theprofityogi

theprofityogi

The current fall in GOLD is Zig-zag in nature. The fall may continue upto 61.8% However, this is wave A of Zig-zag. Wave B may lead the Gold price up for some extend. But ultimately it will come to 61.8% forming wave C. This analysis is based on Elliott Wave theory. This analysis is for educational purpose only.

theprofityogi

If we count a single leg for NIFTY, (recent move), we can see Flat Correction. Wave B is returning from the golden ratio of 61.8% We will use the Fib extension to find the target of wave C. We can see that the minimum target of 61.8% has already been crossed. Price now moving for the Rule of equality i.e. 100%. But we can see several Fib clusters near the price...

theprofityogi

If recent low is not broken, short term uptrend above 24255.75 level. The maximum target for this up move is 25046.75 For educational purposes only.

theprofityogi

I have already posted about todyas fall beforehand. Now if today's low is broken the next target for NIFTY will be 23651.

theprofityogi

Nifty crossed the minimum target of Zig-zag 61.8%. Next targets opened now. 23953.40 and 23651.05 are further targets.

theprofityogi

As the 127% level is broken in NIFTY, it shows that wave B of Zig-zag has completed near 38.2% and now wave C of Zig-zag is forming. This fall will go minimum up to 24255.

theprofityogi

As we can see in the daily chart of KOTAKBANK, wave C of Flat Correction has reached 100% extension (which fulfills the rule of equality). The previous impulse also has a 50% retracement level around the same point, giving us a perfect cluster. Now, can we directly buy around this level? The answer is simple. Suppose the recent low,1735, is broken, and the stock...

theprofityogi

NIFTY has clear indication now that wave c of wave B is under formation. The recent down move has not touched 127% level, so this down move was clearly wave b of wave B. Now if we use fib extension for target of wave c of wave B, we get cluster around 25422 and 25416 level, where 161.8% extension of wave c and 50% retracement of bigger wave A (which is the maximum...

theprofityogi

A low-risk high probability buying setup is forming in RELIANCE. Price is taking support at the cluster of 38.2% retracement, 100% extension of Flat correction, and trendline in red. If the price enters and sustains in the blue channel, showing bullish pressure, it will provide a good buying opportunity with a stop loss below the recent low.

theprofityogi

NIFTY is standing at crucial point. Here are two possibilities that will decide further move of NIFTY. 1. If price breaks down to 24548.65 level, it will be confirmed that wave C of Zig-zag has started and this move will go minimum up to 24255.75. 2. If price takes support near 24635 (or just say, reverses from anywhere without touching 24548.65) it will be...

theprofityogi

Wave C of Flat correction has fulfilled the rule of equality (Wave A and Wave C are equal). There is also a Fib level of fib retracement of the previous impulse at this level. We can also see the Morning Star pattern forming at this cluster. This suggests a high probability of a buy trade in HINDPETRO . Stop-loss for this trade can be put below 61.8%, i.e.,...

theprofityogi

If the recent of Nifty holds and market goes up, it will go maximum of 50% of recent fall. Here, recent fall is considered as wave A of Zig-zag. Hence xurr reversal is wave B of it, and maximum target for this wave B is 50% of wave A. This analysis is for educational purpose only.

theprofityogi

Irregular Flat Correction in SUZLON ENERGY. The minimum target of wave C is completed, which gives a risky buying level of around 72.50 to 74.50. If the level of 72.10 is broken below, wave C will extend to its next target of 67.45. This analysis is for educational purpose only.

theprofityogi

According to Elliott Wave analysis, ONGC looks into last phase of its short term down move. After trending impulse, the stock is into Flat Correction. Wave C of Flat correction should have 5 moves in it. And we can see 4 moves until now. So we can say ONGC is in wave 4 of wave C of Flat correction. ONGC may go further down a little more to form wave 5 of wave C....

theprofityogi

Classical example of Elliott wave. Wave 2 retraced to 61.8% forming Flat correction. Wave 3 extended to 161.8% forming a normal or trending impulse. Then wave 4 retraced to 23.6% in Zig-zag form. (This fulfilled the Rule of Alternation) Wave 5 retraced exactly to its minimum target of 127% retracement. Where cluster of 200% extension was also there. Wave 5...