According to elliott wave rule , in an impulse wave 4 cannot intervene into the the territory of the wave 1 . The current structure shows that USDCAD is forming a wave 4 & is likely to end soon. One should go short on any rise keeping SL of 1.2595 & look for the target of 1.2285 and 1.20500 and below.
Thermax today came out of long consolidation and gave flag breakout.
Wave 5 is started and expecting to go towards 1900.
Other details with entry and stop loss on chart.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own...
Ultratech Cement had stellar rally from 2900 to 8000+ looks to be heading max 8532 which is max possible upside for it as wave 5.
Then a corrective wave will start towards 6300 which is 0.382 fibonacci levels.
Notice MACD Negative Divergence price making higher high and MACD higher lows.
DISCLAIMER:There is no guarantee of profits nor exceptions from...
Heading in the suggested direction & getting a close opportunity at 89.55 in April/May 2021 gave dollar bulls a better grip.
Falling below 88-89 only will trigger the next downside move or it will touch the (a) - (c) trendline & finish (e) wave within the next higher degree wave-4. Thanks ...
Usdjpy is unfolding in a complex corrective structure as a double zigzag. One should sell on rise near 113.6-113.7 keeping SL of 114.05 for tgt of 112.9 .
Wave 3 extended 161.8% of wave 1, and we can see a powerful rally in an extension of wave 5.
Hind Petrol Futures can hit the following targets before Oct end.
Target 1: 352
Target 2: 389
Target 3: 400
Where can we enter? The following rules can help you get the perfect entry.
A. Upper band of the parallel channel at 290 .
B. High of 3rd wave at 312 .
...
HDFC (Closing Price: 2896.15)
According to Elliott Wave theory, HDFC stock price will keep drilling upward. And we may see Housing Development Fin price at the following levels: 2986 - 3049 - 3153. But intraday traders should worry about the support trendline of the parallel channel because HDFC price may try to retest the support trendline before the trend continuation.
Nifty seems to be entering in a corrective mode.
As per Wave count it seems that we have completed 5 waves impulse nr 18700.
Considering speed at which nifty has gained this height I think next correction will take much longer as there need to be time spent at these levels.
Incase we are in correction then till march 2023 this phase is likely to...
The chart of PSU BANKS had completed the 5th wave of Elliot waves and has started correcting. If my prediction goes well we can see a recovery in these stocks and then a steep fall from there (roughly around Diwali time).
PSU BANKS- SBIN, CANARA BANK, BANK OF BARODA, PNB, INDIAN BANK, UNION BANK. Keep these stocks on your radar.
After a long term downtrend , Stock has given a breakout from an Ending Diagonal Structure which suggests that the previous trend is over & a new trend is developing . With the formation of HH HL in an impulsive manner we can say that stock has turn around & is ready to move up. Stock has made a high of 213 breaking all the previous resistance in the zone of...
Price has completed the corrective wave 4.
If the price doesn't break the 3rd wave's high, then the corrective wave will begin. Furthermore, the 4th wave can be extensive (between the range of 1014 - 1475).
The target for Swing Traders:
Target 1: 1525
Target 2: 1632
Target 3: 1764
The target for Day Traders: 1455-1479-1490
If nifty breaks the upper band of the parallel channel, our following targets will be.
18164
18241
Nifty can remain in a parallel channel (PC) before further advance. That can be up to support line of PC (B) or control price.
Bank Nifty has completed the corrective wave (4) at 31208.
After the climax of wave (4), we have seen an impulse phase with overlapping nature. According to Elliott's wave theory, 5th wave can become an ending diagonal.
I will update the intraday chart of the bank nifty soon.
Stay connected.
Intraday & Short-term outlook of Nifty 50:
Nifty has completed motive wave (iii) at 17792 .
Wave (iv) is forming and, it can have a common retracement of 38.2% .
The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169
According to the rule of corrective wave, it remains under the channel.
And the impulsive wave...
The current structure suggests that after the completion of larger degree 4th wave correction , Jindal steel is rising in its 5th wave progression of impulsive move 12345. Of which we have seen a lower degree impulse wave consisting of 5-waves & post that we have also seen a three wave correction as ABC with C as an ending diagonal on lower time frame. As per...
