As per long term elliott wave analysis (In red line) Nifty is in Deep correction and currently wave C is unwinding
The first 2 waves of wave C (In blue lines) are done and NIFTY is headed for a sharper wave 3 decline
as per fib Extensions - probable Targets of NIFTY on down side are 8700 and 8211
Post 8211 - Nifty would take a pause and would then continue the...
I Am in the initial phases of learning elliott wave techniques
Below is the view for the current stock
Long term - the stock is currently in the 5th wave
Medium Term - the stock is in the third wave
Short term - the stock is currently in the 4th sub-wave of the larger 3rd wave
Would shortly commence with the 5th wave from the current levels
Buy levels are...
Have observed a complete Elliott wave bull cycle (1-2-3-4-5)
Stock is ready for bear cycle (A-B-C) from the current levels.
Target 436 on the short side
Time frame for reaching target - Minimum 4 candles max 12 candles (60 to 180 minutes)
If the stock doesn't open gap down - then the opportunity is huge.
This is my first Elliott wave analysis - kindly do not...
Britannia is attempting to break down on the hourly chart pattern.
Since Nifty has formed all time low - Britannia is moving upwards
Once the stock breaks below 2800 levels, the stock is expected to drop till 2720 which would be the first target.
breaking 2800 means the candle should close below 2800 on a minimum of 15 Minutes time frame
**Please do not trade...