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MCX Gold: Elliott Wave Insights on Ascending ChannelTimeframe: Daily MCX Gold has been trading within an ascending parallel channel for over 65 weeks . The value area highlights zones of supply and demand, with the control line exerting a gravitational pull on the current price. Within this structure, there are four zones of no trading activity and two neutral zones. A triangle pattern is forming around the control price, indicating a potential price movement. If the price closes above the control line, it could potentially reach the following targets: 77660 – 78560 – 79600+ . On the other hand, if the price breaks and closes below the strong support level, we may witness a short decline, possibly reaching the lower band of the parallel channel. We will update further information soon.
MCX:GOLD1!
by forextidings
1
GUARGUM51! - Key Trends and Price PredictionsOn the NCDEX, guar gum has formed an Elliott Wave cycle, with the final Wave E of Wave (4) approaching completion. A confirmation above Wave D could shift the entire outlook in favor of buyers. From a price action perspective, 9830 serves as a strong support level, while 13,650 acts as a supply zone, both of which have remained significant for over four years. Wave D represents a critical midpoint, ensuring a push toward the upper supply zone once the price sustains above this level or Wave D. If the price has completed Wave (4) and has broken above Wave D, it is likely to reach the upper boundary of the value area, around 13,650 . However, with the ADX (Average Directional Index) at 17, this suggests a weak trend, indicating that the current price movement lacks strength. If the price closes below the demand zone at 9,830 , it could delay the expected bullish move. Traders should wait for confirmation before entering a long position to ensure a stronger trend.
NCDEX:GUARGUM51!
by forextidings
TMCFGRNZM: Breakout Could Fuel Bullish MomentumNCDEX TMCFGRNZM is showing signs of potential growth, but the increase so far hasn't been significant. According to Elliott Wave analysis, the price has formed an impulsive pattern, with wave (c) of wave ((4)) reaching a level of 13,000 . The price is currently in the final wave ((5)) of the impulsive cycle. For this to confirm the impulsive movement, the price needs to break above the level of wave (B), which is at 16,590. A strong resistance is expected at wave B, and if the price breaks through this level, it could boost the bullish momentum, leading to a new high. However, without this confirmation, the price may not be suitable for long-term investment and could remain in a corrective phase. We will update further information soon.
NCDEX:TMCFGRNZM1!
by forextidings
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
IS NIFTY PREPARING FOR 14800?Nifty is forming in a descending parallel channel. Prices are building corrective pullbacks to manage demand pressure and fall from resistance since the start of the correction. Nifty has created a lower low at 15183 and given an upward move of 15927 . Nifty has faced supply pressure on the upper band three times. It indicates that bulls are not exceeding supply pressure and upper band. As bulls give up, bears enter and drive prices to lower levels. 16200 is strong resistance for bulls and the supply zone of the parallel channel. If the price sustains below 16200 , traders can expect the following targets: 15740 – 15326 – 14870 . We can expect a fake-out of the parallel channel.
NSE:NIFTY
by forextidings
15
AXIS BANK: Peculiar Reversion Or Trend continuation?Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA . We can draw two control lines which can be helpful for target measurement. If the price enters into the parallel channel, and after retracement sustains above 680 , traders can trade for the following target of 692 - 714 - 752 . Demand pressure can lead to the price at the upper band of the parallel channel. Failure of sustainability above 680 may lead to a new low. Let market earmark first before you commit to the market.
NSE:AXISBANK
by forextidings
2
Pokarna Stock Is A Money-Making MachinePokarna has completed its impulsive wave c of the corrective wave ((4)). Wave C has traveled 100% Fibonacci extension of wave A at 548 . Currently, the price has broken down the A wave at 585. If it sustains below 585 , traders can expect the following targets: 558 - 536 - 505 . 505 is strong support because corrective wave 4 accomplish near the corrective wave 4 of a lower degree. If the bull fails to keep the price above this level, we can see a big downfall. Otherwise, the price will touch the control line and then the upper band of the descending channel . I will update further information soon.
NSE:POKARNA
by forextidings
Elliott wave projection: JSW Steel Trend AnalysisJSW Energy has been forming a downward channel for 22 weeks, and Elliott's projection illustrates the formation of a corrective structure. Traders can short for the following targets: 289- 278 - 262 The corrective pattern started unfolding after a high of 408. Let's discuss wave formations and the Fibonacci relationship of correction. Wave ((A)) is an impulse pattern and retraced 78.6% of wave 5. Wave ((B)) is a double zigzag and retraced 61.8% of wave ((A)). Wave ((C)) is unfolding its pattern, and it has broken down the descending channel of wave ((B)), which indicates that wave impulsive wave has started.
NSE:JSWENERGY
by forextidings
2
AB CAPITAL Has Completed An 8-Month-Old Correction.According to the Elliott wave principle, AB capital has finished the corrective wave ((iv)). Price carrying on the impulsive wave (v), yet traders shouldn’t take the position without a proper signal. If the price breaks wave (X) , the price will surely make a new high because it will give evidence of the impulsive move. Price may take retracement as wave x works as a resistance which can be the best entry for bull traders. We can see the following targets: 127.70 138.96 151.2 165.9+ Invalidation: breakout of the minor channel.
NSE:ABCAPITAL
by forextidings
8
Nifty Update: The Case Of Initiative And Response Between Bulls Nifty has completed the law of similar action. It has broken the corrective channels and touched the lower band at 16892. Price has faced support on the lower band and responded with demand by touching the upper band. At this time, the price is out of the downtrend channel. In my previous idea, I have mentioned that if the price can't break the pivot point, there are high chances of price excess. Our nearest lower high (LH) is 17403 , which may react as a resistance. In a nutshell, if nifty breaks the pivot at 17621 , there are higher chances of the trend changing. Before reaching the pivot point, it has to break the resistance line. Failure will be the cause of excess.
NSE:NIFTY
by forextidings
8