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Neo Wave

Nifty:possible Neo wave scenario's for short term moves.Letter in green:highest degree Letter in yellow:lower degree then in green Letter in white:lower degree then in yellow Letter in blue:lower degree then in white. !st scenario:Neutral triangle As per neutral triangle wave B(yellow),we are in wave c(green),sub-wave b(yellow),sub-wave e(white),sub-wave g(blue). Minimum target for wave g in blue is coming at 17300,which is not far from current levels hence long's should be protected with stop-losses as post wave g(green) we can see wave c(yellow) unfolding on the down side taking price to 16400-16200 levels.One should look for following things to enter on the short side 1)Price rejection near upper channel line 2)reversal candle near upper channel line 3)price breaking reversal candle low's and 9 day ema in the following candle 4)Overbought momentum indicator readings. Stop-loss can be highest pivot high that is ragistered once above criteria are matched. Disclaimer:This are my personal views on index and no position should be build or exited on its basis.I am posting this just for my future reference.
NSE:NIFTYShort
by UNDERDOG-29
7
Bajaj Finance Neo wave countswe might be ending wave D of neutral triangle in bajaj finance as it seems like wave d took form of a regular flat and target of 100% extention of sub-wave A for sub-wave C is coming at 6457.We also have channel support near those levels along with wave B price action zone starting at 6477 and price touching 6477 level would ful-fill wave D criteria of Neutral triangle. I am not including momentum indicator as it wud be oversold only.Although shown trendline is not B-D trendline but can be considered as significant trend line as we had 4 touch points and going ahead we can see it providing rasistance for wave E bounce. As of now if we get reversal candle followed by a close above reversal candle's high then we can go long for wave E bounce with the reversal candle low as our stop-loss and expect 5-6% of move on the upside unfolding in the form of wave E. Analysis provided here doesnt state that one should go long straight away rather one should wait for price action to confirm end of wave D. I will update this idea once we get trade setup for long trade. Disclamer:This are just my views and i am publishing this for my future reference.
NSE:BAJFINANCE
by UNDERDOG-29
5
Bajaj Finance Neo wave countPost covid we are seeing Bajaj Finance going up forming double correction WXY on primary degree.Currently we are done with wave W(Zigzag correction) followed by wave X(A expanded flat) and right now we are in the making of neutral triangle pattern of which wave A,B,C are done wave D is going on which can take prices to 6350 levels,post which we can see bounce in the form wave E which would be last leg of second correction wave Y on primary degree.This second correction has taken a form of neutral triangle in which wave C is longest wave and wave D enter's wave B's territory there by making head & shoulder top pattern. Long trades should be closed and one can even go short at cmp of 6807 with a closing stop-loss of 7050(today's high)on closing basis for a target of 6350 on the down side. PS:If we get bounce from 6350 levels and considering wave E not registering new high (as per neutral triangle pattern rule),we would be making inverse cup and handle pattern,neckline level for which would be wave E low(most probably 6350) giving us ultimate target of 4646. Disclaimer:This are just my views no positions should be build or exited on it's basis,i am posting this analysis just for my future reference.
NSE:BAJFINANCEShort
by UNDERDOG-29
30
Tata Motors:End of an ImpulseAfter giving fake breakout we have seen price has reversed sharply there by breaking prior swing low in lesser time then prior swing high took to form giving us a double confirmation of trendline breach along with faster retracement.Meaning a significant top has been formed in the stock for atleast next 6 months and It seems like tata motors has ended it's 5 wave impulsive move on the upside on primary degree, when it closed below 485 on 26-11-2021,meaning current correction can take prices to primary wave 4 low's coming at 288-290 levels.Any one entering stock around wave 4 bottom and carrying In the money Long position should protect there profit by keeping a stop-loss as per there risk apetite.Ideally one should exit longs at current levels itself but still for someone with higher risk apetite 435 can be a good level that can act as support and should be kept as stop-loss. Now going ahead on hourly chart it seems like it is making diametric corrective pattern which can take prices between 406-380 levels.Following this we will have upmove in the form of wave X,once wave X is done we can expect another correction unfolding taking prices to sub 300 levels,but as of now 406-380 is price target for the on going correction.As of now it seems like we are done with wave A,B,C and D and currently wave E is going on.One can initiate short trade @ cmp of 458 with a stop of wave D high @ 478 for a target of 418 on the downside. Stop-loss should be trailed everyday to previous day's high on closing basis once trade is in the money from cmp. Disclaimer:This analysis should not be used for creating or exiting new or old position respectively,i am publishing this just for my future reference.
NSE:TATAMOTORSShort
by UNDERDOG-29
18
BANK NIFTY: WXYXZ Triple correction nearing end.As labelled letters in red represents highest degree and that in white represents one degree lower then that discribed in red. So far we have seen bank nifty rising in corrective manner as per Neo wave rules since covid low's in the form of WXYXZ triple correction.we have already seen wave W,X,Y,X and it seems like wave Z might be completing soon if we break 35000 on weekly closing basis with in next couple of weeks(ie by 13-12-2021). Notice the angle of advancing trend in each corrective rise,typically momentum fall's significantly in wave Z and over here we can see this thing happening. This would mean that we might see impulsive fall unfolding on the down side which can retrace entire rise from covid low's by atleast 50% which is coming @ 28970. Personally i feel that we might have already ended wave Z at 41800,as sub-wave B(in white) of wave Z has taken more time then wave A(in white)meaning we can rule out the possibility of correction being a triangle or daimetric pattern.Also 0-B trendline of wave Z has been already breached,hence 35000 from here remains crucial level for getting final confirmation of WXYXZ completion. For entry an exit i am attaching separate chart on daily time frame.
NSE:BANKNIFTYShort
by UNDERDOG-29
1
PEL: H&S top along with impulse ending.Go shortPEL has been moving in an impulsive way Feb 2021,and has completed 5 wave upside impulsive move.Here we are seeing wave 2 not retracing not more then 61% of wave 1, wave 3 extending wave 1 by 161% wave 1,wave 4 not entering wave 2 zone.This are classic elliot wave rules.wave 5 has taken a form of ending diagonal,there by forming neutral triangle pattern,meaning each 5 leg are sub divided in 3 subwave.On 10-11-2021 we saw wave 5 getting completed,confirmation of which we got on 22-11-2021,when prices retraced entire wave 5 in lesser time then it took to form.During this process of wave 5 formation we have clear H&S top pattern formation with a neckline coming between 2470-2500 zone.On friday we saw a breakdown of this neckline giving us a pattern target of 2070 on the down side. It seems like Current fall has taken a form of diametric pattern meaning this entire fall will have 7 leg's,of which 2 leg's are done and currently we are in 3rd leg. Possible scenario for taking trade 1)If market open's at the friday's closing level's, Aggressive trader can take short trade at cmp of 2470 with a stop-loss of 2635 on the upside. 2)If market open's with gap up then one should look for reversal candle or price rejection between 2500-2530 zone for taking short trade. Going ahead stop-loss should be trailed to daily high's once price start's going down. 3)If it gives gap down then dont take trade unless we get pull back. Risk reward is 1:2,meaning stop-loss is about 180 rs and target is 400 rs from 2470-2500 entry zone. Disclaimer:This are my personal view on the stock,analysis done here is only for my future reference,no trade should be build or exited on it's basis.
NSE:PELShort
by UNDERDOG-29
CNX FINANCE:BOW-TIE DIAMMETRICCNX finance is in the middle of making 7 leg bow-tie diametric Neo wave corrective pattern. This pattern has 7 leg each having corrective characteristics.In this pattern we see price contraction in first three legs followed price expansion in last three legs.So far we are done with wave A,B,C,D.wave E is going on potential target of which is coming at 17250.Once we get to this level we can bounce in form wave F till 17950 post which we can again witness selling in form of wave G. On the basis of this view remains sell on rise at the mentioned level.Sell trade should be taken once we reversal candle from around mentioned level and in the next candle we get a close below reversal candle,keeping reversal candle high as selling stop-loss.One can even take long trade with the same logic for entry and stop-loss post wave E is done for wave F rise, but ideally long trade should be avoided as view is bearish and also momentum is on the sell side. In this pattern following rules are mentioned for target calculation. A=G(but can even complete @ 61.8% of wave A) B=F C=E Once this seven leg's are done we can see bounce in the form of wave X/A of new corrective pattern. Disclaimer:This are my views no trade should be exited or build on it's basis.i am posting this analysis for my future reference.
NSE:CNXFINANCEShort
by UNDERDOG-29
Happiest Mind Neo wave countsHAPPIEST MIND NEO WAVE COUNTS. Seems like primary 4 is about to end as minimum time required for wave 4 formation is done in today's trading session,also yesterday it had an strong bullish candle of which we are getting follow through in today's trading session. Now long entry should only be made once trend line is breached and price stays above 25 ema for 2 days,also by 11-11-2021, 31 period cycle low's are due,hence keep an eye on this stock for capturing upside movement in the form of wave 5 till 2000 levels. Long entry should be made above 1365, On Downside 1200 should be kept as initial stop-loss which should be trailed as prices advance in upward direction with a target of 1900-2000 levels. Long entry logic 1)Starting of primary wave 5 2)stock crossing important price action zone of 1355-1365 3)Bullish reversal candle near channel support line 4)Down slopping Trend line breach. 5)Price crossing 25 ema. 6)31 day cycle low nearing DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis
NSE:HAPPSTMNDSLong
by UNDERDOG-29
8
CNX AUTO-End of Triple correction WXYXZTime to be cautious on AUTO sector,we have seen a significant corrective rise since covid low's on CNX AUTO INDEX in the form of triple correction WXYXZ,with wave W taking a form of bow-tie diametric pattern,wave Y being a zigzag, and wave Z being a flat correction.Post this we can see impulsive move unfolding on the downside retracing entire WXYXZ pattern by 50%(8325) Look at the angle of ascent,it keeps decreasing with each correction being unfolded on the up side meaning momentum is fading with each higher high's. Long position should be protected with a closing stop of 11000 on CNX AUTO index as move below 11000 would confirm the completion of the pattern.Hence short selling can be done on the breach of 11000 with a stop of 12000 and target of 8325. Individual stock's in AUTO sector should be studied separately but analysis should be correlated with CNX AUTO charts in order to get confirmation. Disclaimer:This analysis is for my future reference no position should be build or exited solely on it's basis.
NSE:CNXAUTOShort
by UNDERDOG-29
How to count Neo wave Impulse Current wave counts Primary-wave 2 (orange) Intermediate-wave A (Blue) Minot-wave B (Red) Minute-wave C (Yellow) Applied Neo wave Impulse Rules: 1)Counting started from faster retraced low 2)wave 2 should not retrace wave 1 by more then 61.8% 3)wave 2 should be equal or longer then wave 1 in terms of time 4)0-2 TL should be clean and price action of 1 should not touch 0-2 TL 5)wave 3 should not be shortest 6)wave 4 should not enter wave 2 zone 7)2-4 channel should not have more then 4 touch point,here on 5th instance channel was broken 8)wave 4 should be longer then wave 3 in terms of time 9)Atleast 1 Alternation between intermediate wave 2 and 4 should be there,here alternation is observed in terms of retracement,pattern complexity,time and price 10)Every new motive wave had 2 stage confirmation. Analysis Looks like Tata steel is certainly not in buying zone,as it has completed intermediate impulse cycle and it has broken minute 2-4 TL,minor 2-4 TL(not shown in the charts),minute 4 low's in lesser time then minute 5 took to form and 21 day simple moving average. A decisive close below 1400 can trigger fresh selling till 1240-1250 where previous price action zone comes along with 23.6% retracement of entire intermediate cycle from 365-1535.Hence short selling can be done if price goes below 1410 with a stop loss of 1460 on the upside and target of 1250 and 1140. Continuing to this logic meanwhile during this fall if price's comes to 1250 level then it will be breaking intermediate 2-4 TL in lesser time then intermediate 5 took to form hence it can be assumed that intermediate top has been formed and going ahead price can even touch 1140 minor 4 lows and 709 intermediate 4 lows(I know it sounds ridiculous at this point) but i am mentioning this becoz it seems like we have completed intermediate impulse cycle. As of now metals stocks are not participating in the on going rally so keep your exposure limited as in case of any major selling portfolio returns would be severely impacted if metals occupies major chunk of your portfolio.One can even start hedging by selling in the money call or of tata steel keeping mentioned spot price as stop-loss.Further Indicator's and Candle stick patterns can be used for efficient entry and exits. PS: Interesting observation skip if you are already boared 1)As per the rules 5th(minute) extention of 5th(Minor) extention of 5th(Intermediate) wave cannot take corrective form unless 1st of highest degree 5th is sub-divided in 3.This is seen in this case.It was confusing me at first that Minor 5th is making terminal impulse by looking at the overall shape i got by connecting TL's but as Minor 1st of Intermediate 5 is not sub-divided in 3 this possiblity can be ruled out,also here Minute 4 has not entered Minute 2 pricezone which confirms termination of Minute,Minor and Intermediate 5th wave @ the shown place as per my view. 2)Both variation of Neo wave pattern Diametric pattern is seen, Diamond Diametric-Intermediate wave 4 Bow-Tie Diametric-Minor wave 4 3)As mentioned by many Author's of wave theory and as noted historically wave 5 in commodities are longest.Here wave 5 is longest in terms of both price and time . I have tried showing everything that i have charted hope-fully anyone reading this finds this post logical just like me
NSE:TATASTEELEducation
by UNDERDOG-29
72
GNA AXELS : Wave counts + Time cycleIn this post i have tried analyzing chart by combining both price/volumes and time factor simultaneously. For deciding trend and predicting price i have used Elliot wave theory and for timing and entry/exit i have used cycle theory. Elliot wave theory Impulse wave rule: 1)Wave 2 can't retrace wave 1 entirely 2)Wave 3 can't be shortest of wave 1,3 and 5 3)Wave 4 can't enter wave 1 price action zone. Time rules of Neo wave (Extention of Elliot wave) 1)Wave 2 takes equal or more time then wave 1 took to form 2)Wave 4 takes equal or more time then wave 3 took to form Wave labeling is done by following this rules. Wave Count Primary : Wave 4(Green) Intermediate : Wave A(White) Minor : Wave C(Orange) not shown. Analysis: As far as wave count's are concerned, since covid low's we are seeing impulsive rise in which we have completed wave 3 on Primary degree(green) and currently we are in Primary wave 4,Intermediate wave A, and going ahead prices will continue to correct or stay side-ways until Primary wave 4 is done,as wave 3 was extremely extended possibility of Primary wave 4 being an running flat is low meaning any forth coming bounce will not give us new high. Time wise :As per Neo wave rule 1) Primary wave 4 can continue till December 2022 hence entering at current levels is not advisable. Price wise :Support areas for Primary wave 4 to end. 1)We have 50 % retracement of Primary wave 3 coming at 641 along with minor wave 4 low's at 655 along with 200 ema average @ 620 which would keep increasing,there by making price action support zone of 640-660. 2)61.8% retracement of Primary wave 3 @ 530 and previous All Time High coming at 555 level(Confluence for price support) along with running intermediate trendline(white) making price action support Zone of 530-555. 3)Theoratically Primary wave 4 end's near Intermediate wave 4 of extended Primary wave 3 which is coming at 360 levels,we also have 80% retracement of Primary wave 3 coming at 360 level(Confluence for price support). JM Hurst Cycle theory: It states that stock prices follows definite cycle and achieve significant lows or trough's at the end(beginning) of each cycle.During any cycle price makes meaning low's around every cycle period time zone.Post a cycle low zone, prices reverses or trend changes,and if the low's made during cycle period time zone get's broken in the next cycle then during that entire cycle prices tend to correct.After his years of observation JM Hurst has found Nominal Cycle model which describes standard cycle's found in the markets he researched.One of the cycle he mentioned in Nominal model is of 20 weeks(which is being followed over here).There are many principles of cycle theory which i am not describing over here as it would complicate things. Time Cycle: 22 week Since beginning GNA AXLES seems to be following 22 weeks cycle meaning after every 22 weeks meaning full low is formed,post which we have seen prices going up and it this low is broken in the next cycle then during that entire cycle prices has corrected.Over here i have somewhere i have taken 23 weeks and somewhere 24 weeks just to capture exact low's however it can be seen that most of the time prices has formed low on 22nd week indicating stock is following 22 week cycle.As of now we are nearing cycle low time zone(week ending on 6th December)meaning after first or second week of December we can see minor bounce in the prices as per time cycle. Combining Volumes: Volumes were rising during this entire rise from covid low's during every impuslive wave high formation ie from Intermediate 1 of Primary 3 till Minor 3 of Intermediate 5 of Primary 3,and we can clearly see volume divergence on minor 5 high as it was achieved on an significantly low volume compare to minor 3 high. Conclusion: Price and time are not in favour of bulls hence investor or trader should keep stop-loss on there existing long positions depending upon there risk appetite and fresh long's should be avoided until Primary wave 4 is done.Any bounce from current price should be used to exit long positions. Disclaimer:The analysis done in this post is just for education purpose and to introduce concept of time cycle,no position should be build or exited solely on it's basis.
NSE:GNAEducation
by UNDERDOG-29
1
Nifty 50 Neowave ForecastNSE:NIFTY Hi Traders Today we are going to discuss Nifty 50 Index. So lets see whats been happening here. After Making an high of 18600 we are falling. We made a low of 17600 which i called (A) point and after that we rise and make a (B) Point. So as you all you can see this three wave corrective structure higher possiblity going towards 17400. Now longer term trend is still up. So Below around 17000 there is an support trend line. Higher possiblity of returning from there. So its all depend on how much (C) point will fall. So this is the best possible scenerio. Thank You Wave Forecast
NSE:NIFTYShort
by IIntelligentinvestor
Hindalco-Neo wave count Current pattern: WXY double correction Both correction have taken Bow-Tie diametric form(7 leg pattern,Expansion in first 3 leg and compression in last 3 leg). Right now it seems like second correction is done and current fall can be wave X or wave 1(star of new impulse on the downside) Shown horizontal dashed lines are retracement(23,38,50,62) levels of second correction. Notice through out this up move price has taken support of lower channel which it seems like will be broken in current fall.If price goes below 475 and gives closing below it in next 2 day's it will give 2 stage confirmation of TL breach and faster retracement of previous swing meaning bigger move on the downside can come in near future. Personally i feel metals are way to over stretched on the upside and it's time for them to move down.I have posted charts of Sail and have shared link of my analysis on tata steel on this platform and both charts are showing sign of weakness. Hindalco being an aluminium and copper producing company has shown divergence from steel producing stock in metal sector up until now,but since last three days it has aligned itself with the broader markets and on the charts it seems like completion of double correction as well. We can also see that price is following 18-days cycle and price has reversed around cycle low zone on 11-12 occasion.And the next cycle low period is coming on 27-10-21,hence bounce can be seen in price around that day and one should look to exit longs or build short position around that time. Trade setup criteria 1)Prices needs to close below 475 in next 2 day's. 2)If 1st criteria is meet,then one should look to short the stock on bounce till 495-500(broken channel then act as Resistance). 3)If We should get a reversal candle in the form of shooting star,bearish pearcing,bearish engulfing around channel levels then one can initiate short trade on the next day when the low's of the reversal candle get's taken out. stop-loss would be 530 on the upside and expected targets would be 475-425-389-360 on the downside.Time frame for this trade would be minimum 1 month. DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis
NSE:HINDALCOShort
by UNDERDOG-29
8
Bow-Tie diametric correctionPattern details: 1)It's a 7 leg corrective pattern 2)Here in first 3 leg's price's contracts after which wave d is formed (sort of wave x of wxy) which is followed by 3 expanding leg's,meaning contracting triangle connected by expanding triangle 3)Wave G tends towards equality wave A,wave F towards wave B,wave C towards wave E,however wave G can only be 38.2-50% of wave A on many occassion. A decisive close above 54.30 would indicate end of wave f .wave g tgt is coming around 78 which is about 40% move.Long entry setup build's on close above 54.30 which would be second confirmation of clearing previous peak.As of now in today's trading session TL has already been breached indicating sign of strength.Also each down swing has taken identical time after which it has reversed,meaning current down swing is nearing end.On the down side lowest low can be kept as protective stop once entry criteria is meet. Disclaimer:Analysis shown here is only for educational purpose trade should not be taken on the basis of this post.
NSE:TAKEEducation
by UNDERDOG-29
4
bajaj finance complex correction wave countlooks like double correction to me Primary degree: Red Intermediate degree: Black Minor degree: Blue. Current Count: Primary: wave Y Intermediate: wave C Minot: wave wave 3 complex correction's are identified by price movement confined in channel.Here we can see this phenomenon happening.wave Y has taken a form of an zigzag corrective pattern of which wave A and B is done and wave C is under progress.As the internal structure of zigzag is 5-3-5 we are right now in wave C sub-wave 3.Here wave C as per my understanding has taken a form of terminal impulse meaning wave 4 decline will be sharp and enter will enter wave 2 zone giving us minimum target for wave 4 till 6477(highest point of wave 2). Currently wave 3 is in progress and before 2 day's we had spinning top kind of candle formation which was followed by a close below it's low in yesterday's trading session meaning we have already got one trend reversal signal hence if in coming 2 days price breaks important TL along with 7320 level then we can assume that wave 3 is done and wave 4 has commenced. Don't short until then.On the upside if the price crosses 8000 in tomorrow's trading session then we can assume wave 3 is still in progress and in that case we can expect price to move in upper channel rasistance zone. Conclusion: 1)Fresh long only above 8000 with a stop of friday's low 7725. 2)For swing trader who is already long, trade's should be monitored carefully and stop-loss of 7320(previous swing low) should be maintained 3)Fresh short only advisable on faster retracement below 7320 in coming 2 days.
NSE:BAJFINANCEEducation
by UNDERDOG-29
1
mcxsilvdex wave counts. Degrees Primary : White Intermediate : Yellow Minor : Blue Current Structure in Primary degree : 3-3-5 Flat Current Structure in Intermediate degree : 3-3-3-3-3 Terminal Impulse Current Count:Primary B,Intermediate C,Minor 5 On the basis of price movement It seems like we are making a Flat corrective pattern 3-3-5 in primary degree of which wave A and wave B is done and going ahead we can see an impulsive move of wave C in primary degree taking prices to primary wave A high's and even beyond. Currently we are in Primary wave B,Intermediate wave C,Minor wave 5.In regular Flat's generally wave B travel's 80% of wave A(I have shown 61.8 and 78%) retarcement of wave A over here as i am expecting this to be a regular flat correction.Hence if we see price falling in the wave B tgt zone and we see a reversal candle with a follow through coupled with momentum divergence then one can go long with reversal candle low's as stop-loss. As the coming move will be impulse movement would be sharp as per my view.So keep an close eye on prices and try to find a trade setup in wave B price target zone
MCX:MCXSILVDEX
by UNDERDOG-29