L&T: Have tried labelling from covid low's. *Logic behind labelling price as corrective structure: From covid low's no swing has internal structure of an impulse, every swing is divided in 3 sub-waves meaning rise in L&T was corrective.Also no impulse rules were followed to make an impulse pattern ofhigher degree. *Eliminating corrective pattern: From covid...
I can only come up with this following count,in order to come up with a logical count,i kept on taking more data in order to make some sense with my labeling. Reason for considering current rise a part of Bow-Tie Diametric Pattern are as follows Starting point was taken on the basis of faster retracement of prior swing high ,since then price has not shown any...
Reason for starting wave count from the point shown here is,in the past price movement(from covid low's) no prior swing high is retraced faster then the fall from that high took to form. Rules and Reason for impulse count 1)wave 2 should take more time then wave 1 to form,here this rule is followed 2)0-2 trend line should not be touched by wave 1 price...
Current count: Cycle: wave 1 Primary: wave 5 Intermediate: wave 1 price has fallen in the tgt zone of intermediate wave C of 100-123% extention of wave A from wave B top,after that in yesterdays session we saw bullish engulfing candlestick pattern and today we are seeing follow through buying as it has crossed previous two days high. One can take 30% position...
Current wave count as per my view. Cycle : wave 2 Primary : wave A(In case of zigzag correction) or wave B(In case of Flat correction) Intermediate : wave 4(In case of zigzag correction) or wave A(In case of Flat correction) Primary 5 has taken a form of an ending diagonal with an truncated 5th intermediate wave.This is followed by 2-4 trendline and wave 4 low...
wave count Cycle-1 Primary-5 Intermediate-4 Minor-C Minute-5 Target zone for Minor-c is shown by taking 38.2% & 50% retracement of wave-3 intermediate. If price falls in the target zone and gives reversal candle in the form of Doji,Hammer,Bullish piercing or Bullish Engulfing followed by a close above high of reversal candle then we can assume intermediate wave...
cycle: wave 1 Primary : wave 4 Intermediate : wave C Minor : wave 5 Target zone for Minor 5 @49.55 : 100% extention of intermediate A from B top @47.05 : 61.8% retracement of primary wave 3 @44.35 : 123.6% extention of intermediate A from B top If price goes below 44.50 then it would invalidate this count,as wave 4 cannot enter wave 1 zone. Confirmation...
2 weeks before we had a doji candle oon the chart followed by a bullish reversal candle which closed above previous 2 candles high and which is followed by another bullish candle this week which is about to break 0-b trendline on the upside.Clearly momentum is building in this stock for a wave 5 tgt of 1640 and 1760,invalidation level is 1400,any 2 successive...
labelling done using following rules for impulse 1)wave 2 should not retrace wave 1 entirely 2)wave 3 cant be shortest 3)wave 4 cant enter wave 1(except diagonal) for flat with truncated wave c 1)wave b should at least retrace wave a by 80% 2)wave c should at least reach 61.8% extention of wave a. for zigzag with truncated wave c 1)wave b should not retrace...
current structure: zigzag 5-3-5 current leg:wave c sub wave 5 sub wave 2(this should form an ending diagonal) typical target zone for zigzag wave c is between 100-123.6% extention over here internal structure is supporting zigzag correction pattern but wave b has retraced wave a by 80%, where in a zigzag pattern wave b will not retrace wave a by more...
Current Count Cycle: wave 3 Primary: wave 4 Intermediate: wave C Minor: wave 5 Minute: wave 5(Expanding Diagonal) Current Structure: Irregular Flat or Elongated Flat Logic for Irregular Flat Primary wave 3,Intermediate wave 4 @ 900 Primary 4, intermediate wave A 138% extention from wave b top @ 900 Primary 4, intermediate wave B 123% retracement @ 906 RSI...
1)scenario Current wave count: cycle-3 primary-1 intermediate-3 minor-1 as per this count current bounce being an intermediate wave 3 bounce,price should go till 420.(standard 1.618% extention of wave 1 from wave 2 low) longs can be initiated @ cmp of 338 with a stop-loss of 314 on closing basis and a tgt of 420. 2)Alternate scenario Intermediate 1 is wave...
nothing much to describe as chart is self explanatory. fresh breakout above 72 in todays trading session.lower level of range @ 65 can be new base for further up move from this price and hence can be a good level for sl on the downside. DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my...
KOTAK BANK HAS COMPLETED REGULAR FLAT ABC CORRECTION. STOCK HAS BOUNCED ON MULTIPLE OCCASSION FROM THE LEVELS OF 1700 INDICATING GOOD SUPPORT LEVEL. HAS HUGE OI @1700 PE ON JULY EXPIRY CONTRACT AGAIN INDICATING STRONG SUPPORT. A BOUNCE IN FORM OF AN CONNECTOR WAVE X OR COMMENCEMENT OF NEW IMPULSE CAN EASILY TAKE PRICE TO 1800-1860. DOWNSIDE RISK IS ONLY 30...
LONG @ CMP OF 1525 WITH CLOSING STOP OF 1470 AND TGT OF 1705. TIME FRAME:1-2 MONTHS. REASONS FOR LONG 1) RSI ABOVE 55 LEVELS 2) PRICE ABOVE 20 SMA 3) POSITIVE CROSS OVER OF 5 & 20 SMA 4) BREAKOUT FROM PREVIOUS HIGH 5) SHORT COVERING IN 1500 & 1520 CALL, SHORT BUILD UP IN 1500 & 1520 PUTS. DISCLAIMER:There is no guarantee of profits or no exceptions from...
In today's trading session SPARC has completed WXYXZ triple correction when it crossed 233 levels. After such side ways correction,subsequent move is supposed to be an 5 wave impulse which can take out previous high from where the correction has started. Hence one can go long @ cmp of 235 with a stop of 228 on closing daily basis on the down side and target of...
LUPIN HAS FALLEN WITH LOW VOLUMES TO 138.2 % RETRACEMENT LEVELS WAVE C OF WAVE B AFTER WAVE B RETRACING 123% OF WAVE A MAKING EXPANDED FLAT WAVE 4 CORRECTION. FROM HERE WAVE 5 BOUNCE CAN COME WHICH CAN TAKE PRICE TO 1256 LEVELS BUY ONCE PRICE STARTS TRADING ABOVE 1162 WITH A CLOSING STOP OF 1135 ON THE DOWN SIDE WITH AN EVENTUAL WAVE 5 TARGET OF 1256. NOT...
RELIANCE HAS ACHIEVED IT'S WAVE C TARGET FOR AN ELONGATED FLAT @ 2066 AND LOOKING AT THE OVER ALL STRUCTURE IT SEEMS LIKE WAVE 5 MIGHT COMMENCE SOON. ON HOURLY CHART IF TODAY WE GET A CLOSING ABOVE 2100,THEN IT START WAVE 5,HENCE KEEP AN EYE ON THE STOCK AND ENTER ONCE 2100 IS CROSSED ON HOURLY CHART FOR AN UPSIDE TGT OF 2180 AND 2300 WITH A CLOSING STOP OF 2060...