AJAYSHARMA

AJAYSHARMA

Wave (b) in form of an abc flat . wave c of the flat looks like an impulse also most complete . Evidence will come when we see a distinct five wave move down in form of an impulse or an LD . Till then become position less.

AJAYSHARMA

Most probably Nifty is about to complete pull back (b) . (b) seems to be in form of an abc flat corrective structure in which wave c is a strong impulse Right now considering alteration we may in wave 4 of the impulse c and if alteration is not considered we may be in wave 4 of 5 of c. The structure will clarify itself in the coming week . But its a topping ot...

AJAYSHARMA

Elliott says wave 2 is deep as folks say old trend is still there and there is another shorting opp but the stock does not break the previous low but retraces 78.6 %.

AJAYSHARMA

I think this is an expanded flat at work here .

AJAYSHARMA

Made a multi year triangle in wave 4 and has a sharp wave 5 post triangle thrust. Signals end of a multi year trend . Hence the brutal fall which may end at 600 which is the previous wave 4 of one lesser degree.

AJAYSHARMA

All channels have be comprehensively broken . This count is just a whisker away from being a 12345 to an ABC . ABC means the company would be in serious distress , Just see this chart on aritmetic scale.This is the midcap story.

AJAYSHARMA

Always need to be careful when 5 waves of a midcap/small cap stocks are complete or for any other stock . In good stocks there will always be wave extensions for eg HUL / HDFC Bank etc . and these will be difficult to count . So in brief it u see a stock where u can count 5 waves clearly over lets sat 5-7 years that stock is doomed .

AJAYSHARMA

All describes in the chart .

AJAYSHARMA

I think its a complex flat wave A (ziz zag) , wave B (flat) - wave C (5 wave move running)

AJAYSHARMA

It seems ICICI Bank is in a cycle wave III. It may be the next hero of the market . But Nifty is a ? right now .

AJAYSHARMA

Described in the chart

AJAYSHARMA

Described in the chart .

AJAYSHARMA

Described in the chart

AJAYSHARMA

All described in the chart .

AJAYSHARMA

FALL WAS NO SURPRISE FOR ELLIOTT WAVERS . BLUE TEND CHANNEL - JOIN WAVE 2 AND 4 AND DRAW A PARALLEL TO THE TOP OF WAVE 1 . THIS IS SOP WHEN WAVE 3 HAS GONE TOO FAR. SEE HOW THE PRICE ACTION FITS IN THE CHANNEL PERFECTLY . SEE THE FIB RET OF 50 REACHES WAVE 4 OF 2 PREVIOUS DEGREES, A CONTRACTING ENDING DIAGONAL AS WAVE 5 OF 3 COMPOUNDED THE VIOLENCE OF THE MOVE .

AJAYSHARMA

The wave pattern can be disputed . Lets dispute and learn more .

AJAYSHARMA

We need to see how the pattern emerges . But I feel its no longer a growth stock . It seems like a trading stock with a downward bias.

AJAYSHARMA

Explained in the chart .