Hey, whassup reader?
I bring you an analysis of Nifty 50 using Eliott waves and found the price to be respecting the waves theory from 1996 till today.
Here's my approach, observations, and some prediction mentioned below for you. Like and comment on what do you think about it.
You can zoom out in the chart to see the wave pattern formation across time....
Stock is moving in a clear uptrend, you can trade on both the side in the channel.
When touches the trend line on down go long and sell on the upper trend line for the short term.
Trade for 1st June can be taken to short it for the target price of 1230 as from the divergence can be seen.
Pro tip - Swing traders can hold the stock for the short term. It is...
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As shown here, HDFC did followed our move, now will see whats next, hdfc is up on touching new heights of upto 1003. Positional and Intrday as well, as i always say positional is once Intraday so Buy above 962.50 for steep targets of...
The stock will remain bullish because:
1) Techinal indicators are bullish on multiple time frame with CCI=152 etc.
2) it has broken a range and a breakout can be seen clearly.
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the stock will remain BULLISH according to me as:
1) The stock has passed a major resistance with considerable volume.
2) Its forming Elliott impulse wave pattern 12345.
3) Its following the previous price action as highlighted.
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The stock seems bullish to me because:
1) The stock has Recently Broken its major Resistance level.
2) The Earlier price action signifies its going to rise (History Repeats itself).
3) Elliott Corrective wave has completed and now we are in Elliott Impulse wave zone 12345.
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The Stock Has completed double bottom formation and has breached the long Resistance, There are Chances of strong Uptrend and i would recommend you to go for this trade if you find it good!
All levels Have been marked, Follow me for more!
I hope you can now see how the SRTANSFIN represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...
Marico is showing head and shoulder bottom. A very good signal to buy above the nearest resistance.
Buy above 331 and target 8%.
Stoploss at- 320
I will appreciate if you will let me know your thoughts in comments below
Sustained above 237 will lead the price to reach the target of 241/245/249/ trail sl sl 229.3
Sell below 219 if sustained then 214/212/206 is the target with trail sl of 229.3
**Educational purpose only
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As i am watching Airtel very keenly, airtel looks very delicious to me for levels of 700 can also be attained here. But initially 591 targets are very likely to hold. Buy anywhere with sl 523 and targets as shown. But gap filling on down levels made it fall.