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BIOCON OVERSOLD (FIBO TIME ZONE ANALYSIS )Biocon Ltd looks fundamentally very disappointing but there are few patterns on charts that makes it technically interesting at this point of time. Betting for an upside with a calculated risk doesn't seem as a bad option for now. BIOCON ON CHARTS: - Biocon has formed a Bullish Wolfe Wave. - After 10 Weeks the Weekly closing has been above prior candle's close. -The bullish pattern has been formed at a very important Fibonacci Retracement level of 89%. - RSI is at Oversold zone and at Reversal Zone. - Negative DI index stands at 31, it generally indicates a oversold trend and a trend reversal in Biocon. Because -ve DI in Biocon never crosses 35. - Directional Index stands at 38. Generally 40-50 Level is a trend reversal indication. - According to Fibo time zone analysis, Biocon is nearing 5.55 Time level. It is a trend reversal level. A good up move above 260 can lead the stock to 320 Level. SL seems to be at below 220. CHART & ANALYSIS ADARSH DEY
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NSE:BIOCONLong
by AdarshDey
7
NIFTY 20000?we can see that NIFTY is at correction. And there is good amount of negative news creating fear right at support zone. I see huge volume coming in at this stage, a best place for institutional players to accumulate. There maybe some price push down to show retailers, that they are in right direction. At present global cues are also going well. Best place for conservative buyers is to buy above B wave. Aggressive players can buy at breakout support trendline with low as stop-loss.
NSE:NIFTYLong
by mdrameezkhan24
GRAPHITE INDIA LTD (WOLFE WAVE)Graphite India in Bullish Wolfe Wave. As this analysis has been done in weekly time frame so having patience is advised for the target and return.The Rate Of Change has been customised for a better fit. The ROC indicates the initiation of a uptrend. However, the major up move is expected for 587 when the stock closes above 418 on Weekly basis. So it is advisable to venture into this trade after a proper confirmation. If we closely look at the stocks in Graphite & Carbon Segment majority of the stocks are bottoming out or in uptrend. In Graphite & Carbon Segment 1.HEG & 2. PANCARBON has some bullish sign as well . One can focus on these two stocks as well apart from Graphite India for good returns. CHART & ANALYSIS ADARSH KUMAR DEY
NSE:GRAPHITELong
by AdarshDey
3
Basic patterns of Elliott Wave Theory ExplainedTHE INTRODUCTION As you all know the waves always moves in zig zag fashion, either it moves up or it moves down, but the pattern always remains same i.e. Zig zag. So, the most important question is, with which method one can define the trend or some meaningful pattern, which can help anyone to plan his trade & other opportunities. There are multiple technical indicators available which can help to identify the patterns. However, the method which I use is The great Elliott Wave Theory. In this post I would like to summarize all of the basic Elliott Wave patterns. Here, in the Elliott Wave world, waves are always of two types. 1- Impulsive 2- Corrective CYCLE Whenever one impulse and corrective waves get combined one cycle is formed. Here, I have drawn the graphical representation of same. IMPULSIVE WAVES A Impulse is the combination of five wave structure, where all five waves are termed as: wave: 1,2,3,4 & 5 SUB STRUCTURE: Here, wave 1, 3 & 5 always sub divides into five smaller waves (*) (•)Waves 1 & 5 sometimes also gets converted into leading diagonal & ending diagonal. And, waves 2 & 4 always gets completed into a combination of three wave s structure. (structures could be simple or complex) (A separate topic) (also called as the corrective waves) CORRECTIVE WAVES ZIG ZAG Zig Zags are the pattern having the combination of three waves. (Wave a, b & c) Where, Wave A, subdivides into five waves , Wave B, sub divides into three waves and, Wave C, sub divides into five waves Here, I have drawn graphical representation of same. FLAT FLATS are the pattern having the combination of three waves. (Wave a, b & c) Where, Wave A, subdivides into three waves Wave B, sub divides into three waves And, Wave C, sub divides into five waves Here, I have drawn graphical representation of same. TRIANGLES A Triangle is the side ways price moves, bounded by converging trend lines. Internal wave in a triangle sub divides into 5 sub waves, named as A,B,C,D & E which further sub divides into 3 sub waves. Triangle often called as the terminating waves patterns, as it always terminates the big wave structure. LEADING DIAGONAL It consists of five sub-waves, labeled 1-2-3-4-5, Here, waves 1 & 4 always overlaps (exception) & Here, wave 1,3,5 sub divides into 5 sub waves & waves 2,4 sub divides into 3 sub waves. ENDING DIAGONAL It also, consists of five sub-waves, labeled 1-2-3-4-5, Here, waves 1 & 4 always overlaps (exception) & Here, wave 1,2,3,4,5 sub divides into 3 sub waves The patterns explained above are some of the basic patterns of " The Elliott Wave Theory" In future I would to cover separate topic in great detail.. Stay Tuned....
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Education
by ShubhamKatiyar
3