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Elliottwavecorrection

Elliott Wave Triangle: The Black 2024 Effect Elliott Wave Triangle: The Black 2024 Effect – The Calm Before the Breakout The Endless Loop of Black (2024) Movie and BankNifty In Black (2024 ), a couple is trapped in a never-ending time loop, going over the same path again and again. The BankNifty Index seems to follow a similar pattern, moving in waves that repeat familiar highs and lows. This strange similarity pulls us in, as both the movie and the market seem to be on a path that’s both puzzling and exciting. A Powerful Journey Through Time Black (2024) is more than just a movie—it’s a story about love, destiny, and time’s unbreakable cycles. With powerful direction, the movie takes us on a deep journey, revealing hidden truths with each loop. In the same way, BankNifty’s wave-like patterns give moments of clarity, only to change direction again, much like a never-ending dance in the market. Could the U.S. Election Be Fueling This Pattern? BankNifty’s cycle might also reflect the high stakes of the U.S. Presidential Election . With Kamala Harris and Donald Trump neck-and-neck in the race, the market feels the tension of this intense battle. BankNifty is forming an Elliott Wave Triangle – a pattern that traps traders in a similar loop of ups and downs, mirroring the suspense and energy of the election. Elliott Wave Triangle: The Calm Before the Breakout The Elliott Wave Triangle pattern is a consolidating formation that shows up when the market is preparing for its next big move. It forms a series of back-and-forth waves, typically in five parts (A-B-C-D-E), creating a narrowing structure like a triangle. This pattern often appears before a strong breakout, either up or down, signaling that traders should be ready for a significant shift in the trend. The Elliott Wave Triangle is like a pause before the market's next direction, building energy before it makes a decisive move. Caution: Don’t Be Fooled by the Stability What looks stable may actually be unpredictable. A fall below 50194 (last reached on October 7) could spark a quick drop towards 49500-49600 . If BankNifty slips below 49500 , it could fall even further, aiming for 47800-48000 . Short Term Wave Structure Short Term Support Zone for Wave-D to Halt & Take Support is 51000-50800 - Getting Support could make it bounce upside towards falling trendline connecting Wave A & Wave-C which might bring end to Wave-E , Once wave-E gets completed …Larger trend & more violent wave will start. Alternate Wave Path - A-B-C-D1-E1 If gap is breached below 50800..Index can drop to 50500-50600 zone as support zone & follow wave path D1 & later E1 The Black Loop in BankNifty: Are You Ready? Just like the thrilling loops in Black , these market waves might seem familiar yet hide surprises at every turn. Market Whispers, can you hear them? The Black Loop in BankNifty captures both the thrill of the U.S. election and the mystery of Elliott Wave patterns. As both the story and the market cycles unfold, only those who are ready can avoid getting stuck in the loop. #elliottwavetriangle #black2024 #correctivestructure #wavetalks #correctivewaves #trianglebreakout Regards, WaveTalks Abhishek
NSE:BANKNIFTY
by WaveTalks
11
RAILTEL - AS PER FIB RETRACEMENT, CORRECTION WAVE MIGHT BE OVERHi, This idea is about Railtel Corporation of India Ltd ABOUT THE COMPANY RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Miniratna" PSE of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers TECHINCALS As per the price action, the first impulse wave took the price all the way from 337 to 615. THen the correction wave commenced which pulled back the price from 615 to 440 levels. The price point as per fib retracement is at the point of 50-61% which as per Elliot Wave theory should be the correction wave Next impulsive wave could start if the price aloses above 475 with volume support FUNDAMENTALS Market Cap ₹ 15,066 Cr. Current Price ₹ 469 High / Low ₹ 618 / 163 Stock P/E 56.4 Book Value ₹ 56.9 Dividend Yield 0.61 % ROCE 20.2 % ROE 15.2 % Face Value ₹ 10.0 Equity capital ₹ 321 Cr. No. Eq. Shares 32.1 EPS ₹ 7.99 Promoter holding 72.8 % Change in Prom Hold 0.00 % Chg in Prom Hold 3Yr 0.00 % Pledged percentage 0.00 % Market Cap to Sales 5.67 Sales growth 29.8 % PEG Ratio 3.81 EVEBITDA 27.9 Quick ratio 1.16 Trade receivables ₹ 1,268 Cr. Sales ₹ 2,658 Cr. Debt to equity 0.02 Price to book value 8.25 Free Cash Flow ₹ 347 Cr. CMP / FCF 75.8 Thanks, Stock-n-Shine
NSE:RAILTELLong
by Stock-n-Shine
ULTRACEMCO - ELLIOT WAVE 5 IN MAKINGHi All, This idea is about Ultratech Cement Mkt Cap - 3L Cr ROE - 12% ROCE 15.3% P/BV - 5.56 MktCap/Sales - 4.7 FCF - 2k Cr Technicals Price action being published is on a 1 hour TF. As can be seen by the pattern, Elliot waves are in motion. Wave 1 was an impulsive wave followed by Correction wave (Wave 2). Ideally Wave 2 should correct to 50-60% as per Elliot theory & that is what happened during Wave 2 formation. Wave 4 corrected again by 30% and point 4 above point 1 which all points to the validation of Elliot theory. Wave 5 is about to commence which is as per the theory strongest impulse wave. Cement Sector as a whole is doing well due to boost in infra sector. Happy Trading, Thanks, Stock-n-Shine
NSE:ULTRACEMCOLong
by Stock-n-Shine
Avanti Feeds - Did we top in the Triangle at 599 Highs. Careful!Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? Initial Rise (2010-2017): The stock had a significant rise from a price of 1.40 in June 2010 to a peak of 940 in 2017, marking a seven-year bullish impulse phase. Sideways Correction (Post-2017): After reaching its peak, the stock entered a complex sideways correction phase, identified as a WXY pattern. This suggests a period of consolidation and uncertainty. Recent Developments (Wave-X as a Triangle): The Wave-X within this correction unfolded as a triangle pattern and topped at 598.50, indicating a temporary peak within this corrective phase. Resistance Levels: Key resistance levels are identified at 598.50 and 770. The stock's performance below these levels could indicate bearish pressure. Support Levels and Potential Drop: If the stock remains below the resistance zone (598.50 & 770), it could drop to a key support level at 386. A breach below this could lead to a critical support level at 321 (Wave-D). If these supports are broken, the stock might target the 160-175 zone, completing the corrective phase that started after the 2017 high. This correction could be just first set of correction & to be reviewed later as we get more price information. Ichimoku Cloud Indicator: The price getting rejected close to Ichimoku Cloud & breaching key support levels while under resistance could be an early warning sign for a potential drop to the 160-175 support zone. Target Zone 160-175: The target zone of 160-175 for Avantifeeds is significant because it's where Wave-Y is expected to travel 61.8% of the distance of Wave-W as one of the measurements, commonly used under Elliott Wave analysis. In summary, the Elliott Wave analysis indicates that Avantifeeds is currently in a complex corrective phase following a significant bullish run for 7 years from 2010 to 2017. Key resistance and support levels have been identified, with potential downside targets if these levels are breached. The Ichimoku Cloud provides additional confirmation of these bearish signals. Investors and traders should closely monitor these levels for potential trading opportunities or to adjust their positions accordingly. From WaveTalks Market Whispers!
NSE:AVANTIFEEDShort
by WaveTalks
7
RUNE - Under Elliott Correction Wave#RUNE 4hr. Chart Analysis CRYPTOCAP:RUNE at present going to #Bullish trend after the update news and it will be moving under Elliott #ImpulsiveWave and after completed its final Wave recently, it was starts moving towards first #CorrectionWave formally as well. From $3.1 at 7th Nov., its #ElliottWave starts and growen upto $6.6 around finally and now its correction wave starts that will be finish out approx. $4.5 to $4.3 before next week start-up with new cycle. Lets see, whats the actual movements of every cut-off points but major chances that it will be take a correction before another #Bullish trend towards next ride towards $13-$15 next time. Always #DYOR before investing or Trading and use #Stoploss into tradings, Its #NFA also, Follow me to like and comments on it to share anyone too...
Short
by AskToRahulSirohi
2
Bank Nifty Outlook: The Classic Wedge Pattern Close to 44050Bank Nifty Trading Outlook: The Classic Wedge Pattern Close to 44050 Pattern Unfolding: Classic Wedge Formation (As discussed recently ) 📐 Support Zone: 43540-43550 🛡️ Immediate Resistance Zone: 44000-44050 🚫 Bullish Signal: Index move above 43700 📈 Target Zones: - Short-term bullish view above 43700: 43850-43950 (with a possible 50 points extension) 🎯 - If selling below 44050: First target 43550, followed by 43275 ⬇️ - Break below 43275: Next levels 42900-42950, then 42600 🎯 - Under 42500: Potential test of the 42105 low from Oct 26th 📉 Previous Successful Call: Selling at the peak of 46310 on Sep 15th with a similar wedge pattern 🔄 At WaveTalks -We decode the market's whispers into actionable insights. Happy Trading, WaveTalks
NSE:BANKNIFTY
by WaveTalks
3
Elliott Wave Analysis of GoldHello Friends Welcome to our Elliott Wave analysis of the Gold chart! This analysis helps us make sense of Gold's price movements by spotting repeating patterns. Think of it like finding familiar footprints in the sand. Imagine Gold's price as a series of waves. Elliott Wave theory suggests that these waves repeat in predictable patterns. We'll be looking for five main waves within an overall trend and smaller waves in between. The goal is to figure out where Gold might be in its current wave pattern. This can give us clues about whether the price might go up or down in upcoming days. Remember, no analysis is a crystal ball. While Elliott Wave can be helpful, it's just one piece of the puzzle. Market news and events also matter. By understanding these wave patterns, we aim to predict potential future movements in Gold's price. So, let's ride the waves of analysis and see what they might tell us about Gold's journey ahead. Overall it looks little down first, then little big contra trend upside near $ 1910 or more, and then again down continuation towards $1820 - $1850 might be. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. 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...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
FOREXCOM:XAUUSD
by RK_Chaarts
4
NSE: Abbott India Elliott wave ProjectionOverview: Abbott India has accomplished the impulsive wave 3, and the price is forming corrective wave 4. Price has occurred the sub-wave A. and Sub-wave B. Sub-wave C of 4th wave is in progress. After completion of wave 4, the price will start its bull run. Fibonacci relationship and wave Formations: Wave ((1)) is a five-wave impulse. Wave ((2)) retraced 50% of wave ((1)). Wave ((2)) has taken 23 months to finalize. Wave ((3)) is a five-wave impulse. Wave ((4)) looks like a sharp correction. Rule of alternation indicates variation between two corrective waves in terms of time, distance, and formation. Because wave ((2)) was a complex correction, wave ((4)) should be a sharp correction. Destiny of wave ((4)): Wave ((4)) can terminate near the previous corrective wave (iv) at 13994 . Wave ((4)) can end at 15064 , which is a crucial support level. The common retracement of wave ((4)) is 38.2% , but the price has broken down this level. Next Fibonacci retracement level is 50% at 13967. Please note that the corrective channel has broken down, so bulls can enter when the price renter into the parallel lines. Otherwise, the price has bearish sentiments.
NSE:ABBOTINDIA
by forextidings
4
USDINR Possible Elliott wave counts Hello Friends Here we had shared possible Elliott wave counts on chart of USDINR, which is clearly showing that on bigger scale we are in 5th wave of some higher degree, in which we had finished wave (1)-(2)-(3) and currently we are in either in wave (4) or in wave 2 of wave (5). Also both scenarios are discussed in this video post, you can go through this video post which is explained in best possible way for Educational purpose only. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. 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...! Hope this post is helpful to community Thanks RK💕 Possible scenario Alternate scenario Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
by RK_Chaarts
6
SRF Ltd. Possible Elliott wave counts, looks corrective phaseHello Friends, Here we had shared possible wave counts of SRF Ltd. which is clearly showing corrective phase in current scenarios, After completing impulse move as 1-2-3-4-5 now we are in correction, which is unfolding as A-B-C as a zigzag correction pattern, which should unfold in 5-3-5 subdivisions, and already we had finished wave A and B, now possibly we are unfolding wave C which should come as in five subdivisions as a 1-2-3-4-5, in which we had finished 1-2 and now possibly we are in 3 of C, Overall, as per Elliott wave structure, bias are bearish in this stock, with Invalidation level of price crossing above 2636. which may give good lower levels in upcoming weeks. Still there is a support area shared and discussed in this video post which is horizontal support zone, once its broken then for bears, but it can provide support also, so be cautious, Some significant snap shots are shared below, please go throughout once. 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. MACD Negative crossover in Daily time frame MACD in weekly making lower high and now in down tick position MACD in monthly already running Negative RSI on daily down tick and broken trendline support RSI on weekly breakdown as head n shoulder pattern and also broken support trendline Price closed below 20DMA and also challenging lower Bollinger band on daily Most investors treat trading as a hobby because they have a full-time job doing something else. 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...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:SRFShort
by RK_Chaarts
10
EXPANDED / IRREGULAR FLAT CORRECTIONHello Friends, Here we had shared some major points and characteristics of Expanded Flat Correction also known as Irregular Flat Correction in Elliott waves. Principles of Irregular / Expanded Flat correction pattern 1) 3 waves corrective pattern which is labelled as A-B-C 2) Subdivision of wave A and B are in 3-3 waves 3) Subdivision of wave C is in 5 waves 4) Wave B of the 3-3-5 pattern completes beyond the starting level of wave A 5) Wave C completes beyond the ending level of wave A Fibonacci measurements Wave B is always 123.6% to 138.2% of measurement of wave A Wave C completes at least 123.6% to 161.8% of wave A which starts from end of wave B 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. Hope this post is helpful to community Thanks RK💕 Most investors treat trading as a hobby because they have a full-time job doing something else. 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 and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Editors' picks
NSE:ABFRLEducation
by RK_Chaarts
10
HIL LTD possible Elliott wave countsHello Friends, Here we have shared possible Elliott wave counts on hourly chart of HIL LTD. Post all-time high which was high of August 2021, we are still in correction phase only. This correction is complex correction, in which we have labeled correction swings as a wave (W)-(X)-(Y), which we have completed wave (W) & (X), and now possibly we are in wave (Y), in wave (Y) we have completed wave A and currently we are in wave B, in B we have completed wave (a) & (b) and now we have started to unfold wave (c) which is expected to unfold in five subdivisions as a wave i-ii-iii-iv-& v, which is expected to go towards north direction as uptrend which is expected to be contra trend, at the point which is expected as target, it is equality of wave (a) and wave (c), the point where wave (c) is going to be complete, it would be completion of wave B. Possibly we could see negative divergence at the ending of wave v of wave (c) of wave B. At that point, trend could give reversal to complete wave C downwards, completion of wave C would complete wave (Y). This is overall Elliott wave structure on daily chart. This is overall Elliott wave structure on hourly chart. Witnessed Divergence at the end of wave v of (c) of B 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. Most investors treat trading as a hobby because they have a full-time job doing something else. 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 and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:HILLong
by RK_Chaarts
AUROPHARMA: Terminal ThrustUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach). Triangles are the penultimate waves i.e. waves before the last wave. This suggests that prices have reached to level of exhaustion and are likely to take a reversal. In this particular case, Auropharma is likely to finish the Wave-3. A break of the green trendline will give the first signal that wave-3 has peaked. Trading strategy: Sell below 630 keeping Sl of the previous high before breaking the 630 on the downside and look for the target of 600/585 in the coming days/weeks.
NSE:AUROPHARMAShort
by TradingSutra
1
BankNifty Tidal Wave- Ride or Crash? 15th May 2023Welcome back to another episode of Wave Talks. Bank Nifty's Tidal Wave -Ride or Crash: Index can face a significant shift with the unfolding ending diagonal. Will you ride the wave to profit or crash on the shore? Unfolding wedge pattern It's time to reconsider Bank Nifty's pattern as it poses a risk. Let us discuss in details price objective & outlook for next few weeks with key & critical levels for better risk management. Last Idea - BankNifty's Danger -Is this a rising wedge
NSE:BANKNIFTYShort
by WaveTalks
10
U.S.Dollar Index possible Elliott wave counts of DXYHello Friends, Here we have shared possible Elliott wave counts plotted on chart of U.S. Dollar Index - DXY on daily time frame, which clearly indicates that after top of September 2022 we are in corrective phase as per Elliott wave structures, and as per wave counts we can see that we had completed wave ((3)) and now possibly we are in second half of wave ((4)) in which we had completed wave (A)-(B) and currently we are unfolding wave (C), in wave (C) we should have five subdivisions and we had completed wave 1 and now we are in wave 2 which is contra trend, we are assuming again a reversal signals to start again journey towards south direction as a wave 3-4-& 5, to complete wave (C) of bigger degree wave ((4)). Overall it's looking very good candidate to go short on rise along with invalidation levels of 105.883, because as per wave principles wave 2 will never retraces more than 100% of wave 1. 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. Thanks 💕 Price below mass psychological cloud level (Bearish Bias on daily) Daily MACD positive, but below resistance and zero line Weekly MACD negative Monthly MACD negative Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
TVC:DXYShort
by RK_Chaarts
COPPER possible Elliott wave countsHello Friends, Here we have shared possible Elliott wave counts on 4 hourly chart of COPPER, in which we can say that still selling pressure may continue for some while, because now possibly we are in complex correction phase as wave ((w))-((x))-((y)), in which we had completed ((w))-((x)) and now possibly we are unfolding wave ((y)) in which subdivisions are (a)-(b)-(c) and here also we had completed first two subdivisions as wave (a)-(b) and now we are unfolding wave (c), which can still continue same bearish trend ahead for now some while, where wave (c) would be completed , there wave ((y)) will be done, where wave ((y)) would be done, there wave 2 will be finished and we can say bearishness will be finished with wave 2. wave 2 will not retrace more than 100% of wave 1 so bottom of wave 1 is pegged at $ 3.2410 which should not be crossed as per wave principles, wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269, and wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618. Well, post wave 2 we can assume fresh impulse ahead as wave 3. wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269 wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618. Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
FX:COPPERShort
by RK_Chaarts
DABUR INDIA LTD possible Elliot wave counts on dailyHello Friends, Here we had shared possible Elliott wave counts on chart of Dabur India ltd. in which we can see that currently we are in corrective phase of this stock, On daily chart we can see that possibly we are in wave (c) of Y of (4), post wave (4) we can start fresh rally towards wave (5) in north direction, but currently we still have to complete corrective phase which is in complex correction pattern, so labeled as W-X-Y, in which we have completed wave W-X and now possibly we are in wave Y, also I'll mention here that in wave Y we have finished wave (a) and wave (b) and now possibly we are in wave (c) of wave Y, in wave (c) we have done wave i, and wave ii and now we are unfolding wave iii of (c) of Y. Along with wave structures we are witnessing lots of situations in technical charts which are aligning and supporting same bearish bias, like negative crossovers, breakdowns, low relative strengths, RK's Mass psychological cloud etc. etc. 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. Please check snap shots shared below Possible Elliott wave counts on Daily time frame. Possible Elliott wave counts on Hourly time frame Support breakdown along with good intensity of volume Price broken down from ascending parallel channel with good volumes RK's Mass psychological cloud and stop line both indicating bearish bias ahead. Bearish Sequence in major moving averages 50DMA is below 100DMA and 100 DMA is less than 200DMA Price closed below lower Bollinger band on daily time frame Price closed below lower Bollinger band on weekly time frame RSI below 40 is too bearish in daily RSI below 40 is too bearish in weekly MACD in daily negative crossover under zero level MACD in weekly also negative MACD in monthly already running in negative mode DMI ADX both in bearish strength in daily chart DMI ADX both in bearish strength in weekly chart Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
NSE:DABURShort
by RK_Chaarts
2
Possible Elliot wave counts of GBPJPY (now down then up)Hello Friends, here we had shared possible Elliot wave counts of GBPJPY on hourly time frame chart, in which wave structure says that currently we are in wave (c) of wave 2 of wave (C) of some complex correction heading towards north, on bigger scale post (C) again we may start journey towards south directions, Right now on hourly chart we can assume that we may witness fall as a wave iii, iv & v of (c) of 2 of (C), (c) can be an equal of (a) so it may show us 164.858 levels as an equality. Now down then up, Overall it's suggesting buy on dips only. 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. RK's mass psychological cloud is also suggesting good support at same buying zone area Bigger picture Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
by RK_Chaarts
USOIL CRUDE OIL possible Elliot wave countsHello Friends, here we had shared possible Elliot wave counts with our view on US OIL - CRUDE OIL, in which we are waiting for further confirmation to confirm the TREND as per Elliot wave structure, we are possibly at the ending of wave ((2)) corrections or may have started wave ((3)), let's wait to confirm by chart itself, so possibilities of wave counts have been discussed in details in this video study, one can observe it in live market as per study discussed in this video study, 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. Thanks Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
TVC:USOIL
by RK_Chaarts
4
Apollo Hospitals possible elliot wave countsHello Friends, Here we had analyzed the chart of the stock Apollo Hospitals which is convincing bearish bias aligned with price action breaking down trendline along with good intensity of volumes on daily time frame, supporting same view by trend indicators like macd, rsi, bollinger bands, dmi adx and Elliot waves. As per Elliot wave structure it is clearly in correction phase in which most probably seen that we are unfolding corrective waves in zigzag pattern, in which we can assume that we had finished wave A and B and now possibly we are unfolding wave C which should unfold in 5 subdivisions, in wave C we had completed one lower degree wave 1 and wave 2, Once low of wave 1 is taken by bears then it would confirm that wave 3 of C has started to unfold. Overall we can say we are assuming Bearish bias in this stock aligned with each and every parameters. 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. All highlights shared below. Thanks. Corrective Wave structure Break-down with Good intensity of Volumes on Daily time frame Price getting rejection from RK's stopline and closed below RK's mass psychological cloud. MACD in daily Negative cross over MACD in weekly already running negative MACD in monthly already running negative Price challenging lower band on daily time frame RSI down tick and below 40 on daily time frame DMI ADX also supporting same bearish bias in daily time frame Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
NSE:APOLLOHOSPShort
by RK_Chaarts
SAIL possible Elliot wave counts with Multi parameters alignedHello Friends, here we had shared analysis of stock from metal sector stock named SAIL, in which we had checked multi parameters which are aligned in same bearish bias as in current scenario. As per Elliot wave counts we are in complex correction or we can say double threes or double zigzag correction which we had labled as ABC as a (W) then (X) and again ABC as (Y), as per wave principles (Y) should be equal to (W) so we have enough space towards south zones (down side) which is indicating bearish bias as per Elliot wave counts. Trend identified by Dow theory is also giving same bearish bias because stock is forming lower highs and lower lows since last 22 months, which is aligned itself with same bearish bias. Trend indicator like MACD on monthly, weekly and daily these all are in sell modes and aligned with each others, which are indicating same bearish bias. As per Bollinger bands on all three time frames like monthly, weekly, and daily are also showing that stock is trading below 20 Monthly SMA, 20 Weekly SMA, and also 20 Daily SMA, which also indicates same bearish bias. On bigger picture possibly we are in last leg of correction which is to complete or finish very soon, Overall wave structure is suggesting on higher degree we had completed wave ((1)) and currently we are in correction phase almost near verge of end as a wave ((2)), post ((2)) we can start fresh impulse of bigger degree as a wave ((3)) which can cross highs of wave ((1)) so we can say that, currently we assume this stock as a bearish and after finishing wave ((2)) we should change our bias from bearish to bullish after confirming with price actions and other parameters also. 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. All major parameters are shared below as snapshots must watch Thanks This stock is forming lower highs & lower lows since last two years which is clearly bearish trend Possible Elliot wave counts on daily time frame Monthly macd negative Weekly macd negative crossover Daily macd negative Price trading below 20MMA (monthly mid bollinger) Price trading below 20WMA (weekly mid bollinger) Price trading below 20DMA (daily mid bollinger) Possible wave counts on hourly chart Most investors treat trading as a hobby because they have a full-time job doing something else. 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.
NSE:SAILShort
by RK_Chaarts
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