Breakout of Inverted Head & Shoulder completed on Daily Time Frame.
Long Position can be initiated.
Stop Loss for the Long Position will be 475 on Weekly Closing Basis.
Today will be gap Down opening in BANKNIFTY . After opening if banknifty start trading below 45450 level then possible downside rally of 400-500 points upto 45050 Level. And this rally can extend for another 400 points if it gives breakdown of 44950 level. Any Major upside only expected in case banknifty starts trading above 45550 level. also possible Reversal...
An inverted Head & Shoulder Chart Pattern Breakout happened on the weekly Time frame of BSE:AVANTI
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned.
Stop loss will be on...
A Bullish Flag and Pole Chart Pattern Breakout happened on the weekly Time frame of NSE:WESTLIFE
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned.
Stop loss will be on...
ELLIOTT WAVE ANALYSIS:-
View-1:-
It seems that a zigzag wave has completed.
A bounce back looks like connecting correction wave B is forming, a little bounce back may happen to form a connecting waves in a correction form.
View-2:-
It seems that a zigzag wave has completed.
An impulse wave was emerged and an impulse 1st wave was completed and...
Elliott Wave Analysis:-
Due to some management changes in bank there are certain fundamental changes taking place. Let the cloud get cleared, until that we wait for the clear sky.
View1:-
triangle pattern.
B wave was formed.
Once C,D wave was formed then we can enter into the trade.
until that we watch the wave formation.
1631 as stop loss we enter...
There is a triangle pattern formation in the chart for long term.
Expecting a bounce back once it reaches 210-214 zone.
Target for triangle pattern with taking C Wave as stop loss. once there is a breakout then we can go for the consider E wave as stop loss and we can trail accordingly.
Target:-
T1- 242
T2-264
T3-300
T4-330
Stop @ 190
we have to wait...
Financial highlights.
Over the past five years, the company has achieved an impressive compound annual growth rate (CAGR) of 33.9% in terms of its profit.
Company has a good return on capital employed (ROCE) of 61.5 %.
Stock has negligible debt to equity of 0.09. /list
Technicals.
Currently price is at somewhere between support and resistance level of the...
Elliott Wave Analysis:-
Both correction and impulse wave we are expecting a correction.
once correction get ended an impulse take place.
View 1:-
There is also expected an impulse wave i) completed and a correction wave ii) was almost over if raise start then impulse wave iii) is expected to move on.
View2:-
Correction wave was still pending and a low...
Elliott Wave Analysis:-
one corrective wave W was over and a connecting wave X for complex correction was over.
now the complex correction was forming, a wave seems to be over and an expanding triangle was forming.
This may be a formation of expanded flat correction too.
This expanding flat correction will be updated in another chart.
I'm not a...
Elliott Wave Analysis:-
View 1:- swing trade,
A triangle has formed in the 4th wave Correction wave and it seems to be ready to give an impulse breakout. if it so then the target will be
Target 1:- 4800
T2:- 5150
T3:-6100
Stop loss:-3291
if the pattern had broken up and crossed the 4610 then the stop may be adjusted to 3485.
View 2:-
there may be an...
Elliott Wave Analysis
A diagonal has formed in the C wave. there may be a small correction pending.
the correction seems to be a 2nd wave to the Previous 1st impulse wave.
almost 60% fall was done.
we may expect a bounce back.
further chart will be posted accordingly.
kindly follow to kept updated.
GUJARAT NARAMDA
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Broadening Wedge Pattern .
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 705+.
✅Can Go short in this stock by placing a stop loss below 585-.
ELLIOTT WAVE ANALYSIS
An impulse took place and a cycle has completed the 1) wave and the correction of 2) is in the end .
In 2) wave a simple flat correction took place. But my view is that we may expectation is that we may expect a complex correction .
It may raise to 180-190.
If the up move was slow and too long then we can expect a correction...
Elliott Wave Analysis
1) Impulse Wave:-
there is a chance of 3rd major wave ending and the 4th impulse wave is taking place.
after a fall we can accumulate.
2). Corrective Wave:- (complex correction)
A correction wave had completed and now the connecting wave X is forming may be the next wave can be a formation of Y or a complex correction. ...
Elliott Wave Analysis
1) Impulse Wave:-
there is a chance of 3rd major wave ending and the 4th impulse wave is taking place.
after a fall we can accumulate.
2). Corrective Wave:- (complex correction)
A correction wave had completed and now the connecting wave X is forming may be the next wave can be a formation of Y or a complex correction.
Elliott Wave Analysis.
The 5the wave was not truncated it was just turned into an flat correction. A small low till $75-$77 is expected before a bounce back.
This entire fall was indicating the 2nd Wave of the entire previous impulse 1st Wave.
once the fall was over then there will be a good impulse.
Your comments are most welcomed.
![BANKNIFTY: [INTRADAY] #BANKNIFTY PE & CE Levels(21/09/2023)](https://s3.tradingview.com/r/rKI5KcUV_mid.png "[INTRADAY] #BANKNIFTY PE & CE Levels(21/09/2023)")
