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LD to start withThe price moved in a 5 wave up. This could be a probable Leading Diagonal of the fresh move that started. Risk Reward looks favourable for buying near the zone and we would look to buy the scrip for at C / 3 up. Invalidation point 453. Lets see how this develops. Please note these are personal views and we are sharing as we find it an interesting idea and may even look into trading. This in no way is a Buy/Sell recommendation. Please consult your financial advisor before taking any decision.
NSE:GUJGASLTD
by riskOmeter
If U want to trade right see leftIt is often said - "History does not repeat, it rhymes" Price is making a rising wedge pattern similar to the earlier one (on the left side). It has also reached the previous resistance. Q - > Will the next move be similar ? A - > Not sure right now, but indications of being extra cautious are popping up as the days go by Indications - 1. The steepness of the rising trendline support - such steep trendlines do not hold for a longer time and normally the support give away 2. Price has developed Bearish divergence with the momentum indicator right at the resistance level So, at least as a trader we need to keep ourselves close to the exit door. Happy Trading !
NSE:ICICIBANK
by riskOmeter
2
NIFTY MAY HAVE OTHER IDEASThe bull run we are witnessing may be wave 4 of the downward rally in Nifty. In that case, we may expect a collapse from here. Currently nifty is trading close to 18100 which corresponds to 0.618 levels of the downward Elliot wave. This level should be a stiff resistance for nifty. Next week market may open with a gap up and can get sold into. Day closing above 18100 will nullify this view. Based on Fibonacci extensions wave 5 can take nifty to 16500 levels by June end.
NSE:NIFTYShort
by Stock-Holmes
6
When all news is good news for a stockAs per the wave personality theory, the best news about a stock comes during 5th wave of some degree. The scrip has been in news lately for various good reasons and every analyst / news channel is covering the same. However, technically - We may be in the 5th wave of rise from Nov 2020 lows of 22/- as marked - On weekly scale, the 5th is almost complete unless it decides to extend by way of sub-divisions - Price is developing negative divergence with momentum indicator What next - in our view - Time to tighten SL. - There is no harm in taking some profits off the table if monthly closing (although its just mid of the month and closing is still far away) is a red bar. Let's see how this develops. Disclaimer - These are our personal views and in no way a Buy or Sell recommendation. Any trade or investment decision if you wish to take, please do after consulting your financial advisor.
S
by riskOmeter
SBI - 1 Hr- Elliott WaveHere is the Elliott wave analysis of SBI on 1 Hr Tf, the following are the inferences. 1. Security is in the downtrend. 2. Wave C is getting completed, major correction is going on. 3. Wave C is generally impulsive in nature, i.e results in sharp correction either time/price-wise. 4. First target already achieved. 5. 2-3 targets marked with fib projections. It might also change direction for an up-move, but that will be a sell-on-rise opportunity until a proper impulse starts upwards. Views are personal, only for educational purposes! Please don't treat this as trading advice.
NSE:SBIN
by KunalSaxena10
My Elliotical Approach to XAUUSD Short.Hello traders! 1. We see 5 distinct waves each with their own seperate qualities as clearly mentioned on the chart. 2. We see and ending diagonal in wave v , which was followed by a swift and sharp wave (A). 3. Wave (A) retraced 61.8% which also happens to be a major resistance of the XAUUSD market on the daily tf. 4. Wave (A) also divides in 5 waves which I have not marked on the chart. This is so, because wave 1 and wave 2 of wave (A) seem to have operlapped a bit with wave 2 retracing close to 100% of wave 1 . This can happen in highly leveraged markets. For those who are new to Elliot Wave Theory, wave 2 should not retarce more than 100% of wave 1. 5. Wave B of a correction consists of 3 waves of which 2 waves are impulsive. B is considered elliotically non-tradable . But it components are impulsive and some part of it can definitely be traded. 6. Important resistance and support zones on the chart also point towards reversal of the XAUUSD market. 7. We do have to wait for the formation of wave 1 and wave 2 of (A) wave for confirmation . 8. Definitive targets and invalidation points will come in existence after confirmation. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:XAUUSDShort
by UnknownUnicorn27677748
2