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Start of Zigzag wave C or Impulse wave 3.Get longAs depicted in the chart we have completed up move in 5 wave's followed by 3 wave corrective move.Hence it can be assumed that current rise from 68 is either a zigzag ABC or a start of new impulse,in either case we can expect this up move to continue and can take price between 92-100 levels. Target for zigzag wave c is 92-95. Target for impulse ave 3 is 100.75. As per classic elliot wave we have surpassed wave B top of 81 in todays trading session along with wave 5's top of 82.15 which is suggesting to go long with a stop-loss of 77 for above mentioned targets. Risk-reward for zigzag wave C is 1:2 Risk-reward for impulse wave 3 is 1:3. Today if we get closing above 81,then one can go long. Disclaimer:This are just my views on the stock,no positions should be taken solely on its basis,publishing this for my future reference.
NSE:SAILLong
by UNDERDOG-29
7
TATA CONSUMER — The Calm Before Wave 5TATA Consumer has completed a textbook corrective structure from its recent high of 1180.50. The entire correction unfolded as an ABC zigzag, neatly contained within a falling channel. Within wave C of this zigzag, price action formed an ending diagonal, with wave 4 overlapping wave 1—confirming the diagonal structure and marking the completion of higher-degree wave 4 at 1059. This 1059 level also becomes the key invalidation point for the current bullish outlook. Following this, price broke out impulsively to 1150, forming what appears to be wave 1 of the next leg higher—wave 5. The current pullback is likely wave 2 of 5, and as per Elliott Wave rules, it must remain above 1059 to keep this count valid. Wave 5 targets are projected using a 100% extension of wave 1 from the end of wave 4, which gives a potential upside zone around 1250.90. This forms the ideal target range if the wave count unfolds as expected. The targets could as well extend to 1.618x of wave 1. From a higher-degree perspective, since wave 4 overlaps with wave 1 (at 1075), the entire advance is best seen as a leading diagonal. This pattern often appears as the first wave of a new impulse, reinforcing the view that one more leg higher is likely to complete wave 5 and mark the end of wave 1 or A of a larger degree. RSI had peaked near 70 during subwave 1 of 5 and has now cooled to the 40s, which aligns well with a wave 2 retracement. Earlier, RSI had dipped closer to oversold levels at the Wave 4 low, adding further support to the case for a completed correction. Conclusion: We are in prime low-risk, high-reward territory. Setup is textbook Elliott bullish continuation — tight invalidation and defined structure. Disclaimer: This analysis is for educational purposes only and not investment advice. Always do your own research before making trading decisions.
NSE:TATACONSUMLong
by WaveXplorer
Cycle C of Zigzag underwayCycle Degree:Blue Primary impulse:red Primary Corrective:Yellow Monthly chart of Tata Steel is suggesting price raising in zigzag corrective pattern on cycle degree of which we are in wave C shown here in blue.As zigzag being a 5-3-5 pattern wave C is unfolding in an impulsive manner on primary degree shown here in red.This impulse has completed wave 4 recently and wave 5 is underway currently. Ideally wave 3 is found to be extended in an impulse but this being a commodity stock,wave 5 is often found extended.Equality target on cycle degree is coming at 480 level and wave 5 extention target on primary degree is coming at 360,which is still double from current levels. One can go long at cmp of 162.25 as price has recently broken its previous all time high of 153 as is sustaining above that breakout level from last 3 weeks post a pull back.On the downside a stop-loss of wave 4 low should be kept which is coming at 115 odd levels. Disclaimer:This are just my views on the stock,no position should solely be taken on its basis,posting this just for my future reference.
NSE:TATASTEELLong
by UNDERDOG-29
2
The probability chance for short selling tomorrow.This is a clear Sharp Zigzag pattern. The price already reached 0.618 for wave ((Y)). The trader can get a High probability chance for short selling tomorrow with a very small protective stop. Supports S1- 17810 S2- 17650 The Short Seller can use these supports level as the target. I am expecting a Nifty future between these both supports. Definitely, if I found any clue for a turning point in the nifty future in the range of 17810-17650 . I will create a long position for a new high. ((Y)) = ((W)) at 18711 which is still too far and, as per the time-cycle C2 can be after 12th march, 2022.
NSE:NIFTY1!
by Trade-Technique
12
Double Zigzag wave y in progressSo far we are seeing corrective price action unfolding in nifty in the form of double zigzag pattern(WXY). we are done with wave W and wave X,and wave y move started on 29th march when index crossed 17300 on the upside.Of this wave y we are seeing wave A achieving it's 61.8% extention target at 18054 and taking pause there after, suggesting wave B has started.This wave B can retrace wave A by 61% which is coming at 17660,but it's a guideline and not elliot's zigzag pattern rule. Ideally one should wait for retracement for getting long in index,as we are nearing 55 day time cycle topping zone(8th april-10th april).One should avoid shorting at this moment because we still havent got a bearish hourly candle which has closed below it's previous candle low. For upside move one should wait for hourly close above 18100. Disclaimer:This are just my personal views sharing it for my future reference,no position should be initiated on its basis
NSE:NIFTY
by UNDERDOG-29
8
Maruti :Zigzag ABC start of wave CIt seems like maruti is unfolding zigzag correction with wave A being a 5 wave impulsive down move from 8368-6990,wave B taking a form of regular flat from 6990-7460.And going ahead we might see impulsive 5 wave unfolding on the downside in the form of wave C. Reason behind completion of wave B 1)Internal strucutre of flat(3-3-5) is done with wave C forming a diagonal pattern. 2)Price has fallen in the Target zone for wave C in a regular flat correction(100-138% extention of wave A) 3)We have 50% retracement of wave A of Zigzag at 7680. 4)2-4 TL breach along with wave 4 low's in lesser time is seen in wave C of wave B Fresh shorts trade can be taken at cmp of 7430 with a hourly closing stop of 7680 with an initial tgt of 7000 on the down side. Disclaimer:This are just my views,no position should be build or exited on its basis.
NSE:MARUTIShort
by UNDERDOG-29
7
NIFTY : ZIGZAG CORRECTION AHEADAfter a recent high of 11800 , nifty has given a fall to the level of 11185 with a pattern called a LEADING DIAGONAL. Leading Diagonal is formed when a new trend is going to start or at the starting of a ZIGZAG CORRECTION for the prior move. As per the current structure , we can assume it is going to have a zigzag correction. Trading Strategy: Sell in the range of 11600-11700 keeping stop loss of 11810 for the target zone of 11200/11090/10900
NSE:NIFTYShort
by TradingSutra
5
Trent Ltd – Double Zigzag Correction in PlayAfter topping out at ₹8,345, Trent has been locked in a larger corrective structure that now appears to be unfolding as a W–X–Y double zigzag on the weekly chart. Wave Count Wave W bottomed at ₹4,715 as a clear ABC. The rally to ₹6,261 completed Wave X. Price is now progressing in Wave Y, where: Wave A has unfolded, Wave B topped at ₹5,674, Wave C is expected to continue lower. Key Levels Target 1 (1.0 extension): ₹4,370 Target 2 (1.618 extension): ₹3,565 Stop-loss / Invalidation: Trading level: ₹5,674 (Wave B high) Structural level: ₹6,261 (Wave X high) RSI Check RSI remains below 50, confirming bearish momentum. Conclusion The correction appears incomplete with scope for another leg down before a larger recovery can begin. While the working invalidation sits at ₹5,674, structurally the bearish count holds until ₹6,261 is broken. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
NSE:TRENTShort
by WaveXplorer
Axis Bank: Zigzag Ended at 1.618, Diagonal Structure in PlayAxis Bank topped out at its all-time high (₹1,339.65) before entering a sharp ABC correction. Wave A fell to ₹1,124.30 Wave B retraced to ₹1,281.65 Wave C declined to ₹933.50, completing exactly at the 1.618 projection of Wave A from Wave B — a classic Zigzag termination. This precise completion at 933.50 set the stage for a potential new bullish cycle. From that low, Axis Bank has advanced in an overlapping fashion, typical of a Leading Diagonal. Price is now consolidating within Wave 4, unfolding as a complex W-X-Y-X-Z correction, hovering in the 0.5–0.618 retracement zone of Wave 3 (₹1,050–₹1,086). The invalidation level is ₹1,032.35 (Wave 2 low). As long as this holds, the bullish diagonal count remains valid. If Wave 4 is indeed complete, the next move would be Wave 5, with potential to break past the swing at ₹1,238.70 and eventually retest the ATH of ₹1,339.65. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
NSE:AXISBANKLong
by WaveXplorer
Impulse wave 3 or Zigzag wave CParas Defence has completed it's regular ABC correction post and 5 wave impulsive raise.Going aheadwe can see another impulse unfolding which can take price to 1042(in case of current structure being a zigzag) or till 1291(in case of wave 3 of an impulse). Invalidation of this view comes at 610 levels,hence a downside stop loss of 22% can yield an upside target of 45%-70% on the upside giving us favourable risk-reward. Hence One can go long at cmp of 736 with a stoploss of 600 and target of 1042,1290. PS:I have assumed wave 2 or wave B completion as prices took support of 61% retracement level of wave 1,along with breaching 2-4 trendline of wave C on lower time frame. Disclaimer:This are just my views on the stock no position should solely be taken on its basis.Posting this just for my future reference.
NSE:PARASLong
by UNDERDOG-29
1
NEW IMPULSE OR ABC ZIGZAGNEW IMPULSE OR ABC ZIGZAG?????AS OF NOW A DIAGONAL PATTERN HAS FORMED WHICH IS CURRENTLY BEING RETRACED.WHERE IT WILL END??? PRICE CONFLUENCE COMES @1471.80(61.8% RETRACEMENT OF WAVE 1 OR WAVE A) -1468(1:1 WAVE AEXTENSION ALONG WITH PARALLEL CHANNEL LINE).THIS DIP SHOULD BE USED TO ACCUMULATE IF ANY REVERSAL CANDLE APPEARS NEAR PRICE CONFLUENCE LEVEL @1466-1470 WITH GOOD VOLUMES. DISCLAIMER:THIS IS JUST MY VIEW.TRADES SHOULD NOT BE TAKEN ONLY ON THE BASIS OF THIS ANALYSIS.
NSE:TITANLong
by UNDERDOG-29