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Elliott-waves

KALYAN JEWELLERS how much it can go up?Wave (c) of Elongated Flat Correction finished near 420 price level in KALYAN JEWELLERS. It is observed that whenever there is Elongated Flat Correction (wave (c) will go beyond 161.8% extension), the price further tends to go in Double Correction. Now, after every Flat Correction, price will go 61.8% retracement of entire move most of the times. So we can assume here that KALYAN JEWELLERS will continue in uptrend upto 61.8% (near 652 level) and here it may form wave (X) of Double Correction. Price may then reverse again to form wave (Y). This analysis is based on Elliott Wave theory and Fibonacci. This not any buying or selling recommendations. This analysis is for educational purposes only.
NSE:KALYANKJIL
by theprofityogi
NIFTY going up or down from here?NIFTY is standing at crucial point. Here are two possibilities that will decide further move of NIFTY. 1. If price breaks down to 24548.65 level, it will be confirmed that wave C of Zig-zag has started and this move will go minimum up to 24255.75. 2. If price takes support near 24635 (or just say, reverses from anywhere without touching 24548.65) it will be considered that wave B of Zig-zag is still under formation. In this case NIFTY may show some up move upto 25299, and 25485.85.
NSE:NIFTY
by theprofityogi