A double bottom below the 17000 mark it is, pending some price confirmation. If you think that the most recent decline is a 5 waves down and more selling is due then this alternate count will get vindicated when Nifty moves above 17490. That is the final confirmation that we have a bottom in place for the time being. Then we can think about the bullish alternate...
In this video idea I have discussed my view on nifty and bank nifty. Also shared an idea how we can find out potential stocks for investment(5-10 years).
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In this video i am trying to explain Nifty 1hour chart where there is a high probabilities of completion of Triple zigzag correction at 14151 and in Nifty 5min chart 14583-14656 can be the minimum target range for coming sessions.
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In this video i have explained 1hour chart which suggesting complex correction is going on from 15431 and may be it is completed as triple zigzag correction at 14151 or still continue. 14280-14360 was an immediate resistance range and nifty closed above that range. now this same range will act as a support range.
In 5min chart as of now its looks like a three wave...
EW analysis in daily, shows that wave (iv) seems to be over, and wave (v) started.
Also price was in descending channel, then it broke out with good volume, that marked the completion of complex wave (iv) correction.
here 1st tgt - 595, i.e wave (iii) peak,
if wave (v) is getting extended, then we can see higher levels - 640(.5), 680(.618).
- Triple-three complex corrective nearing completion (w-x-y-x-z)
- Expect the stock to bottom out between 275-280
- Can look for fresh buying opportunity from an investment horizon
- Hypothesis will be negated on breach below 260
Dear Reader,
The stock of Ajanta Pharma has witnessed a long "Bull Run" since its low of 6.04 made on 9th April,2009, and looks like there still remain space for its bigger "Bull Run" in years to come than what has been witnessed untill date. It will be too early to predict the future price of it as of now. However, I have tried my level best placing possible...
As per elliott waves principles, Nifty has completed its complex correction where two corrective patterns where formed. First was Flat correction pattern where 3 Waves (ABC) subdivdes into 5-3-5 correction (marked as W) and another is simple zig-zag correction where 3 Waves (ABC) subdivides 5-3-5 (marked as Y). Both were connected by inverted Zig-zag three waves...
