UNDERDOG-29

UNDERDOG-29 Updated 

First thing to do is to identify the time frame that one is comfortable for trading or investing there money for,accordingly one should select time-frame for labeling waves.Here i have tried to label from cycle to minor degree.Analysis below is targeting Primary degree wave 5 upward movement that might unfold in near future. As mentioned in every book or article...

UNDERDOG-29

Cipla has been trading in a range from last 6 months.We have definite supply and demand zone at 870-885 and 980-997 respectively.Expecting an upside breakout after looking at today's price action.Reasons for upside breakout are as follow's 1)Stock has been in an up trend,and has previously given similar range breakout's on the upside 2)During every fall time...

UNDERDOG-29 Updated 

HAPPIEST MIND NEO WAVE COUNTS. Seems like primary 4 is about to end as minimum time required for wave 4 formation is done in today's trading session,also yesterday it had an strong bullish candle of which we are getting follow through in today's trading session. Now long entry should only be made once trend line is breached and price stays above 25 ema for 2...

UNDERDOG-29 Updated 

HeroMoto Corp is been witnessing selling since feb 2021,a clear under performance when compared with broader markets. Monthly chart for long term counts As per this count we are in super cycle wave 4,cycle wave b,primary b. Countinuing to above count,on daily time frame we are in primary b,intermediate c,minor 3(might just begun once we get close below...

UNDERDOG-29

Time to be cautious on AUTO sector,we have seen a significant corrective rise since covid low's on CNX AUTO INDEX in the form of triple correction WXYXZ,with wave W taking a form of bow-tie diametric pattern,wave Y being a zigzag, and wave Z being a flat correction.Post this we can see impulsive move unfolding on the downside retracing entire WXYXZ pattern by...

UNDERDOG-29

Current strucutre:WXY double correction Current count Intermediate :wave y Minor:wave c(not shown) stock has corrected from where it was, meanwhile making double correction WXY. Right now we are in second correction wave Y sub wave C. Important support area from where prices can reverse is coming at 1115-1135.Any bullish reversal candle in this zone followed...

UNDERDOG-29 Updated 

Current wave counts Primary-wave 2 (orange) Intermediate-wave A (Blue) Minot-wave B (Red) Minute-wave C (Yellow) Applied Neo wave Impulse Rules: 1)Counting started from faster retraced low 2)wave 2 should not retrace wave 1 by more then 61.8% 3)wave 2 should be equal or longer then wave 1 in terms of time 4)0-2 TL should be clean and price action of 1 should not...

UNDERDOG-29

In this post i have tried analyzing chart by combining both price/volumes and time factor simultaneously. For deciding trend and predicting price i have used Elliot wave theory and for timing and entry/exit i have used cycle theory. Elliot wave theory Impulse wave rule: 1)Wave 2 can't retrace wave 1 entirely 2)Wave 3 can't be shortest of wave 1,3 and 5 3)Wave 4...

UNDERDOG-29

Elliot Rules and guideline 1)Wave 2 should not retrace entire wave 1(Here on cycle degree it retraced wave 1 by 61.8% which is ideal as per guideline) 2)Any one wave entend's other 2 by 161.8%,other 2 being equal in length(As per guidelineTypically wave 3 extend's and 1 & 5 tends towards equality).Here also Wave 3 extend's wave 1 by 161.8% and wave 1 and 5 tends...

UNDERDOG-29

Nifty after consolidating for 33 days gave a decisive breakout above 15900-15950 levels from where we have seen a decent trending move. During this entire rise nifty has respected channel line shown in the charts on manier occassion there by providing us future potential reversal points. Today it seems like nifty finally decided to change it's direction of...

UNDERDOG-29

current strucutre:WXYXZ(Three correction connected by wave x) Current leg:wave B of third correction wave Z Internal form of third correction (wave Z)is yet undefined,here i have taken it as a flat,this can change.only coming days can tell which form it has taken. Prakash pipe has been trading in an channel,which got breached recently meaning buying momentum is...

UNDERDOG-29 Updated 

Current pattern: WXY double correction Both correction have taken Bow-Tie diametric form(7 leg pattern,Expansion in first 3 leg and compression in last 3 leg). Right now it seems like second correction is done and current fall can be wave X or wave 1(star of new impulse on the downside) Shown horizontal dashed lines are retracement(23,38,50,62) levels of second...

UNDERDOG-29

HDFC BANK WAVE COUNTS I have labelled HDFC BANK chart with an impulse count as it was following impulse count's rules. It seems like we are about to complete 5 wave impulse pattern on the upside.Following are the reason behind impulse completion or wave 5 of an impulse completion 1)Price wise target of wave 5 is almost done when it made high of 1725,considering...

UNDERDOG-29

UPL seems like moving up in an impulsive manner.Notice how previous price action zone has acted as rasistance and once breached has given support to prices for future up move there by confirming continuation of ongoing up trend. Notice how recently price has reversed from previous price action zone and has breached down sloping trendline indicating end of wave...

UNDERDOG-29

Pattern details: 1)It's a 7 leg corrective pattern 2)Here in first 3 leg's price's contracts after which wave d is formed (sort of wave x of wxy) which is followed by 3 expanding leg's,meaning contracting triangle connected by expanding triangle 3)Wave G tends towards equality wave A,wave F towards wave B,wave C towards wave E,however wave G can only be...

UNDERDOG-29

looks like double correction to me Primary degree: Red Intermediate degree: Black Minor degree: Blue. Current Count: Primary: wave Y Intermediate: wave C Minot: wave wave 3 complex correction's are identified by price movement confined in channel.Here we can see this phenomenon happening.wave Y has taken a form of an zigzag corrective pattern of which wave A...

UNDERDOG-29 Updated 

Degrees Primary : White Intermediate : Yellow Minor : Blue Current Structure in Primary degree : 3-3-5 Flat Current Structure in Intermediate degree : 3-3-3-3-3 Terminal Impulse Current Count:Primary B,Intermediate C,Minor 5 On the basis of price movement It seems like we are making a Flat corrective pattern 3-3-5 in primary degree of which wave A and wave B...

UNDERDOG-29

seems like CNX AUTO is making triple correction WXYXZ from covid low's. Triple Correction form: wave W =Diametric wave Y =Zigzag wave Z =Flat Current count: Right now as per this labeling we are wave Z(third correction) of which wave A is done and wave has taken a form of diametric correction.With in this wave B diametric we are in wave G meaning wave C is...