Described in the chart
Explained in the chart
Explained in the chart
HDFC Bank is rife for a correction in a wave iv . Will it be a flat or a triangle . I vouch for a triangle
United Brew is in a multi month post triangle thrust . It has just completed one impulse out of the multi month triangle . Now it is correcting that wave 1 . The red channel should be broken and prices should turn around from the previous wave 4 of one lesser degree around 905 and then go up in a massive wave 3 up which should be breath taking .
Described in the chart .
Some description given in the chart. I call it the Elliott Trend Channel Cross.
Middle line is giving resistance . We nay still be in a wave ((4))
This is just an example . Like many Midcaps this midcap ran a wave 3 from Rs 5(2013) to Rs 409 (2018) . Now it is correcting in a wave iv which should end at Rs 84 , when wave iv breaks the channel of wave iii and ends at a previous wave iv of one lesser degree . Now consider this . If the Elliott Channel is held then the labeling changes . It will augur an...
Right now we may be in an X wave which is looking like a flat . With wave C of the flat pending . It should be impulsive and should hit the upper pink trend channel . And a close above 11080 would signal the end of the correction other wise expect another ziz zag down.
A close below 10550 would put this scenario on shaky ground . In that case we can expect Nifty to correct to below 10400 levels for a wave ii and then resume a wave iii. Correction from 8972 to 7903 in 2016 which was a wave 2 was a simple ziz zag . So by guideline of alteration we should expect a triangle or a combination i.e sideways correction for wave 4 . So...
The base channel was threatened t day . A gap down or a swift break of the channel will confirm the wave b top is in place and we may not see a wxyxz structure . Only a wxy structure . wxyxz structures are rare. So we have a wave (c) on our hands to complete wave ((ii)) . Should end near 10350 levels (1:1) or 10400 levels (1:0.618) . Then we should launch wave...
Play of Elliot channels and Fibonacci . Fibonacci will work only when waves have been properly recognized . Elliott trend channel though a guideline will help in proper wave recognition . Especially wave ii as it is a post basing wave and defines the bse channel which is most important and most confusing .
Described in the chart
All described in the chart
I think today's high completed c of y of b . Wave C has already started . It has given a clear cut 5 wave move for wave 1 . Has completed a wave 2 . Now the wave 3 is starting . Note this can be a wave c of a ziz zag or a triangle . It wave c of a triangle expect to rest at 10455 , which will only be a wave c of a triangle b , means more choppiness for June and...