UNDERDOG-29

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# Elliot corrective pattern called Triple Correction WXYXZ. Charecteristics: 1)It is a combination of 3 correction.(Flat 3-3-5,Zigzag 5-3-5,triangle 3-3-3-3-3) 2)Each correction is connected by a counter trending wave x(also takes a form an elliot correction).This wave X is sideways movement there by not correcting significantly prior movement. 3)This three...

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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...

UNDERDOG-29 Updated 

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...

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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...

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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...

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Post covid we are seeing Bajaj Finance going up forming double correction WXY on primary degree.Currently we are done with wave W(Zigzag correction) followed by wave X(A expanded flat) and right now we are in the making of neutral triangle pattern of which wave A,B,C are done wave D is going on which can take prices to 6350 levels,post which we can see bounce in...

UNDERDOG-29 Updated 

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...

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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...

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After giving fake breakout we have seen price has reversed sharply there by breaking prior swing low in lesser time then prior swing high took to form giving us a double confirmation of trendline breach along with faster retracement.Meaning a significant top has been formed in the stock for atleast next 6 months and It seems like tata motors has ended it's 5 wave...

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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...

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Seems like we will see bounce from current price reasons are as follows: 1)Triple negative divergence on RSI 2)End of 5 wave impulsive decline. 3)Breach of down slopping trendline. 4)Price taking support near previous support level. 5)Price crossing 9 day ema@1444.(Although close should be considered). 6)Bullish engulfing pattern on daily chart. Structurally we...

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we are nearing end of an expanded flat correction post 5 wave impulsive rise.Now we can have two possible scenario which can unfold from here which are as follow's: Scenario-1:Considering entire 5 wave impulsive up move as wave 1 of an higher degree and the flat correction as an wave 2 of higher degree,we can see start of an wave 3 from here. Hence tomorrow if we...

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Triple correction in the making,currently we are wave z sub wave b post it's completion we will get wave c on the upside.Notice how momentum is fading in each correction,typical characteristics of triple correction. Long trade can be considered in the target zone shown for wave b,if we get a bullish reversal candle in that price zone and price crosses 14000...

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I tried putting Elliot wave label on Asian paint daily,weekly and monthly chart and couldn't come to any logical conclusion,as the uptrend didnt followed any fib rule's neither did any major swing have an internal structure similar to elliot pattern cumulatively which could make an elliot pattern. Never the less i have shown channel on the monthly chart which...

UNDERDOG-29 Updated 

As labelled letters in red represents highest degree and that in white represents one degree lower then that discribed in red. So far we have seen bank nifty rising in corrective manner as per Neo wave rules since covid low's in the form of WXYXZ triple correction.we have already seen wave W,X,Y,X and it seems like wave Z might be completing soon if we break...

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Nazara technologies crossed it's listing day high on 14-09-2021,post which it has shown impulsive rise in 5 wave,after completing 5 waves,it has retraced back to 61.8% of prior impulse meaning forth coming move can be either impulse wave 3 of higher degree or an wave C of zigzag.In either case one can long at cmp of 2300 with a closing stop-loss of...

UNDERDOG-29 Updated 

PEL has been moving in an impulsive way Feb 2021,and has completed 5 wave upside impulsive move.Here we are seeing wave 2 not retracing not more then 61% of wave 1, wave 3 extending wave 1 by 161% wave 1,wave 4 not entering wave 2 zone.This are classic elliot wave rules.wave 5 has taken a form of ending diagonal,there by forming neutral triangle pattern,meaning...

UNDERDOG-29

CNX finance is in the middle of making 7 leg bow-tie diametric Neo wave corrective pattern. This pattern has 7 leg each having corrective characteristics.In this pattern we see price contraction in first three legs followed price expansion in last three legs.So far we are done with wave A,B,C,D.wave E is going on potential target of which is coming at 17250.Once...