Case Study of Nifty with Elliott Wave ProspectiveHello Friends,
Welcome to our Case Study of Nifty with Elliott Wave Prospective.
In this analysis, we'll be taking a closer look at the Nifty index using a powerful tool called Elliott Wave theory. Think of Elliott Wave as a way to uncover hidden patterns in the market's movement, a bit like solving a puzzle.
Imagine you're on a journey to understand where the Nifty index might be headed next. We'll be using the Elliott Wave lens to interpret the price movements and potential trends. This isn't about predicting the future with a crystal ball – it's about using historical patterns to make informed guesses about what could happen.
Throughout this case study, we'll dive deep into Nifty's recent price action and explore how it aligns with Elliott Wave principles. We'll be looking for waves and patterns that have appeared before and could repeat themselves. These waves might give us hints about potential ups and downs in Nifty's journey.
Remember, the market can surprise us, and there are no guarantees. This analysis is like a compass guiding us based on the historical behaviors we've observed in the past. It's always important to consider other factors too, like news and events.
By the end of this case study, you'll have a better grasp of how Elliott Wave analysis works and how it can provide insights into Nifty's future moves. So, let's jump into the Analysis video study of Nifty and Elliott Wave together and uncover the prospective paths it might take.
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
Elliottwaveretracement
NSE HEROMOTOCO: Are Bulls Strong Enough to Sustain Impulse?Timeframe: 30 min
Brief analysis:
HEROMOTOCO has started a five-wave impulse cycle from the low of 2745.5. Price has accomplished wave Y of wave (4) and started impulsive wave (5). Buyers will have an opportunity with a captivating risk reward to ride the trend after confirmation for the following targets: 3167 – 3210 – 3260+ .
In-depth analysis:
NSE HEROMOTOCO has formed an impulsive cycle after an extreme low. In this case, the security is trading above the 20,50, 100, and 200 EMAs, which indicates that the bulls are in control. The formation of wave two was a running flat which retraced 0.618% of wave (1) at 2795. The third wave was an extensive wave that extended 3.618% of wave 1.
Wave 4 has formed a double zigzag formation with wave W-X-Y, in which wave W was a zigzag, and wave Y is an expanding triangle. The retracement of wave (4) is 0.382 of wave 3. Currently, the price has broken out and traded above wave d, which signals that the big move is about to unfold.
Corrective structure always holds by either wave X or B-D trendline in expanding triangle. The price can take a retracement if the demand is growing with low volume. If the price breaks out at 3131, traders can initiate a long position for the following targets: 3167 – 3210 – 3260+ . The setup will be invalid after the breakdown of wave e.
Target measurements:
100% Reverse Fibonacci of the 4th wave at 3208, and 38.2% extension of wave 1 through the 3rd wave at 3212.
50% Fibonacci extension of wave 1 through 3rd wave at 3261.
Nearby high of wave B at 3167.
We will update further information soon.
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.
BTCUSD in correction phase for long term uptrend.Elliott Wave Analysis : BTCUSD Swing Daily Uptrend, Intraday Downtrend
Trendline analysis on BTCUSD.
Trend Identification: Swing Downtrend BTCUSD .
Support/Resistance Levels: Identify key levels on the chart for potential entry and exit points.
Price Behavior: Daily Bullish pullback with market structure.
Targets: T1 = 27500, T2 - 26500. Check for Entry and Stop-loss.
Risk Management: Set appropriate stop-loss levels to manage risk and protect against adverse price movements.
Confirmation Indicators: Elliott Wave Corrective wave C.
Conclusion: Based on the chart wave analysis of , BTCUSD is Downtrend has been identified. Combine this analysis with thorough research and risk management strategies to make well-informed trading decisions. Avoid counter-trend trading. Happy trading!
(Note: Trading is subject to market risk. This is analysis not an trade idea for trade.)
NSE Britannia – The Last Move of CorrectionTimeframe: 4h
As per the chart, Britannia has accomplished the sub-wave B of wave (4) and started forming wave C.
If the price breaks down the low of wave c at 4314 , Traders can sell for the following targets: 4266 – 4236 – 4214 . A trade should only be initiated after a breakdown has occurred.
There are two price clusters where prices can reverse:
Wave C can be accomplished at 0.382 Fibonacci retracements of wave 3 at 4214.65 . Wave A=C at 4187 . As shown in the chart, it forms a cluster range.
Wave C can occur at 0.5 Fibonacci retracements of wave 3 at 4114 . Additionally, a correction occurs near the previous wave.
Zig Zag corrective pattern and the Case study of Natural GasHello Friends,
Here we had shared some major points and characteristics of Zigzag Correction pattern of Elliott waves.
Also we had shared real example chart study of zigzag pattern as a case study of NaturalGas, in which their are some principles and guidelines, which are perfectly going through in chart of NaturalGas.
Principles and Guidelines of Zigzag correction pattern
1) Zigzag correction pattern is a 3 waves structure which is labelled as A-B-C
3) Subdivision of wave A and C is 5 waves, either impulse or diagonal
4) Wave B can be any corrective structure as 3 subdivisions
5) Zigzag is a 5-3-5 correction structure
Fibonacci measurements
Wave B is always contra trend which generally retraces near 50% or 61.8% of wave A, and can also retraces up to 85.4% to 90% of wave A
Wave C can generally be expected near 100% of wave A, but sometimes if it is extended then it can show 123.6%, 138.2% or up to 161.8% also.
Sometimes if wave C is truncated then it can be near 61.8% of wave A.
But ,If wave C is going more than 161.8% of wave A, then we should be cautious, because it can also be some kind of impulse wave instead of corrective wave.
Case Study of Natural Gas
Natural Gas almost done as expected till now as per zigzag corrective pattern, it would not be wonder if it looks to be doing a double correction higher in wave (ii) bounce & can see 2.786 level sometimes in next week before turning down as a wave (iii) of 5 of (C), On lower time frame if it doesn't crosses high of March 2023, then it can show some down moves to complete wave (iii), (iv) and (v) of 5 of bigger degree wave (C).
After big correction as zigzag pattern which had already reached extreme levels in wave (C) which is more then 123.6% of wave (A), so now anytime it can start fresh impulse moves towards north directions, so instead of finding selling opportunities, one should try to find buying opportunities only after confirmation, and confirmation is price crossing high of march 2023, once its crossed peak point of march 2023 then no selling is recommended, then its only buy on dips with invalidation levels of Low of April 2023 as a stoploss, because it must be ending the bigger correction from last year peak, and can be taken as fresh impulse is started.
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/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.
Voltas - Short term BearishVoltas is in short/mid-term correction.
Wave 4 of ongoing Long term impulse is unfolding.
In the mid-term, ABC is unfolding with the current A wave going on in the very short term.
Retracement of 4 wave is marked with fib retracement.
The analysis is only for educational purposes. Please trade at your own risk
DR REDDY - Sideways to bearishStock is in ongoing impulse on a major timeframe.
In the short term, it is in an ongoing correction.
In the very short term, the Stock is in the B wave, a breakdown of the recent swing low with good volumes can ensure start of the C wave.
A negative divergence of RSI can be observed in the recent upmove.
Due to Ongoing Flat correction(3-3-5), the rule of equality will hold for A=C. The length of C downward will be at least the length of A.
ICICIBANK - EW - Short time correctionStock is trading in Impulse on Major (Weekly and Monthly) Timeframe.
Currently, trading in a short-term correction. Retracement levels are marked on the chart.
4 wave of Major 5 is going on.
Expected to complete short-term correction in max 2 weeks and again start up move.
The analysis is only for educational purposes. Please trade at your own risk
Apollo Hospitals possible Elliot wave countsHello Friends,
Here we had shared possible Elliott wave counts of Apollo Hospitals, in which price has given breakout along with good intensity of volumes in daily time frame, as per Elliott wave structure, chart says that either we are in impulse or in correction, in both scenarios we have to go towards north direction first then whatever may be, as per Elliott wave structure, if we are in impulse then we should have to unfold it as wave (1)-(2)-(3)-(4)-(5) in which we already had completed wave (1) and (2) and currently we are unfolding wave (3), and in other scenario, means if we are in correction phase, then we should have to unfold it as wave (A)-(B)-(C) in which we had completed wave (A) and (B), and currently we are unfolding wave (C), So whatever scenario it may be, at least we are first going towards (3) or (C).
In this study whatever major trend may be ahead, at least we can enjoy this little upward bull run as a wave (C) or wave (3)
Now in wave (C) or (3) we have completed wave 1 and 2 and currently we are unfolding wave 3, also in wave 3 we have completed wave (i) and (ii) and currently we are unfolding wave (iii).
Overall, we are in (iii) of 3 of (C) or (3).
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.
Some significant snapshots are shared below, please go throughout.
Thanks
RK💕
Price has given Breakout along with good intensity of volume and RK's Magical cloud suggests same bullish bias in daily
Price above daily upper band
Price above weekly upper band
MACD in daily positive
MACD in weekly positive along with breakout in histogram
RSI positive above 60+ in daily
DMI ADX positive in daily
DMI ADX positive in weekly
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.
What is Happening in Banknifty?BN has recently broken out it's life-time high and went higher at around 44500 by making a minor wave of last 5th wave. And, now it is correcting and reached almost 61.8% of its correction. I would expect it to recover from this zone. Or if it can't hold this level, it can go further down and bounch back from 70.7% fib level and the trendline.(very likely)
Anytime BN can start it's minor 3rd wave of major 5th wave. So, stay tunned to see facinating move up above 44000 level. What would you feel? Is it go up or down further?
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.
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.
Banknifty's Probable Next Move AnalysisAfter making approx 23.6% correction of probable 3rd Wave, BN is rising higher at 43533 at 12 PM and struggling to go higher. By analysing the wave structure I am in the opinion that BN is probably making bigger ABC correction and may make a downmove upto 42450 level or somewhere at support point. Then after it may form 5th Wave move higher.
If youy're agree with my view point, then leave a comment or message me.
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.
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.
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.
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.
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.
Banknifty's Short-term Analysis on 15 Min ChartWave c is making almost 100% of wave a if it is an a-b-c correction. In that case, we may see a deeper correction to 39000 (61.8% of a-b-c) But if the bank nifty is making an impulsive move (1-2-3-4-5) then we may halt at 39850 (good support) or slightly below at 39800. Either way, a correction is evident. That's why I bought a 39500 pe yesterday. Let's see what will happen. If you agree then please leave a comment
BTCUSD possible Elliot wave counts, are we heading towards 10k ?Hello Friends
Here we had shared possible Elliot wave counts of BTCUSD bitcoin which are aligned from weekly to daily and daily to 4 hourly, so conviction is getting more stronger due to alignment of multi time frame's wave counts.
From the starting point of BTCUSD we had tried to plot wave counts and it's showing that we are now near to complete correction phase as A-B and C, on completion of wave C whole correction wave cycle as a wave (2) must be complete, so after A-B now we are in C wave which should unfold in five subdivisions, in which we had completed 1st , 2nd, 3rd and now 4th wave of C, and now possibly we have started to unfold final wave 5th of C, in which we are near to complete one degree lower wave 1 of 5th wave of wave C of bigger wave (2). As per Fibonacci and Elliot wave measurements we can assume that we can witness new fresh lower lows compare to previous lows.
Question clicking in mind that, are we heading towards 10k ? God only knows. Post correction fresh impulse should start as a fresh journey towards north.
In current scenario if price give some rally upwards which can be part of wave 2, which should not retrace 100% of wave 1, One can find shorting opportunity on rise only, along with invalidation level of swing high of initial point of wave 1 which is pegged at 25271 as a selling stop loss.we are not responsible for any kinds of your profits and your losses.
My studies are for educational purpose only, please note this is not any type of tips or advisory, I am not sebi registered analyst or advisor, please consult your financial advisor before trading or investing.
we are 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.
FORCE MOTORS possible Elliot wave countsHere we had shared today possible Elliot wave counts of Force Motors ltd, on daily time frame, as per Elliot wave structure its clearly showing that we are in correction phase after impulse started from bottom of pandemic period of march 2020 and completed wave 1 till swing high of November 2021, well, if this phase was a fresh impulse as a wave 1, then currently we are in correction phase which had been unfolded as a zigzag pattern 5-3-5 subdivisions like (A)-(B) and now possibly we are in wave C, where we can say that of bigger degree wave 2 will be completed along with wave (C), now wave (C) should unfold in 5 subdivisions, in which we had completed wave 1 and now possibly we can retrace wave 2 as a contra trend. currently it may go bit upside as wave (a) - (b) and (c) inside of wave 2, which should not cross high of 1585 levels, and may turn down again to complete wave 3 - 4 and 5 of wave (C) of bigger degree wave 2.
On completion of wave 2 one can go long in this with invalidation level of 591 for targets above 1700 - 1800 and more.
In both upside and down side invalidation levels are mentioned on chart, if they breaches then we can assume that our study is missing something.
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.






















