1. wave count spotted
2. wave 4 (3 wave correction) finished with a bullish divergence (23.6% of the extended wave 3)
3. high probable impulse wave 5
4. once it breaks out of the channel - confirmed
Weekly chart:
Upcoming wave is impulsive wave and target is 577 nearby after up breakout.
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Let's check Breakout more closer look.
While breakout the price Congestion, volume should more than 2x from average volume.
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The bhartiartl in...
BankNifty after a smart rally is not under a correction of that rally and would correct 50 to 61.8% fib levels which would complete Wave A and Wave B and a rally further towards 24000 is possible for Wave C to complete the zigzag correction after which we shall see another big fall which will be at least equal to the first fall if not more...
Happy Trading!
NIFTY FOURTH WAVE MIGHT BE COMPLETED AT YESTERDAYS LOW. WAVE FOUR WITH ABC CORRECTION PATTERN WHERE C= 4.5* A. HIGHLY EXTENDED.
LARGER WAVE THIRD ENDED AT 12430 WITH FIVE WAVE STRUCTURE INCLUDING ENDING DIAGONAL IN INNER FIFTH WAVE. LET US SEE HOW NEXT PATTERN DEVELOP.
Index has formed a bullish Wolfe wave and it seems to be in action right now. Which offers a good Risk to Reward of above 3.5 at current level.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:LUPIN - LUPIN has formed good setup Bullish Wolfe Wave and trades can be taken keeping minimum risk.
One can keep SL as 725 for Target range 800 to 820
Technical analysis:
. Waves/Ethereum is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00550 to 0.00425). if so, traders can set orders based on Price Action...
Using Elliott Wave theory, just a small prediction for next month, this is for my self and if this works, its fine and if don't, then i need to learn more from market.
Technical analysis:
. Waves/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.7760 to 0.5160). if so, traders can set orders based on Price Action...
Though I predicted earlier 31000 as bottom of wave (IV), had I not missed the ending diagonal of lower degree of wave v (marked as a wedge) of wave (IV) in lower TF, I wold have predicted end of wave (IV) correctly. The power of ending diagonal is evident from the 1000 point movement in a span of 2 days and less than an hour.
Wave (V) will be formed in 3...
When I posted a chart on YESBANK on 17-11-19, the price was 68.70.
I said that YESBANK will form triple bottom. Now it has came all the way down to 40 to find the second bottom. CMP - 43.55. The stock price is not yet out of woods. Chances for some 3 rupees up (47) and then 8 to 10 rupees down(36-38). If it goes up from this level or after finding bottom at around...
