pankajarora232

pankajarora232 Updated 

Hang Seng tech is finally getting ready for Wave 3. To play safe, we'll consider it as a corrective move, which can also go till 5700: ~50% from here. If it turns out to be Wave 3, then long way to go. One step at a time - Let's wait for the trendline (black) to break. Disclaimer: Have position in ETF - MAHKTECH

pankajarora232

Gulpoly had a strong run post Covid - part of the chemical stack. EPS has started improving in June results. Expecting the correction in wave 2 to be over anytime soon, and a major run up in Wave 3 to start. It might test patience in short term, but the results should be sweeter.

pankajarora232

For India to become to grow Energy Independence will be the key lever. It starts from expanding Upstream capacity in Oil - which is where HindOil plays. We are in 3 of Long term (Monthly) and 3 of mid term (weekly) with 3 of short term (daily) just finished. Look for reversal signals to enter and enjoy the ride. Short term target 415. No SL required - ride till 2030. :)

pankajarora232 Updated 

HSTECH has gone through a deep correction in last few years. My wave counts suggest that the bottom has been made and it's the beginning of the next leg up/ or at least a big enough pullback of the entire fall - in any case a good bullish trade. We have completed Wave 1 and 2 and Wave 3 has begun. Within wave 3, just minor 1 has been done and wave 2 correction...

pankajarora232 Updated 

HSTECH has gone through a deep correction in last few years. My wave counts suggest that the bottom has been made and it's the beginning of the next leg up/ or at least a big enough pullback of the entire fall - in any case a good bullish trade. We have completed Wave 1 and 2 and Wave 3 has begun. Within wave 3, just minor 1 and 2 have been done and we are in 3...

pankajarora232 Updated 

Nasdaq has done really well in last 15 months - rallied 70% since Jan '23 and 30% since Oct '23. EW counts suggest that we are close to the end of a weekly impulse. There are 2 alternatives counts - however, my bias is with the blue one, which suggests that there is a correction around the corner. Reason is that there is a topping structure on daily...

pankajarora232 Updated 

Silver had a strong run up till 86k, after which profit booking was seen which brought it down till 83k. Now, pull back of the first wave of profit booking seems complete, which gives another opportunity to take a short trade.

pankajarora232 Updated 

A 1:1 movement (on Daily) has completed with a rising wedge in the end. Expecting a 1.5-2k point pull back to start with. A very good RR trade. :)

pankajarora232

The current market cycle looks eerily similar to the 2005 - 2010 era. Dow started going up after the last rate hike in expectation of a rate cut and eventually peaked around the time the cut started i.e. Sep 2007. Very similar behaviour is evident in current cycle where market has been rising since the last rate hike. If the Fed cut is expected in June 2024, then...