Multiple signals to go short in this script. 1. The share price is near the resistance trendline. You can appreciate it in the daily time frame chart. 2. Elliot impulse waves (5 waves) completed. So, we can expect the correction waves to take action now. 3. RSI divergence can be noted. I'm expecting a correction of at least 10% this February. Target 1240.
Elliot trades. The impulse waves had started from April 2021, had reached almost the end of wave 5. I would wait to invest at this time. 140 to 150 should be a good price to invest in ONGC. Wave 5 again follows the Elliot 5 wave pattern. I'm expecting the share price to correct to at least 160 this February.
Elliot wave pattern. Correction waves can take PVR share price to 1515 levels. Expecting about 100 points correction in the next 1 to 2 weeks.
The share price seems to follow Elliot 5 waves pattern in the correction. Wave 4 is in the process and I'm expecting a triangle kind of pattern in wave 4. After completion of wave 4, we can expect wave 5 to drag the share price to 3300 to 3000 levels. One can wait for the share price to fall to such levels before investing in Mindtree.
Another Elliot wave pattern. We can see the share price has completed wave 3 and is correcting in a pattern (wave 4). Expect a rally towards 5300 after this short-term correction.
One can wait for the script to reach 3100 levels to short for decent returns. Bullish for the ver short term.
After an upward retracement, the stock has been corrected in a 5 wave pattern. The script is currently in its 4th wave which usually takes a triangle pattern. We can short it for a minimum gain of 100 points gain. Happy trading!
Don't you think the stock price had rallied too much? Expecting at least 800 points fall in this script.
As per Elliot's wave pattern, the IT sector is on the 5th wave run. The sector had rallied 80% in the last year without any significant correction. With the major IT companies announcing their quarterly results next week I'm expecting profit booking in stocks that had rallied significantly. Be cautious before investing in this sector now.
The top is getting heavy for both nifty and bank nifty. US inflation data, Indian inflation data, TCS, Infosys, Wipro results. Too hot to handle. Vix above 17. Technically 5th wave of Elliot getting completed. Can short nifty with a stop loss of 18400. (Risk reward 1: 3.5) Targets mentioned are for the next few weeks. Profit booking in IT and banking stocks...
A triangle breakout in Adani Ports chart. Stop-loss. can be placed below the resistance trendline of the triangle
We can expect at least a 10% rally in Axis bank. Hoping for a short-covering rally before this week's expiry.
Time for some imagination! I have been waiting for LTTS to show signs of bearishness and I feel the time has come now. Waves 1 and 2 of the downward Elliot are done and the script should fall next (wave 3). Wave 4 can be a triangle which is a common scenario. Targets marked on chart. L&T infotech too shows similar weak pattern.
The 16700 which was a resistance level during August should be a strong support to Nifty now. This line also corresponds to the 0.5 Fibonacci retracement in Nifty. Once Nifty reaches 17700 to 17600 I'll close my short positions in Nifty as a quick short covering rally might occur. If nifty breaks and closes below 17600, then we can short again for 0.618...
Similar pattern as Nifty. Can short intraday as per charts.
Elliot waves on the bear side. Wave 3 going on. So can expect more downward fall in nifty. TARGETS are mentioned in the chart.
Nifty has corrected a lot and is on its 5th wave. We can expect a small pullback only for nifty to resume its correction again.
TITAN had rallied a lot and it is out of fuel now. The support line is broken which acts as resistance now. Targets are 2275 and 2100 on the downside. Stop-loss can be 2390. All the best guys.