1. The trend is still intact as of now .
2. We are experiencing a wave iv correction as per Elliott Wave
3. As per Kihon Suchi time cycle (Ichimoku} we should expect a low on 04/05 March. These dates are very crucial.
Till then watch and enjoy .
A double failure flat : When wave B of a flat is between 61.8 - 100% of wave A and wave C does not completely retrace wave B . Its a counter trend strength. The structure is 3-3-5. If the structure becomes 3-3-3 then it starts becoming a triangle .
For both these structures key is upper break of the 0-B trendline, which is shown in the chat .
So watch out who...
The triangle may end in 1st week of Apr at about 2250 and by June price should hit 3000. Lets see. But at present till end of March it may offer treacherous trading opportunities . This is, if the contracting trendlines are not breached . At present neutral.
Consolidating in wave iv of one or two lesser degrees. I have shown wave iv of two lesser degrees. Most probably a triangle is forming . We need to wait for the break out of the down sloping red trendline . The best indicator to see resolution of consolidation is daily Ichimoku chart . Buy only when gold cross of Kinko Hyo happens . Meanwhile put the stock on watchlist.
Concor may be looking forward to a powerful wave 3 as per Elliott after the upper trend channel is broken upwards.
In such a condition if Ichimoku confirms probabilities increase . Use daily chart here . The daily chart will let you take profits when the scrip hits resistance levels at weekly and monthly charts and will also give you a chance to re enter. In...
Bank Nifty would be completing wave ((ii)) a big flat 3 - 3- 5 structure . The 5th of the 5th of wave C of the flat may be near completion . It seems to be a good buy chance . But it should not break the blue support line . Regards
Bank Nifty should be moving up this week . If not then we have to look at the alt bearish count at the break of the support line if it is broken by a strong impulsive fall. So its time to stay neutral and wait . The (c) wave count is critical. Regards
Its is above the cloud but span A and B are flat . As per Elliott wave trend channel is along the cloud. It seems to be a wave 4 correction. If trend channel along with the cloud are breached it may be a long flat correction down . Use Price action to trade it. Regards.
As long as price remains below the Ichimoku forecast lines we my be running a B Elliott wave . If the forecast lines are crossed up then a more aggressive Elliot wave count will come into play . Regards