large degree).
Please don't forget to 'Like', or a word of encouragement would be fulfilling too, for the hours of research that I put in before I publish any of my work :)
Cheers !!
Note: This view shall be invalidated if the price goes below 795 with force.
Buying Pennant Breakout - Riks/Reward 1:4+Entry at 662
Stop-loss 632
Target 788 ( Set as 161.8% of Wave1 )
Risk/Reward 1:4+
Voltas is in a strong uptrend. Price is trading inside an upward channel and formed a bullish pennant. Pennants look very much like a symmetrical triangle but are typically smaller in size, ( volatility ), and duration.
Voltas is in a 3rd Wave and Impulse wave 3 often is the wave with the biggest move. So, usually, wave 3 will move up above or at the upper line of a trend channel. In a rising impulse wave, it is common for the price to reach 161.8% of wave 1.
Deepak Nitrate in Third Elliott Wave with Cup and Handle breakDeepak Nitrate shows Bullish bias for 3rd Elliott wave target 870. Conversely it's cup and handle breakout with cup height ~260+600(breakout point) =860. Stoploss 550. Entry on any dip towards 600.
If Wave 4 retraces 0.382=712 then wave 5 target 960-70
If Wave 4 retraces 0.272=772 then wave 5 target 1032
Calculations and actual movement in stock may differ ask your financial advisors before investing and never trade without stoploss.
Hit like button and follow. Sorry for messy chart ;)
Firstsource Solutions Third wave with Cup and HandleFirst source solution (FSL) looking for breakout from parallel channel. Third Elliot Wave has been started which can be confirmed by volume blast.
Formed cup and handle pattern which is near breakout point.
All dips towards 42.3 - 40 are long opportunity Stop Loss 34.9 on daily closing basis. Check chart for more details.
Third wave target 58
Fourth Wave target 47
Fifth Wave 61+
All details marked in chart. Stock may not follow exact plotted numbers there could be small variation.
Disclaimer: Trading based on this analysis may not be suitable for all investors/traders.
Consult your financial advisor before trading/investing.
ApolloTyres Breakout.. Go Long for Higher Targets!!ApolloTyre has given a Breakout from its Correcting Trend Channel Indicating the upmove has started and confirmed on the upside.. One can go long the stock at current levels or on some corrections retesting the breakout levels around 170 with Stoploss around 152 and long term higher targets of around 270/290. The Third wave has just started and may or may not give chance to enter on corrections as it will be fast move on the upside with several gap up days. This is just my view on the stock.
Happy Trading!!
Siraj Hudda, CFTe
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