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Elliotwaveanalysis

ASHAPURA MINECHEM - NEW IMPULSE - BULLISHHi Folks, Stock has seen a major breakout on weekly charts from falling wedge pattern. RSI has broken out to confirm the upmove. Closing above 30 WEMA also provide more indications at the change of trend for coming months. Elliott Wave Analysis 1. Completed an ongoing impulse with a divergent 3-5 wave. 2. Correction of the impulse seems to be completed wherein RSI cooled off. 3. Outbreak in RSI, price and volume support indicates towards shift of trend. 4. Halt weekly candle or a follow up move shall confirm the upmove for mid term. 5. Larger structure remains bullish. 6. Targets of larger 5 wave are already marked with fic projections. Disclaimer - Please trade at your own risk, just for educational purposes.
NSE:ASHAPURMINLong
by KunalSaxena10
UPL LTD - BULLISH BREAKOUT - STRONG UPMOVE POSSIBLE - LONG TERMHi Folks, I have been studying this sector(agro chemical) for a while. This sector can outplay operational deleverage since sitting on capex since few years. Recently, they did a rights to lessen their debt to save interest on borrowings. UPL is also a market leader in agro chemicals sector with presence across the globe with an array of topline products. Quarterly results are improving indicating they might be going towards the capacity utilisation they built on capex. Still early days but technically risk-reward is highly favourable. Elliott Wave Analysis 1. Larger 5 wave is playing out on weekly time frame. 2. 2 of 5 seems to be getting over after decent retracement. Good time and price correction happened. 3. A strong weekly candle above 30 WEMA is visible, more follow ups needed with huge daily candles to signify 3 wave up. 4.Low of 2 can act as an invalidation point for this whole structure. 5. Volumes and delivery are very high near the recent bottom indicating smart money interested in accumulation here. Happy Trading! Cheers!! Not a trading recommendation, please do your own due diligence.
NSE:UPLLong
by KunalSaxena10
Bank Nifty Weekly Wave Analysis & Positional Trade SetupReason for shorting: As per Elliott Wave theory, Bank Nifty has completed the 1, 2, 3, 4, 5 moves, and wave 5 went up in a contracting triangle ED (Ending Diagonal). It has completed a degree, and now we are expecting a correction. Based on Fibonacci retracement levels, our minimum targets are 0.618 and 0.786. Time Frame: Weekly Stop Loss: Above ATH (51130) Targets: Mentioned in the chart Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYShort
by WaveMoku
16
BHEL: High Return Idea upto 52%BHEL is moving higher in impulse trend. The Trend for BHEL is positive and the best of the trend is behind us. Prices are currently moving in the form of wave 4 retracement. Time cycle are the crucial areas of reversal and for Bhel it is due on 25th march. So the up move has still more room to cover and we can expect the stock to reach towards the level of 300/320+ in the form of wave 5 by next 4/5 months. Over short term dips can be used as accumulating opportunity with 200 as immediate support with a stop below 170 on weekly closing basis.
NSE:BHELLong
by Chinmayonniftyy
11