ABCAPITAL Elliott Wave StudyTF - Monthly -
Aditya Birla capital had broken out descending trendline at 80 . But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95
As per the monthly chart, AB CAPITAL can take support from 78.05 .
Three reasons to consider this level:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8 % at 76.45 , which is demand zone.
If AB CAPITAL breaks down to 90 , then it will come to take support near 78.05.
TF: Daily -
AB CAPITAL has completed corrective waves A & B . Wave C of wave 4 is about to completed.
We are getting similar confirmation that if AB capital breaks down to 90.05 , we can expect a support level of 78.05 .
As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.
Wave 4 of lower degree is a 78.50 . We got the confluence zone as 78.05 . After taking support level, AB CAPITAL will start its upward march.
I will update more information soon.
Thank you!
@Money_Dictators
Elliotttwave
Bank Nifty (Intraday Update for Monday)Hello Everyone
This is an continuation update from yesterday forecast, likely for 1-2 days view for bank nifty .
This structure will be cancelled when invalidation level will brake.
you can use 1hrs time frame 2x ATR as a stoploss.
EURUSD: Finally TOP has been spottedShort with SL of recent highs for target area of 1.1700 which is 38% retracement level or 1.1600 which is previous fourth.
