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Neo Wave

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 Neowave-forecast
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
CNX AUTO: Neo wave countseems like CNX AUTO is making triple correction WXYXZ from covid low's. Triple Correction form: wave W =Diametric wave Y =Zigzag wave Z =Flat Current count: Right now as per this labeling we are wave Z(third correction) of which wave A is done and wave has taken a form of diametric correction.With in this wave B diametric we are in wave G meaning wave C is yet to be formed,considering wave Z as a flat correction we will be seeing an impulse or terminal impulse formation in coming days once prices breaks 10470 on the upside in tomorrow's trading session which would mark the end of wave G and start of wave C of higher degree.If we fail to surpass 10470 in tomorrow's trading session then it wud mean wave G is still in action and price can again re-test previous swing low of 9720.Bear in mind we are yet to have wave C on the upside,hence until we dont see faster retracement in price to prior swing low's(9720), any fall near to 9720 is buying opportunity provided other trade setup criteria of reversal candle and follow through in next session along with momentum divergence is seen. 1:1 extention target for wave C is coming @ 11000.
NSE:CNXAUTO
by UNDERDOG-29
Trading Neo wave Bow-Tie diametric patternThis is an extention of WXY elliot wave pattern.This pattern has seven leg's just like WXY double corrective pattern.Here we see contraction in first 3 leg's high's and low's followed by smaller wave d bith in terms of price and time followed by expansion in last 3 legs. Each leg is internally divided in 3 sub wave giving entire pattern internal structure of 3-3-3-3-3-3-3. Guide-lines for target of each leg wave a = wave g(generally 61.8%) wave b = wave f(generally 80-100%) wave c = wave e(generally 80-100%) It seems like we are making Bow-Tie diametric pattern on bank nifty hourly chart of which leg a,b,c,d,e is done and leg f is going on and approaching it's price target(around 36650-660) from there we can expect leg g taking prices between 37730-38400(61.8%-100%)projection of leg a price move from leg f low's. Trade set-up If we get momentum divergence and bullish reversal candle followed by price taking out it's high along with Ichimoku cloud support on 15 min chart around 33650 levels(leg f tgt zone) then one can look to go long with a stop loss of leg f's low. Trade should only be taken if trade setup criteria's are observed.Size your trade by following risk management rule of not lossing 1% of your capital on any trade
NSE:BANKNIFTYEducation
by UNDERDOG-29
6
Identifying & eliminating type of correction through Neo wave L&T: Have tried labelling from covid low's. *Logic behind labelling price as corrective structure: From covid low's no swing has internal structure of an impulse, every swing is divided in 3 sub-waves meaning rise in L&T was corrective.Also no impulse rules were followed to make an impulse pattern ofhigher degree. *Eliminating corrective pattern: From covid low's we already have 5 waves(marked in green) having 3 internal sub-waves meaning we are in a middle of a triangle or complex wxyxz correction or diametric pattern,but looking at the price pattern it seems like we are having wxyxz triple correction as prices are neither converging nor expanding in order to make triangle or an diametric pattern.Hence i have labelled it as WXYXZ of which w,x,y,x is done and currently we are in wave z. *Current structure & internal stage Now this wave Z is sub-divided in lower degree 3 internal wave WXY(in orange) of which wave W and wave X is done.we are right now in wave Y of which wave A is done and wave B will be done shortly post which a rise in the form of wave C would complete entire WXYXZ 11 swing correction. *Price Fore-cast on the basis of current labelling from current levels. On the upside important level is 1740(123.6% extention of wave w in orange degree from wave x low's) and 1834(161.8% extention of wave w in orange degree from wave x low's) where entire pattern can end. On the down side 1550-1580 zone can act as good support as we have a price action area in that zone. *Conclusion As per this labeling up side room is limited hence anyone holding this stock should keep stop-loss depending upon there risk appetite or by referring price levels mentioned above and new long's should be avoided from swing trading point of view
NSE:LTEducation
by UNDERDOG-29
How to Eliminate elliot corrective patterns through Neo wave I can only come up with this following count,in order to come up with a logical count,i kept on taking more data in order to make some sense with my labeling. Reason for considering current rise a part of Bow-Tie Diametric Pattern are as follows Starting point was taken on the basis of faster retracement of prior swing high ,since then price has not shown any sign of an impulse as theres so much of overlapping seen in price along with corrective internal structure in each swing. As far as corrective pattern is concerned only WXY and Diametric pattern has 7 leg,but if we connect trenline of tops with tops and bottom with bottom in white degree then the pattern takes shape of an bow-tie diametric where higher degree A terminates,movement following is also corrective and not impulsive hence collectively on higher degree(marking done in red)is also forming some kind of corrective pattern. Till now we have already seen 4 swing and currently we are in 5th swing meaning we can count out Flat and Zigzag leaving us with triangle and diametric and complex wxy/xz.With regards to triangles either they are contracting or expanding in 5 leg's but over here we have seen both the phenomenon occuring by the time we are in 5th leg meaning we can even eliminate triangle pattern leaving us with only 2 pattern either a Diametric or an WXY/XZ complex correction. From this we can conclude that on going rise will have 7 corrective leg's of which 4 are done and currently 5th is going on,as we have already seen contraction and expansion my primary assumption is of Bow-Tie Diametric even on Red degree and have used rule of equality for finding termination point of 5th,6th and 7th leg. PS:Correct me if i have missed anything because by now i am already brain dead after analyzing this chart
NSE:BHARTIARTLEducation
by UNDERDOG-29
6
impulse wave count logic of NEO waveReason for starting wave count from the point shown here is,in the past price movement(from covid low's) no prior swing high is retraced faster then the fall from that high took to form. Rules and Reason for impulse count 1)wave 2 should take more time then wave 1 to form,here this rule is followed 2)0-2 trend line should not be touched by wave 1 price movement,here this rule is followed 3)wave 3 should not be shortest,here this rule is followed 4)One of the 1,3 or 5 should be extended,here wave 3 has extended by atleast 161.8% of wave 1 in both the degree's,here this rule is followed 5)wave 4 should not enter wave 2 price zone,here this rule is followed in intermediate counts. 6)wave 4 should take more time then wave 2,here this rule is followed in intermediate count. 7)Atleast one alteration should be there between wave 2 and wave 4,here this rule is followed as Alteration is seen between primary 2 and 4 in terms of pattern, price and time. 8)0-2 channel should not have more then 4 touch-point,here this rule is followed after which it was breached. seems like sail has completed primary impulse wave 3 whose intermediate 5 was truncated and currently forming an complex correction(wxy) or a triangle pattern which was triggered after 2 stage confirmation on the breach 0-2 trend-line and intermediate wave 4 lows in lesser time then intermediate 5 took to form.As of now it seems like wave w or wave A in the form of regular flat has been done and currently wave x or wave B is in the making.On the downside wave 4 retraces generally 38.2 % wave 3 which is coming @ 115 which was achieved by price in current fall,but since then bounce has not been sharp or impulsive in nature indicating wave x or wave B is in making.As per the rule wave 4 is longer then wave 3 and primary wave 3 took 88 candles to complete hence going by that logic current fall or side ways movement can atleast continue till 20th december post which 31 days cycle low is expected @ 29th december. On the downside support is coming at following levels Primary wave 3 38.22% retracement @ 115.40 Primary wave 3 50.00% retracement @ 106.20 Primary wave 3 61.80% retracement @ 97.00 Invalidation of this count is @ 81 level where if price goes then wave 4 will be entering wave 2 territory. Upside seems limited as of now but accumulation can be done if price comes @ above mentioned levels for investment purpose as on the basis of this count,as wave 5 is yet to unfold and in commodities wave 5 is assumed to be longest of 1,3,5. will it make a wxy or a triangle only time will tell but short term trader should not look for bigger up side move looking at the current price structure until december 20th,2021. This labelling is done by following NEO wave rules,in the past i have posted wave counts on sail through elliot wave rules.Rules of impulse labelling are different in both theories and hence the counts are also different.Neo wave also in-corporates time element in labelling waves which helps in timing entries and exits. Here i have also incorporated time cycle.In the shown chart 31-day cycle is working quite well since covid low's(I cant show entire chart from covid low's as it wud very untidy) which help's in identifying important low points,meaning around cycle end day's important low is supposed to be formed. Let me know if you find this post informative and if i have missed any rules while labelling.
NSE:SAILEducation
by UNDERDOG-29
8
START OF NEW NEO IMPULSE WAVE.GET LONGPRICE BREAKOUT IN TODAYS TRADING SESSION @ 916 ALSO PRICE HAS MULTIPLE SUPPORT AROUND 900-905 AREA TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG @ CMP OF 931 AND ADD IF PRICE COMES @ 916 STOP LOSS OF 904 ON CLOSING BASIS TARGET 1050. TIME FRAME-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:HCLTECHLong
by UNDERDOG-29
TRIANGLE PATTERN BREAKOUT.START OF NEW NEO IMPULSE.GET LONGPRICE GAVE TRIANGLE PATTERN BREAKOUT IN TODAYS TRADING SESSION @ 1182 TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG @ CMP OF 1194 AND ADD IF PRICE COMES @ 1182 STOP LOSS OF 1150 ON CLOSING BASIS TARGET 1380. TIME FRAME-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
PLong
by UNDERDOG-29
DOUBLE BOTTOM BREAKOUT.START OF NEW NEO IMPULSE.GET LONG PRICE GAVE DOUBLE BOTTOM IN TODAYS TRADING SESSION @ 2951 TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG @ CMP OF 2964 AND ADD IF PRICE COMES @ 2951 STOP LOSS OF 2730 ON CLOSING BASIS TARGET 3220. TIME FRAME-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:JUBLFOODLong
by UNDERDOG-29
HIGHER HIGH HIGHER LOW.START OF NEW NEO IMPULSE.GET LONGPRICE IS MAKING HIGHER HIGH AND HIGHER LOWS AND GAVE BREAKOUT IN TODAYS TRADING SESSION @ 969 TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG @ CMP OF 986.60 AND ADD IF PRICE COMES @ 969 STOP LOSS OF 940 ON CLOSING BASIS TARGET 1150. TIME FRAME-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:AUBANKLong
by UNDERDOG-29
DOUBLE BOTTOM BREAKOUT.START OF NOE IMPULSE.GET LONGPRICE GAVE TRENDLINE BREAKOUT BEFORE 2 DAYS AND TODAY IT CONFIRMED DOUBLE BOTTOM GIVING BREAKOUT @ 89.10 TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG @ CMP OF 89.45 STOP LOSS OF 85 ON CLOSING BASIS TARGET 99. TIME FRAME-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:LTFLong
by UNDERDOG-29
1
START OF NEW NEO IMPULSE.GET LONG ABOVE 1183COMPANY POSTED GOOD QUARTERLY RESULTS IF PRICE BREAKS OUT IN TODAYS TRADING SESSION ABOVE 1183 THAN IT CONFIRM HIGHER HIGH AND HIGHER LOW PATTERN. SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG ABOVE 1183 STOP LOSS OF 1140 ON CLOSING BASIS TARGET 1280-1300. TIME FRAME-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:ESCORTSLong
by UNDERDOG-29
1
DOUBLE BOTTOM IN MAKING.IF PRICE GAVE BREAKOUT IN TODAYS TRADING SESSION ABOVE 3665 THAN IT WILL CONFIRM DOUBLE BOTTOM PATTERN SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE. EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE. LONG ABOVE 3665 STOP LOSS OF 3580 ON CLOSING BASIS TARGET 4000-4400. TIME FRAME-1-2 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
LLong
by UNDERDOG-29