ITC is taking base from 199 and has completed 12345 and ABC pattern from March low. Since then it has restarted 12345 and ABC patern again. Curently in minor corrective wave ii of wave 1. Once this gives a reversal which is likely to happen above 200, then target is at least 240.
Currently in minor wave v of wave primary wave 5. At least should be breaking the high of wave 3 which lies at 420.
Final part of up-move is in progress from day low. It is an impulse and wave 1 2 completed and wave 3 is in progress. Once this impulse completes, wave B of (2) also will be completing. After then, we can expect good fall for wave C of (2). BankNifty update: Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking...
Mothersumi has completed corrective wave 2 in wave 5. And now embarking on wave 3. Assuming conservatively wave 3= wave 1, target is 297.
Wave (2) is still in progress and wave B is about to complete in 1-2 days. Banknifty update:
FIB EXTENSION TAKEN FROM SECOND IMPULSE WAVE AS THAT WAS THE START FOR DCB SELL OFF IN 2020 AND BECAUSE FIB EXTENSION IN THIS REGION MATCHES SUPPORT RESISTANCE THE MOST WE CAN NOW SEE ITS IN A CORRECTION PHASE GOOD PRICE TO ENTER IS AROUND 94-95
Linde India is bottoming out near 20 week average and 38.2 retracement level cluster. From Elliot Wave perspective, the next move should either be 5th Wave or an explosive iii of 3. Targets and Stoploss marked on chart. PS: Not an investment advice.
Hello Traders, ABCD Analysis and triangle pattern
First SHORT Target 1623 NEXT First LONG Target 1878 Second Long Target 2037
SPY LOOKING FOR CORRECTIONS IN THE COMING WEEKS
Nifty went below channel a tail can be seen right below channel drawn. Expecting wedge pattern to end by Throw over above channel 15500-600 could be zones to watch out for. Dip can be expected in zig zag fashion towards 15200-100 levels. Just for study purpose only and should not be interpreted as a proposition to buy or sell in any securities.