AJAYSHARMA

AJAYSHARMA

Nifty seems to be ending w-x-y a complex correction . In wave y , Wave C seems to be forming and expanding diagonal . Wave 5 of an expanding diagonal always exceeds the end of wave 3 and Since this is also an Ending diagonal all internal waves should be 3's and wave 4 overlaps wave 1, So 9370 will be broken . But if the labeling is correct then there should be...

AJAYSHARMA

Ultratech is an a long term uptrend . So investors need not worry . But for us traders there is an opportunity make money on the short side . This is a text book perfect wave . The Elliott Channel 1. The move that started in Dec/2016 at 3060 ended at 4531. It was a five wave impulse move . Elliott channel technique says connect end of wave 1 and 2 and draw...

AJAYSHARMA

Inox wind may go down . It just formed a flat 4 wave ((ii)) . But it was just a corrective structure . Most interesting is the start of the entire wave structure . The small waves at the top . The future of the baby is seen from the cradle.

AJAYSHARMA

It has given 5 moves up at primary level . So it completed cycle wave I . It is in a cycle wave II . Elliott says minimum correction level is the sub wave 4 . So Dr. Reddys should come down to 2200 . Only then it is a buy . But for an X wave or an impulse . We dont know. See top of the ((B)) . RSI top was at bear zone resistance . Wave (5)) had a bearish...

AJAYSHARMA

Elliott Rule Wave 2 can never go beyond the start if wave 1. Here the start of micro wave 1 is 9370 . Which according to my labelling is the 1st wave of submimutte wave 3 . So if 9370 is not taken out it may be a very long move . If 9370 is taken out then re labelling would be required . Elliott guideline : Wave 2 is a deep wave , which is what we see here...

AJAYSHARMA

Caveat The labelling should have been at least one degree higher . As I ran out of labels in the last five wave move . But anyway it tells the overall movement. Elliot guidelines used 1. Correction will reach minimum of wave 4 of one lesser degree especially if it a wave 4 correction at a higher degree. 2. If wave 5 is an ED diagonal . The move will be swift and...

AJAYSHARMA

The low of 747 was actually an end of wave (a) and Cummins was going up in a wave (b) . It seems to be a good short for June futures . It seems the double zig zag has ended as the channel to the down side was broken tday and the move was impulsive. There can also be a third zig zag but that would be rare . Even if the 3rd zig zag is there the move is corrective...

AJAYSHARMA Updated 

Running C in ABC (degree sub micro) . C should end at 1:1 A extended from B Then look for the following 1. Full complete 5 wave impulse for sub micro C . At present we might have completed 3 waves . So 4 and 5 are still left . 2. RSI divergence 3. A Bullish candle stick pattern . Morning / doji star , hammer or an Engulfing pattern . Best would a...

AJAYSHARMA

IF ONGC has completed a flat for Primary 2 . Just Imagine where primary 3 will end. Right now we need to correct as a 5 wave move is over 2 160 around .

AJAYSHARMA

Its got a long way to go. Stepping up from a leading diagonal since 2010 to 2016 .

AJAYSHARMA

Going down in intermediary wave (4). Long term short for a minimum of 913

AJAYSHARMA

This stock is going higher in the long term . In short term it is going down .

AJAYSHARMA

Wave (iv) correction should bottom out in the vicinity of iv . between 150 - 153. Question is ,is y completed zig - zag ?

AJAYSHARMA Updated 

IOC has run a lot . If Intermediary (3) is ending it will correct to minimum Rs 405 and more. Now the great puzzle is, is the wave v - circled in minor 5 extending . There are two points 1. RSI is equal at iii and v- circled . iii should have the highest RSI. 2. Although volume is not more than in iii or (iii) . But is rising in v - circled. 3. Wave iii -...

AJAYSHARMA

Its a very risky trade . Yes Bank is already in a 5th wave at the higher degree within wave 3 of a higher degree. I have taken the last part of the price action . One should wait for Wave 4 circled to be completed at 1603 only then long for wave 5 circled . Some confirmation at wave 4 bottom should be there like RSI divergence , Hammer , Doji or a morning star ....

AJAYSHARMA

PFC is an extended 5th wave . There is higher volume in wave 5 and a couple of expanded flats. Wave ((v)) should end at 197 . Very short term target is 158.56 should end with wave 3 and (3) . The current minuscule wave 4 should correct the stock to 150 . but should not go below 148.50 . So buy at around 150 with a stop loss of Rs 148 and a target of 158.