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Hdfc ltd conditional trade...Hdfc Ltd spot cmp 2500 Time frame :- Daily Study : Elliot wave Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move will start,, so it spends time in that reversal zone. Wave 2 :- wave 2 is first corrective wave of impulse phase, in this case study second wave consist of 325 points and have retraced around 78.6% of wave 1,, general rule as per theory is wave 2 retraces around 50 to 88.6% of wave 1,, the retracement of wave 2 is sharp in nature and are of very short period,, and wave 2 low can not be below the low point of the start of the impulse phase.. Wave 3 :- wave 3 is second impulse wave of impulse phase,, in this case study third wave consist of 1268 points in terms of points and 78% in terms of percentage,, 3rd wave is longest and strongest wave of impulse phase,, once price breaks out above high price of wave 1 traders jumps into the trade and wave 3 is extended wave of wave one,, it can extend from 1.618% to 3.618% of wave 1 in both terms of points and in terms of percentage,, in this case wave 3 have extended around 2.618% of wave 1 in terms of price and percentage.. wave 3 also consist of minor impulse phase which is shown as part wave of 1-2-3-4-5 of wave 3. Wave 4 :- wave 4 is second corrective wave of impulse phase, in this case study forth wave consist of 542 points and have retraced around 38.2% of wave 3,, general rule as per theory is wave 4 retraces around 23.6% to 50% of wave 3,, the retracement of wave is slow and in zig zag manner,, generally triangles and flats,, and are time consuming,, and wave 4 can not go below the peak levels of wave 1,, in this case study wave 4 is in form of symmetrical triangle,, descending triangle and on smaller time frame last leg have bullish wolf wave formation,, Wave 5 :- Wave 5 is third and final impulse wave of impulse phase, in this case study we are pre assuming the wave 4 have matured and wave 5 will unfold from this levels,, reason for the same is breakout from symmetrical triangle formation of wave 4 , breakout from wolf wave on smaller internal wave formed in wave 4,,bullish divergence in RSI indicator,, MACD on verge to give positive cross over and breakout from falling trend line,, this all are consideration for wave 5 to unfold,, now wave 5 are ephoric in nature, move are in form of parabolic steep and in rising wedge formation,, wave 5 are equivalent to wave one and are 61.8% of wave 3,, if we go as per this calculation wave 5 can end around 3110 to 3190,, as per price action breakout of symmetrical triangle gives same amount of move after breakout that will lead to 3110,, now as per wave 1 in terms of points wave 5 will be of 480 points than counter may head towards 2840 levels,, and as per % terms of wave 1 move of 32% would lead counter to levels of 3190,, which also coincides with 61.8% of wave 3,, Much more can be included in this but will not be able to do so,, Note :- personally holding this counter from 2400 levels.. Good bullish formation..
HLong
by RUDRA007
MARUTI GOOD bullish formationMaruti spot cmp 7200 Time frame :- 240 mins . Study :- Elliot wave Counter have given reversal from maturity levels of corrective wave 4, now if wave 5 unfolds can give good upmove,,, Rsi have given breakout from falling trend line Macd on verge to give positive crossover,, Hidden bullish divergence seen in both indicators where price making higher low and Indicators making lower low,, FAlling parallel channel formation in wave 4,, once price breakout is confirmed from this parallel channel good short covering can be seen in counter,, Panic low done in price with highest volume in whole swing,, low of the panic selling not broken ,, means follow through selling is missing and all the traders are on one side of the trade ,, no more left to go short in this counter,, now on reversal all will be forced to cover their shorts.. Good bullish formation for the counter
NSE:MARUTILong
by RUDRA007
2
Weekly Analysis of BTC-USDBitcoin posted a strong upside rally and closed the last weekly candle with more than 12% gains. It formed a bullish weekly candle and made a high of $42,605 but in the last two days, traders rushed to book profits at higher levels and closed the week slightly below $40K. AT the time of writing, BTC is trading around $40,090. On the Daily TF, BTC is now sustaining above its major DEMA’s which depicts that further buying strength is most likely to increase in the coming days. Currently, BTC is trading in the Fibonacci levels of 0.786 and 0.618, which is placed at $34.7K and $43K. However, the resistive level of $42K is very critical for the next upside rally. Once we get a decisive breakout from this range, the next potential target is placed at $45.5K followed by $48.5K. On the downside, the nearest support is present at $39K, if it breaks this level on a closing basis, the next support is present at $36.5K followed by $34.5K. Weekly MACD is about to give a positive crossover which suggests that BTC has started to turn bullish and we can expect trend reversal in the coming week. The daily RSI has given a clear breakout from its trendline resistance which also depicts the same. However, a weekly closing above the level of $41K would act as a confirmation of the trend reversal.
COINBASE:BTCUSDLong
by TradeDog-Research
Nifty I.T. Up trend continuationIndex is respecting the rising trendline support and bouncing ever time it touches the demand zone,, bullish candle formation after small consolidation,,, MACD have given positive cross over after the retracement of last up move , indicate up trend is intact and will continue RSI have started making higher high and higher low after the retracement from 90 to 50 levels,, Till the levels of 29284 in not broken on weekly basis,, buy on dips can be used on I.T. sector,,
NSE:CNXITLong
by RUDRA007