Stock-Holmes

Stock-Holmes

Dear friends, As we see in the chart, Nifty is correcting rapidly from an all time high level. While counting the Elliot waves, we can see that waves 1 and 3 on the downside have been completed. The five waves of wave 3 are shown in the chart. Now we can expect wave 4, which is likely to consolidate for a few days. Wave 4 is likely to have moves on either...

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Indian markets are at an all-time high. Both Nifty and Bank Nifty are trading near their resistance levels. Technically, a correction is due. I'm not expecting any big upside move in Indian indices. I won't be surprised if Bank nifty corrects by 3000 points in the coming days. This would correspond to the length of wave 3 as well as 0.618 Fibonacci...

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DLF has come out of 7 months of consolidation and has broken the resistance trendline. A decent upmove of about 25% is expected over the next 2 to 3 months. Stoploss below the trendline.

Stock-Holmes Updated 

The stock price has been consolidating for quite some time. Technically, by the Elliot wave pattern, the 5th wave is likely to begin, and one can expect about a 30 to 35% rally in this stock. Safe entry will be above the resistance trendline, though the current level looks attractive for investment purposes.

Stock-Holmes Updated 

Guys... I am sharing my analysis of Nifty over a longer time frame. The Elliot waves are marked on the chart. Nifty is currently in the wave 3 of the primary cycle. This primary cycle runs in smaller intermediate waves. Wave 1 started on April 2023; Wave 3 from November 2023; Expecting wave 4 to end by April 2024, and we can expect wave 5 to begin from May...

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Refex industries- A top-performing small-cap stock in the commodity chemical sector. PE ratio: 13.9; ROE & ROCE > 40. A pennant pattern breakout can be seen in the day chart. The stock price has also taken support at the 200ema. A follow-up green candle will confirm the uptrend. One can buy and hold the stock after confirming the breakout. My stop loss...

Stock-Holmes

The 5th primary Elliott Wave, which began after the decline following the election results, is continuing its upward movement towards the 26,000 mark. The secondary waves 1 to 4 (within the primary wave 5) have already been completed, and wave 5 is expected to resume its upward trend soon. This progression can be clearly seen in the chart. I am optimistic about...

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In recent days, we witnessed a decent fall in bank nifty. Thanks to the Elliot waves, we could make some decent profits in the market. I trust you've also been able to capitalize on these market movements. Looking ahead, I'd like to share my perspective on the possible market movement based on Elliot waves. I presume wave 3 is likely to end soon on the...

Stock-Holmes Updated 

I sincerely appreciate all the support thus far! Here are my insights on the Bank Nifty through Elliot Waves. CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades. We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The...

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We witnessed a 650 points fall in bank nifty, but it didn't reach the target levels predicted. Today's fall could be the Vth wave of wave 3. The day ended with wave 4. So, over one or two days, we should see a more significant fall in wave 5, taking the index to the support levels (45815 & 45660). The wave numbering is shown in the charts. The wave counting...

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As per Elliot's wave pattern on the downside, Bank nifty is currently moving in the 4th wave. The structure formed is one of the classical patterns of wave 4 - A horizontal flat. We have had enough volatility recently (again, a classic of wave 4), and now it looks like the final leg of wave 4 is ongoing. We could see a resistance trendline from which Bank...

Stock-Holmes

21830 remains a stiff resistance for NIFTY. After a good bull run, I expect a decent correction in our markets. The euphoria attached to Ayodhya and the Budget is over now, and the Market has to face the next uncertainty in the form of Elections in a few months. As per Elliot wave analysis, Nifty is likely to fall by 1400 points over the next ten days. (I'm...

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As per Elliot wave analysis, nifty has probably completed minor waves 3 & 4 of intermediate wave (3) of primary wave 3. (Have marked in the chart) Today nifty should complete downward wave 5 (likely to end at support zone 19100 to 19150). Following which the intermediate wave (4) is likely to begin which can rally to 300 to 400 points. Will update as nifty...

Stock-Holmes

That was too much of a rally for wave 4. Shorting for a 1:4.5 risk-reward trade. Target and stop loss are mentioned in the chart. Expecting wave 5 to fall stronger than the up move.

Stock-Holmes

Nifty is currently in the downward wave three correction. We have witnessed two red rays, which are part of wave 5 of the downward wave 3. So, we can witness one more red candle day that can complete wave 5 (of the larger wave 3) on the downside, and then the market should rally up in wave 4. Beware of the major wave 5 correction which is likely to begin in the...

Stock-Holmes

Today we witnessed a bear run resulting in a big red candle in bank nifty. In smaller time frames one can notice the day's low was above yesterday's low level. The last two day's price action can be fit into waves 1 & 2 of the next up trending wave. In that case, we can expect a gap-up/positive opening in our markets (SGX is minus 50 points right now) and a...

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The bull run we are witnessing may be wave 4 of the downward rally in Nifty. In that case, we may expect a collapse from here. Currently nifty is trading close to 18100 which corresponds to 0.618 levels of the downward Elliot wave. This level should be a stiff resistance for nifty. Next week market may open with a gap up and can get sold into. Day closing above...

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I have been mentioning about the iminent sell off in the IT sector in the last few posts. Technically Elliot wave 5 has started in IT stocks. The bull run in the last 2 or 3 weeks has created enough liquidity for institutions to sell their IT stock holdings. Shorting LTTS for a target of 2800.