Elliot wave labels on monthly time frame chart.
seems like symphony has completed entire 5 wave impulse cycle on primary degree to form Cycle degree wave 1 and currently we are in cycle degree wave 2 correction.Price wise we have seen 61.8% retracement(shown in white) of entire cycle wave 1 getting achieved in wave W of cycle wave 2 from where we have seen decent...
Prestige has shown impulsive rise from the levels of 285 till cmp of 540.Following patterns were observed
wave 1:sub-divided in 5 lower degree waves.
wave 2:retraced 61% wave 1,sharp reaction.
wave 3:161% extention of wave 1 target achieved
wave 4:as wave 2 was sharp and shorter in terms of time,wave 4 turned out to be shallow retracement of of wave 3 and longer...
Jindal Stainless Ltd is moving up in impulsive manner where in we can move unfolding in 3 different degree's(Primary,Intermediate,Minor)
Here we are seeing Extention in Primary wave 3 which is sub-divided in 5 intermediate waves and of this 5 waves,intermediate 5 is sub divided in minor 5,which got completed when prices reversed from upper channel rasistance...
HSIL seems to be following impulsive price movement.
Primary degree wave 4 seems to be in progress,price breaching white 0-B trendline along with breaking above 250 will confirm end of Primary wave 4 and start of wave 5.
One can go long at cmp of 237.50 as we already have 2-4 trendline breach along with wave 4 break-out of the wave c on intermediate...
Bajaj Auto post covid low's in March 2020,has been raising in an corrective manner there by forming WXY double correction.Of this WXY we are done with wave W and wave X,and wave y has begun just before 2 days when it broke past 3372 wave 4 peak.
Wave Y:Zigzag(however not clear as of now)
So far we cannt conclude which form wave y will...
On weekly chart it seems like we are in cycle degree impulse wave 5,entire cycle degree wave 5 started in 2017 February.
Intermediate:wave 2(either triangle or diametric)
Minor:wave d(not shown)
Based on the internal structure of Intermediate 1 of Primary 5,it seems like Primary 5 will make ending diagonal there by...
Analysis from 20-12-2021 onwards.
We are seeing complex corrective rise in Nifty in the form WXY double correction,where prices have not breached raising channel even after 4 touch points.
Currently we are in wave C of second correction Y in blue,and going ahead we can see price falling in 17616-17550 zone to complete wave B of higher degree wave Y.Prices can...
Analysis from 20-12-2021 onwards.
We are seeing bounce in bank nifty post 20-12-2021 in the form of complex correction wxy.Before this we had impulsive move unfolding in 5 waves on the downside.Meaning post this complex correction we can again see impulsive decline in the form of wave 3 or wave c.
Right now we are seeing impulsive rise post wave x in pink,of...
Greaves cottan has been in an up trend since November 2020 there by making higher and higher low's.In the process we can see it is following elliot wave counts as shown.So far it seems like we are coming out of Primary wave 2 correction and going ahead we can acceleration in the trend as wave 3 in primary degree can take prices to 320 odd levels,which roughly...
Since Mid August we are seeing price moving in corrective manner,there by forming WXY double correction.So far it seems like each correction took following forms.
wave W:Regular Flat
wave Y:Regular Flat
Current wave Count:
Wave y,sub wave c,sub wave 4(triangle wave E),going ahead we can see wave 5 unfolding on the downside but we won't...
Letter in green:highest degree
Letter in yellow:lower degree then in green
Letter in white:lower degree then in yellow
Letter in blue:lower degree then in white.
!st scenario:Neutral triangle
As per neutral triangle wave B(yellow),we are in wave c(green),sub-wave b(yellow),sub-wave e(white),sub-wave g(blue).
Minimum target for wave g in blue is coming at...
Since October high's we are seeing impulsive move in price unfolding on the down side.seems like we are in wave 5 sub wave 4,meaning we can expect one more push on the downside till 16500 levels.Right now price seems to be making triangle or raising wedge as per classic technical analysis terminology.
Expecting current bounce to end soon once price breaches...
we might be ending wave D of neutral triangle in bajaj finance as it seems like wave d took form of a regular flat and target of 100% extention of sub-wave A for sub-wave C is coming at 6457.We also have channel support near those levels along with wave B price action zone starting at 6477 and price touching 6477 level would ful-fill wave D criteria of Neutral...
One can go short in PEL as we are in the middle of regular flat correction Wave B of which took a form of neutral triangle there by forming Head and shoulder top pattern neckline of which got terminated at 2500 levels with faster retracement indicating end of wave B and start of wave C.Considering this as a regular flat wave C can unfold an 5 wave impulsive...
IEX is showing impulsive rise post covid low's.Currently we are in Primary wave 5 (which has taken a form of ending diagonal as it's 5 intermediate wave has 3-3-3-3-3 internal structure)intermediate wave 4 minor C,which can end near 200 odd levels.
Following are the reason for intermediate wave 4 to end around 200-206 levels.
1)100% extention of minor A for...
Post covid IDFC FIRST has been moving up in an impulsive manner.Impulsive move advance's price in 5 waves of which 1,3 and 5 are in the direction of primary trend and 2 and 4 are counter trending.
Elliot wave Patterns discussed in this chart and it's rules.
*Elliot wave impulse pattern and rules:
1)Wave 2 doesnt retrace wave 1...
It seems like maruti is unfolding zigzag correction with wave A being a 5 wave impulsive down move from 8368-6990,wave B taking a form of regular flat from 6990-7460.And going ahead we might see impulsive 5 wave unfolding on the downside in the form of wave C.
Reason behind completion of wave B
1)Internal strucutre of flat(3-3-5) is done with wave C forming a...
Bounce in Axis bank from 650 low's is looking corrective in nature as the we are seeing too much of price overlapping.As the internal structure is 3-3-5 we can assume current correction as an ABC FLAT correction.
Notice wave C, 5 wave advance has formed a diagonal pattern where in wave 4 enter's wave 2 area coupled with a negative divergence between wave 3 and...