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Elliottwaveprojection

Ashoka Buildcon for 60% gainsDate: 15 Oct’24 Symbol: ASHOKA Timeframe: Daily Ashoka Buildcon seems to be in Wave 4 which is likely to see one more leg down before it starts to move up in Wave 5 towards 370 (~60% from end of Wave 4) as seen in the chart. Company’s market cap (~7000 cr) to sales (10,000+ cr) ratio is at 0.68 while the industry average is 4 times higher at 2.24. This is not a trade recommendation. Please do your own analysis. I have the right to be wrong. Aisa lagta hai ki Ashoka Buildcon Wave 4 mein hai, jiske Wave 5 mein 370 (Wave 4 ke ant se ~ 60% adhik) ki taraf badhane se pahale ek aur baar neeche jane ki sambhavna hai, jaisa ki chart mein dekh sakte hain. Company ka market cap (~7000 crore) aur sales (10,000+ crore) ratio 0.68 hai jabki industry ka average 4 guna adhik 2.24 hai. Yah koi trade lene ki salah nahin hai. Kripya apna vishleshan khud karein. Aur mujhe galat hone ka adhikaar hai.
NSE:ASHOKALong
by DhandhaPaani
TATACONSUM: Upcoming Price Surge Projection Timeframe: 4h NSE TATACONSUM has formed a correction on the 4-hour timeframe chart. A closer look at wave A reveals it consists of three distinct waves, indicating it can't be labeled as an impulse. The security has broken below the 50, 100, and 200 EMA, with the Average True Range (ATR) at 15 . Currently, the price is developing wave (iv) of wave C within wave (B). Wave (B) has already reached 100% of wave A, and with bullish sentiment, the price could surge from this point. However, we need confirmation through a breakout of the sub-structure. After wave (B) is completed, traders can use wave (iv) as an entry point to confirm a long setup. Fibonacci clusters indicate potential levels at 1189 - 1246 - 1296. Risky traders entering right after the completion should confirm their position with a lower high. We will provide further updates soon. - KP (Trade Technique)
NSE:TATACONSUM
by Trade-Technique
1
NIFTY - Elliott Wave Outlook Timeframe: Weekly NSE NIFTY began an impulsive move after hitting a low of 15183.4 . Based on the wave count, the price completed wave (5) of wave (3) at 26277.3 and has since started to decline. The price is currently in a wave (4) correction phase. Let’s switch to the daily timeframe for a closer look at the details. Timeframe: Daily On the daily chart with a neckline at 24,750 , we’re observing a bearish head-and-shoulders pattern forming. If the price breaks below this neckline, Nifty could drop significantly, potentially reaching the demand zone or surge point of the pattern. However, if the price fails to break this neckline, it indicates weakness in the bearish momentum, signaling a possible reversal According to the Elliott Wave Principle, if wave 5 is an extended wave, the correction often occurs near sub-wave 2 of the previous impulse, especially if it falls below sub-wave 4. So, 24,570 will be a crucial level for Nifty. We can expect the price to move up by no more than 126% of wave A within the correction. Otherwise, there’s a risk of mistaking wave B for wave 3. Whatever scenario Nifty chooses, it’s better to let Nifty commit to a clear direction before we commit to the market. We will update further information soon.
NSE:NIFTY
by Trade-Technique
7
XAUUSD’s Final Wave Completion – What’s Next?XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200 ) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe. The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670 , which marks the high of wave (B). If the price breaks above 2670 , traders can target the following levels: 2685 - 2715 - 2735 +. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome. Further updates will follow soon.
OANDA:XAUUSD
by Trade-Technique
1
EW Breakdown of USDCHF: Eyeing a Move Toward 0.8620I have analyzed the wave count by examining a consolidation area with significant trading activity following a sharp decline in USDCHF. Observing the slope of the fall, it appears that this congestion area could represent a correction on the 4-hour timeframe. The wave count indicates that wave B has formed a contracting triangle, with wave (e) of wave B completing at 0.8396 . We are at wave (C), which has can be move forward after breaching a strong resistance of 0.85154 . The currency may have some pullback for the public participation, but it shouldn't exceed the low of wave B. The setup can be formed after the breakout of wave B, for the distance up to 0.8618. Fibonacci Calculations are given below: Wave C = 1.618 of Wave A Wave C = 0.786 of the previous impulse Wave C = 1.618 of the previous impulse Additional information will be provided shortly.
by Trade-Technique
BTCUSD: Key Levels and Projections Based on Elliott WavesBTCUSD has formed a corrective pattern on the daily timeframe, identified as a W-X-Y structure with seven distinct waves. The price found support at the 200 EMA, reaching a low of 49,57 7 before bouncing back. The sub-waves within this structure are clearly visible, with wave (1) and wave (2) completing at 62,729 and 52,546 respectively. Currently, BTCUSD is encountering strong resistance at the upper boundary of the corrective channel, posing a significant challenge for bullish momentum. Although wave (3) has managed to rise above wave (1), it has not yet confirmed a strong bullish breakout. To establish a decisive upward move, wave (3) needs to hold above wave B and breach the upper boundary of the channel. The breakout can help the price to get 100% of the whole correction. Failure to break out of this resistance zone could result in the corrective structure extending into an X-Z formation, leading to a prolonged consolidation phase. This would suggest more time is needed for the pattern to play out, causing frustration for traders looking for a clear bullish trend. We will provide further updates to our followers soon. - Trade technique by KP
BITSTAMP:BTCUSD
by Trade-Technique
2
Maruti - Up, Up & Away in the 5th Wave Above12555 Disclaimer: This is not a solicitation to buy or sell; please consult your financial advisor before making any trading decisions As discussed earlier on 1st Sep Idea, Maruti’s performance above 12555 was critical. Now, the stock is pushing Up & Up & Away with new highs beyond 13680 in sight. Will it break the upper trendline and complete the highly anticipated Wave 5 in the Elliott Wave Structure ? Last Idea - 1st Sep 2024 : Maruti Suzuki - Will it fly Above 12555 Regards, WaveTalks
NSE:MARUTILong
by WaveTalks
4
HDFC - Will it take U-Turn ? - Close from 1800 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?........... Will the Giant Take a U-Turn after achieving all the targets 1555 was the first in the series .... Possible Reasons for Next Expected Move Possible Double Top at 1794 ( Will be valid until holds below 1800) Pattern Thrust from 1630's - Key level Elliott Wave - Corrective Sequence could be completed from the support zone 1375 - 1390 to 1800 approx highs .or about to end .mentioned in the connecting 1st idea published on 27th Jan 2024 - The Bullish Gartley Bullish Gartley Idea ( 1375 - 1800..) - 1st Idea of the Series in Jan 2024 Enjoying Target 1 - 1555 in April 2024 Nifty at 26000 - We are almost close to 27600's Target ...Can we achieve the dream run or we correct & later push towards From WaveTalks Good Night
NSE:HDFCBANKShort
by WaveTalks
7
Bank Nifty - Explosive 800+ Points MoveDisclaimer: The content provided here is for informational and educational purposes only and should not be considered as financial advice or a solicitation to buy or sell any securities. Always do your own research or consult with a professional advisor before making any trading or investment decisions. WaveTalks is not responsible for any losses that may occur as a result of reliance on this information. WaveTalks - Market Whispers! Can you hear them? The insights are fascinating, and when combined with old-school analysis, it becomes a lethal combination – as you witnessed today in the markets. Bank Nifty: Bhelpuri Analysis at its Best! What you saw unfold today was a result of a bhelpuri analysis. To simplify, this powerful move started with a Bullish Engulfing Candlestick Pattern right at the bottom of the historical level (50939-50950), as highlighted in the last update combined with Wave Analysis Last Idea - Enjoyed 1350+ Points Today, Bank Nifty surged by 850+ points, nearly achieving our third target, falling short by just 150 points. But no worries, the magic in today’s waves was undeniable. Key Psychological Level : Bank Nifty is now approaching the 52000 mark. If it breaks past this level, we could witness an even more explosive move. Caution Near 52000 : However, if it struggles at 52000, caution will be necessary as we approach this critical threshold. Nifty: Major Surge Across Indices While Bank Nifty stole the show with its remarkable 850+ point leap, Nifty also saw a significant rally, jumping 490 points in a single day! This synchronized movement in the indices is a testament to the power of blending Wave Analysis with traditional methods.
NSE:BANKNIFTY
by WaveTalks
2
Bank Nifty - Enjoyed1350 points from 51700+ What Next?Last Time Holding 50939 ...Which was wave-a of the triangle while moving upside & we achieved 51700 target Explore the latest Bank Nifty Analysis with WaveTalks Finally ...What A Fall from 51700 to 50300's as expected ...Index dropped & bounced Last Idea - 51700 - Is this Short Term Top We are here again at crucial historical level 50939 / 50950...If Index holds above this level..can we bounce again upside towards 51350 / 51450 & crossing 51700+ this time it can jump towards 52000
NSE:BANKNIFTYLong
by WaveTalks
7
TATAMOTORS Ending diagonal.. trend is getting matured..Tata motors in impulse 5th wave up .. high made 1179 (min target of 5th wave done) It seems its making ending diagonal pattern in form of 3-3-3-3-3... waves and if it is doing diagonal pattern than chances are there for 3rd wave of 5th up in 3 waves and one more new high possible. important support is 4th wave low 855 breaking of which will end the impulse trend and down trend will start in tata motors. Disclaimer : study is only for educational and I am not SEBI registered.
NSE:TATAMOTORS
by MDstockmagic
Technical Analysis on SBI CardSBICard is currently exhibiting several noteworthy technical indicators that suggest a potential bullish trend is emerging. 1. SBICard has experienced a consolidated phase over the past three years, during which its price movements have remained contained. Recently, the stock has broken through a significant weekly trendline, indicating a shift in market sentiment. This breakout is crucial, as it often signals the end of a consolidation period and the potential for a new upward trajectory. 2. The weekly Stoch RSI has surpassed the critical threshold of 70. This level is typically associated with overbought conditions; however, in the context of a breakout, it can also indicate strong momentum. Traders should consider that while a high RSI may raise caution, it does not necessarily imply an immediate reversal, especially if accompanied by strong volume and positive price movement. 3. Approximately two weeks ago, a MACD crossover occurred, which is often interpreted as a bullish signal. This technical indicator has acted as a reliable predictor of trend changes in the past, and its recent crossover reinforces the notion that upward momentum may be gaining strength. 4. Last week, SBICard experienced notably high trading volume, which adds confirmation to the breakout. An increase in volume typically suggests that there is strong interest from buyers, lending credibility to the price movement. When breakouts are coupled with high volume, they are generally considered more sustainable. 5. An analysis using Elliott Wave Theory indicates that the prior five-wave downtrend may have completed its cycle, paving the way for corrective waves and potentially an upward trend. This framework suggests that the stock could be in the early phases of a new upward wave cycle, which could enhance bullish prospects. A pivotal level to watch is the 200-period weekly EMA, located around the price of 813. A sustained positive close above this EMA would be a bullish signal, reinforcing the upside potential. If this level holds and the stock continues to advance, the next significant resistance level is seen around 933. On the downside, traders should note a short-term support zone at 753. This level will be crucial for any potential pullbacks, as a breach below this support could negate some of the bullish outlook and indicate a need for further analysis. From a risk management perspective, the current scenario presents a favourable risk-to-reward ratio of approximately 1:2. Disclaimer: The information provided in this stock analysis is for informational and educational purposes only and should not be construed as financial advice. Always conduct your own research before making any investment decisions.
NSE:SBICARDLong
by NiftyNotions
JIOFIN BULLISH VIEWJIOFIN BULLISH VIEW ELLIOTT WAVE THEORY JIOFIN showing the fractal nature , completed 1st wave and 2nd wave higher degree showing upward signs , high volume traction can move 3rd wave to equality around 500 or even upto 1.618 around 620. let it gain some traction Wave 1 is considered using 17 leg formation to avoid further classification of inner counts , easy to count in case extension and prominent impulsive moves. This is for educational purpose only, in case of any suggestion you are welcome.
NSE:JIOFINLong
by Manojmkm
NSE ASIANPAINTS - At the Edge of Kinfe Timeframe: Daily NSE ASIAN PAINTS has been undergoing a corrective phase for about 80 weeks, with its price confined within a range of 3329 – 2938 , excluding excesses. The ADX indicator has declined to 21, while the average true range (ATR) stands at 43. Presently, the price has breached the 20-day exponential moving average (EMA) and is trading below the 50, 100 , and 200 EMAs. According to the wave principle, the price has formed a corrective formation A-B-C. Wave (B) occurred at 3422.9 , and wave (C) has taken place. Wave (C) has already reached 100 % of wave (A), indicating equality between wave (A) and wave (C). Sub-wave 4 of wave (C) is expected to occur, followed by wave 5 of wave (C). A buying opportunity may arise if the price breaks above the wave A – C line and maintains levels above 2931. Targets for the Long position would be 3026 – 3152 – 3285+. We Will update further information soon.
NSE:ASIANPAINT
by forextidings
6
EWT – Can Bulls Push NSE JIOFIN to New Highs?Timeframe: Daily After hitting a low of 202.8, NSE JIOFIN has formed an impulsive cycle. Wave ((2)) has not retraced more than 100% of Wave ((1)). Sub-Wave (3) is a powerful extended wave, reaching 261.8% of the Fibonacci extension of Wave (1). The price has completed Wave (4) at 307, marking an exact 50% retracement of Wave (3). The impulsive structure is expected to resume following a breakout above the corrective slope. However, if the price encounters strong resistance at the upper channel, there is also a possibility of a triangle formation on the daily timeframe chart. The 337 level will pose a significant challenge for the bulls to overcome. According to the alternative chart, the price has completed Wave D at 337.95 and has begun forming Wave E. If the price doesn’t break below the low of Wave C, Wave E could alternatively be interpreted as a 1-2 wave formation. If price breaks out 338 , traders can trade for the following targets: 360 – 383 – 405 +. A breakdown of Wave A at 307 will require a reassessment of the entire wave structure We will update further information soon.
NSE:JIOFIN
by forextidings
7
BankNifty (Alternate) - Do not Sell Until 50939 BreachedWaveTalks - Market Whispers! Can You Hear Them? Disclaimer: This is not a solicitation to buy or sell. Please consult your financial advisor Follow-Up on the Previous Idea Our last suggestion to sell BankNifty below 51404 was spot on, as we witnessed a 200-250 point drop during the session. However, I expressed concern that the decline didn’t seem convincing, suggesting that new highs could still be possible as long as 50939, our critical level, remains intact. Recent Developments On 29th August 2024, the index opened near 51000, reaching a precise low of 51028, which we marked as Wave C. Holding 50939 was critical, as suggested at 11:12 am in the last Bank Nifty Idea. Following this, we saw one push towards recent highs, reaching 51369, which we marked as Wave D. Currently, we are observing a sharp fall in Wave E, which is still unfolding. Last Idea - BankNifty - Is This an Ending Diagonal What to Expect Next Holding 50939: If BankNifty manages to hold above 50939, expect the bulls to regain control, potentially driving the index beyond 51404, with new highs on the horizon. Breaking 50939: Should the index fail to sustain above 50939, traders should brace for further downside. This break could signal the end of the current bullish wave structure and open the door for a deeper correction. Key Levels to Watch Immediate Support Test: Monitor the behavior around 50939 closely in the upcoming sessions. Potential Upside: If 50939 holds, look for upside momentum as we approach the first week of September 2024. This is a pivotal moment for BankNifty. Stay alert and be ready to adjust your positions based on the critical 50939 level. Regards WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
2