harshit22

harshit22

Looks like wave two has ended at 78.6% fib levels.If my assumptions are correct, we can see a sharp moves from these levels We can also see a morning star at the above fib levels which is a powerful reversal pattern For a detailed explanation on Elliot waves basics, please refer to the following link: investopedia.com/terms/e/elliottwavetheory.asp DISCLAIMER:...

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GRSE - Garden Reach Shipbuilders & Engineers Ltd is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. The stock has just completed its Elliot wave 4and we can see a bounce towards 2000 levels For a detailed...

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BEML Ltd manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces and coaches for the metro and Indian Railways It appears the stock has completed its ABC correction, and it might see a bounce from the current levels to 4200 levels For a detailed explanation on Elliot waves basics,...

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The stock has experienced a significant correction since February 2021, with a decline of nearly 70% from its peak. Notably, I observed an inverted head and shoulders pattern , recognized as a powerful indicator of a potential bottom. This observation led me to conduct a comprehensive technical analysis utilizing Elliott Wave theory. Upon analyzing the...

harshit22

It appears that the stock has recently completed its fourth (4th) wave and is now initiating an upward impulse for the fifth (5th) wave. Currently, it seems we are in the third wave of the concluding fifth wave. From a price action standpoint, a morning star pattern has emerged. This pattern has developed on the monthly time frame, serving as a strong signal...

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Disclaimer: The analysis is only for Educational Purpose. Please consult your financial advisor before taking any investment decision An ABC correction seems to have ended in UPL after a failed 5th wave. Currently it appears to have finished minor wave 2 of wave 3. It has broken a declining trendline with volume near the end point of wave 2 with high volume and...

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Tata Motors recently completed a significant ABC correction, with Wace C finishing during the market crash on election result day. A new impulse wave seems to be underway in the stock, where minor wave 4 ended with a flat correction. This sets up a potential intraday trading opportunity with a favorable risk to reward ratio. The chart indicates entry point, stop...

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It's not easy to identify wave 2 when it is still forming. However, attempting to find its low gives an excellent opportunity w.r.t to Risk Reward. How do we plan our strategy? We can test the waters by getting in with initial 5%-10% of the total amount that we plan for this trade. We can gradually increase our position once we get a confirmation through...

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Apollo Hospital is currently in the major 5th wave of the bull cycle, as illustrated on the chart. It appears that wave 4 took the form of a zigzag pattern, resulting in a deeper correction to 61.8%. Typically, wave 4 corrects to levels between 23-38%, but due to the shallow nature of wave 2, we can anticipate a more profound wave 4 in accordance with the...

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The stock has undergone a correction since 2021 after reaching its all-time high. Upon analyzing the correction, it appears that wave ABC has concluded at the 225 levels. The internal waves within ABC adheres to the Fibonacci ratio, with wave C being approximately 100% of wave A. The stock found support at the minor wave 2 of the major wave 3 from the previous...

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The stock has just finshed minor 4th wave of the major 5th wave. We may see an explsoive move on upside in the form of impulse. The risk reward is very good (~ 1:3.5) The wave counting, entry, stop loss are indicated on the chart Disclaimer : The above analysis is only for educational purpose. Please consult your financial advisor before making any investment...

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For the past four and a half years, the stock has been consolidating. The stock is clearly in the 5th wave. We now need to ascertain our current position within the fifth wave. It made several unsuccessful attempts to surpass the psychological threshold of 1700. The most recent attempt (wave AB) was unsuccessful once more. The way it plummeted to point C after...

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In my previous post, I emphasized that the broader IT Index has the potential to outperform the market as it enters the minor 3rd wave of the major 5th wave. Among the various stocks in the indices, WIPRO appears to have a more favorable technical setup, which could result in a significant gain of approximately 40%-50% over the next 6-8 months. The decision to...

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Vodafone Idea has been on a downward trajectory for almost a decade. Based on the Elliot waves theory, it appears that the stock has completed a significant bear cycle in a ZIG ZAG pattern as shown on the chart. The stock seems to be forming a base with accumulation taking place. Recently, it has exceeded the swing high of 2021 and closed strongly on the monthly...

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Background: Crude Oil made a high of 9996 during the Ukarine war which also marked the end of wave 3. This followed 4th wave with a flat correction (Marked as ABC) which finished at around 5290. Current Scenario : We are in minor wave 3 of sub wave 3 of major wave 5 (shown on chart) Trading Strategy : Buy on Dips. The entry, stop loss & target are mentioned...

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We discussed the difficulties in identifying the low of wave 2 in my previous analysis of Bandhan Bank. However, if we are able to pinpoint that turning point, it presents a favorable risk-to-reward ratio. PVR Inox has been in a consolidation phase or moving sideways for the past four years. Following the low of the COVID crash, it tested the previous swing high....

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IDFC first Bank seems to be in its significant third wave, and it appears that it has finished its fourth minor wave of wave three. Additionally, it has formed a recognizable ABC decline, which concluded with a classic panic selling and an equally dramatic upside pullback, typically occurring at the end of wave C. How can we approach trading this...

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In my previous post, I have discussed the current nature of crude oil as either a correction or an impulse. In either scenario, it is likely that we will witness a bounce towards the 6700 levels. It appears that wave 3 has concluded and we are currently in the 4th wave, which is anticipated to conclude between 6495 and 6415. If we observe any bullish patterns such...