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Elliottwaveforecasts

MRF possible Elliott wave countsHello Friends, Here we had shared possible Elliott wave counts of MRF chart, in which we can say that currently we are near to make one more top as a wave 5, so any dip could be used as an opportunity to go long with strict invalidation level of 95164, which is stoploss level of current view. Thanks 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:MRFLong
by RK_Chaarts
Balkrishna Industries: Bullish TriangleUsually 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). INVESTMENT STRATEGY: Buy on CMP 2445 , keeping SL of 2150 look for the measured target of 2900/2950 in the coming months
NSE:BALKRISINDLong
by TradingSutra
1
Banknifty became Bearish. What will be it's next move?Today BN looks like became bearish as it failed to cross it's life-time high. Instead going up it started coming down. Whole wave structure has changed. It looks 44152 could be an end point of 3rd wave (300% of wave 1 ) This is normal for a 3rd wave. It is probably making a flat correction as B went to nearly start of A and now third leg that is C would at least come down equal to A Now we could expect a short-term bearish view where C wave may first drift down to 43480 and if BN fails to take support here then to 4350 lvel. I would expect BN to come down to 43000 level which is 23.6% correction of 3rd wave. So trading on long side could be disappointing play. I would see it a NO TRADE zone and let it settle down. In a bullish market shorting could not be wise play. I now realized of why 43740 was not the end point of 3rd wave (278.6% of wave 1) as BN was not made a fast C wave. Please express your view and leave a comment.
NSE:BANKNIFTYShort
by kaushikwbslg
TPL PLASTECH LTD. Looking hot all parameters to go longHello Friends, Here we had shared possible Elliott wave counts on chart of TPL Plastech ltd. which is showing currently we are in impulse wave, we have completed wave (1) and wave (2) of some degree, & now possibly we are unfolding wave (3), in which we had completed wave 1 and 2 and possibly now we are unfolding wave 3 and again in which we had completed wave (i) and wave (ii) and now we are unfolding wave (iii) of wave 3 of wave (3). Overall, chart pattern is also supporting bullish bias, cup n handle chart pattern yet to breakout, and lots of other parameters supporting same bias are shared below as a snapshots. 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 Cup n Handle chart pattern Overall, Elliott wave structure Trendline breakout along with good intensity of volume Price challenging upper Bollinger band. Price trading above 50DEMA, 100DEMA and 200DEMA MACD positive in daily time frame MACD positive in weekly RSI in daily RSI double breakout in weekly DMI ADX positive strength in daily DMI ADX positive strength in weekly 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:TPLPLASTEHLong
by RK_Chaarts
4
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
What is the Short-term View of Banknifty as per Elliott Wave?3rd Wave of BN has reversed exactly from 278.6% of wave-1 and made a short cycle A-B-C correction where C has came down to 138.2% (very common) and where the 3rd wave has corrected nearly 23.6% (very very common for an extended wave) of total upmove as 3rd wave approx 4466 points. And if it was a completion of 3rd wave at 43740 we might have completed correction. But there is a reasonable chance that BN may have another downmove towards 42470 area which is major support area.So, we need to have a neutral view and be watchful for its consolidation.
NSE:BANKNIFTY
by kaushikwbslg
Elliott wave possible counts of TVS MotorsHere we had shared video analysis of possible Elliott wave counts on TVS Motors 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:TVSMOTOR
by RK_Chaarts
2
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
DLF. - Elliot Wave - Ongoing ImpulseHello Friends, DLF has been showing sharp upward movement for a few weeks. It has completed a major degree of correction, which seems to be a significant up move impulse. 3 internal wave of impulse is going on, targets are the marked basis on fib extension on 1-2 internal wave. 3 wave seems to be an extension, it has already crossed 1.618% levels. Move is expected to continue until 5 Internal wave is completed and then we will enter into correction of this wave.
NSE:DLFLong
by KunalSaxena10
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
3
Adani Green Energy possible Elliot wave counts (Investment pick)Hello Friends, here we had shared possible elliot wave counts of stock Adani Green Energy, which is clearly showing that this stock has completed full corrective wave cycle as ABC of bigger degree (2), after completing full impulse wave cycle as 12345 of bigger degree (1), while completing correcting wave, it had formed zigzag correction pattern as ABC of larger degree wave (2), in which it clearly showing that equality of wave A and wave C is coming at 1175 and 161.8% level of wave A is coming at 307.10 level, which can be used as Invalidation level for Longs. Well, this stock has fallen from 3050 levels to 439 levels which is almost 85% sudden correction from highs, also wave counts are suggesting that possibly corrective counts has unfolded and possibly completed, So one can go long at current levels or in dips (if any) along with stop loss of invalidation level of 300. and as per wave principles wave 2 can never retrace more than 100% of wave 1, and that level is pegged at 22.80 which is all time low of this particular stock as per chart. also if it hold above invalidation levels then this can be investment pick and if it starts journey towards north direction then wave 3 can show new all time highs for long term prospectives 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. 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.
NSE:ADANIGREENLong
by RK_Chaarts
8