Reliance: 4H Timeframe analysis If wave ((4)) is completed at 2816 then we are on the (2) wave of wave ((5)) or We are still on the sub-waves of wave ((4)).
stay tuned for new Update.
Diagonaltriangle
#CRUDEOIL #OIL #MCXCRUDE - set for a wave C downThe upward to sideways moves over the last few weeks seem to have ended with wave Y. If prices trade below 3005, below the diagonal triangle we should be set for a large downmove. This could be a move larger than the one that started in Sep and lead to 2600 levels. Will track as it progresses
Crudeoil in USD has the same pattern and should be headed the same way
Triangle Ending Diagonal PatternElliott waves Ending Diagonal pattern (ABCDE)
Short entry @ point E.
Target Support trendline & then 0.618levels.
#Crudeoil Diagonal triangle completed, now headed downCrudeoil sports clear 5 waves with wave 5 taking the form of a diagonal triangle. Crudeoil should head down for a few weeks to months.
Sun Pharma completing an irregular flat correctionSun Pharma may have completed what looks like wave C of an irregular flat correction on March 22nd. The high of 479.70 made on March 22nd is very close to the 1.272 extended level of 480.10 which is typical for an irregular flat correction.
The wave c looks like a diagonal triangle. If so we should see swift selling in this counter that may reach the Jan lows of around 370 by April end/ First Half of May. A break below 461 would further reinforce this view.
The pattern would stand negated if we cross 500. A tighter stop can be placed around 481 level for immediate short positions.
TVS Motor Breakout Wedge Setup (Sell)It is been observed that the price action is trending up in a channel on Daily chart. Now, on 30 Mins chart, it formed a wedge pattern or diagonal triangle and breaks out from that and moving further down. As per the Fibonacci estimation, I would target it to 38.2 % Fibonacci.
Target: 372
Stoploss: 394
Cadilac Health Care - Forming Diagonal TriangleThe price action is trading a diagonal triangle and it is urge of a breakout on either side of it. Today's close shall determine the furture price action in this. Keeping a close eye on it as the breakout on either side shall reward in good returns.
