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Wolfwaves

Tata motors case studyTata motors spot cmp 590 weekly time frame Wolf wave study Bearish wolf wave formation Counter is in overbouht zone as per structure, trading above the resistance line. Previous life time high levels at 600, Bearish divergence on RSI, with respect to price. counter is facing price rejection around 600 levels, which act as resistance as per previous life high levels. Bullish only above 610 on weekly closing basis, Till counter is below this levels , possibility of 50-70 point down side is higher. Further view can be taken once counter gives weekly close below 535 levels. Bulls time to cautious, bears at door step.
NSE:TATAMOTORS
by RUDRA007
3
Axis bank case studyAxis bank spot cmp 985 Weekly time frame Wolf wave + elliot wave study. Elliot wave :- counter is trading in sub wave (v) of major wave 5 , where after motive phase gets terminated. Price wise levels of 1015-1035 would act as a range where wave (v) could mature. Ascending trend line resistance of wedge structure confluence around same levels. Rsi in this last move have given bearish divergence. Wolf wave :- on smaller time consideration wolf wave formation is being observed , which would mature around 1020-1040 levels. around 2-3 major studies maturing around same range, on weekly time frame, so going ahead counter would lots of selling pressure around this levels, fresh long should only be considered above 1050 levels on weekly closing basis. below that caution is required any time counter can slide to much lower levels. Bulls keep caution ahead,,
NSE:AXISBANK
by RUDRA007
NIFTY OUTLOOK- Oct 9th 2022 the low making date for NIFTY was mentioned as 13 or 14th OCt 2022. The low was made on 13th Oct and NIFTY resumed upside. - The target for the upside rally was mentioned approximately 18900 on 24th Oct 2022. - Nifty achieved a high of 18887 on 1st Dec 2022 (Just 13pts away) Currently we can see a completion of 55 Days time cycle and a small reversal( which is not confirmed yet) where nifty generally reverses for a intermediate bottom formation. Moreover NIFTY is a Fibo level 1.618 of the downside rally during Sept month . So the scenario we can expect if 18900 level is not taken out is the target remains to be 18181 . A second confirmation can also be drawn from S&P_500 where it is in a Wolfe Wave but near 2-4 Tl (taken as a resistance most of the times). This adds on to the probability for the NIFTY for a small correction if the global markets turns hawkish only for a small time being. The chart of S&P_500 has been given below : Link to Oct 9th 2022 study mentioning low making date for NIFTY was mentioned as 13 or 14th OCt 2022: Link to 24th Oct 2022 study mentioning target for the upside rally was mentioned approximately 18900 : CHART & ANALYSIS - ADARSH DEY
NSE:NIFTY
by AdarshDey
INFOSYS case studyINFOSYS AT 1590 levels is around strong supply zone, Descending parallel channel resistance around 1610 levels Horizontal resistance around 1602 to 1630 as per previous swing high levels, Bearish divergence on RSI with respect to price, Bearish wolf wave formation, where price are trading above the structure formation which indicate overbought situation , counter might face strong resistance in zone of 1600-1630 levels , which should be used to exit long position if any, now fresh investment in this counter above 1670 levels on daily closing basis Down side counter can give retracement till levels of 1500-1480 once reversal is confirmed. Time to be cautious in this counter.
NSE:INFY
by RUDRA007
Canara bank spot cmp 306Canara bank started its upmove from levels of 80 and now it trading around levels of 310 almost have given a rally of 4times in last 2 years Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels, in last one week counter is consolidating in range 303-315 levels and now able to sustain higher, Wolf wave formation is observed from the low of 2020 to till date and counter is overbought as per the structure of wedge, 5th wave of wolf wave is almost matured and waiting for reversal confirmation, any weekly bearish candle formation would lead to confirmation of trend reversal in counter, Bearish divergence on RSI is observed on weekly time frame, price wise reversal can be seen on weekly candle closing below 301 levels, Its time to book your investment on this counter , fresh investment is only suggested above 331 levels on weekly closing basis, any reversal confirmation leads to levels of 260-220 levels,, Time to be cautious on this counter.
NSE:CANBK
by RUDRA007