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Elliott wave counts of USOIL and Fibonacci levels (up, down, up)Hello Friends, here we had shared possible Elliott wave counts of USOIL CRUDEOIL chart on hourly time frame, which is suggesting we are currently in impulse wave of some degree, in which we had completed (i)-(ii)-(iii)-(iv) and now possibly we are unfolding wave (v) of bigger degree wave 1, in this scenario we had seen that wave (iii) has been extended and clearly showing subdivisions inside it and also shown gap up as its nature, so we can assume that wave (v) can go up to equality of wave (i) which is showing price level of near $ 86.75, post completion of it, we can start retracement as a wave 2 in a-b-c pattern, that correction could get support at that same gap which we got gap up in wave (iii) so it can provide good support and as per Fibonacci measurements 50% retracement of entire rally also meets that same level of gap support which is pegged at $ 75.50, which can make that support more stronger. 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. Overall crude oil is looking bullish right now then little down to unfold wave 2 and then again up to unfold wave 3. 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...! Disclaimer. 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.
TVC:USOIL
by RK_Chaarts
Nifty wave analysisNIFTY SPOT HAS MADE A LOW NEAR 16828 ON 20TH MARCH 2023.. will give wave count from this low as follow WAVE 1 : 16828 TO 17207 (379 POINTS) WAVE 2: 17207 TO 16914 (293 POINTS i.e. nearly 77% corrected) NOW WAVE 3 IS ON : 16914 TO 17290 (HIGH TILL NOW) (376 points till now) 1.61 fib level comes near 17527 now wave 3 is on so it will sub divided into mini 5 waves as follows wave 3 started from 16914 wave 3(1) : 16914 to 17049 (135 points) wave 3(2) : 17049 to 16940 (109 points i.e. 80-81% corrected) wave 3(3) : 16940 to 17290 (high till now) (350 points) here 3rd wave has achieved its minimum target of 1.61%.. and got extended to 2.61% near 17290 market buy on dip mode as per wave count... immediate resistance on upside: 17300 & `17500 whereas support on downside : 17050 -17150 views are for educational purpose.
NSE:NIFTYLong
by MDstockmagic
NaturalGas Possible Elliot wave counts (up than down & again up)Hello Friends, here we had shared possible Elliot wave counts of NaturalGas on weekly time frame to daily, 4hourly and hourly time frames which seems aligned with each other, so the conviction increases. Well, on weekly time frame it seems that post impulse move, currently we are unfolding correction which is already at werge of completion, after A,B we are now in wave C, in which we had already done wave 1-2-3-4 of one lower degree, and now possibly we are unfolding wave 5th of C, and in wave 5th we had done wave i of lower degree and possibly we are unfolding wave ii of 5th of C, still wave iii, iv, and v are pending to complete wave 5th of wave C, which should not go below $ 1.529, because its an initial level of bigger degree wave ((1)) and as per wave principals, wave ((2)) should not retrace more than 100% of wave ((1)), so post completion of wave C we can assume that correction to be finish and hopefully fresh impulse up move should start towards north direction for long term. Overall very soon we should start fresh impulse for long term along with invalidation level of $ 1.529 One can wait for dips to complete wave 5th of C of bigger wave ((2)) to grab an opportunities to find best entry to go long, so we should have to ride only in right direction because right direction is always more important and better then speed. 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. Possible wave counts on weekly chart Possible wave counts on daily chart Possible wave counts on 4 hourly chart Possible wave counts on hourly chart 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...! Disclaimer. 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.
NLong
by RK_Chaarts
9
FORCE MOTORS possible Elliot wave countsHere we had shared today possible Elliot wave counts of Force Motors ltd, on daily time frame, as per Elliot wave structure its clearly showing that we are in correction phase after impulse started from bottom of pandemic period of march 2020 and completed wave 1 till swing high of November 2021, well, if this phase was a fresh impulse as a wave 1, then currently we are in correction phase which had been unfolded as a zigzag pattern 5-3-5 subdivisions like (A)-(B) and now possibly we are in wave C, where we can say that of bigger degree wave 2 will be completed along with wave (C), now wave (C) should unfold in 5 subdivisions, in which we had completed wave 1 and now possibly we can retrace wave 2 as a contra trend. currently it may go bit upside as wave (a) - (b) and (c) inside of wave 2, which should not cross high of 1585 levels, and may turn down again to complete wave 3 - 4 and 5 of wave (C) of bigger degree wave 2. On completion of wave 2 one can go long in this with invalidation level of 591 for targets above 1700 - 1800 and more. In both upside and down side invalidation levels are mentioned on chart, if they breaches then we can assume that our study is missing something. Thanks. 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...! Disclaimer. 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.
NSE:FORCEMOT
by RK_Chaarts
10
TESLA Short, Head & Shoulder TOP!$TSLA aka Elon Musk's Tesla CMP= $204.99 Attached: Weekly Price Chart as of 14th October, 2022 - Price has triggered a Head & Shoulder TOP Pattern Breakdown - Tesla still has a PE of 74 which is Overvalued and Expensive compared to Peers and Unsustainable in a FED Tightening Environment Elliot Wave Counts say that a Larger Degree 5 Wave Impulse in Wave 1 has completed from its 2019 Low and Now Price is in Larger Wave 2 down. The normal target for Wave 2 is considered as the 4th wave of lower degree. And in this case it comes to around $130 to $110 as the Target requirement So Price can Half from here literally. SUPER BEARISH, Perfect Short🐻🩸 Downside Targets🎯 are open to in order: T1= 180 T2= 135 T3= 110 Ultimately Tesla may find Support at the $100 round figure mark but will it be the final bottom or just another bear market rally from there will be seen that time
NASDAQ:TSLAShort
by T_Harth
1
MFSL: Equally Poised in either directional movememtThe NSE:MFSL is showing the previous High High (point #3 in chart) or Higher Low (point #4 in the chart) as the range bounded movement. Potentially the move can happen in any direction. But quite likely it will be in upside only as the volume buildup is positive and increasing. Trade : Both sides ( green color price tags for Long, red color price tags for short ) BUY above 712, SL: 705, T: 715/718 SELL below 697, SL: 702, T: 692/689
NSE:MFSL
by pradipandsuvra
Nifty's Short-term Analysis as per EWPAs I said earlier post that could go up max 18300(200% of 1st wave) and could be retraced. Likewise, Nifty had gone up and retraced after breaking the lower channel and 20 SMA. And, Nifty looked like has contained 23.6% of 3rd wave. For details, please visit my previous chart analysis. Now, after correcting 23.6% of the minor 3rd wave, Nifty is moving up. Perhaps correction is over(in the case of extending 3rd wave, its normal to correct 23.6% of the move) If Nifty manages to go higher beyond 18060(reflex point) we expect the Nifty to go up and break the lifetime high of 18600 But, if Nifty comes down and slips 17970, then we may see it coming down to the 17790 level (38.2% of 3rd wave) What do you think about it? Please give your valuable opinion.
NSE:NIFTYLong
by kaushikwbslg
Vedanta for a fall.Vedanta for a fall. In the first long term wave, we are in the second correction of the wave two and if you see the wave, it is in a third wave fall of the 3 sub waves which could be as deep as .618 fib levels as per me. Also, it is now at a triangle resistance at the top of the trend line if you see the dark white line and the volumes have weakened significantly with no buying momentum. The fundamentals are bad with a 61 percent los QoQ. Plus, commodities and interest rates have an inverse relationship because higher interests lead to increased cost of holding and weakens demand. Now with the potential rate hikes on cards, my view of Vedanta is a fall with a target of 253. If we open below the 274 support line, it is a further confirmation. For safety, it can be taken when the triangle breaks down. The metal index also seems to be in the second corrective wave and with rate hikes, a correction seems on the way.
NSE:VEDLShort
by sufficientDog30325
Nifty Wave and wedgeNifty seems to form a 5-3-5 irregular wedge. Sorry for the cluttered chart, but the white waves are corrective and the yellow ones impulsive. We seem to be in wave 4 of the last corrective wave with 18000-18200 levels on cards before we fall further downside. SGX too, interestingly seems to be on a similar trajectory. Another interesting aspect is that the year has seen nifty form a downward wedge pattern. A wedge pattern in many cases is a trend pause, but the breakout side is crucial. Now, over the past few weeks, another mini downward wedge seems to be forming. After the current bull run, if the wedge trend line is respected, we could see a fall to 16400-16800 levels. A break upside in the next few days would mean a breakout, but it could be unlikely considering the impending rate hikes due. With global rate hikes, inflation and a possible recession, the downward movement seems likely. Three possible routes for nifty could be a breakout now which could lead it upto 20000-21000 which is unlikely. If not, it could test the 16400-800 area of the mini wedge formed and then do a bull run depending on how inflation and rate hikes easen on account of macroeconomic policies. If that is broken, then the downside of the bigger wedge could be 13300-14500. This would mean a crash. In 2008 and during covid, nifty corrected more than 50 percent. So, ideally, this correction isn't even that huge if it comes. All of this depends on global economic conditions over the next year. I could be wrong in all my views and we could see nifty behave in a totally different way, but this is my view. Traders can mark the upside of the wedge and wait to see if it is respected and we fall back down or if we breakout to go for their own setups.
NSE:NIFTYShort
by sufficientDog30325
BankNifty-Twist & Turn-Will it die on Euphoria? Island ReversalDisclaimer: This is not an Investment Advice. Trading leveraged products carries a high degree of risk and you could lose more than your initial deposit. "Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell." -John Templeton What Is an Island Reversal? An island reversal is a price pattern indicating grouping of days on either side by gaps in the price action. This price pattern occurs when two different gaps isolate a cluster of trading days. Pattern usually indicates reversal in trend - which can be short term or long term. Check the charts 7th Sep 2022 Gap down opening as shown in circle shape & 8th Sep 2022 - Possible Gap up opening in next trading session Check the Snapshot / Image - Island Reversal Pattern Try to relate with the current chart of BankNifty. Check yourself where are you in the chart & what could you expect if something similar has to repeat. Thanks for reading
NSE:BANKNIFTYEducation
by WaveTalks
9