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BANKBARODA: Elliott Wave Analysis & Trendline BreakoutTechnical Analysis of BANKBARODA Elliott Wave Analysis and Resistance Trendline Breakout The Chart of the BANKBARODA stock displays an interesting Elliott wave pattern, suggesting a potential bullish scenario. Let's break down the analysis: Elliott Wave Pattern: Completed Wave ((4)): The chart seems to have completed a corrective wave ((4)), which took the form of a correction (A) (B) & (C) in blue, inside wave (C) we have witnessed wave 1,2,3,4 & 5 in Red had completed. Potential Wave 5: The breakout above the resistance trendline suggests the initiation of wave 5, which is expected to be an impulsive move to the upside, possibly towards 300 & 316 or more. Supporting Divergences: Bullish Divergence on RSI: The Relative Strength Index (RSI) shows a higher low while the price formed a lower low. This divergence indicates a potential bullish reversal and supports the idea of a rising wave 5. Potential Upside: Target for Wave 5: The extent of wave 5 is often unpredictable, but based on standard Elliott Wave principles, it could potentially reach the 1.236 extension of wave 4, This level could be a significant upside target near 316. Invalidation Level: 229: If the price retraces below the 229 level, it would invalidate the current bullish scenario and suggest a potential continuation of the downtrend at least counts have to change. Key Takeaways: The breakout above the resistance trendline and the bullish divergence on the RSI suggest a potential bullish trend for the BANKBARODA stock. Wave 5 could lead to a significant upside move, potentially reaching the 1.236 extension of wave 4. However, a break below the 229 level would invalidate the bullish scenario. Important Note: Elliott Wave analysis is a complex and subjective technique. It's crucial to remember that there is always a risk of being wrong. This analysis should not be considered as financial advice. It's essential to conduct your own research or consult with a financial advisor before making any investment decisions. The information provided in this analysis is for educational purposes only and does not constitute financial advice. The author and the platform are not responsible for any losses or damages arising from the use of this information. Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:BANKBARODALong
by RK_Chaarts
PSUBANK: Elliott Wave Analysis and Technical BreakoutTechnical Analysis: PSUBANK Index Elliott Wave Analysis The chart reveals a potential Elliott Wave structure within the PSUBANK Index. We're currently observing a bullish development within wave 5. This bullish impulse is supported by a clear upward trendline breakout. Key Points: Resistance Trendline Breakout: The index has decisively broken above the resistance trendline, suggesting a potential reversal of the previous downtrend. Bullish Divergence: The presence of a bullish divergence between price and momentum indicators, often signals a potential trend reversal. This divergence adds credence to the bullish outlook. Wave Structure: The current structure aligns with an impulsive wave pattern, where wave 5 is typically the dynamic move after corrective 4th Elliott Wave sequence. Potential Scenario Based on this analysis, we can anticipate a continuation of the bullish trend, potentially leading to the development of wave 5. This could drive the index higher, with the upside potential potentially reaching the 8000-8200 zone. Trading Implications: Bullish Bias: Maintain a bullish bias for the PSUBANK Index, given the strong technical signals and potential for further upside. Entry Points: Consider entering long positions on pullbacks (if any). Stop-Loss: Place a stop-loss below the 6185 level, which would invalidate the bullish scenario. Risk Management: Implement proper risk management techniques, such as using stop-loss orders and position sizing, to protect your capital. This analysis is based on Elliott Wave Theory and technical analysis, which involves multiple possibilities and interpretations. The information provided is for educational purposes only and should not be considered as financial advice. It's crucial to conduct your own research and consult with a financial advisor before making any investment decisions. There is always a risk of being wrong, and users are advised not to trade or invest solely based on this analysis. Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:CNXPSUBANKLong
by RK_Chaarts
Is VEDL Ready to Soar? Elliott Wave Analysis Suggests YesTechnical Analysis of VEDANTA LTD. (VEDL) Based on Elliott Waves This analysis is based on Elliott Wave theory and is for educational purposes only. It does not constitute financial advice. Elliott Wave Analysis: The provided chart of VEDANTA LTD. (VEDL) suggests a bullish trend based on Elliott Wave principles. The analysis identifies a potential impulse wave structure, which typically consists of five waves. Elliott Wave Analysis Update We're currently within Wave (3) in blue intermediate degree, with subdivisions marked as Red 1 to 5 Minor degree, Having completed Red 1 to 3, we're nearing the end of Red 4. Key Takeaways: 1. Post-Red 4 completion, we expect an upward move to complete Red 5, targeting 1.618 Fibonacci extension (measured from Blue Wave (1). 2. Wave 5 (Red) is the final leg of Wave (3) in Blue which is of intermediate degree. 3. Overall, the outlook remains bullish. Important Principle: As per Elliott Wave Theory, Wave 4 cannot overlap Wave 1. This means Red 4 cannot enter the territory of Red Wave 1. Nearest or current Invalidation Level: If the price enters 471 (Wave 1 high), our labelled view will be negated, and we'll need to reassess the chart. Expected Outcome: If the invalidation level holds, our view remains intact, targeting 537 or nearby. Actionable Insights: - Monitor Red 4 completion - Watch for Wave 5 unfolding - Keep 471 as the critical invalidation level Right Direction: The annotation "Right Direction ↑" suggests that the overall trend is expected to be upward. Invalidation Level: The level of 424 is identified as an invalidation level. A break below this level would negate the bullish outlook and suggest a potential reversal. Target: While a specific target is not provided in the chart, a potential target for wave 3 could be around the 1.618 extension level (537.55) based on the length of wave 1. However, this is a rough estimate and subject to change based on market conditions. Overall Outlook: Based on the Elliott Wave analysis, VEDANTA LTD. (VEDL) appears to be in a bullish uptrend. The market is expected to continue rising, with a potential target around the 537.55 level. However, it's crucial to monitor the price action closely and be prepared to adjust the analysis if the market's behavior deviates from the expected pattern. Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:VEDLLong
by RK_Chaarts
5
Navigating the Waves of Automotive ExcellenceLumax Auto Technologies Ltd.: Navigating the Waves of Automotive Excellence Let's dive into the world of Lumax Auto Technologies Ltd., a stalwart in the realm of automotive components. About Lumax Auto Technologies: Lumax Auto Technologies Limited, a proud member of the Lumax-DK Jain Group, stands as a market leader in crafting automotive components. With over four decades of experience, Lumax Auto Technologies has been a reliable supplier for both Original Equipment Manufacturers (OEMs) and the Aftermarket segment. Elliott Wave Analysis: Now, let's bring in the insights from the Elliott wave perspective: The stock has been on a journey, going through different waves like 1, 2, 3, and 4. Now, it looks like we might be entering wave 5, which is a bigger move. Within wave 5, we've likely finished the first part, and now we're waiting for the second part. Think of Elliott waves like a cycle, showing how the market's mood goes up and down. Wave 5 is interesting because it often marks the last big move in a trend, causing prices to make significant changes. Opportunity Beckons As the waves unfold, the anticipated wave 2 might offer strategic dips, presenting an opportunity to go long. Caution is maintained with an invalidation level set at 332.(Stop-Loss) The journey towards the north could potentially reveal targets reaching 470 and beyond. Of course, in the dynamic world of finance, fingers are crossed for a prosperous journey. Rising Stock Chart Lumax Auto Technologies Ltd. stands at the intersection of experience and innovation, riding the waves of automotive excellence. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:LUMAXTECHLong
by RK_Chaarts
5
Sona Comstar: Driving Innovation in the Auto-Tech WorldA Global Auto-Tech Innovator with Elliott Wave Insights Let's delve into Sona Comstar, a global player in automotive systems and components. The company operates across India, China, Mexico, and the USA. About Sona Comstar Sona Comstar is an automotive technology powerhouse, crafting highly engineered systems and components. They supply vital parts like differential assemblies, starter motors, EV traction motors, and more to automotive giants worldwide. Their innovations extend to electric vehicles, passenger cars, commercial vehicles, off-road machines, and two & three-wheelers. What sets them apart is their cutting-edge, in-house technology—advanced precision forging. It ensures high performance, consistent quality, and precision, making them an innovation-driven multinational firm. Elliott Wave Analysis Now, let's consider the Elliott wave perspective: The stock's price movements have been captured in waves (1), (2), (3), and (4), and we're possibly in the midst of wave (5). In the current wave (5), wave 1 of (5) seems to be mostly complete. An interesting observation: During the completion of wave (4), the stock experienced a deceptive breakdown, but it didn't follow through and instead reversed its course to head north along with good intensity of volumes. As per the Elliott wave analysis, every dip in the stock's price could be seen as an opportunity to go long, with an invalidation level set at 488. Rising Stock Chart Sona Comstar is not just a part of the automotive industry; it's a player in the future of mobility. With their technological prowess and the intriguing Elliott wave insights, the stock seems to be on an exciting journey. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:SONACOMSLong
by RK_Chaarts
2
Nifty - near ATH, what's next?NSE:NIFTY reached near its All Time High 19000, peoples are talking about big fall but here the view seems different to me, As per my Elliott wave study and my counting on it which can differ with every EWT user above is my shared view, please look carefully & have a happy trading here are some points to take in consideration. 1] Price is still in channel. also there is reverse breakout from wedge. 2] Wave 4 correction was not clear until the breakout happened. 3] VIX is near 11. So, volatility would still be low with following its trend. 4] RSI - Daily, weekly, monthly is still bullish no sign of weakness. 5] Daily candle high near upper bollinger band. 6] Daily, Weekly supertrend in green indicating more bullishness 7] no weakness in banking stocks which has highest weightage in nifty.
NSE:NIFTYLong
by Ajay7871
Nifty on decline. Following wave pattern Nifty is in 5th wave (drawn in orange). Nifty completed all 4 waves fully and have taken the last wave which should move it to 15500-15800 level. Nifty should reach this level somewhere in between May 09 and June 06 2022. Inside wave of this 5th wave is drawn in blue. As per that the current upmove of Nifty should take it to 17400-17460 and then the decline should continue. Disclaimer: This is just my view on Nifty. I'm not a registered advisor on market analysis. The idea is published only to spread my views on Nifty and gather feedback to cultivate healthy discussions. Please do your due diligence before investing your money. Remember, you're responsible for your investments.
NSE:NIFTYShort
by anuragcoma15
1
Nifty Redraw Elliot Wave Count and New High ProjectionFollow Blue count Wave (1) Leading was made when recovering from Mar 2020 low we are currently in wave (3) which is extended and still in progress. Follow Orange count Five moves started in Oct-Nov 2020 which triggered massive rally wave (iii) extended nearly 261.8% of wave (i). It came to end at ATH 15432 then this whole (i) to (v) wave sequence got corrected in the form of triple three retracing bit more than 23.6% at 14151. Follow Pink count here wave 3 extended more than 200% and looks to have finished. So 4th was complex correction in the form of triple three. The target for 5th wave in pink would be 16400 (38.2%) or 17789 (61.8%) of wave 1. This needs breakout confirmation 15432. DISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. Not recommended to take FnO positions based on this analysis I may or may not trade this analysis. Details in description. -------(((((Please LIKE or Comment)))))-------
NSE:NIFTYLong
by Niftydirection
4
Potential Nifty Top With Fibonacci and Elliot Wave TheoryDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Plotted Elliot Waves on Nifty Monthly Chart so lets find out potential top 1. Nifty Top Based on Elliot Wave Theory where Wave 1 = Wave 5 a. Consider Wave 1 start from 279 which is lifetime low of Nifty then wave 5 should 13589.2 Where wave 1 height is 6078.1 + 7511.1(low of Wave 4) = 13589.2 b. Consider Wave 1 start from 0 then Nifty wave 5 top should be 13868.2 Where Wave 1 height is 6357.1 + 7511.1(low of Wave 4) = 13868.2 2. Nifty Top Based on Elliot Waves and Fibonacci extension where Wave 5 is equal to 0.618 of Wave 3 which is 13800.95. The next Fibonacci extension would be 0.786 which is 15510.8 which is less likely to happen.
NSE:NIFTYEducation
by Niftydirection
5
Banknifty Ending Diagonal Final up-move towards 30700DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading. I may or may not trade this analysis --------------------------(((((LIKE)))))------------------------------- Banknifty upside getting exahusted and trading in parallel channel making ending diagonal. On Friday before close made bullish candles and closed above major resistance 30000 suggesting upside still pending. Banknifty in impulse up-move and in wave(3) which usually goes Fibonacci level 1.618=30760 of wave 1. Then after that we can expect deep correction which should go 0.5 Fibonacci level 27186 or 0.618 level 26342 in wave 4 In Wave 5 expect to go near life time high.
NSE:BANKNIFTYLong
by Niftydirection
Nifty 5th Wave of SellingDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- SL 11790 Sell for target in the zone of 11600-11555, Entry 11750
NSE:NIFTYShort
by Niftydirection
4
Indusind Wave 5 comingDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Indusind Wave 5 coming Long on close above 633 or all dips towards 600-590 zones Stoploss 577 target 660-80, 740(best case scenario)
NSE:INDUSINDBKLong
by Niftydirection
BPCL starting Impulse Wave 5DISCLAIMER:There is no guarantee of profits or no exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading. --------------------------(((((LIKE)))))------------------------------ BPCL broken contracting Triangle and starting wave 5 last impulse wave. Long between 430-410 SL on close 390 daily chart exit potential target 500-510 (~20%)
NSE:BPCLLong
by Niftydirection