Elliotwaveanalysis
SPX Weekly update on 18-11-2023SPX is anticipated to have completed the correction against the rally from the low of 2191 in March 2020 of cycle degree. Currently, it is expected to be in wave 3 formation of cycle degree, with the outlook for SPX to extend further high in wave 3 as long as it remains above 4103 and does not break the trend line.
Biocon might surprise Warning! Stop loss is deep 15-20%
Biocon reported 3x profit in Sept23 quarter. As per charts its could have ended long drop from all time high.
Elliott wave count added on charts.
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Roto IN this chart we clearly see that Elliott 5 wave is completed and after that it take upside move.
so here we can take one entry with minimum stoploss for swing trading.. let's see what will happen in upcoming days..
Disclaimer:- Invest at your own risk,, i am not register with Sebi.. This chart is according to my technical analysis which i learnt from past years
sensex longtermviewExamining the Sensex's trajectory from 1980 to 2023 indicates that we are currently in the early phase of a larger bullish cycle, specifically within wave 1 of the broader wave 5. Anticipating a temporary decline before a potential resumption of the overall upward trend in the Sensex.
NIFTY SHORTNifty is currently forming the 5th wave of Supercycle degree, and there's an anticipation of a 5th wave failure. This is expected to mark the conclusion of the rally that began on March 23, 2020. Following this, a decline is anticipated, targeting the range of 15,000 to correct the entire impulsive move.