SolomonsView

SolomonsView

Nifty's 1000 point fall from 11794 can be interpreted as shown above. If the expected upswing is corrective in nature we should have a large selloff post that. This could be an opportunity to build short positions. We'll watch the structure to get a view Alternate wave count : see below in Green - this should be and A-B- C correction as well but this view is...

SolomonsView Updated 

The sideways action in GOLD is not a Wave 4 triangle as assumed earlier. A Wave 4 triangle should have resulted in a swift move up, this has not been the case. This is turning out to be a Wave B triangle , so a Wave C to the downside is the next expected move.

SolomonsView

#MCXCRUDE should head down below recent lows in wave C as part of the correction following the break out from the ending diagonal.

SolomonsView Updated 

#Nifty has charted a leading diagonal and should surge up in a corrective rally for next few days - largely led by reliance which is expected to burst up from Wave 4 triangle to complete its last leg of the rally as a market leader since Mar '20 The Medium term picture points to a large fall post this rally.

SolomonsView Updated 

Silver seems to be completed wave B of the correction and sported wave 1 of C. Silver should accelerate to 23 soon

SolomonsView

Silver seems to have completed its wave 4 correction, Wave C (circle) being slightly greater than Wave A (circle). This means Silver should rally to new highs in the near future.

SolomonsView

Silver seems to have completed its 5 wave fall and should settle at this level or slightly lower before it moves up from the current levels. We are near the end of wave 4 at a primary degree and should move to new highs if it gets support at these levels

SolomonsView

Muthoot Fin has broken below the neckline, this should not head towards the 700 area in a few weeks/months

SolomonsView

What we saw today is the last subwave v of the first leg (wave1) of the downward move. This should terminate a few hundred points lower and start a wave 2 correction and then the really rapid acceleration down in wave 3 which will "surprise" everyone. The story is clear - the trend has turned. We should expect new lows in this index and then it should reconcile...

SolomonsView

Check the earlier update today, #BANKNIFTY danced to the waves and sunk. Should have a several hundred point down still to go. Racing down in Wave 5

SolomonsView

#Muthootfin #muthootfinance is a good candidate to observe how a Head and shoulders top should turn out. Watch for a crack of the horizontal support line to get in and ride until the target

SolomonsView

With the correction in #Banknifty extending, it shaping up to be a wave 4 triangle. This should mean a sharp downward thrust in the coming hours

SolomonsView Updated 

Gold has broken out of the 4th wave triangle and is heading in an impulsive 5 waves to new highs

SolomonsView

#Banknifty seems to have completed a 5 wave down move. Expect a corrective rally to the 23300-500 range in the early part of next week. That will be a potential sell range for a longterm short position. Will provide an update here as the #elliotwave structure is clear.

SolomonsView

HDFCLIFE seems to be breaking out of the WAve B and should head upward in a C wave rally to complete the upward correction. This will end the W-X-Y pattern. The risk level is indicated. Seems to be a good Risk Reward trade #HDFCLIFE #NIFTY #INSURANCE

SolomonsView Updated 

Crudeoil sports clear 5 waves with wave 5 taking the form of a diagonal triangle. Crudeoil should head down for a few weeks to months.

SolomonsView

A clear W-X-Y correction seems complete, the downward trend should pickup speed now to new lows in the coming months

SolomonsView

Here is a fully labelled chart of the nifty with internal wave counts. If this count plays out, its going to be a nightmarish months ahead . Get ready for several gap down opens and wild swings