Murthy_Santhosh

Murthy_Santhosh

Looks like the 4th has ended and the new impulse for the 5th has started.. Since this is 1st of 5th, the retracement could very well be deeper.. Waiting for the Wave 2 pullback.. Note: This is a weekly chart I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment...

Murthy_Santhosh

The set up looks too good for the coming weeks.. Waiting for it to close inside the black trendline first. The Wolfe Wave set up seems to be in play on this counter too.. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to...

Murthy_Santhosh

CMP: 91.7 Similar to DLF, a concrete Wolfe Wave formation is seen here as well. Falling Trendline could be the next hurdle and the 102 horizontal zone/also happens to be the target range based on WW structure.. A 10% move is on the cards.. Key Observations: - Looks to be a strong breakout from the Regression Channel. But the falling trendline intersection at...

Murthy_Santhosh

The wedge will look complete with the final touchdown to the green trendline connecting the lows.. Getting rejected at the $68 mark, happens to be strong resistance (trendline and supply zone). Let’s see how the price unfolds in the coming sessions

Murthy_Santhosh

Price seem to have completed 5 wave upmove from 2023 lows. Ending pattern is seen at the highs.. with strong supply candles It has Achieved and getting rejected at the 1.618 The trend termination confirmation will be only after breaking the 2-4 trendline.. that is somewhere around 2000-2050.. Daily Close above 2220 could jeopardize this view (but the view...

Murthy_Santhosh

Chart is self explanatory.. This pattern works most of the times.. See what happened with Reliance before..

Murthy_Santhosh Updated 

TF: Daily Looks like 5th wave is in progress 4th Triangle seems to have matured.. Harmonic Bullish Shark Pattern seems to be in play DEATH CROSS is seen (50 DEMA Cutting Down 200 DEMA) Price is getting rejected at the cloud bottom But 5th being 5th, we cant exactly predict the bottom here.. it could terminate anywhere below previous low.. Trail SL...

Murthy_Santhosh

Hindalco has been facing resistance at 700-720 zones throughout last year.. I have marked the past price points for your reference. This should give a clear view/direction as compared being a BLIND BULL aiming for ATH or vice versa. The Harmonic Pattern (Shark) seems to have matured and it is now at the PRZ

Murthy_Santhosh

A Low risk set up in this sector. SL can be a break below last week's low (the invalidation point for this 4th wave down is 29304, and the price has reversed from 29313) Perfect set up for longs on this counter.. Channel Bottom Closed above previous week's high First bounce (FEB 2nd week) was sold in to.. and this is second bounce.. So ideally, strength should...

Murthy_Santhosh

TF: Daily This looks like the darling of Elliott Wave Practitioners. It has all the possible corrective patterns Be it ABC, WXY, abcde and 12345 Diagonals at the top and the bottom.. Impulse waves in the middle.. you cant ask for more Long story short - a touch down at the lower trendline (black) to complete the diagonal is due... In principle, The E point...

Murthy_Santhosh Updated 

TF: Daily Looks like 5 wave impulse is complete (Blue) Subwaves within each of the motive waves are marked in black 5th being Diagonal abcde Awaiting breakout confirmation (the falling trendline - Red)

Murthy_Santhosh

The harmonic levels are derived based on fib levels. price action wise, resistance and support are marked.. price is back inside the range.. 200 period EMA on hourly needs to be taken out decisively for further momentum/upmove. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for...

Murthy_Santhosh Updated 

CMP: 141 Price is at the confluence zone (Previous resistance turning support / Breakout retest) Price is at the buyer zone (from 142 to 198 it had a non-stop rally) Divergence seen on Daily. Double bottom support at AVWAP from 2023 lows Wave 4 got over at 136.. a breach below 136 would alter the view.. So the SL is only 6 points

Murthy_Santhosh Updated 

The script has completed i of 5 and ii of 5. This third wave up (of the 5th) is poised to go past 1100.. SL is hourly close below 942 for now. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective...

Murthy_Santhosh Updated 

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 

NIFTY at 23100 - What's ahead - Analysis on Multiple parameters For the short term, price is most likely to hit 22800. Significance of the mother candle formed on 22nd Nov 600 points range bar it was. When it broke out on the upper boundary from the range, it has retested and then moved 900 points on the upside.. while technical target is 600 points...

Murthy_Santhosh Updated 

Getting rejected at the 200 Period EMA on Hourly (50 EMA on Daily). No long trades until and unless we close and sustaining above this level decisively (at least 2 60 minutes candles) On Daily TF, ending formation is seen at the top.. A decent pullback can't be ruled out. On larger TF, price seem to have one more leg up on the upside to complete the 5th.....

Murthy_Santhosh Updated 

Daily chart with internal counts is shared here.. Looks like the impulse 5 wave move is complete now. A pullback to 1500 is on the cards. I believe that the price is still in it's 3rd wave (Primary count) On Weekly TF. But will wait for the specific levels to confirm.. Here is the chart on weekly counts. I am not a SEBI registered Analyst. Views are personal...