Elliotwaveanalysis
Nifty looking for zig zag correction 15th Jan 2021Bounce retracement towards 14530-50 possible after which should go down.
Confirmation entry on sell side if 14435 breaks (non risky wait for this 14435 break level)then 14400-14300-14270 possible on downside
Stop loss of this analysis 14618
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 judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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Last leg of correction before ATH | Towards $700-800Last leg of correction before ATH | Towards $700-800
AUDCHF : Looking for a great short opportunity!AUDCHF is looking for a great short opportunity, because AUD is weak across the board, First TG at 0.67500 & second TG at 0.63700. At the top there is an H&S along with ascending channel formation
Nifty Ending Diagonal About to Complete 11-Jan-2020Keep watch on level 14380-14428-14472 for reversal point
Depending on above levels possible downside levels 14060-14080-14096
These targets are of 0.618 Fibonacci levels of length of Ending Diagonal Wave 5(4-5 orange colour).
Below 0.618 move will trigger further fall next levels will be updated once top is formed
DISCLAIMER:
There is no guarantee of profits or no exceptions from losses.
The stock and its levels discussed are solely the personal views of my research.
You are advised to rely on your judgement while investing/Trading decisions.
Seek help of your financial advisor before investing/trading.
Investment Warnings:
We would like to draw your attention to the following important investment warnings.
-Investment is subject to market risks.
-The value of shares and investments and the income derived from them can go down as well as up.
-Investors may not get back the amount they invested - losing one's shirt is a real risk.
-Past performance is not a guide to future performance.
-I may or may not trade this analysis
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SBI LIFE Aiming for 1kSbi life broken resistance and looks bulish can be added for 1003 target near 920-30 SL 894
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice 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 returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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BTC forms sub-wave a of C non-standard in [Day timeframe cycle]Where are we?
Bitcoin is the most popular coin at this moment, last time I heard about bitcoin around in Mar the price was around 7000$ but unbelievable 9 months passed, it rallies up to 30000$. This phenomenon indicates that we are in a powerful impulse wave of a supercycle. We can not count wave three as an impulse wave because wave 2 does not comply with the rule of degree
Then we zoom in on wave c we will notice that wave c also forms zigzag upward, I label waves with the red color this one we can't guarantee that uptrend is impulse standard or non-standard. So I label 1 or (A) and 2 or (B). It is very strong to make elongated zigzag in elongated zigzag. You can notice that wave 2 or (B) is in the form of strong b-c failure like the bigger cycle. By the way, the corrective process is already finished. We are currently in wave (C) I further label sub-waves of wave (C) as a non-standard small x wave because it moves in the trendline channel, I can count it more than 5 sub-waves, and also it breaks the essential construction rule So after the x wave corrects the previous zigzag. It's now ready to form the next upside wave, mostly it will form another zigzag to make a double zigzag. In conclusion, we are in the wave an after wave x correct former zigzag in wave 3 or (C) and wave (C) in wave x3 of supercycle.
How to trade?
I must admit that bitcoin is one of the most difficult things to trade on Earth. I don't recommend you to make a short term trade. Think long term, it has the potential to change the world so in the future their chance of soaring up more price is possible. So if I must trade I will but right now some amount of it For someone who wants a better opportunity you can wait to wave a to complete, it may complete at the resistance zone in the blue horizontal line that I plot or higher but after that, It'll correct but I think not that much because the previous zigzag: wave b retraced around 38.2% of wave a.
Ans: My suggestion is to buy it
Warning!!!
Manage your capital very well don't, be too confident - This is just one of the idea that I analyze based on my own experience of learning Elliott wave analysis - Decide by yourself
"Don’t focus on making money, focus on protecting what you have."
Thanat Vichachai
BHEL Elliott Wave Analysis Jan 2021DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading.
I may or may not trade this analysis
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EURUSD/ Wave 5 is terminated/ Next target 1/3 of the privious 4Price on Thursday rally up to 1.23082 and follow by the sharp downward move, this one causes me some money but it's fine ahaha, because if the trend really changes there is more room to trade.
From the book called " Mastering Elliott wave by Glenn Neely" - The degree of the next wave must retrace 1/3% Fibonacci of the previous wave which is 1.20726 but normally from my experience it mostly retraces to 38.2% Fibonacci at least or even 50% is possible. Then the price will move upward it can form a wave b or wave 2 but shortly I think the price will fall after the new year.
How to trade?
I suggest trade mid-long term because the price already dives down a lot, you can wait for a pullback around 38.2/50% of the price which related to the previous high that can be a resistance zone.
For me, I will wait and enter the trade in a shorter time frame. If I see the opportunity when the price pullback I will make another analysis.
Warning!!
This may not be the end of wave 5 of the pattern, it can also be wave x1 of wave 5 which is corrected to form wave 2 of wave 5(it means wave 5 is not yet finished. But rarely this will happen because of the rule of equality and degree.
Wish you guy Happy New Year!
Pause trading for a day and enjoy your life with your family
For those who stay alone don't be sad, you can celebrate with me and with candles ahaha
"Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets"
Wait for a confimation of corrective wave 4 and ride wave 5 up ! It seems that wave 3x has not yet finished, the apex price is now a wave 5 of wave x3. The next target is wave 4 corrective in the blue resistance zone 38.2%/50% Fibonacci, it can be sharp and take a shorter time than wave 2 combination. Then it can rally to end wave 5 of the big cycle wave A in a 1h time frame.
GBPUSD/Wait!!/ Short Wave.5 Bullish - Follow by Long BearishWave (b) of B disclosed that it's not yet finished. Wave 5 is moving up bring the price to around 1.35744
if the price choose the downward direction, it means that wave 5 is finished but this case is rarely happened referring to
degree of time.
Wait!!!
For the market to choose a direction. The upside is small. Don't rush!
"Money is made by sitting, not trading."
USDCAD good long candidate.USDCAD CMP 1.27779
Elliot wave study.
Currency is on verge to complete its impulse phase,, wave 5 of impulse phase is on verge to complete,, if corrective phase A-B-C unfolds.. good rally can be seen ,,
Double bottom formation around 1.26800 levels or support from mid line of falling channel can be seen, from where good reversal is possible..
Will wait for reversal confirmation and go long accordingly..
Good long candidate....
USDINR Good long candidate.USDINR CMP 73.17
Long term trend line support around 73.10 levels, Previous 2 bottoms around 73 and 72.80 levels.
Previous resistance of several peaks would act as strong support in range 72.2 to 72.3.
Elliot wave count suggest, impulse phase wave 5 may complete range of 72.2 to 73.00.
Good levels to go long in this range..
View gets violated below 72 on closing basis..
MCX Zinc Will Touch 240 level by EWTHere's the daily chart of the MCX zinc. It has made two Elliott waves. The first one is bearish, and the second one is bullish. The bearish was started from the 11th of April 2019 and ended on the 19th of March 2020. The bullish one started on the 19th of March 2020, and the fifth wave of this Elliott wave is remaining. In the Elliott wave theory, each wave has five sub-waves.
Short-term investors can see the following levels soon: 228 - 234 - 240
Berger Paint good short candidate.Berger Paints Spot CMP :- 735
Bearish Crab Pattern formation :-
PRZ zone :- 726-738 levels.
SLZ zone :- 760 levels
1.618 XA :- 726 level
2.618 BC :- 738
Elliot Wave Study :- Currently counter is trading in impulse wave 3 of impulse phase.. At the moment wave 3 have extension of 2% of wave 1 which is around 745 levels.. if wave 4 unfolds from this levels retracement till levels of 660-620 possible.
Chart Pattern :- Rising parallel channel , Currently counter is trading around resistance trend line of rising channel pattern,, if unable to sustain around this levels and fall to mid line and lower support line of channel.
RSI :- Price is making higher high and RSI is making lower high, bearish divergence..
Good short candidate.....
Asian Paints good short candidate.Asian paints Spot CMP :- 2650
Elliot Wave Study :-
Wave 1:- First wave of impulse phase, consist of 435 points.
Wave 2 :- Corrective wave of impulse phase, have retraced around
Wave 3 :- Longest and strongest wave of impulse phase, consist of 1170 points , which is 2.618% extension of wave 1..
now if major wave 3 matures around this levels and corrective wave 4 unfolds we can see price retracing to 0.386% of wave 3, price which is around 2250 levels.
RSI divergence :- Price is making higher high. where RSI is making lower high,, bearish divergence.
Good short candidate....
Lets find New Nifty Top with Fibonacci and Elliott Wave TheoryDISCLAIMER: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 judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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Lets find New Nifty Top With Fibonacci and Elliott Wave Theory
To everyone's surprise Nifty after declining more than 3% on daily chart on 21st Dec 2020 recovered and mere few points away from 13777
Look at Blue Impulse Wave plotted on Chart
Now with Gap up opening on Thur 24th Dec it is confirmed that wave 3 in progress and wave 3 ended above 1.618 Fibonacci level
Wave 4 was very short and didn't even retrace 0.236 levels so now if wave 5 is in progress then should reach to 13940-65
Now Look at Orange Impulse Wave
Wave 3 in extended case can go till 2.618 Fibonacci level 14017 next in wave 4 again 13700 will be tested finally wave 5 should end at 14212
MNM good short candidate.MNM spot CMP 710.
ELLIOT WAVE STUDY.
Counter have completed it impulse phase of upmove and currently trading in corrective phase ,, if running wave is B of corrective phase,, it can retrace to levels of 61.8% to78.6% of wave A , price wise which is around 730 to 750 levels.
If wave C unfolds from this levels good fall in price can be seen which can lead counter to levels of 640 and 585 also.
Price action if observed , lot of distribution took place in range 730 to 765 levels . around 4-5 doji candle seen around peak price and a breakdown from that zone which confirms distribution in that range.
RSI :- RSI have given breakdown from support of rising trendline and at the moment its retesting breakdown levels,, if it further continue its down trend it can fall to levels of 30 and 20 also,, accordingly fall in price can be seen..
Good short candidate on rise..
Banknifty Deep Zig Zag correction in Wave (4)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 judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis. Details in description.
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NIFTY ELLIOT FORECAST FOR 28 DEC 20Technical Analysis based on technical parameters (No Noise)
Nifty unstoppable...Bears in hibernation....why not ??? it winters.
As what I observe and analyze Nifty have completed with its 5 wave impulse minor structure...5th wave traversed 100% which makes it to 13777 and what next nifty made a high of 13777.5 and thud...The fall was fast and furious...The wave was a 3 legged structure and now the reversal(UPSWING) what I observe likely to make again a 3 legged structure...which may likely "NO" this I can say 100% will break the recent high... and which may ultimately conclude as a flat pattern...This movement will be on a higher time frame. Lower TF chart indicates nifty on Monday likely to revisit 13520...chart analysis as attached.
Assimilation only for educational purpose.
Trade as per own risk assessment.
EURUSD Good short candidateEURUSD CMP :- 1.22
Elliot wave study :- Impulse phase for currency is on verge to mature,, resistance around 1.22725 to 1.23000.
If corrective wave unfolds around this levels good retracement in price can be seen till level of 1.20000 to 1.19000.
Rising channel pattern formaiton :- Resistance of mid line of channel around 1.22000 levels might give good reversal trade .
RSI divergence :- Price is making higher and RSI is making lower high, bearish divergence.
Good short candidate.
U.S DOLLAR DXY INDEX Good long candidate.U.S DOLLAR DXY INDEX CMP 90
Falling wedge chart pattern formation.
Elliot wave study.
RSI bullish divergence.
Index is on verge to complete impulse phase of elliot wave,, if corrective wave unfolds good rise can be seen.
Support trend line falling wedge pattern around 90 levels ,,with bullish divergence in RSI ,indicate reversal.
TCS to make Cup and Handle to head higherDISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading.
I may or may not trade this analysis
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TCS corrected with big red candle near the end of the day on Friday 18th Dec 2020
The gap created at opening was filled as well which are sign of bearishness.
It is expected another round of correction till
2785 which is 0.382 Fibonacci or 2750 which is 0.5 Fibonacci level
Then again next leg of rally will take place.
If TCS breaks 2898 level or gap up happens above this then it will be called Cup breakout.
In both cases TCS should head towards 3010-3040 levels
