How 'bout that in Nifty?I am afraid if it's unfolding in a series of 1-2s.
I may be wrong, but it is what it is.
4thwave
IDFC FIRST BANK | Double Bottom | 62% RetracementEntry@74, SL-70,TG-84/98
IDFC First Bank Stock has complete 4th Wave and is now moving into 5th wave.
Island Top - Reversal Pattern, Rsi DivergenceIsland Reversal,
A significant gap up, or sharply higher price at the open, follows an upward price trend, then reverses to a bearish price trend.
Rsi divergence implies a change in relative strength as compared to price movement.
The price has come out of the regression channel.
Probably we are in the 4th wave, which means we have completed the top of the 3rd impulse wave. This would be confirmed if it closed below 21550 in the coming weeks.
AMBUJACEM- Relative Strength says SELL!Attached: Ambuja Cements/ Nifty 50 Daily Chart as of 19th April 2023
A Classic Triangle Setup is visible in the above Ratio Chart
The Breakdown of this Triangle would result in the Ratio Selling Off (AMBUJACEM accelerating its Underperformance vs. Index Nifty 50)
Hence this makes the Stock a Sell Candidate based on Weakness
Well if you also look at the Price Chart which I have not shared here but it also has a Classic Triangle Setup with a Bearish Bias just like its Ratio Chart
Bata India (Daily) - Head & Shoulders Chart Pattern Bata India (Daily)
Chart Pattern - Head & Shoulders
Wave Count - 4th (seems to be in the C wave of ABC / ABCDE)
Indicators/Oscillators:
MACD of the weekly is downtick
MACD of daily is downtick and NCO too with solid red bars of the histogram
BB about to get challenged on the lower side (BBCD)
RSI is below 40 in oversold zone
Stochastic 14,3,3 is NCO and about to leave the band for oversold zone
-DI is above +DI in Directional Movement Index (DMI) indicating downtrend and ADX is above 15
Target:
During the fall, it has a major resistance at 1686.55, this is the same level on the chart at which it had faced resistance twice earlier while climbing up and hence could be the first target while shorting
Caution:
Liquidity is a serious issue, please check the OI data in the Options Chain in case you wish to do options trading or implement a vertical spread like Bear Call Spread
LTI (Daily) - Head & Shoulders Chart Pattern Larsen & Toubro Infotech (LTI) - Daily
Chart Pattern - Head & Shoulders
Current Market Price* - 6613
(*at the closing on the date of posting this chart pattern idea)
Target 1 - 6268
Target 2 - 5666
Price has entered the 4th wave in the daily timeframe as per the Elliott wave count
-DI is above the +DI and the ADX is above 15 in the Directional Movement Index (DMI)
On the weekly tide too, all indicators / oscillators are favoring shorting
NESTLE INDget ready foe a dip in NESTLE IND
it will reverse from between 12000-14000 buy @ dip nxt target will be more than 8000 points
Dollar Index -(Rise & Collapse-Part 1) Proposed Ending DiagonalDebut Idea for Dollar Index
Shown in oval shape was 1st leg of the triangle which topped out at 103.82 Published on 24th April 2016.
Proposed triangle for wave-4 ( currently we are in final leg- expect rise holding above 89.20) & later "collapse" in wave-5 ( proposed ending diagonal)
24th April 2016 (Click the Idea)
Finolex Cables Upward parallel channelStock currently in upward channel and may break. Since Wave 4 in parallel channel usually end between wave 1 and 2.
Long on dip towards 250-30 Stop loss is wide 190
Target of Wave 5 350
Further long term targets based on trend lines 430 and 615
Disclaimer: Calculated and plotted values may differ little with actual stock movement. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing/trading.
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2 ways to trade #Reliance on the long sideReliance seems to be in a 4th Wave Elliotwave triangle. An agressive trader could go long now with a SL below the wave e ( red line) . A conservative trader could wait for the blue line above to be broken ( wave d high) and then enter. Thrusts out of triangles are swift and sharp
Nifty 2 hourly chart 4th wave in progressNifty to probably hit 10240 and fill gap
Just a study based on Elliot wave and Fib levels. Not recommended to take any position on this analysis
