Elliot Wave for LT, 5th Wave probability at 1403/1462 by using extensive fib ratio for targets 1300 and abc correction can 1105 nearby. Watch closely the "W" pattern & Fib Ratio on LT!
It has made a head and shoulder in the past. Now what is really important is the next move, support zone is coming near 143 form this level the the traders may be more active to go for long as it 3rd way will start from this level and it can move up-to 284. The volume is rising.
LT, forms "W" generally on the weekly chart. You can research it and post it in the comment section. I will support you on how to find/detect inside signs and clues.
The "Bat pattern" incorporates the 0.886XA retracement, as the defining element in the Potential Reversal. The B point retracement a 0.50 of the XA leg. The Bat utilizes a minimum 1.618BC projection which is already done. In addition, Ba t pattern i s extended a 1.618 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss...
The price is trading the upper band of the channe l which is resistance but nifty can create penetration( excess2 ) because of excess1 at lower band.
There is still not worry for long positional trader until the price would not fall below 13397 and Support 13000.
Two important fibs ratio for Gartley - XA retracement at 44 at 0.786. 1.618 CD projection at 46.25 . => 1.618AB = CD @55 ( investors ) The previous important level at 37 ( The price should not fall below it for long position) Note: Investors should wait for pullback to enter. ======================================================= Elliot Wave -...
If the Current price is forming an excess then price again will get attracted on the Gravitation Line . Or there can be a Breakout ! So the price will start its upward Movement.
A,B, and C corrective pattern is started or New Elliot Wave motive cycle is already started? Harmonic Patterns exist. We have to go lower timeframe for more clarity to determine tradable numbers. Let's compare Elliot Wave of HINDALCO: Longer & short TF - TimeCycle, NALCO. => Fundamental & Hindalco of the % move > relative to NALCO.
Number-6 unit of the TimeCycle has been initiated which in up-direction for NALCO. This timeCycle middle time for complete up move is at 2022. Daily TimeCycle : Fundamental & Hindalco of the % move > relative to NALCO.
Weekly TF: The Hindalco of the % move , more in the calculation of NALCO(NSE:NATIONALUM). Nalco moves Supreme Court against Vedanta’s unit.
As mentioned in the chart, the 5th wave is upward, which is progress and expected u-turn 247 and 268 for next level 220/202 to move.
The Bat Pattern, is a precise harmonic pattern™ discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg . The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD...
5th wave of (5) is not Verified But sellers are Active. The strong resistance possessed 370 nearby which can lead the price for Target 330/297 That is determined by lower Band of the Parallel channel. Check JSWSteel Bigger Picture EW analysis :
Price is consolidating at "No Trade zone" after wave C, Silver is forming No Trading Zone So as per personal view we should avoid trading, and we can get a big move after Breakout of the channel.