WaveMoku

WaveMoku

Oct 23, 2024 After hitting a high of 26,277, Nifty began spiraling down. On the weekly chart, it appears like Nifty has completed Waves 1, 2, and 3. It is now in correction in the form of Wave 4. In Wave 2, Nifty corrected by around 17.5%. Common Fibonacci retracements for Wave 4 would target: 23.6% of Wave 3 or 38.2% of Wave 3, which is the maximum. Do you...

WaveMoku

Sep 13, 2024 L&T Finance is in subwave 5 of Wave 3. Application of Ichimoku cloud shows today’s candle has closed above TS. On the daily chart, the Sep 13 candle closed just above the cloud top. Price may hit a hurdle around Rs. 182 and go sideways. However, the probability of overcoming this hurdle is high. Also supporting this view is the fact that the...

WaveMoku

Sep 13, 2024 From March 2023, this price of this stock has been in uptrend. As per MoneyControl also, the stock is around 1.72% away from 52 week high and is showing a bullish momentum. If it manages to sustain above the 50% Fib level (Rs. 979.10) for a day, there is a high probability of it going up to touch the 127% mark (Rs. 1033). Stoploss would be the...

WaveMoku

Sep 11, 2024 In our last update on Nifty 50, we predicted that the upward move of B wave should end near 78.6% Fib level, which is the max it would go. The correction of B wave post Zig-zag A retraces anywhere between 38.2% to 78.6%. The B wave followed this rule and ended at 61.8%. After the completion of B wave, we saw the beginning of C wave. Wave C...

WaveMoku

Sep 11, 2024 As predicted on Sep 6, 2024, starting from the 61.8% Fib level, Asian paints hit the 78.6% Fib level today. An upside move of almost Rs. 150 in 5 trading days!! Let us know if you capitalized on the uptrend. Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you. Disclaimer: We...

WaveMoku

Sep 10, 2024 After hitting a high of 25,333, Nifty began moving down. On the hourly chart, we can see that Nifty has formed a Zig-zag correction. The uptrend is most likely the formation of corrective B wave. The B wave should complete around Fib level 78.6%. After that, we should see the downtrend again in the form of C wave. One of the main...

WaveMoku

Sep 8, 2024 After the Covid-19 crash, Apollo Hospitals (APOLLOHOSP) has completed Degrees (Waves) 1 and 2, and is right now in Degree (Wave) 3. In Degree (Wave) 3, the stock has completed subwaves 3.1 and 3.2. Subwave 3.3 is near completion. Post completion of subwave 3.3, it would be time for corrective subwave 3.4 to begin, which should take the price down...

WaveMoku

September 6, 2024 On Sep 4, 2024, we had predicted an upside move in Asianpaint. From Fib level 61.8% (Rs. 3224), Asianpaint is today trading at Rs. 3283. And this is happening even as Nifty came down by around 400 points in the past 2 days. Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you....

WaveMoku

Sep 6, 2024 In our last post on Sep 4, 2024, we had opined that to move up, Nifty needs to break the previous All-time high. Based on Bollinger bands analysis, we also posted that buyers appear weak and upside momentum appears sluggish. Today’s daily candle is currently trading below the low of yesterday’s candle. If today’s candle closes below yesterday’s...

WaveMoku

Sep 6, 2024 On Aug 14, 2024, we had posted our analysis on Bank nifty, as shown in the chart below: Banknifty reversed exactly from the zone we had marked. Current down move could possibly be Wave X or Wave 2. Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you. Disclaimer: We are not...

WaveMoku

September 5, 2024 BAJFINANCE has completed Degree 1 in January 2022. This stock has been in correction since then, which can be interpreted as ongoing Degree 2. Degree 2 is showing the nature of double correction. After the double correction, the price is now evolving in a sideways pattern. Price can go sideways after a double correction, and this can be...

WaveMoku

September 4, 2024 PAGEIND was in downtrend since October 2022. It seems to have completed a double correction by March 2024. After the correction, the price has been in uptrend. Evaluating the uptrend from March 2024 to September 2024 shows an impulse character. However, the impulse could not cross the 50% Fib retraction. Right now, the stock has completed...

WaveMoku

September 4, 2024 On Sep 4, 2024, Asianpaints crossed the Fib 61.8% mark. This sudden surge is attributed to the drop in crude prices, which brings down the cost of raw materials required to make paint. However, since May 2024, Asianpaints has been following the higher high – higher low pattern, which shows that the stock is gaining strength. If Asianpaints...

WaveMoku

September 4, 2024 On Sep 2, 2024, we had posted our analysis of a short-term uptrend in Medplus. Here is the chart we initially published As anticipated by us, Medplus breached the 50%, 61.8% and 78.6% Fib levels in just 2 trading days. From Rs. 685, the stock zoomed to Rs. 729, giving around 6.4% returns. We alerted you right before Medplus took...

WaveMoku

Sep 4, 2024 The upside rally which Nifty began post August 15, 2024, has slowed down in the past 3 days. On Sep 2nd and 3rd Nifty kept hovering around the VWAP on 1, 2, and 4-hour charts. The candles are no longer moving up hugging the upper band of the Bollinger Bands. In fact, they have moved away from the upper band, while the upper band has kept going...

WaveMoku

Sep 3, 2024 On July 31, 2024, we published the expected destination of Wave 3 of PIIND, which was around the 200% Fib level. The chart below shows our previous analysis of PIIND. On Sep 3, 2024, PIIND hit a high of Rs 4630. With this it seems that both Wave 3 and Wave 5 are over, and it is time for a short correction. Once again, we got the levels almost...

WaveMoku

Sep 3, 2024 On June 25, 2024, we published our long-term perspective on Cholafin as shown in the chart below. On that day, the stock made a high of Rs. 1447 and closed around Rs. 1431. However, we anticipated that the right time to take a long position in Cholafin would be when it bounces back from the demand/buy zone we had plotted on the chart. On August...

WaveMoku

Sep 3, 2024 @ 10:20 am Nifty seems to be going up in an ABC wave pattern. However, the momentum is missing. In the current ABC wave, it seems to be forming the B wave downside. After the B wave is complete, the C wave would begin. However, for the C wave to show an upside momentum, it has to first cross and sustain above the 25,300 level. If the C wave...