TradingSutra

TradingSutra

Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...

TradingSutra Updated 

Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...

TradingSutra

Stock is has formed a bullish flag pattern on 4H chart being the support region near 455 zone & resistance area at 474 zone. Any sustained move above the level of 475 will lead the stock towards 500/520/560 in a very sharp upside rally. Trading strategy: Buy on cmp 473-74 with SL of 455 and look for the immediate target of 500 and later 520/560. The measured...

TradingSutra Updated 

After breaching the all time high of 2086 formed on Feb'2020, stock is correcting lower in a Complex-Corrective-Wave - WXY structure. Stock is already concluded its Wave-X at the high of 1925 and currently unfolding into Wave-Y of which wave-b is taking a formation of a Bearish Triangle . The measured target where Wave-W becomes equal to Wave-X is coming in...

TradingSutra

From Jul'22 low of INR 877 prices have retraced to Fibonacci 61.8% retracment level positioned at 1150 zone and formed a potential double top structure. Prices have also formed a Rounding Top pattern whose neckline is in the region of 1101-1100. The measured target for the pattern is coming in the region of 1050-1045 where its 200-EMA is also positioned As per...

TradingSutra Updated 

Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) of Elliott Wave analysis, but they may or may not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 almost all the time...

TradingSutra Updated 

Stock is falling in an impulsive structure Dec'22 high of 529. The impulsive structure suggests that a larger correction is going to occur in the coming weeks. As per the current price action prices have already concluded its 4th wave at 557 and is now ready for its 5th wave. Alternatively prices are likely to unfold its 4th wave as Bearish Triangle which will...

TradingSutra

After a five wave impulse down nifty is rising in a corrective structure on the upside. The corrective nature of the price action suggests that near term trend for the nifty50 is down and prices are likely to fall towards 17000 in the coming weeks. On the upside the key resistance zone is 18350 while on the downside key supports levels are 17650/17350/17000

TradingSutra

Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...

TradingSutra

Stock is rising in an impulsive manner on the lower degree time frame and is likely to form a five wave structure on the higher degree time frame which will be a base building for the next higher level. The current structure suggests that stock has already concluded its 3rd wave and currently retracing back in a wave-4 which is likely to conclude in the region of...

TradingSutra Updated 

THEORY: This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left...

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TradingSutra

Inverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large...

TradingSutra

From the bottom of Mar'20 of 1473 stock has rallied to 3000 odd levels in an impulsive manner which can be counted as clean impulse pattern of five distinct waves. This impulsive rise can be designated as our primary wave-1. After placing a high of 3021 in Nov'21 stock has undergone into a complex correction WXY in the primary wave-2 which was concluded in Jun'22...

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From the high of 2680 stock has given a correction in an Expanding Flat category. The post market price action of an Expanding flat is very powerful. Based on this observation HDFC stock is likely to extend the gains towards 2710-2715 in the coming days. Any weakness should remain above the level of 2632 however, nearest stop loss can be taken as 2649. Buy:...

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The rise from the Mar'20 bottom was an impulsive move which should be considered as the Primary Degree Wave-1 concluded near the zone of 18600 in Oct'21. From that top Nifty50 fell down in a corrective way and made a low of 15183 in Jun'22. This fall was not even reached to Fibonacci 38.2% retracement level positioned at 14400 zone where the previous fourth of 1...

TradingSutra

Inverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large...

TradingSutra

Inverse Head and Shoulders Continuation: This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large...

TradingSutra

The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. Trend: In order to qualify as a continuation pattern, an...