Wolf-AD7

Wolf-AD7

NIFTY 50 Analysis based on Elliot Wave Theory 1) 5-April-2022 to 17-June-2022: NIFTY 50 formed a 5-wave bearish impulse wave down from 18,100 to 15,175 2) 19-June-2022 to 13-Sept-2022: NIFTY 50 formed a 5-wave bullish impulse wave up from 15,175 to 18,075 3) 18-Aug-2022 to 13-Sept-2022: Waves (4) and (5) of the 5-wave bullish impulse wave were also the...

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NIFTY moving in a broadening wedge since October 2021, with trendlines being heavily respected. This broader wedge coinciding with 0.786 Fib Retracement indicates that 14,900-15,100 may be the bottom. There is a huge supply zone/ bear gap of 200 points between 16,450-16,650 for NIFTY which is the immediate major hurdle. After the continuous down-move since...

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After accumulating within a Darvas Box since August 2021 and a further Triangle since October 2021, Hindustan Aeronautics has given a breakout of the Triangle which is also currently being re-tested. HAL is fundamentally a strong play for the long-run. On the technical side, riskier traders may enter on this Triangle re-test at CMP and hold for breakout of the...

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Dabur has broken up above the descending parallel channel it has been trapped in since September 2021, while also closing above the SuperGuppy resistance. There is also divergence in the RSI and price line. These are bullish signs. Watch for it to hold 560 levels over the next few sessions and look to purchase above 570 for targets of 585 and 600 in the medium term.

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TITAN has given a breakout of the rectangular Darvas Box after consolidation since October 2021. Look to buy on any re-test of the breakout around 2680 levels.

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Hindustan Copper has broken the long-term trendline upwards coupled with an MACD crossover on the Daily Timeframe and breakout in volumes over the past two days. Looks good for short to mid term.

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PowerGrid has broken out of a Bullish Pennant with a big 5% green candle today. This movement coincides with a crossover in the MACD indicator, signaling the commencement of an upward trend.

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Aster DM Healthcare has broken above all its Exponential Moving Averages and has also broken above the Flag formation indicating a bullish move upwards. Watch to enter at levels above the upper trendline of the Flag. A re-test of the upper trendline can also be seen as a buying opportunity.

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Strong downtrend since Nov 2021 within Falling Wedge Pattern. Presently at long-term Trendline support and local support near 41K but 0.786 Fib and Pivot Point S1 supports only at 39K and 37K. Breakout of the Falling Wedge needed to turn BTC bullish. Possible long-wick retracements till 37K and 39K still possible before Trend Reversal can be confirmed.

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Detailed analysis on Bitcoin based on TD-9 sequential, trendlines and pattern indicators provided in the chart text.

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Biocon has been in a strong downtrend since the start of 2021, moving downwards in a distinct falling wedge pattern. The falling wedge has now formed Left and Right shoulders on the 0.5 Fib with a Head further down off the 0.618 Fib. While Biocon strongly broke out of the falling wedge, it has now re-tested the breakout and remains within the forming Inverted...

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Godrej Consumer Products has broken above the falling wedge, having taken support of its 200 day EMA. The stock has now also moved above its 100 day EMA, indicating bullishness ahead, which is confirmed by the bullish divergence between its price and the RSI oscillator.

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Himachal Futuristic (HFCL) has consolidated within a clear bull pennant pattern and finally broken out. Looks bullish in the mid-term, and can be bought on re-test of the upper trendline of the Pennant at levels above 77.

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BTC took a deep dive in the past week, with a long wick testing the formed pennant. However, it managed to close the weekly candle above $48,000, which is now a crucial point to hold taking support off the 50-day moving average as well. BTC needs to close this week (and the coming weeks) above $48,000 to remain bullish.

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BTC has been trading between the given trendlines in a 6-hour chart. If the present candle is unable to close above $60,500, it could be headed down to $58,000.

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$IOTA bottomed out at $0.6 and has taken strong support at $1.00. It has been accumulating within a Bullish Pennant and looks set for a breakout. Buy above $1.43 with Targets of $1.6, $1.75 and $1.95.

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Rounding bottom breakout of the ascending triangle formed in BSE has now re-tested the upper side of the Triangle. If the re-test is sustains, can expect uptrend to resume.

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IDFC First Bank has been in a long period of consolidation that has formed a triangle. Over the past few weeks, such consolidation period can be seen to round off into two smaller bottoms, forming higher lows. 200 EMA support is pushing the stock into a triangle breakout now, which looks good to achieve the charted targets over the next few weeks.