This stock is a very crucial point ie. RAS( Resistance acting as support). And in mid term it has formed a Wolfe Wave, the wave counting has been mentioned in the chart. 5th wave may get initiated soon.
The completion of 3rd wave and initiation of 4th wave has been confirmed at 1.618 Retracement level .
However the completion of 4th wave and Initiation of 5th Wave...
A Wolfe Wave has been spotted. A proper reversal at this point can move the stock upside to 780 - 840.
One can wait for reversal sign before taking entry or they can enter now with strict SL of below 725 on closing basis.
Chart & Analysis - ADARSH DEY
Expecting good upmove in counter from current levels
bullish study,, indicator are giving signs of trend reversal
atleast 5-7% upmove expected
Good long candidate
A wolfe wave has been spotted in Weekly Time Frame. After the covid fall the Wolfe wave has already activated.
Currently the stock is forming its 2nd Wave. The 3rd wave is yet to be initiated. Hopefully it will take a support from this level to 911 and initiate the 3rd wave. So it's a accumulation zone. One can accumulate from here or after getting a reversal....
Voltas wolf wave formation with positive divergence on RSI and MACD,, MACD on verge to give positive cross over,,
Counter can give 7 to 10 % up movee
Good long candidate,,,,
Wolfe wave analysis - Bearish wave
if candle close above 810, then the pattern fail.
risk to reward favour short, clean sell setup with strict stop loss
Apart from Wolfe bearish wave, I can find out completion of Elliott impulse wave 5 (last bullish wave) I expect Elliott corrective wave occur soon in the ABC pattern
will enter short with confirmation - 30mins...
Adani Transmission Limited
hourly sell near 296 small stoploss 301 takeprofit 286
Disclaimer: The chart provided is only for educational purpose and not a trading recommendation. Consult your financial advisor before taking the trad
NSE:IRB is forming Wolfe wave Bullish pattern.
With Stop of 95 stock can be accumulated for target range around 145-150
Knowing election result is on the way. Stop Loss is must have.
Silver looks to have formed bullish Wolfe Pattern on daily chart. Breakout has already taken place. Silver should touch $15.65 by ETA of 13th May 2019 (converging point of wedge). Wave 1 took 11 days , wave 2 took 11 days, wave 3 is much shorter and took 4 days (aberration), Wave 4 took 10 days. If we go for symmetry then we won't find as Point 1 to 3 took 22 days...
