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Elliotwaveanalysis

GRASIM CASe studyGrasim spot cmp 1750 levels cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels. decisive breakout on any side would lead to a move of 8-10% on either side. pre assumption of harmonic pattern formation. if the formation goes according to ploting, counter would give sharp retracement to levels of 1450-1500 levels, elliot wave suggest counter is trading in 5th wave of motive phase, now as there are cofluence of resistance around 1790-1830 levels wave 5 can be trucated in nature and soon the motive phase might come to end, now if happens so motive phase would lead counter to good retracement levels,, time to book you long position on every rally, now investment should be considered only above levels of 1835 on 2 consecutive close, Bulls need to be cautious at current juncture.
NSE:GRASIM
by RUDRA007
Is Crude Oil forming wave (5) of its wave cycle?Is MCX crude oil downtrend a trap? According to the Elliott Wave analysis on the crude oil daily chart, it has completed wave (4) and trying to move out from the Parallel channel’s (PC) control line (CL). If that successfully remains above CL, crude oil prices will hike from CL to the resistance line of the PC. That’s a direct call for target levels of 7800 – 8000 – 8360 – 8880+ for short-term investors. Long-term investors must focus on the wave (5). Black gold will touch the level of 10000 and march for the level of 11000 on the 5th wave completion.
MCX:CRUDEOIL1!Long
by freestocktips
ITC case studyAs per elliot wave theory counter is on verge to mature its motive phase, ascending wedge pattern formation have resistance zone around 355-361 levels counter have given bearish reversal on smaller time frame below 354 levels now zone of 354-360 would act as strong resistance zone for counter. bearish divergence on rsi with respect to price, use rally in counter to exit from long positions, till counter does not give 2 consecutive daily close above levels of 363 down side if corrective phase unfolds counter might retrace to levels of 320-300-290 Time to be cautious on your investments.
NSE:ITC
by RUDRA007
Interesting Period Observation in Nifty movement going forward* I personally don't give too much attention on moon-phase for price-action * BUT One very interesting observation I have. Just use a simple prediction where the Nifty can go from there. A couple of observations: The dotted line is the prediction based on the last 50 days similarity pattern of the price action. Its going up for 14 days (1 moon period), then down to another 14 days and then again up for 28 days! And the movement is perfectly inline with Elliot Wave 1-2-3-4-5 impulsive price pattern. Just an observation, not a recomendation.
NSE:NIFTYLong
by pradipandsuvra
3
#GOLD $XAUUSD primed to shoot upGOLD and SILVER have been in a downtrend after a surge in Mar of this year which was a reaction to the Ukraine invasion. A lot of "GOLD is a safe haven " traders may have entered in post the invasion and have been stuck for over 6 months as the metal moved down over 21%. Of course the continuous downmove since then may have forced a lot of exits. We can now see that GOLD is trying to break upwards of the downward sloping trendline. A divergence on the MACD can also be noted. If GOLD can sustain above the trendline , then we look to catch a sharp upmove reversing the pent-up buying pressure. Keep stops below recent lows and stay long above the 1650 levels. SILVER should shadow the upmove if this resolves upwards
TVC:GOLDLong
by SolomonsView
1
US OIL ELLIOT WAVE COUNTS AND BREAKOUTCrude oil is looking Bullish ahead Reasons are mentioned below Inverted head n shoulder Neckline Breakout Price taking support from RK's Mass psychological cloud and RK's stopline in daily time frame Possible wave counts on weekly chart Possible wave counts on Daily chart Possible wave counts on 4 hourly Possible wave counts on 1 hourly Price challenging upper band on daily time frame macd positive cross in daily time frame macd converging towards north uptick in weekly time frame RSI uptick above 60 in daily time frame DMI ADX positive uptick in daily time frame Price closed above 50dema, 100dema & 200dema Weekly close above 20WEMA, its also above 50 WEMA, 100 WEMA & 200 WEMA. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
TVC:USOILLong
by RK_Chaarts
EWT - MCX Zinc Is Ready For Its Final Impulse MCX zinc has been forming the corrective structure in descending channel for more than 28 weeks. The ending point of impulse was 383.55 . At present, MCX zinc has accomplished the corrective wave ((B)) and started forming sub-waves of the impulsive wave (C). Price has completed 78.6% retracement, where wave A = C at 217 . Zinc has accomplished wave (4) of wave ((C)). Wave ((C)) retraced 61.8% of wave ((A)). Zinc is trading below 50-day EMA , and RSI is above 30 . Zinc will try to test the price hurdle of 267 , so traders can sell zinc nearby 267 for the following targets: 252.6 - 246 - 244. Target measurement using the Fibonacci relationship: Wave (5) of wave ((C)) can end near 161.8% reverse Fibonacci retracement. Wave ((C)) can occur near 100% extension at 217 , where wave A = C . Wave ((C)) can cease to exit at the lower band of the parallel channel. I will update further information soon.
MCX:ZINC1!Short
by forextidings
1
#NIFTY heading down in Wave C to complete correctionNifty's rally from Mar '20 topped out on 18/Oct/21 at 18594 (near month futures contract) - almost a year ago. Since then we can clearly see a sideways move that has gone within the earlier range for almost a year. One can see the subdivisions tracing out a complex W-X-Y correction. The upmove from 15676 starting early Mar this year topped out last month at 18123 completing the intervening X wave. The down-up move since 12/Sep/22 subdivides as 5 waves down followed by a 3 wave upside correction. This is now setup for a resumption of the down move in Wave 3 - should be surprisingly fast and deep when it comes , heading to the 13300 - 15100 region. The view stands as long as the the recent high of 18123 is not broken on the upside
NSE:NIFTY1!Short
by SolomonsView
22
NSE Bajaj Finserv - Can buyers face falling knives? Timeframe: 8h Price started to form impulsive wave C after Bajaj Finserv completed correction wave B. There is also the possibility of altering the count with W-X-Y. Wave (b) retraced 50% of wave (a), which signals intense supply pressure. If the price breaks wave (a) at 1621, traders can sell for the following targets: 1594 – 1569 – 1549 . Calculations are based on Fibonacci extensions. Price has completed 100% Fibonacci extension in wave A so that wave C could extend by 161.8% . Currently, the price has broken down to 50 EMA , and a negative closing will result in further price declines. Parallel channel throw-over is one of Elliott wave principle’s best target measurement tools. Targets will be extended in case of an extension of the trend. I will update further information soon.
NSE:BAJAJFINSV
by forextidings
5
US Dollar Index - are we ready for new all time high ?US Dollar index has recently completed his fall of wave 4 inside the bigger degree wave 3, and now possibly wave 5 has been started of bigger degree wave 3, Inside 5 it has completed wave 1 and wave 2 of 5, and possibly started to unfold smaller degree wave 1 of 3 of 5, now should retrace as wave 2 of 3 of 5, it would be a buying opportunity with invalidation level of 111.9040, One can go long in dip of wave 2, or can go long on breakout above wave 1's high, in both scenarios stop loss could be same as invalidation level 111.9040, which is nothing but low of wave 1, because as per waves principle wave 2 will never retraces 100% of wave 1.In 1 hour time frame RK's Mass psychological cloud is suggesting to go long only, Because it's above cloud, so don't go short. possible wave counts on 1 hourly chart possible wave counts on 4 hourly chart possible wave counts on Daily chart RK's Mass Psychological cloud in 4 hour RK's Mass Psychological cloud in 1 hour Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
CAPITALCOM:DXYLong
by RK_Chaarts
1