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Elliott Wave

Nifty - Elliot Wave Update So, thankfully we have been aligning are views with the market and reviewing counts at the right time. Lucky much? :) On May 2nd - We caught the top, when the breakout didn't look convincing We got a good correction (Correction was even better in stocks) and booked out at around 24k on May 9th, and changed views, again as the fall wasn't as bad as it was expected after the end of 5th. Hence, it made sense to expect a 5th up. This change in view helped us ride a good move of +1000 points in Nifty and multiple +10% moves in stocks (crazy moves there). Now, while the view shared on May 9th still remains valid, there's an even more bullish view possible. Ideally, I should have waited for more clarity, but thought that someone shouldn't book out of positions, if it's actually that. So, there are two scenarios: 1. We are in 5th up/ which got done, is about to be done. In this case we head down to 23500 or so and then we review if this bounce was corrective or we are going to ATH. 2. We did 1 and 2 and have started 3 up. Within 3 we started the 3rd up today. If this is true, the run up should continue for next few days. How to decide, I am keeping 61.8% of today's move as a deciding factor. So, if we come back to 24700, I'll be out of longs - will even book cash trades and wait for clarity to re-enter. P.S.: You must be wondering, what the two Orange circles denote - Well they are for reminding me that this price action can be a trap, as it has happened in past. :D Though looking at set-ups in stocks and the way they are moving after clearly defining a base - I am quite confident that the low has been made for this correction. As usual, important to track closely and be nimble to change the view and humble to accept mistakes :) All the best!
NSE:NIFTYLong
by pankajarora232
1
Is BTCUSD still in WXY correction phase ?BTCUSD continues to be correcting till 48K-62K band, this is weekly chart so it will take time. Current up-move seems to be X wave as indicated., Why 51-62K is the band where correction will end ? a. Technical divergence gets resolved here b. 1.618 Fib relation of assumed corrective Wave-W falls in this band Can the current rising segment impulsive ? No because current rising segment is pretty corrective supporting high probability of next wave-Y Will the correction stop at Wave-Y ? May not be as one more leg up (Wave-X) and one more Leg down (Wave-Z) can be formed
BITSTAMP:BTCUSDShort
by jsgadgil
Another Possible Elliott Wave counting of GoldCounting 2: Here, after an impulse, a Zig-zag correction is formed (marked in red ABC) Here, I have assumed that this is just point (A) of further correction (in blue colour). Then the price has gone to form wave (B), and currently the market is in wave (C). This correction will complete near 61.8% (near 3164 level). And from here, a new impulse will start. This analysis is based on Elliott Wave theory and Fibonacci study. This analysis is for educational purposes only.
OANDA:XAUUSD
by theprofityogi
2
Possible Elliott Wave counting of GoldCounting 1: After a clear impulse, the price formed a Zig-zag correction (marked in red ABC). If the correction is completed near 50% (near 3228 level), then the recent upmove is a new impulse. Of which wave 1 is completed, reaching a high of 3435. The market is currently in wave 2, and the next possible moves are marked as impulse counting (blue 12345). This analysis is based on Elliott Wave theory and Fibonacci study. This analysis is for educational purposes only.
OANDA:XAUUSDLong
by theprofityogi
2
Nifty - Elliot Waves - Another PossibilityWell, Nifty is at a place that there are so many possibilities :) This one is in line with the previous one, where I had mentioned that 5 up is pending and 25k can come. I saw a few stocks making an expanded ED and turning, which gave the idea that Nifty could also be doing that. So, here it goes - we go up in an E - 24800 is top of the expanded ED - we might even see a throw over to 25k - but unlikely) and then roll over. After that there will be 2 options: 1. Bullish Scenario - We are just doing a 1 and the retracement we get is 2 (23400 target). Once this retracement is over we head to all time high. 2. Bearish Scenario - This entire leg up was corrective and we head down breaking April's lows. In both cases we should get a decent short opportunity aroun 24800-25000. However, now we have a minor trade for long - I would usually trade this very light and mostly intraday. Will wait for the end of move for short trades. All the best!
NSE:NIFTYShort
by pankajarora232
Nifty - Elliot Wave - Alternate counts - Bullish ScenarioI called a top on May 2nd as the buying looked like a trap - which usually acts as a good end of a trend move. It worked out quite well, but we didn't get a selling momentum, that I expected. So, contemplating if we are still in 4th and there's another leg up pending, which should be: 1. Bearish scenario - C of X - Y down should take us to new lows 2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k. It's a tricky position to be in. Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y. Ride the leg down and then take a call if it's bottoming out earlier or we are heading down? For the time being, I have booked all of my shorts and awaiting clarity. Cheers - All the best!
NSE:NIFTYLong
by pankajarora232
4
STAY AWAY FROM LIC HOUSING FINANCELIC Housing Finance is in down trend since July 2024. It has form a downward sloping triangle. we are in Big Wave E of a triangle and we are going to see one more triangle within a triangle, Once the small triangle which is forming in last leg of E is completed we will see uptrend, but the confirmation will come only after we close successfully above 600. Remember Stock movement is not linear, what that means is after the cross over above 600 we will see a pullback which will be the time to go long, till then need to keep patience. Disclaimer: This Idea is for educational purpose only and its not a buy or sell recommendation. you guys do your own analysis and decide.
NSE:LICHSGFIN
by Swiftstrike
RELIANCE INDUSTRIES IN LAST LEG OF CORRECTION ??Reliance Industries has seen a lot in last few months. Its time for Reliance industries to complete its last leg of correction and then resume its upward journey. 2 possibilities in last leg of correction. 1) It can be an impulsive move which will be in 1-2-3-4-5, which will be overall Wave C 2) It could be a triangle in which case the downfall and so the correction will be limited but boring. Check out my previous chart on Reliance Industries.
NSE:RELIANCE
by Swiftstrike
POWER GRID CORPORATION SHOWING POWERWe have completed the Corrective waves and Impulsive waves have begun. I can think of 2 possibilities as of today: 1) We are in 5th wave which should get truncated and soon the corrective phase which will be either simple or complex will start 2) If we are still in wave 3 continuation then we will reach 339++. In any case we are in uptrend and there is still long way to go. First Immediate target expected it to be 315 and if we are in 2nd possibility then we will reach 330++ soon. Disclaimer: I am not SEBI registered member. This Idea is only meant for Educational Purposes.
NSE:POWERGRID
by Swiftstrike
1
Nifty - Elliot Wave Analysis - Short Opportunity!We have had a good run-up from April lows. Today's buying seems like the last leg up which should end 5th up. Now there are two possibilities: 1. Bullish Scenario: Nifty has completed correction in April first week and we have done Wave 1 in an impulse of 5 waves up. In this case we should retrace 38-50% of the move from April lows. So, expect 500-1000 points in Wave 2. 2. Bearish Scenario: The entire move up from April lows was corrective and part of larger X. X is formed by ABC where C is 5 waves up - i.e. the move from April first week lows. If this is the case, then we head to new low in Y. 21500 or lower. In both cases this is the time to initiate shorts and ride at least 500 points the move down. All the best!
NSE:NIFTYShort
by pankajarora232
3
XAU/USD Elliott Wave Count: Preparing for Final ImpulseXAU/USD appears to be in a textbook 5-wave impulsive structure on the 4H chart, with the market now completing Wave 4 as a classic ABC corrective flat/pennant. The impulsive move from the Wave 2 low has formed clear internal substructures, with Wave 3 exhibiting extended price action, consistent with Elliott Wave guidelines. Currently, price is consolidating in a contracting pattern labeled Wave 4 (A-B-C), which looks to be near completion. Based on wave symmetry and Fibonacci projections, a strong upside move is anticipated once Wave 4 concludes, leading into the final Wave 5 rally. Entry Zone: 3286.875 Target: 3367.440– 3410.210 Stop Loss: Below 3260.190. 
OANDA:XAUUSD
by Money_Dictators
1
FAZE3Q LONGThe Elliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv), and (v), as represented by blue numbers on the daily chart. Stock is in correction now. Wave correction will go in waves (a), (b), and (c) in blue color on the chart. Wave (a) is completed, and wave (b) is in progress. Wave (b) will go in three sub-waves (a, b, and c in red color). Wave a and b is completed and wave c is in progress.  wave c will unfold in five sub-waves (black circle) shown in the chart above. Wave 1, 2, 3, and 4 in a black circle is finished, and wave 5 will start. Wave levels are shown on the chart. Level of Invalidation Wave (a) has been identified as the invalidation level, which is 366.05. Because According to the wave rules, Wave (b) cannot cross the pricing territory of Wave (a). If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears. I am not a registered Sebi analyst. My research is strictly for scholarly interests. Before you trade or invest, please consult with your financial advisor. I am not responsible for your earnings or losses. Regards,  Dr Vineet
NSE:FAZE3QLong
by drvineet
JSFB LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (i) and (ii), which are shown as blue numbers on the daily chart. Journey of Wave (iii) will start. It is anticipated that wave (iii) will have about five subdivisions shown in red color. wave i (in red color) of wave (iii) will unfold in five sub waves shown in black circle. Wave levels of wave i in red color is shown on chart. Level of Invalidation The starting point of Wave (i) has been identified as the invalidation level at 365. Because as per wave rules Wave (ii) cannot cross the starting point of Wave (i). If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:JSFBLong
by drvineet
CHOLAMANDALAM NEEDS BREAK After a good run up any stock needs break. Cholamandalam Investment and Finance Company is no different. What you see on the chart is the completion of the Leading Diagonal, what's coming next is correction a-b-c. Now the question stands is how many days of break is needed before it could resume its upward Journey. If its closes below 1515, then the vacation is long. Watchout for the levels in chart. when its ready it will be difficult to stop Cholamandalam's upward journey. Please refer my earlier chart, hope you guys have benefited. Disclaimer: This is only for Educational Purpose. I am not an SEBI registered member.
NSE:CHOLAFIN
by Swiftstrike
TVS Motors - Elliot Wave Counts - Good RR Short!TVS completed 5 Wave rise from March 2022 till Sep 2024, which fromed a major Wave 3. I would have ideally wanted Wave 4 to correct at least 38.2%, which did not happen. Now that stock is almost at ATH, it offers a good opportunity to explore a short with previous high as SL. The entire zig zag move from Jan lows can just be an X and we get a Y down till at least 38.2% which is at 2025, a good 17% correction from today's price. All the best!
NSE:TVSMOTORShort
by pankajarora232