Hindalco charts are reflections of Aluminium Price moves only difference is Hindalco did a little more than 50% Retracement of Wave A fall where as Aluminium did very small retracement ideally Hindalco should head towards 235-200 levels in Wave C in next few months.
Please refer my last post on yes bank.... The last upmove which I considered as a motive Impulse was actually a corrective Impulse C of wave B of higher degree.... Now the current downside move is fast and looks impulsive so it may be considered as C of Higher degree... According to this it should finish below 12.25 but finish above 12.25 as it is Irregular...
Early from low of mid june JSWSTEEL scrip is rally in 5 five sequence
the fifth wave formed as ending diagonal with truncated internal sub wave of 5, a truncated wave formed means it cautions impending price move as sharp raise/fall. in current case bullish ending diagonal with truncated fifth wave means sharp price fall is expecting.
Entry: below 727
Target:...
As shown in the Reliance has completed Wave 1 of higher degree and Retraced almost 61.8% of wave 1...Therefore it is good opportunity to accumulate the stock on every dip from here till it holds 2313...
from EWP it is evident in bearish trend wave c is unfolding. With in wave c smaller wave 1 and wave 2 are completed now wave 3 is unfolding , in medium term with momentum could drop price towards 210 then 185 levels ,
Also Upper boundary line of parallel channel is testing if it fails to break above the upper boundary channel it is bearish in trend if not this...
Technically @tatapower is showing many bearish signals at a higher timeframe. There are significant confluences in the range of 250-260. Reasons I would look for a short:
1- Looks like a class book pattern -Wycoff Distribution pattern(Currently in phase B later half end, so we maybe we see 250-260 first)
2- It is in the 5th wave according to Elliot wave theory...
The global market indicates a negative start. The market nature is bearish to neutral. The market may start with a gap-down. After the gap-down market takes a pullback around the major key levels, then we will expect a minor pullback. And if the pullback breaks the previous day's minor high, then we will expect minor consolidation to pullback continuation. On the...
AB Capital had retraced 38.2% of curren move and this is lower degree of wave of higher degree therefore it must not go beyond this point. So, it can be longed for Immediate Tgt of 185 and 240 for Long term
Seeing the Nifty chart... It seems that wave 5 is unfolding in Ending Diagnal as it's has entered in wave 1....if not than the Nifty Move from 15183 to 18887 will ba ABC.... However we will take it as ED till it is Holding 17800.
NSE:NIFTY
Retraced towards sub wave 4 low as per #Elliottwave
Wedge formation with RSI Positive Divergence.
Near Support zone . Breakout of 1 year consolidation.
And Uptrend Line.
With Market Mood in Fear.
High chance we are nearing end of Correction in wave 2.
NSE:NIFTY
Market is consolidating in a range since last 4-5 days.
And range is contracting/narrowing.
Market will give strong move after breaking range.
Awaiting Breakout.
Mostly on higher side.
The global market indicates a positive start. The market nature is neutral to bearish. Market may start with a gap-up, after the gap-up market sustains the major key level then it will go further. On the other hand, if the market rejects sharply around the major key level, then we will expect a correction.
The global market indicates a positive start. The market nature is neutral to bearish. Market may start with a gap-up, after the gap-up market sustains the major key level then it will go further. On the other hand, if the market rejects sharply around the major key level, then we will expect a correction.
The Elliott Wave theory can be a powerful tool for traders, but it's important to remember that it is just one approach to market analysis and should be used in conjunction with other technical and fundamental analysis methods
The levels are marked as shown on the charts and looks like a corrective wave.
Using fib levels to draw a forecast, the supply areas &...
Pls see my previos post... Nifty is in wave 5 of higher degree and completed wave 3. Wave 4 probably end in triange form as elustrted on chart. Chart is on 5 min TF and will be Invalid above 18320..
Bullish as long as 18133 holds which is wave 4 low; once broken the price structure would provide confirmation
2 alternative wave counts are shown. purple one has price action completed; whereas green one can potentially be an ending diagonal which as per fibonacci ratios can end around 19500. If this happens; intermediate wave (B) would have completed and post...
The global market indicates a positive start. Market nature is slightly bullish to neutral. the market may open a gap-up, after the gap-up if the market takes a consolidation, we will expect a minor pullback. On the other hand, if the initial market rejects sharply then we will expect a correctional wave (it should break fib level 38%)
The global market indicates a positive start. Market nature is slightly bullish to neutral. the market may open a gap-up, after the gap-up if the market takes a consolidation, we will expect a minor pullback. On the other hand, if the initial market rejects sharply then we will expect a correctional wave (it should break fib level 38%)
