Trend indicator macd for SAIL is turned negative now on daily time frame, also with price closed below 20DMA along with follow up seen in today's session,
price retraced up to 50% Fibonacci level of recent fall and turned back towards south. Also, possible Elliot wave counts are suggesting correction is pending ahead, if our counts are going correct then price can...
Skipper ltd, this stock is looking in good momentum on daily, weekly, and on monthly too, along with cup and handle chart pattern breakout along with good intensity of volumes too, also wave structure is suggesting bullish bias at the same time, one can go long at current levels and can add more in dips (if any), overall, its looking good candidate for longs....
Apollo tyres, is looking currently in good momentum upside, it has broken resistance trendline along with good intensity of volumes along with challenging upper Bollinger band, also trend indicator macd is supporting same trend right now.
As per Elliott wave projection it shows possibly we are in wave 3rd of wave 5th on daily time frame, which is a cautious sign...
NSE:CNXMETAL seems to be breaking out in 3rd wave of Bull Market.
And ready to scale New Highs. It is resembling the pattern made in 2020 before mega Rally. Will The History Repeat?
I guess so. The Technical Patterns repeat because the Stock Market moves are driven by Human Emotions.
And Human Emotions never change. And hence the Chart Patterns work.
Timeframe: 8h
Price started to form impulsive wave C after Bajaj Finserv completed correction wave B. There is also the possibility of altering the count with W-X-Y.
Wave (b) retraced 50% of wave (a), which signals intense supply pressure. If the price breaks wave (a) at 1621, traders can sell for the following targets: 1594 – 1569 – 1549 . Calculations are...
Timeframe: Daily
NSE EICHER motors have accomplished the corrective wave (4) and started forming impulsive waves (5). The price is currently forming sub-waves of the impulsive waves (5).
Wave (2) was a sharp zigzag, so wave (4) formed the choppy structure triangle. Since wave (3) was an extensive wave, we cannot expect wave (5) to extend with a high...
Crude oil is looking Bullish ahead Reasons are mentioned below
Inverted head n shoulder Neckline Breakout
Price taking support from RK's Mass psychological cloud and RK's stopline in daily time frame
Possible wave counts on weekly chart
Possible wave counts on Daily chart
Possible wave counts on 4 hourly
Possible wave counts on 1 hourly
Price...
The JPYINR pair has just broken out of a downside wedge (classical charting). Wave counts indicate a complete ending diagonal (Elliotwave
count) with all subwaves visible. Moves following the completion of diagonals are fast and we can expect a quick move to the 60.00 - 61.00 as an initial target subject to the recent low of 54.63 holding
NSE:LUPIN has just completed wave 1 which was a leading diagonal, with deep corrective wave 2 almost 0.236 of fibo retracement and also healthy volume built-up which looks good to buy, with Sl of 594 and Target of 733 , 881 .
#banknifty weekly time frame hammer pattern formation
Much-needed correction looks over in the market and we are heading back to ATH.
If you don't do fishing in muddy water, then forget about creating wealth.
Regards,
SG
This is further to my analysis on 23rd August, 2022, where I tried to analyse the index on all time frames.
The wave (a) was corrected by almost 38.2% to 17626.55 level.
The price further went down to 17499.25 making a 3 wave structure and then extended the wave (a) correction to 17726.5 making wave (b) as complex correction w-x-y. Wave (b) seems to be completed...
This stock has given breakout with good intensity of volumes, also RK's mass psychological cloud suggesting upside along with buy signal.
Overall wave structure is showing that we are in impulse only, In pandemic situation also this stock has not gone too low, it has been out performer and making higher highs and higher low structure.
After completing wave 1-2...
This stock has given breakout of typical triangle chart pattern on daily chart, along with good intensity of volumes, this triangle pattern is typically seen at the end of complex correction in wave Z.
As per wave structure also it is showing same scenario fitting well, overall if it gives up move as a retracement only up to 61.8% of last fall since November 2021,...
Nifty 50 achieved the final target (nearly) as per the target of Expended ending diagonal in the form of ABC wave.
The ABC move was very sharp. 0-2 and 2-4 trend lines breakout clearly visible, but the major 4th wave high is still not broken.
Here i have drawn new 0-B trend line (BLUE COLOR) may decide the further movement in long term.
Lets see the scenarios...
#banknifty view for 10th Aug'22:- Absolutely no weakness in the market, any dips must be utilized to build long positions.
Live analysis free during market hours @
in.tradingview.com
#Elliottwave
Regards,
SG
#banknifty positional view based on weekly time frame analysis:-
Wave 4 corrections ( triple combo zig zag) seem to be over and Wave 5 has started, which gives an excellent target on the upside.
Use every dip to go long, hopefully, we will have dhamaka Diwali this year.
Regards,
SG
Stock has come up with its first leg as an impulse. After that stock has gone into a considerable corrective price action. The current structure suggests that stock is ready to move up for another impulsive leg.
TRADING STRATEGY:
STOVEKRAFT: BUY ON CMP (583) SL: 540 TGT: 625/650
Theory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...
