SILVERSilver had broken support trendline and closed yesterday below 20 day moving average, which is clear sign of bearishness ahead. After bounce from lower end of falling channel it got rejection at upper end of falling channel, also RK's Momentum turned in sell mode, all other trend indicators like macd, rsi etc. are also suggesting same bias, According to wave structure we are possibly in wave Z of Z, which can lead to retest levels of $ 20.462 and if sustain below this then $ 19.80, On upper side RK's stop line may work as a major hurdle which is pegged at $ 22.550 to watch out for.
Over all wave structure could be like this one
Price had broken Support Trendline along with 20DMA level on closing basis
Price getting Declined by RK's Cloud and stop line on daily chart
RK's Momentum turned Negative on daily chart
Macd in weekly already in Negative mode
Macd in daily down tick converging to Negative mode
RSI in daily down tick and near 40
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Please Consult your financial advisor before trading or investing.
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Elliottwavecorrection
GOLDWhile correction gold's recent bounce rejected from RK's stop line along with upper bollinger band on daily time frame, as per wave structure we had marked it as wave X, Overall wave structure is still suggesting corrective phase only, along with trend indicator's support as a same bias by macd on multi time frame, stochastic on daily time frame, RK's momentum and also Dollar index resumes its rally, so Gold can see its slide to south direction near $1710, where wave Z can be equal to wave W. Once price closes below 20DMA which is pegged at $1842, then bear strength can show more power.
Gold has possibly started its wave Z
On daily chart histogram is decreasing
Weekly macd is already in negative way
Monthly macd is also in negative
Daily stochastic negative crossover
RK's momentum also not sustaining positive on daily chart
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Please Consult your financial advisor before trading or investing.
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COPPER - Elliot wave countsOverall Elliot wave counts on daily time frame.
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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NIFTY ELLIOTT WAVE FORECAST #nifty Hello Friends,
As per NIFTY ELLIOTT WAVE COUNT Theory #NIFTY can go up to 16200 to 16390 level and as per #elliott wave count we can short near 16200 to 16390 zone for the #target of 14500 to 14300 level down side.
Happy trading.
Elliott Wave Labelling Cycles :
Grand Super Cycle : ((I)) (((II)) ((III))((IV))((V)) ((a)) ((b))((c)) ((w)) ((x)) ((y))
Super Cycle : (I) (II) (III) (IV) (V) (a) (b) (c) (w) (x) (y)
Cycle : I II III IV V a b c w x y
Primary : ((1)) ((2)) ((3)) ((4)) ((5)) ((A)) ((B)) ((C)) ((W)) ((X)) ((Y))
Intermediate : (1) (2) (3) (4) (5) (A) (B) (C) (W) (X) (Y)
Minor : 1 2 3 4 5 A B C W X Y
Minute : ((i)) ((ii)) (( iii)) ((iv)) (( v)) (( a)) ((b)) ((c)) ((w)) ((x)) ((y))
Minutte : (i) (ii) (iii)(iv)(v) (a) (b) (c) (w) (x) (y)
Subminutte : i ii iii iv v a b c w x y
Nifty spot Possible Elliot wave counts and Fibonacci retracementIf market doesn't supports sentiments, then here are some possible elliot wave countswhich fits on current scenario.
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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NIFTY SPOTFinally, after 7 trading days Nifty closed positive green today, So now what's our trigger point to initiate fresh buying here, its nothing but mass psychological RK's cloud buy signal, above RK's stop line and also RK's momentum buy signal activated on 15 mins time frame, which is good enough to rely on.
Over all wave structure is also suggesting pullback is due before fresh fall down, once price give close above 20HMA which is pegged at 15370 currently only 20 points far from here, then definitely more action could be seen on chart.
Breakout in rsi on hourly chart along with uptick and rsi entered above 40 levels.
Breakout in macd noticed on hourly chart, also breakout in histogram noticed on hourly chart.
Current wave structure on hourly time frame
Breakout in histogram noticed on hourly chart
Breakout in macd noticed on hourly chart
Breakout in rsi on hourly chart along with uptick and rsi entered above 40 levels
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Natural Gas Analysis: Commodity TradingNatural Gas go hand in hand both in international market as well as Indian market. Here we present natural gas Elliott Wave Analysis. It is showing a 5 wave decline as wave A and again will go up for a three wave B, then again come down in a C wave.
You can correlate this chart with MCX Natural gas. Both are the same. Hope it will enlighten your commodity trading.
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NIFTY OVERALL WAVE STRUCTUREHere is possibilities of what does Nifty overall wave structure says.
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RELIANCE INDIn Reliance RK's momentum sell signal is already activated on daily chart, and yesterday finally it break down from that rising channel, and today we closed below 20dma along with close below RK's stop line which is at 2635, now we can say that yes we are in bearish phase.
As per Elliot wave structure also, wave E of the ending pattern ended in april and fall was wave i and recent bounce was wave ii and the next move that has started should be wave iii, which can go towards south direction where the lower end of the wedge is near 2300 and if wave iii is going to be equal to wave i, that level is near 2335, these are the possible levels to watchout for.
MACD in daily negative crossover
macd in weekly down tick
RK's momentum turned negative on weekly
rsi on daily down tick
price below 20 dma
RK's momentum sell signal activated on daily chart
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RBLBANKWe are currently in minor wave iii of wave C of wave Y, fall from 274 has become a complex correction, possibly a triple zigzag pattern, if wave Y is going to be equal to wave W then we can see 81.75, 58.85 and 40 levels too.
Overall wave counts on weekly chart
macd in monthly turned negative
macd in weekly negative
macd in daily also in negative
rsi in weekly down tick and below 40
price below lower bollinger of weekly
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
CHOLAMANDALAM INVESTMENTThis stock has broken down support trend line on daily chart along with good intensity of volume.
Stock is possibly forming a bearish head and shoulder pattern and currently, the neckline is at 603. close below 603 will confirm a head and shoulders breakdown which may the open the gates of 482 levels.
Also trend indicators like macd, rsi, rk momentum, rk mass psychological cloud, dmi and adx all are supporting same bearish bias, which increases our confidence to go short in this stock. Price is now trading below 20DMA and also below lower bollinger band which increases our negative bias as a momentum fall expected. The elliot wave structure suggests that the short to medium term uptrend has reversed because wave A was possibly a five wave decline, and corrective pullback wave B looks complete and now possibly wave C is unfolding. RK's momentum also given a sell signal.
If wave C is going to equal to wave A then 562 is minimum to go for, and if it goes 161.8% of wave A then we can see 482 levels ( head and shoulder pattern's size )
Breakdown with a good intensity of volume
Price also broken 20DMA and now trading below lower Bollinger Band
macd negative crossover on daily also below zero line
macd already running negative on weekly chart
RK's stop line along with mass psychological cloud suggesting to go short
RK's momentum sell activated on daily chart
rsi on daily downtick and below 40
dmi adx also negative on daily chart
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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Nifty Crack In progress in wave CNifty post forming Leading diagonal now has staryed wave C which is expected to reach below previous low 15671.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
INDUSINDBANKThis stock is forming head and shoulder pattern on weekly time frame, that can be a big bearish ahead. Right now we are at mid. Bollinger on daily chart, at 20DMA once its break and close below 20DMA then that would be a trigger point, Overall wave structure is also suggesting corrective structure ahead, after completion of impulse waves, we are in corrective phase as a zig-zag pattern as a A-B-C, possibly wave A and B are completed and right now we are in wave C of zig-zag, which can subdivide into 5 waves, if wave A and C are going to be equal then we can see 670 to 675, and on upper side nearest swing high and RK's stop line of weekly and daily would be a hurdles to watch out for, which are pegged at 1029, 950 and 925.
Overall wave structure on weekly chart
Reverse Divergence
Corrective wave structure
RK's Momentum sell signal activated
Mass psychological cloud and rk's stop line both in sell mode
Price at 20DMA, ready to break
Head and shoulder chart pattern in weekly, yet neckline to break
Macd in weekly already in negative mode
Macd in daily is down tick and converging towards south, that too below zero line
Rsi in weekly down tick below 50
Rsi in daily down tick below 50
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
LT Larsen & toubroLT shown selling pressure today and has been closed below 20DMA, RK's mass psychological cloud and RK's stop line both are indicating bearish scenario ahead, this stock is showing clear wave counts on daily chart, where after completing 1-2-3-4-5 impulse now its in corrective phase as wave W-X-Y, also chart is showing that W and X has completed now wave Y is unfolding as subdivided waves A-B-C. after completing wave A-B possibly we are in wave C, All this indicates wave C of Y is started, which should be unfold in five waves decline, and if C is going to be equal as A then it can show near 1354. Also all other parameters are supporting same, which are mentioned below with snap shots. All the key levels are mentioned on chart.
Overall wave structure and bias scenario
Price closed below 20DMA
Weekly macd is running negative
Daily macd is also down tick below zero line
Breakdown along with good intensity of volume on hourly chart
RSI on daily down tick near 40 area.
RK's psychological cloud along with stop line and also RK's signal all are suggesting bearish scenario.
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Disclaimer.
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
AXISBANKAxisbank has given good breakdown of 20HMA along with bottom of parallel channel in hourly and apart from theses it has also broken support trendline with good intensity of volume.
This stock has fallen below 20DMA which is pegged near 668, Also recent rally ended at RK's Stop line (key level line) near 700.
Overall wave structure is suggesting that corrective phase is going on as a wave W-X-Y, where after completing wave W & X, now wave Y is unfolding as a zig-zag pattern, and in wave Y possibly wave A and B has completed and now wave C is unfolding, If wave C is going to be equal to wave A then we are directed towards south near 540 areas.
significants
Overall wave structure on daily time frame chart
Rejection at RK's stop line along with RK momentum sell activated
RK's momentum is also turning negative crossover in daily chart
macd in hourly running negative
MACD in daily turning/converging Negative below zero line
MACD in weekly running Negative below zero line
RSI in daily down tick and near below 40
RSI in hourly down tick and below 40
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If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
LICHSGFINThis stock has aligned all sentiments in multiple time frames which are good enough to forecast next moves, and it indicates bearishness ahead.
Price trading below support line and also below major EMAs like 200ema, 100ema, and 50ema on Daily time frame.
Wave structure is also suggesting more correction ahead, after good up rally and high of june 2021, it started correction, which had formed Leading diagonal structure in wave A as a correction in month of April 2022, and after that wave B completed, Now possibly wave C is unfolding, Also this stock has seen a sharp correction without any major pullback, so in near term some pullbacks are also due which cannot be ruled out. 367 and 397 are major resistance on the way up to watchout, and in the short to medium term, the stock can possibly head south towards price levels of 235.
One can go short at these levels or on Rise of price (if any).
Overall wave structure is looking like this
Price trading below support line and also below major EMAs like 200ema, 100ema, and 50ema on Daily time frame.
RK's indicator confirms at big levels Monthly and weekly charts
RK's indicator confirms at big levels Daily and Hourly charts
Price trading below 20SMA (Mid. bollinger) on monthly chart.
Price closed below Lower bollinger on weekly chart, it indicates good strenght of bear power.
Price also closed below Lower bollinger on daily chart, it indicates good strenght of bear power.
macd in weekly bearish
macd in daily bearish
rsi in weekly down tick and now below 40.
rsi in daily negative
dmi adx is also negative
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However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
EWT: Apollo hospital Is Preparing For The Last Corrective MoveKey Level: 4475 & 5013
Apollo hospital had completed Impulsive wave ((3)) at 5935 and started corrective wave ((4)).
If the price breaks the H-line , traders can sell for the following target: 4437 - 4356 - 4239 below. These are the price levels where the price can u-turn for an impulsive wave ((5)).
A corrective wave is the construction of a three-wave and evidence of an impending impulsive wave.
Traders can also initiate a long setup only in price breaks the impulsive channel. I will upload a long trade setup after the accomplishment of wave ((4)).
COPPERCopper has given breakdown along with good intensity of volume, also formed 5 wave declined as a wave i after forming triangle as a wave X, wave ii has retraced very minor pullback, and now possibly wave iii is unfolding, which is making sentiments more bearish along with trend indicators supports in same bias, all the key levels are mentioned on chart.
Overall wave structure on daily chart
breakdown with good intensity of volume
RK's magic cloud sell activated in Daily
RK's magic cloud sell activated in hourly
macd in weekly running negative
macd in daily running negative
macd in hourly turned negative
rsi in hourly
overall key levels are mentioned on chart
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However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Do hugging lines proficient to hold bulls of nifty?Nifty is forming a bearish engulfing pattern on the daily time frame chart, and the price also declined from the control line of the parallel channel.
If the price sustains below the previous trading session, we can see a bearish move for the following targets: 17008 - 16867 - 16760.
Previous chart:
Selling Targets:
TP 1: done
TP 2: done
Nifty Correction - Probably Triangle Correction -18th April 2022Hi
The moves from 18350 seems all complicated, which might imply, that we are in a triangle correction.
In a Triangle correction, all the waves from Wave A to Wave E have an internal structure of 3 waves.
Types of Triangles
There are basically three types of triangles.
1.
Contracting Triangle
2.
Neutral Triangle
3.
Expanding Triangle
Each type is determined by which leg (Wave A, C or E) is the longest. Wave A, C & E are the waves in the direction of the trend for the pattern.
In a Contracting triangle, Wave A is the longest amongst Wave A, C & E.
In a Neutral triangle, Wave C is the longest amongst Wave A, C & E.
In an Expanding triangle, Wave E is the longest amongst Wave A, C & E.
Currently looking at the structure, we might assume we are in a contracting triangle.
Ina Contracting Triangle, Wave A is always the longest and most violent amongst Wave A, C and E followed by Wave C (which is almost always 61.8% of Wave A) and Wave E which must be at least 38.2% of Wave C but no more than 99% of Wave C.
Here we have not mentioned about Waves B and Waves D, in triangle correction...these 2 waves could be anything complex...they do not conform with any rules.
Only Waves A,C and E conform to the above mentioned rules.
As of now, we can expected a retrace of price to nearabouts of 16120 in 3 waves structure.
and D wave could be again anything not conforming to the rules, but
Wave E should be atleast 38.2% of Wave C.
Will update as and when necessary.
As of now, Lets wait for a C wave if this is really a Triangle correction.
Nifty on decline. Following wave pattern
Nifty is in 5th wave (drawn in orange).
Nifty completed all 4 waves fully and have taken the last wave which should move it to 15500-15800 level.
Nifty should reach this level somewhere in between May 09 and June 06 2022.
Inside wave of this 5th wave is drawn in blue. As per that the current upmove of Nifty should take it to 17400-17460 and then the decline should continue.
Disclaimer: This is just my view on Nifty. I'm not a registered advisor on market analysis. The idea is published only to spread my views on Nifty and gather feedback to cultivate healthy discussions. Please do your due diligence before investing your money. Remember, you're responsible for your investments.