Asian Paints is correcting in wave iv (of many times lower degree - means its in a wave 3 of many higher degrees) . It would be a screeching buy at at 2500 levels irrespective of the fact what Grasim does . Wait for that buy point . But at present short . Regards
TCS is correcting in wave iv . Kindly see 38.2% correction is pending on log scale and not on arithmetic scale. This 38.2% would only be price correction . It might be wave A of a triangle . Whenever a corrective structure is completed it will be retraced by more than 0.618% for wave B of a flat or a triangle. Regards
Thanks to the parabolic nature of bitcoin, we will use the log chart in order to correctly visualize the cycles.
First, a short story:
I've seen this pattern drawn back in 2017 , and I was in denial . Not because I thought bitcoin was a dead asset. It was because I had bought bitcoin at $15k, $11k, $7k, $5k - on the way down , not up. So you can imagine my...
Previous trendline support may act as resistance. Also watch out for the Inverse Head and Shoulder on weekly scale, a breakout from both will be interesting
Bank Nifty has formed Dark Cloud Cover candlestick pattern on daily chart which is bearish reversal signal. If we see weekly log scale chart, we find rising wedge pattern formed over a period of 12 years. Significance of the pattern can be gauged from the 3 reversal happened in the same zone in last 3-4 months. 31300-31600 is the upper range of rising wedge at...
