The time frame to reach targets are not clear, but nifty is definitely correcting. Though there can be pullbacks midway, eventually NIfty will correct more.
Another Elliot wave demonstration. The trending waves are done as per my prediction. The correction waves are yet to begin. We can expect up to 15% correction over the next few weeks. The waves are shown in the chart. I had marked the targets too.
Bhartiartl seems to have completed its 5th wave. The corrections are on their way. Expecting a target of 680 over the next few weeks.
Nifty has been in the parallel channel for quite some time and has completed the 5th Elliot wave. We are likely to see a zig-zag correction where wave A is completed. Wave B is most probably the last bull run we'll see ahead of Diwali. The support line of the parallel channel is likely to be broken and I'm expecting a sharp correction in nifty (wave C) to 17000...
A beautiful triangle breakout can be seen. Short term target of 695 can be expected. Time frame - maximum 2 weeks.
The chart of PSU BANKS had completed the 5th wave of Elliot waves and has started correcting. If my prediction goes well we can see a recovery in these stocks and then a steep fall from there (roughly around Diwali time). PSU BANKS- SBIN, CANARA BANK, BANK OF BARODA, PNB, INDIAN BANK, UNION BANK. Keep these stocks on your radar.
Nifty may see a pullback to 17900 to 17950 levels before falling to 17450 levels! I'm planning to short nifty when it gets to 17900 levels.
The script had formed a symmetrical triangle.. The share price is near the apex of the triangle. Increasing volumes traded in the last few days. A breakout might come soon. Expecting a good upward move in the next few months... Target 200. Keep this stock in your watchlist and accumulate after it breaks out.
The share price of Tata motors has been correcting following a stellar run. This triangle correction may be the 4th Elliot wave. We may witness another small bull run following which the stock can see steep corrections. I had given my analysis in the chart. Final target - M 435. This is my prediction and is not a piece of trading advice.
The LTI script had rallied too much and looks like it can't bear its weight anymore. The Elliot waves are done and the correction has just begun in LTI. I'm expecting a target of 5800 in the next few weeks. Analyze and trade if this is convincing. PS: Overall market is correcting and IT stocks are still overvalued.
Technically looks good for a rally from here. Targets 625 and 675.
While most auto stocks are rallying, Bajaj auto is still near support levels and is yet to start its run. The script is forming an ascending triangle pattern and looks good for the trade over the next few months. A spike in the sale of two-wheelers around DIWALI can boost the numbers for Bajaj which will ignite the rocket for the rally. Good to enter at the...
The bank nifty candles are clearly respecting support and resistance levels within the parallel channel. Any breakout from this channel should be a good indication to enter trading in bank nifty.
A parallel channel breakout can be seen in the chart. The resistance line has been retested. Any move above 320 should be a good indication to enter for a target of 375. Stop-loss can be placed at 310. A risk-reward of 1:8.
Indigo paints share prices have been trading within the triangle pattern. Add the stock to your watch list. It is trading near the support line. Good to enter here with a stop loss just below the support line. Or, wait for a breakout to trade this pattern.
A triangle breakout in Ramcocem means good news for cement stocks. Looks good to go long in cement stocks.
A clear breakout through resistance. Can trade for decent short term returns.
The chart of Grasim looks somewhat similar to the chart of Dixon. Grasim has been consolidating within an ascending parallel channel since March and a strong breakout through the resistance trendline can be seen on Thursday's trade. Good to enter for both short and long-term trades. Targets- 1840 and 2000. Add more if there is a retracement to 1680 to 1700...