UNDERDOG-29

UNDERDOG-29

On weekly chart Kotak Mahindra Bank has given break out of the falling trend-line and has given a close above it suggesting end of end cycle degree wave 2 or cycle degree zigzag wave B. In both the case's we can expect price's to show an impulsive raise in coming days which can take prices to the levels of 2785(incase of zigzag wave c by August 2024.) and...

UNDERDOG-29

Post completing 5 wave impulsive move we are seeing complex correction in Nifty of which wave W and wave X is done and currently it seems like wave Y is in the making,which might have taken a form of triangle given it's internal wave B has taken lesser time then it's wave A.Right now we are in the middle of wave C of triangle and going ahead we can see a bounce in...

UNDERDOG-29 Updated 

As depicted in the chart we have completed up move in 5 wave's followed by 3 wave corrective move.Hence it can be assumed that current rise from 68 is either a zigzag ABC or a start of new impulse,in either case we can expect this up move to continue and can take price between 92-100 levels. Target for zigzag wave c is 92-95. Target for impulse ave 3 is...

UNDERDOG-29 Updated 

seems like nifty has started wave 4 on minor degree in the on going impulse.one should avoid buying at current levels unless we see a decisive close above 18100 and wait till 17100 level is reached on index as it is the 38.2% retracement of previous wave 3 along with price action support zone. Important rasistance level are 17684-17763-17842. Shortselling can be...

UNDERDOG-29 Updated 

CNX CONSUMPTION has been out performing broader markets on the back of impulsive move that price has shown. Following are the reasons for considering current rise an "Impulse" 1)Wave 2 has not retraced more then 61.8% wave A 2)Wave 2 has taken equal time as wave 1 took to form 3)No part of wave 3 has touched 0-2 trendline while its advance.(not shown...

UNDERDOG-29

#Characteristics of Bow-Tie Diametric pattern *It's a seven legged Elliot / Neo wave corrective pattern *Wave A=G,B=F,C=E.wave D is connector. *Wave B takes less time then wave A took to form,and can correct wave A by more then 61.8%. #Reasons for not considering this entire swing as an impulse/triangle move *Wave B has retraced wave A more then 61.8%(In an...

UNDERDOG-29

#Characteristics of Bow-Tie Diametric pattern *It's a seven legged Elliot / Neo wave corrective pattern *Wave A=G,B=F,C=E.wave D is connector. *Wave B takes less time then wave A took to form,and can correct wave A by more then 61.8%. #Reasons for not considering this entire swing as an impulse/triangle move *Wave B has retraced wave A more then 61.8%(In an...

UNDERDOG-29 Updated 

Rise in Bank nifty seems to have taken a form of Bow-Tie diametric pattern.We have seen completion of wave A,B,C,D,E.Currently it seems like we are in the middle of wave F.Wave F equality target of wave B is coming at 34608.Also it seems like wave F internally is forming a flat corrective pattern of which wave A and wave B is done and today after price retracing...

UNDERDOG-29 Updated 

Bajaj Finance has shown an impulsive decline and has finished it's 5 wave impulsive decline there by forming a ending diagonal in wave 5 in todays trading session.we also have a full moon today and full moon has produced bottoms in past. One can go long at cmp of 5671 with a stop-loss of 5480 on the down side for targets of 6162 and 6372. Disclaimer: This are...

UNDERDOG-29

psu bank index is following 55 days cycle meaning every 55 day we get a pivot low.so far we havent seen a lower low on psu bank index as compare to bank nifty or nifty.current 55 day cycle is ending on 31st may meaning around may end we can expect psu bank index to form important pivot low. adding moon phases to this cycle we can get to know the harmonic of the...

UNDERDOG-29 Updated 

So far we are seeing corrective price action unfolding in nifty in the form of double zigzag pattern(WXY). we are done with wave W and wave X,and wave y move started on 29th march when index crossed 17300 on the upside.Of this wave y we are seeing wave A achieving it's 61.8% extention target at 18054 and taking pause there after, suggesting wave B has...

UNDERDOG-29 Updated 

Rise in Bank Nifty seems corrective in nature taking a form of double correction WXY.So far we are done with wave W and in today's trading session we are seeing price giving confirmation of wave X end when it broke 36000 on the up side. Generally in double correction wave Y achieves 100% extention target of wave W however it can even end at 61.8% extention. One...

UNDERDOG-29 Updated 

CYCLE PRINCIPLES: 1. The Principle of Commonality – Markets(Index) and security price(stocks) movements have many elements in common. In particular they tend to have common high and low points that coincide with cycles. 2. The Principle of Cyclicality – Price movements correspond to a combination of waves that exhibit cyclic characteristics. 3. The Principle of...

UNDERDOG-29 Updated 

Concept of Time Cycle: #A cycle is something that influences the price movement of a financial market to move up towards a peak, and then to move down towards a trough (or low point). #It repeats that action on a fairly regular basis or exist in continuous time. #There are multiple cycles which influence the price movement of any financial market.The multiple...

UNDERDOG-29 Updated 

Bank nifty is following 15 days time cycle since Nov.2020, meaning every 15-16 days bank nifty forms important pivot low post which we can see rally. Yesterday we had 15 day cycle low day,post which we are seeing rally meaning cycle is still active and has capture past 3 lows perfeactly. Going ahead we can see this rally to continue and for short term 32155 can...

UNDERDOG-29 Updated 

So far it seems like we are done with the complex double correction WXY on the back of following reasons: 1)Price has crossed and will be closing above upper channel rasistance line looking at today's price action. 2)Price will be closing above wave 4 high of 1250 looking at today's price action. 3)Price has crossed 38% retracement level of entire correction at...

UNDERDOG-29 Updated 

Since 10th feb nifty has started it's fall,but the nature of the fall is not impulsive rather it is falling in corrective manner there by taking a form of 7 legged diametric pattern.So far we are done with 4 leg's and currently it seems like 5 th leg is also completed confirmation of which can a hourly closing above 15900,which would trigger a short term reversal...

UNDERDOG-29 Updated 

Seems like LTTS has completed expanded flat correction and going ahead we can see bounce in the form of new impulse or and connecting wave X which take prices higher. We have morning star candle stick pattern formation along with 2-4 trendline breach and postive divergence in momentum indicator(not shown),one can go long at cmp 4650 with a stop-loss of 4300 for...