Wave Analysis
JSWSTEL, Real-Time illustration of complete ElliottWave-Cycle!For the ElliottWave-Cycle, kind of behavior appears in two different forms on a market chart:
The impulsive move
The corrective move.
Motive Cycle:
The impulsive waves can occur both in an uptrend and a downtrend . Impulse Elliot wave theory summary;
It takes the form of 5+3 wave = 8 Wave patterns.
It has the three waves 1, 3, 5 moving in the direction of the trend, the motive waves, and two waves 2 and 4 which move against the trend.
Waves 1, 3, 5 can further be divided into five smaller wave s each while 2 and 4 into 3’s.
Corrective Wave Cycle:
The corrective wave comprises 3 waves moving in the opposite direction of the initial trend. Corrective patterns Elliot wave theory summary;
This wave pattern can never move beyond the origin of the previous impulse wave.
The letters a, b, c are used to label these waves respectively.
=================RULES======================
The 3 main Elliot wave rule s trading Elliot wave.
Wave 2 never retraces 100% of wave 1
Elliot Wave 3 is never the shortest wave in a completed 5 wave sequence.
Wave 4 cannot retrace into wave 1
BANK OF BARODA IS EITHER IN INPULSE WAVE OF ABC CORRECTIVE WAVEIT LOOKS LIKE BANK OF BARODA HAS COMPLETED ITS FIVE WAVE FROM BOTTOM SO IT CAN BE TERMED AS WAVE (1) OR (A) AND CORRECTION IS OVER IT IS EITHER WAVE 2 OR WAVE B EITHER WAY WHETHER IT IS WAVE A OR WAVE 1 IT IS GOING UP SIDE TARGET UP TO 51
You need to know this about Elliott Wave!Elliott Wave Cycle is formed up of a total of 8 waves (5+3 waves).
Waves 1 to 5 are counted in the Impulsive phase.
Waves A to C are counted in the Corrective Phase.
3 Golden Rules of Elliott Wave:
1. Wave 2 cannot overlap wave 1.
2. Wave 4 cannot touch the territory of wave 1.
3. Wave 3 can never be the shortest.
5th Wave Failed(Why) in Elliott Wave - Truncation(What)!Truncation learning - shortening something
That why Elliot used the word failure shorter 5-wave compare to 3rd Wave, forever it does not move beyond or higher the end of the third. We prefer the less connotative term truncation or truncation fifth wave as illustrated in the chart.
Reason of Truncating in 5th Wave:
In the bull market, weakness in price & Strength in price for Bearish market
CRUDECrude oil has given a fresh breakout after weeks of consolidation. This breakout could test $ 45, 48 & 51 (INR 3250, 3500 & 3800) provided it does not retrace beyond $41.30 (3070)
BANDHAN BANKIt has given a breakout in daily time frame suggesting further upside till weekly resistance at 370 then 390. Negation for this view would be below hourly Kijun at 340.
Ichimoku is a Japanese origin study based on a cluster of specific Moving Averages corelating Price and Time of a trend.
TATA CHEMAs per Ichimoku Multi Time Frame Analysis it has given a bullish breakout in hourly time frame and a close above 321 would confirm so in daily time frame also. As long as it sustains above 316 it could continue the uptrend till 350
The Precise 13096 number, 1.27AB = CD Alternate Harmonic!By the observing from left to the right-hand side for AB = CD and 1.27/1.618AB=CD most precise Potential Reversal Zones ( PRZ ) of alternate Harmonic Pattern.
The next important level for, Alternate 1.27AB = CD at 13096 can be used to determine other potential Reversal Points.
1.27 AB = CD 13096
AB = CD was at 12765 and the price slightly crossover it.
1) High Potential to win : (Selling Ran ge of NIFTY)
2) High Potential to win : (Selling level 13086 )
Below Links is my deepest research for you as usual.
SBI buy is possiblesbi break 234.20, its reach 243, 256, 265
otherwise retrace from the 234.20, downside is possible
break the channel its reach 29000 otherwise downsidechannel formation is formed.
break the channel its reach 29000, 29200
otherwise fall its reach 28000, 28200
Reliance- Cracks 3% - Has Wave 4 started? Downside (Top-2093)Not A Trading Call. Just for Educational Purpose
Last Price-2010 / 11:46 Hrs / 11th Nov2020
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Recap
Fall Below 2060/2065 which was updated in the last idea published as mentioned looks like an impulsive Wave-3 down finished the fall from 2310 to 1835 lows.
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Present Day @ 11th Nov2020
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From 2370 Highs - It can be counted as 1-2-3rd wave done at 1835 lows - wave 4 possibly done today @2095 & falling in wave 5 next
Current upside move from 1835 to 2095 retraced close to 50 % can be possible wave-4 done at the tops (not confirmed yet)
Next Support (Don't forget) -1990-2000
Question to ask - Was that Wave 4 done at the tops today or a part of corrective sequence
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Early Snapshot
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