Murthy_Santhosh

Murthy_Santhosh

Bull Case: 1. Rounding Bottom Breakout is in progress, pattern target is 2500+ 2, Price is making HH/HH. Hasn't been impacted much during the market correction 3. Made a strong base at around 1500-1700 and have been moving up strongly. Dips are being bought Bear Case: Price is getting rejected at the 1.618% fib extension of the IPO base range. Usually...

Murthy_Santhosh Updated 

CMP: 3095 While combining EW with technical patterns, the general guideline is that Wave 3 must breakout above the 0-1-2 channel Wave 4 must take support at the 0-1-2 channel top or at the midpoint In this chart, price complied both the technical requirements for wave 3 (breakout and runaway).. and then retest the channel top to complete the 4th. More details...

Murthy_Santhosh Updated 

Topping out formation seen on Smaller TF. On daily/Weekly TF, price is in the 5th wave (or even 5th wave is complete) but on Smaller TF, looks like one more high or equal high is pending.. as they say, Do not trust the 5th wave.. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor...

Murthy_Santhosh

On houry TF, the price broke down from the cloud and in today's (27th Dec) first hour upmove, price hit the cloud top and seen strong supply/rejection from there. It hasnt given the short signal yet, but on watchlist. On daily, looks like the last leg of rise is a throwover move on the upside. Waiting for the price to come inside the wedge for confirmation

Murthy_Santhosh Updated 

CMP: 865 Price made 5 wave impulse from 744 to 880+ and is showing signs of profit booking. If this view to play out, we are expecting a dip towards 830 and 800 (50& to 61.8% fib levels respectively). Remember, this is going to be a ABC corretion, so wait for the A and B to play out for confirmation and then take the C leg down trade.. Or else, wait for the...

Murthy_Santhosh Updated 

Which GAP will be filled first? For now, price did an ABC corrective rise to resist at 100% extension.

Murthy_Santhosh Updated 

CMP: 1835 Base Breakout seen in shorter TF. But on Daily TF, price is at the 200DEMA. A decisive breakout above 1850 could provide thrust on the short term. Previous price pattern suggests that either the price move directly from here OR one more low to test the rising trendline at the bottom. Currently in watchlist, awaiting confirmation. I reiterate, my...

Murthy_Santhosh Updated 

CMP: 4660 It broke the swing high at 4680 and opened gates for 4900-5000 levels. But, the current price looks overstretched and the price is rejecting strongly from the supply zone. On EW counts, 3 appears to be complete and 4th in play. The ideal targets for the 4th marked in the chart (30-50% retracement from wave 2 lows at 4440-4340). A break below 4640...

Murthy_Santhosh Updated 

Range and the target level all are marked in the chart. 380 is the ideal pattern target.. lets see how the price action unfolds. Since this is hourly chart, wait for hourly close below the range for confirmation.. There could be attempt of retest of the range low as well. I am not a SEBI registered Analyst. Views are personal and for educational purpose only....

Murthy_Santhosh Updated 

CHOLAFIN - CMP 1280 Primary count (Blue) suggests that the 5 wave impulse from Covid Lows seems to have ended (from 120 to 1650) The correction could stretch up to 0.618 or 100% of the 4th wave lows.. Price has decisively broken 200 DEMA.. I am expecting this to test 1000 levels in the coming days.. There is also an unfilled GAP at 900 levels.. if we are lucky,...

Murthy_Santhosh Updated 

CHOLAFIN CMP 1403 Trendline break.. lets see if the AVWAP offers any support.. but my bias is on the downside only

Murthy_Santhosh

NYKAA is trading between the POC levels (230 and 150), volume profile and POC lines are marked in the chart. Trendline break and range breakdown is visible. Ideally, price should take support at the lower range POC at 147.. Lets see how the pricing unfolds. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult...

Murthy_Santhosh Updated 

CMP: 6530 MCX is one of the best stocks I have come across in recent times to study/practise EW counts. Such a wonderful set up with multiple sub-divisions playing out perfectly. The chart published here is the 5 wave impulse from 2917 levels. We are at the final 5th and this can either extend or terminate anytime depends on the market conditions. Since the...

Murthy_Santhosh

The confluence zone is 115-120 levels - Rising Trendline - Breakout Retest (Horizontal) - Fib retracement level of 0.5 to 0.618% - Deep Crab pattern completion target range As long as 113 is not breached, Price could take support beween 115-120 and resume the uptrend. I am not a SEBI registered Analyst. Views are personal and for educational purpose only....

Murthy_Santhosh

Looks like the corrective pattern C LEG is playing out within the channel. Wave counts and the subwaves counts are marked in the chart in hourly TF 200 HEMA will act as a resistance and also best zone to enter in to shorts (for a good RR set up) I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your...

Murthy_Santhosh Updated 

CMP: 2055 Price is at Falling trendline resistance - Attempting breakout Two possibilities exists in Harmonic Pattern/Structure. BAT and CRAB If it is a BAT, then price would reverse from 2100 levels If it is a CRAB, then, this move will extend and continue till 2450 levels. For this to happen, price must break above 2160 Ideally, some sort of profit...

Murthy_Santhosh

The last time (2022), when the price broke out of the 1377 range, it exactly hit the 1.618% extension at 1697 and reversed to 1250-1350 levels. This time also, it is showing reversal/topping out signs again at the 1.618% fib extension of the 1697 breakout. Also, the Rounding bottom pattern target is done on the upside. Will it go down to 1600 levels this...

Murthy_Santhosh

I have tried to place both the chart set ups in same screen.. Both had a decent rally followed by sideways consolidation Apollo Hospital Brokeout and moving high.. Next Petronet is in line.. Petronet is coming out of the falling trendline.. Good scripts for watch for Jan Series I am not a SEBI registered Analyst. Views are personal and for educational...