IGL has constructed a falling wedge on the 1-day chart in which it has made continuous lower lows and lower highs. The trend can change from bearish to bullish after the breakout of the resistance trendline. Buyers can expect a bullish move with the following targets: 483 & 504 . IGL Is Bearish below 458 . Buyers have to break and stay above 504 to increase...
Timeframe: Daily 3M India has given a good move after 100% extension of wave A. Note wave A = B is at 21368.9 . Price entered into the corrective channel, which signals an impending bullish move. 22292 is a pivot level for 3MINDIA. Wave C is the ending point of the correction, and traders can trade for the following targets: 22564 – 22850 – 23282 . There...
Price has been trading in the long-term channels for more than 16 months. After making a low of 785 , prices started rising to the upper band of the parallel channel. Currently, prices are trading above 100 EMA . PEL has formed a value area with a cup and handle pattern. The neckline of the cup and handle pattern is also the upper band of the value area at 915 .
TF - Monthly - Aditya Birla capital had broken out descending trendline at 80 . But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top). AB CAPITAL has made a monthly consolidation range of 139 - 95 As per the monthly chart, AB CAPITAL can take support from 78.05 . Three reasons to consider this level:...
BEL has completed impulsive wave 5 at 258 and started declining for corrective formation. BEL has completed corrective wave 5 of C of B at 250 . Now, BEL is forming lower degree's waves of wave C. If it sustains below 245 , BEL can fall for following support levels: 235 - 224 - 215. Wave C can complete near 100 of wave A at 215 . It is called A=B . I...
Timeframe: Daily NSE EICHER motors have accomplished the corrective wave (4) and started forming impulsive waves (5). The price is currently forming sub-waves of the impulsive waves (5). Wave (2) was a sharp zigzag, so wave (4) formed the choppy structure triangle. Since wave (3) was an extensive wave, we cannot expect wave (5) to extend with a high...
According to EWT: 5th wave has already traveled for more than 2.618% reverse Fibonacci retracement of wave 4. Now, bullish momentum can push it up to 136 at 3.618% .
Key Level: 824 & 853 Adani Port has broken down the corrective wave X and started forming an impulse wave ((5)). Price had broken down the 8-month-old correction, and Adani Port surged rapidly. Adani Port can u-turn from 1.618% at 1049 . It is a reverse Fibonacci of wave ((4)). Currently, the price is at the 78.6 % reverse Fibonacci level at 853. If Adani...
Bajaj Finserv has started it's final bearish, where we have seen a speculative boom downside. After breaking 50 & 200 EMAs , it started falling for wave Z . Traders can expect the following targets: 14631 - 14449 - 14176 . The Control line will work as a hurdle for intraday traders. Bajaj Finserv has formed in the descending channel for more than 27 weeks...
After making a high of 17480, Bajaj Finserv has started falling. Today, It has made a low of 14660 . In 15 min timeframe, we can see a bearish butterfly pattern, which indicates a bearish trading setup for intraday traders. Bajaj Finserv has completed its D point at 15250 . If the price sustains below 15250 , traders can expect the following targets: 15080...
Key levels: 36496 - 37060 Bank Nifty was following the uptrend channel from Dec 2020, and it had broke on 02 March '22. There's a new parallel channel unfolded. In the last trading session, Banknifty has created a shooting star pattern. And this pattern is a single line pattern that indicates an end to the uptrend. At the same time, it is close to a parallel...
NSE KoltePatil stock overwhelmed today, and it hiked +34.10 ( +12.30% ). Technically, the A B C correction of the Elliott Wave is over. We can expect impulsive moves ahead. Today's volume spike and breakout of EMA 100 indicate bulls are stepping in. The uptrend can extend up to 322 - 340 - 350+ target price for intraday traders. Further information I...
Dr. Reddys Labs Fut closed at a crucial level. It has to take a U-Turn from the current closing price. Otherwise, speculators will keep selling. And according to TA, we will see the target of 3780 - 3720 levels soon.
Aegis Logistics is seemed bearish more. It's the top loser stock of last Friday's market session. I have drawn this chart to show a bearish area to short-term investors. Wherein AEGISCHEM can show 150 - 138 - 118 levels into that area. Intraday traders can sell for targets of 166 - 164 levels. And if it breaks the 164 level, then be ready for a downtrend.
Bank Nifty had stuck into the descending channel (DC) from 25 Oct to 07 Dec. The upper trendline of DC has broken and started moving forward. It has filled the 25 Nov gap yesterday and marching towards the supply zone. We have chances to see 37600 – 37800+ levels today. Intraday traders can take benefit of it. But you must note the second resistance of 36871 ....
NSE Kotak Mahindra Bank has started marching upside because it has completed wave ((4)). Its fifth wave will end nearby the retracement of wave ((4)) of 161.8% and sub-wave of (4) of 161.8%. So, long-term investors may hold for the targets of 2345 - 2446 - 2536 . At present, intraday & short-term investors can also jump on this stock. Kotak bank prices may move...
ZEEL is forming 3rd impulsive wave. Wave 2 has taken a reversal from a 61.8% Fibonacci ratio. If zeel is forming wave 3, we should at least get a 161.8% extension of wave 1. Target 1:390 Target 2:362 Target 3:335 Invalidation: Wave 2 can never overlap the starting point of the wave.
If nifty breaks 2nd target of 18314, we may see a good move above. It can take a U-turn from 2nd TP to parallel channel C support trendline.