CRUDEOIL APRIL FUTURES (SWING CALL)
60 Mins Bar chart (log scale)
Bearish Sequence
Wave 5 of 2 currently in progress
Expected Target towards downside is @ 4100 to 3957 odd levels
Apollo Hospitals seems to have completed a W-X- Y correction, there are other ways to label the correction but that leads to the same conclusion - indicating a resumption of the uptrend. Look to enter on strength above 3040 levels expecting new highs
Wipro seems to have completed a W-X-Y correction at its recent lows. Note that X wave is a triangle which is clearly evident. The subsequent upmove can be charted out as an 1-2 with waves 3-4-5 still awaited
A lot of the India IT stocks are headed up - see recent posts on Mindtree/TCS
STAT BANK OF INDIA
Daily Chart (log scale)
SBIN is projected to go up over the upcoming period.
This projection most likely represents the longer term forecast, based on the time range that's analysed.
Confirmation to Buy @ 330 to 321 odd levels
Holding Period: 2 to 10 weeks
Projected Target: 490, 510
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After a 3 wave correction the nasdaq composite managed to move up in what even I thought maybe 3 corrective. But maybe it is a leading diagonal and that changes everything. We have extensions long term and a new impulse wave up in wave 3 of 3 started for the Nasdaq. Then it changes the entire perspective for stocks. Bullish gaps as of now typical with 3rd waves
The fibo retracements suggest the range between 187-181 as important zone for ending of this downmove...
It could be a good place to accumulate fort medium term...
Anything below 170 zone would invalidate the idea...
Stock moved 14% last session with 2931 stop loss we can ride 5th wave for given targets on chart
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future...
The rally from 1830 to 2231.9 looks like a Leading Diagonal which could be Wave 1 or A and the recent correction could be Wave 2 or B. The correction is around 0.618 level and the price is penetrating around 0.618 level. So what I think is that if Reliance starts moving higher from here the next impulse could be very strong.
This is just a rough idea at this...
Info edge could be completing 4th wave correction or may give final correction in Z wave till 0.618 fibonacci level.
Other details on chart. Since exact end of 4th wave not know so Swing low would be stop loss
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are...
BHARTI AIRTEL LTD (Neutral Scenario)
240 Mins Bar Chart (log scale)
Wave 1 ended at 623 level on 4th Feb'21,we are still in the corrective structure now which could end at 61.8 % of Fib i.e. 481.25 level in coming days
