Wave
svb bank analysissvb bank elliot wave analysis monthly chart this stock upside complete 5 wave and enter monthly correction
Ocean short
Ocean in a range of 10% sell at the top and buy at the bottom simple as that 3d wave trend giving a signal of this sale
although a buy breaking through the range and above the 144 average would be much better. For that we should wait if that were the case.
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
Weekly chart log scale It seems to be correcting in a wave iv of 2 lesser degrees . But since the wave iv is very sharp it seems to a just wave A of a very long time consuming triangle in the future . Where will this wave iv end , most probably it should be supported by the base channel . Kindly note this correction should not go beyond 0.618 .
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.
BANKNIFTYBanknifty at resistance zone.
Triple top. Expecting bearish
Wolfe Wave. Pattern invalid
close above 42750.
long nifty expecting nifty to go long
Target 1 -- 18284
target 2 -- 18416
take only entry after the 18180 level is crossed with relatively rapid up momentum
HGS is getting ready for its move.HGS with a good fundamental we can expect a good bull run in upcoming days.
still there may be an slight correction pending.
It may or may not take place.
Expecting Bullish BreakoutHere we can see DXY has completed ABC on a higher degree and is moving inside triangle at the bottom. Though the wave count looks complete we cannot decide yet and in looking for a 3 wave drive upside which is being supported by the triangle forming ABC correction.
IMPORTANT LOWER LOW ZONE OF BTC FROM JANUARY 2022 TO TILL MONTH A beautiful example of Lower Low broke zone in Bitcoin chart. These zones are very important price action range areas. Look at Lows of Jan, May , June & Nov, whenever this zones are broke , new zones and another new lower lows created. I want say if Nov month Lower Low break then btc will show another lower low like past month.
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
Bajaj FinanceThis stock has been behind when Nifty and all other heavyweights were rallying.
Eventually it will catch up.
Bullish Wolfe wave pattern with double bottom in sight.
Wait for price to close above 6800 for safe entry.
BOMDYEING in Bullish Wolfe WaveBOMDYEING in Bullish Wolfe Wave. It can be bought with a SL of 79 for the target of 94.80 and 108.80. The Directional movement on the downside seems exhausted and a reversal is expected.
( It should also be noted that the result date is 4th Nov 2022, the uncertainty remains high so please put a strict SL)
CHART & ANALYSIS
-- ADARSH DEY
RBL BANKChart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BajajAutoBearish Wolfe wave with double top pattern.
For confirmation price has to go inside the channel signaling a false breakout scenario.
LT (Short setup)A wolfe-wave with Double top setup. RR is high.
Good Setup.
Invalid above todays high(1937)
BankNifty (Bearish Wolfe Wave)Pattern is activated. Expected a pull-up till 40600 and forming double top before falling. Target till previous gap (39400-39500).
TechM#TechM CMP 1127 Technically wait for close abv 1140
Tgt 1250/1350/1500
Showing good YOY sales growth.
Many Acquisitions in past 1-2 year. Hoping for better synergy.
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....
