The Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (1), (2), (3), and (4), which are shown as blue numbers on the weekly chart. Wave (5) appears to be underway at this time and might reach a minimum...
Hi Folks, Quick heal is undergoing larger 3 wave on weekly time frame. Within internals of ongoing 3 wave, we can see correction in 4 wave with a classical falling wedge pattern. Falling wedge has been broken with good volumes on daily time frame. RSI augments the price action and has broken with HH-HL structure. 2-4 trendline will act as support as well as...
Hi Friends, Following is the EW counts on weekly Tf. Currently, we are unfolding a larger wave 3 which has just started. 1. Larger Wave 1 was an ending diagonal where 4 wave overlapped with 1st wave. 2. Second wave has made a decent retracement. 3. With sectoral tailwinds in consumer durables and stock seems to be picking accumulation at the last leg of...
Hi Friends, Bata has retraced 0.78% of previous impulse. It is setting up nicely with favourable risk reward ratio. There has been nice accumulation in volumes/delivery. Seems to be breaking out of correction. Strong tailwinds in consumer durables might propel it to larger 3 wave. Targets are marked in the chart on the basis of fib projections.
Hi Folks, HDFC life looks very bullish on daily time frame. Currently, Daily RSI has broken out nad weekly RSI about to test falling trendline. If the breakout sustains, Risk reward is highly favourable. Life insurance theme is available at very reasonable price, there is increment in premiums which lead to top line as well as bottom line growth for insurance sector.
Hi Folks, Currently, stock seems to be completing 4 wave of ongoing larger 3 wave. Falling wedge has been broken and RSI breakout is evident too. Targets for 5 wave up are marked on chart. Huge tailwinds in consumer durable can propel this to new highs.
Hi Folks, Dwarkesh has closed above 30 WEMA in current weekly closing. Recent volume surge in sugar sector indicates smart money doing accumulation. Soft commodities are in major bull cycle; sugar, tea, paper all sectors giving bullish breakouts. Analysis 1. Current weekly closing above 30 WEMA with a strong candle. 2. RSI breakout on weekly charts. 3. On...
Hi Folks, Stock has seen a major breakout on weekly charts from falling wedge pattern. RSI has broken out to confirm the upmove. Closing above 30 WEMA also provide more indications at the change of trend for coming months. Elliott Wave Analysis 1. Completed an ongoing impulse with a divergent 3-5 wave. 2. Correction of the impulse seems to be completed...
Hi Folks, Vinati organics has been in price as well as time correction since September 2022. Almost, corrected for 2 years and maintained a falling wedge, cooling off RSI on weekly and Monthly timeframes while correcting for almost 700 points. Fundamentals Stocks in chemical/speciality chemicals sector are mostly sitting on operational capex with stable...
Hi Folks, Bandhan bank made a top in Aug 2018 and since then it is in downward trend. News regarding poor top management, high NPA, low NII and other fundamental issues has been circling around till recent past. Now, there are few positives in their performance forecasts in con calls and rating updates. Stock might try to give a breakout from bearish...
Hi Folks, Metrobrand has shown very high delivery in overall day volumes. It has gone through a healthy correction of 50% of last leg of impulse. Stock has absorbed selling pressure, albeit with low volumes with high liquidity. Currently, price has broken out the falling wedge and RSI has shooted up to corroborate the strength of this up move. Constant weekly...
The Elliott Wave analysis indicates that the stock has finished waves (i) and is nearing the end of waves (ii), which are shown by blue numbers on the daily chart. Wave (i), also known as the impulse wave, unfolded into five waves in red colour. Wave (ii), also known as the corrective wave, unfolded in an a-b-c pattern, as indicated in red. It is a buying...
Hi Folks, I have been studying this sector(agro chemical) for a while. This sector can outplay operational deleverage since sitting on capex since few years. Recently, they did a rights to lessen their debt to save interest on borrowings. UPL is also a market leader in agro chemicals sector with presence across the globe with an array of topline...
Date: 24th April 2024 Time : 10:45 Am Valiant Organics has been in my watchlist for a long time, Finally, it seems like its Wave structure of downfall is finished with March low point. Now in ABC Wave Structure C Wave is likely to reach till Depth of Correction Point which means Prev point of 4th wave is new Target. Apart from this There is a...
#Rain Industries : 20 Jun 2024 "Life is Simple, we make it complicated, So is Trading. Discover Simple, Yet POWERFUL IDEAS." In Play : HH : HL Summary • CMP : 170.50 • Clean Price Action with Vol favor's BULLS FOOT PRINT • Nice CONSOLIDATION of around 24 months • Trading right AROUNG VP mountains - ATH : 475 Conclusion • CMP 170.50 • Looks good for going...
CMP 1030 SL 950 Target 1080/1160/1260 LIC will be Better than LIC policy in 2024
Good morning, friends! 🌺🍬 Here are the directions for June 20th: There are no significant changes in the global and our markets. They are maintaining a moderately bullish sentiment. Today, the market may open neutral to slightly gap-up, as indicated by GiftNifty, which shows an increase of 10 points (at 8:00 AM). Nifty Analysis Nifty and Bank Nifty structures...
Bank Nifty Analysis Bank Nifty had a solid rally, but retraced a bit in the second half. Structurally, the retracement could be sub-wave 4. Here, the market indicates a minor correction, structurally the C leg of the 4th wave. If it finds support around the 50% or 61% Fibonacci levels, then we can expect the 5th wave bounce back. However, it should break the 38%...