Often Misunderstood concept of Elliot Waves is its usage as a be all and end of technical analysis.
Simply put Elliot is not a predictive tool but is the "THEORY" of way the market moves, hence relying on it solely to predict future movement is problematic and the counts change all the time and in "RETROSPECT"
Am sure those fanboys may not agree with me but all...
Key Levels for STOCK are : t.me - JOIN TELEGRAM CHANNEL
Please trade with caution and consult your financial adviser before trading. You can also join...
How to trade double bottom,
These are my rules
1) Draw a HORIZONTAL BLUE LINE on the key support area on daily chart which has been tested at-least 3 times in the past
2) You have to make sure rsi is @ 30 or below 30 indicating over sold market on daily chart
3) Candle stick pattern in four hour chart- either a bullish hammer (inverted hammer) or a bullish...
Auto Industry, depicting robust fractals (part 1)
Not long ago, auto industry and its ancillary companies were hitting all-time highs. But lately the mood has been somber. Motherson Sumi is down 40% from its 13 month high (or rather all time highs), whereas Maruti is down more than 25%. So is it the right time to buy?
What caused such change in fortunes? Can...