Timeframe: Daily NSE EICHER motors have accomplished the corrective wave (4) and started forming impulsive waves (5). The price is currently forming sub-waves of the impulsive waves (5). Wave (2) was a sharp zigzag, so wave (4) formed the choppy structure triangle. Since wave (3) was an extensive wave, we cannot expect wave (5) to extend with a high...
Timeframe: 8h Price started to form impulsive wave C after Bajaj Finserv completed correction wave B. There is also the possibility of altering the count with W-X-Y. Wave (b) retraced 50% of wave (a), which signals intense supply pressure. If the price breaks wave (a) at 1621, traders can sell for the following targets: 1594 – 1569 – 1549 . Calculations are...
Gold has accomplished the final correction wave (Y) of wave ((B)) and has begun to form sub-waves of the corrective wave ((C)). Currently, the price is at 100 EMA & the lower band of the parallel channel. It appears that the movement of gold is being dominated by bears, as it is making lower lows and lower highs. If the price breaks down the parallel channel,...
Nifty is forming in a descending parallel channel. Prices are building corrective pullbacks to manage demand pressure and fall from resistance since the start of the correction. Nifty has created a lower low at 15183 and given an upward move of 15927 . Nifty has faced supply pressure on the upper band three times. It indicates that bulls are not exceeding...
Nifty has made a wammie bottom on the 4-hour timeframe chart. It is forming on the descending channel. Currently, Nifty is facing resistance on the upper band of the descending channel. There is a strong resistance as well as a confluence zone of 16400 . If nifty breaks the resistance level of 16400, it will be confirmation of an upward march for 16518 – 16708...
---------- Timeframe: Monthly---------- After making an all-time high(ATH) in 1838 , prices have started collapsing to correct the previous move. The fair value area has given two resistance on the upper band, and four supports on the lower band of the channel. Excess is showing that sellers are very aggressive with their inconvenience levels. Key Level...
Cipla has formed a downtrend channel for two months. Prices are moving below 200 EMA , which indicates a bearish atmosphere. We can see a downtrend channel on the 4-hou r timeframe chart. Currently, the price has taken support at the lower band of the parallel channel. It has made a range at 938. If the price sustains above 938 , It can touch the upper band of...
As per the chart above, nifty entered into the support trendline again. That's clear sign bulls are stepping in. If it remains above the support trendline on Monday, we can expect target levels of 16490 - 16580 - 16680 . It could skyrocket up to 17000 level. And if it breaks the support trendline, then a downtrend will begin. What will happen in a downtrend?...
Bull Gateway: 1852 Gold spot has created three consecutive positive bars in the last 25 trading sessions (36 days) for the first time. And it's above 200 MA. That's a good sign for buyers! If gold breaks the parallel channel, my upside targets are 1866 - 1882 - 1906 - 1920 . But, it hasn't broken the parallel channel in the last trading session. It's at the...
Axis bank has been in the consolidation phase for more than 15 months. Prices fall rapidly after the crossover of 50 & 200 EMA . We can draw two control lines which can be helpful for target measurement. If the price enters into the parallel channel, and after retracement sustains above 680 , traders can trade for the following target of 692 - 714 - 752 ....
According to EWT: 5th wave has already traveled for more than 2.618% reverse Fibonacci retracement of wave 4. Now, bullish momentum can push it up to 136 at 3.618% .
Pokarna has completed its impulsive wave c of the corrective wave ((4)). Wave C has traveled 100% Fibonacci extension of wave A at 548 . Currently, the price has broken down the A wave at 585. If it sustains below 585 , traders can expect the following targets: 558 - 536 - 505 . 505 is strong support because corrective wave 4 accomplish near the corrective...
The stock market has started recovering. Still, there's a big question, is Russia and Ukraine war over yet? Start investing during stock market uncertainty using Elliott Wave Projection. It looks like ASTRAL has accomplished the corrective structure and started forming motive waves. Price has ceased the sub-wave 5 of motive wave ((c)), and the length of wave (A)...
Key Level: 4475 & 5013 Apollo hospital had completed Impulsive wave ((3)) at 5935 and started corrective wave ((4)). If the price breaks the H-line , traders can sell for the following target: 4437 - 4356 - 4239 below. These are the price levels where the price can u-turn for an impulsive wave ((5)). A corrective wave is the construction of a three-wave...
Key Level: 824 & 853 Adani Port has broken down the corrective wave X and started forming an impulse wave ((5)). Price had broken down the 8-month-old correction, and Adani Port surged rapidly. Adani Port can u-turn from 1.618% at 1049 . It is a reverse Fibonacci of wave ((4)). Currently, the price is at the 78.6 % reverse Fibonacci level at 853. If Adani...
In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward? To identify uptrend: There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line. According to the above chart, Gold is forming a bullish flag pattern. And we're...
SAIL has been forming descending channels for more than 47 weeks . It has accomplished corrective structure((4)) at 61.8% of wave ((3)). Wave ((4)) is a double combination pattern. After creating a low of 84.35, the price started marching upward. If the price breaks out of the corrective channel, traders can trade for the following levels: 123 - 143 - 162+
Bajaj Finserv has started it's final bearish, where we have seen a speculative boom downside. After breaking 50 & 200 EMAs , it started falling for wave Z . Traders can expect the following targets: 14631 - 14449 - 14176 . The Control line will work as a hurdle for intraday traders. Bajaj Finserv has formed in the descending channel for more than 27 weeks...