Get started

Elliotwaveanalysis

Larsen&Toubro should be soon at the INR 4k markThe stock looking to move towards the INR 4000-4150 zone in wave "III" structure. The stock was previously in a Wave "I" structure between Oct end till Dec end. The correction to the wave I in the form of wave II was a mere 23.8% retracement of the first wave and lasted for a mere 3 days. This a reflection of strength in the stock. The stock is also the 5Th best performing stock in the Nifty 50 index in the Year 2023,and the same strength can be again witnesses in these shallow retracements. Wave i of III has already been spotted on the stock and now it looks to complete the rest of the Wave III towards the INR 4150 mark. On the downside INR 3400 is a crucial area and should be considered as "sl" for all sorts of longs initiated on the stock from here on.
NSE:LTLong
by neeraj_2_sharma
Balaji Amines Ltd. Elliott Wave Analysis - Weekly LogarithmicBalaji Amines Ltd. Elliott Wave Analysis - Weekly Logarithmic Chart The analysis is based on a weekly time frame using a logarithmic chart for Balaji Amines Ltd. The Elliott Wave count reveals a fascinating pattern that can provide insights into potential future price movements. However, it's essential to remember that all trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider the inherent uncertainties in financial markets. Wave Count: Wave 1 (Nov 2010): The first wave appears to have completed in November 2010, closing at 57.85. This initial bullish move signaled the beginning of an upward trend. Wave 2 ABC Correction (Aug 2013): A corrective ABC pattern followed, completing in August 2013 with a low of 28.05. This retracement set the stage for the next bullish wave. Wave 3 (Jan 2018): Wave 3 unfolded with remarkable strength, reaching its peak in January 2018 at a high price of 782. This phase demonstrated the powerful momentum characteristic of third waves. Target for Wave (3): The projected target for Wave 3 is at 10267, based on traditional Elliott Wave analysis, indicating the potential magnitude of the bullish move. Wave 4 ABC Correction (Mar 2020): The onset of the COVID-19 crash marked the completion of an ABC correction for wave 4, concluding in March 2020 with a low of 200. The market's response to the pandemic created a significant correction. Wave 5 (Sep 2021): Wave 5, the final wave of smaller degree, reached its zenith in September 2021, with the stock achieving a high of 5223.55. This completed the five waves of minor degree, establishing a primary degree (1) in September 2021. Current Scenario: Post the completion of Wave 5, the stock transitioned into a bearish phase, undergoing an ABC correction near 1880 with a retracement exceeding 61.8%. This correction suggests a significant pullback, indicating a potential change in the overall trend. Invalidation Level: The bullish scenario would be invalidated if the stock price falls below the critical level of 1880, signaling potential weakness in the overall Elliott Wave structure. Disclaimer: This Elliott Wave analysis is speculative and based on historical price movements. Market dynamics can change, and unforeseen events may impact stock prices. It's crucial for investors to conduct their own research, consider multiple factors, and, if necessary, consult with financial professionals before making any investment decisions. Trading and investing always involve risks, and past performance is not indicative of future results.
NSE:BALAMINES
by imkhushal
Aussie Makes A January Pause; Bullish After Correction Is DoneAussie has been bearish in the first part of 2023, but notice that pair might have completed deeper three-wave decline on a daily chart, followed by a current nice turn-up with higher highs and higher swing lows shown on 4h time frame, where price also recovered out of a big downward corrective channel, connected from 2023 highs. That said, I assume that a bottom can be forming. In fact, we can see a nice five-wave bullish impulse in the 4-hour chart, which is a strong signal that bulls are back on track, but keep in mind that nothing moves in a straight line and that pair can be making an A-B-C pullback now in January as intraday weakness from 0.6880 looks like a first wave A of a three wave retracement. Ideally, pair will stabilize around 0.660 area where daily trendline can become a nice support for the current higher degree wave 2. Also, RBA is much more hawkish than the FED, RBA even considered a 25bp increase so there are speculations for FED to cut rates this year. So this is definitely something that can keep Aussie uptrend alive. Dont forget on NFP today! Trade well, Grega
by ew-forecast
Bitcoin Turns Down For Deeper Correction. Strong Support At 40k.Stocks are coming down at the start of January as some portfolio adjustments and profit-taking occurs at the start of a new year to avoid 2023 tax year. We can also see some dollar rally, but normally these flows at the start of the year are temporary and can be reversed later this month when flows will normalize. We also have a FED minutes today, but US PMI and NFP much more important this week I think. Looking at bitcoin, its coming sharply down on speculation that SEC will reject ETF. Some nice support is at 40k.
BITSTAMP:BTCUSD
by ew-forecast
Price Action shows a-wave advance topping, b and c-waves to comeThere is no doubt the rally off the October 2023 low has very little distinguishable structure to it. However the MACD indicator has made a new high so we DO NOT have negative divergence telling me, we will get a downward retracement, but this recent rally is not done to the upside. For this advance to top in a more sustainable fashion, we would be rallying on negative divergence. Therefore the blue pathway for price is the higher probability. Since the SPX has not made a new high, I am still carrying the black pathway on the chart as it valid below the ATH.
SP:SPX
by maikisch
TRADE_SETUP_10% upside in ABBThe stock can be seen moving up in an Elliot wave structure from Oct end bottom. Wave I completed in Oct-Nov followed by a 38% retracement and then Wave III completed in Nov-Dec followed by a deeper 50% retracement. Now the Wave V has begun in the stock from Dec 21.This particular wave also can be seen sub-dividing into minor waves like the previous 2 impulsive waves. Currently we at the wave ii of Wave V and waves iii, iv and v of V are yet to unfold. The projected final target for Wave V is projected to be around INR5100-5150. On the downside the low of 4529 is crucial and should be considered as an important swing low for all buys. Note*- Views are based on personal opinions/observations. Please do your own research/analysis before making any trading/investing decisions.
NSE:ABBLong
by neeraj_2_sharma
Dr.Reddy's to move into the INR6000-6200 zone in Wave V of 3This Pharma giant has outperformed Nifty 50 in the entire 2023. Starting from Jan.2023 the stock has been making clean and strong impulse moves and easily beating the index returns for the entire year. The stock completed wave I of 3 between Jan-May 2023 and completed the wave III of 3 subsequently between May-Aug 2023. Between Aug-Oct 2023 the stock was in a complex wave IV correction and came out of the same with wave i of V of 3 in month of Nov. The stock now has a minimum of three legs pending to the upside in order to complete the wave V of 3. The remaining legs should be considered as minor sub-divisions of the Wave V itself. The stock is projected going into the INR 6000-6200 zone from current levels in the coming moves. On the downside the low of INR 5471 remains a crucial support. At current levels the stock offers an attractive RR of more than 1:3. Note*- Views are based on personal observations and opinions. Do your own research before making any trading/investing decisions.
NSE:DRREDDYLong
by neeraj_2_sharma
GOLD, will we see a pullback this week?So far gold dropped nearly 8% from the new ATH without any significant pullback, bringing a lot of money to market makers, who created the fake move. At some point a pullback should happen, but it's hard to tell when. The first structure support at 2000 was already violated today and we reached to 50% retracement within a really short period of time considering how long the move up took (which was also impulsive in my mind). According to my last analysis I am still waiting for a correctional B wave to be formed, which would make it possible for us to 1. Get a short position. 2. Calculate timing and goal for a possible wave two target area. At this point it is impossible to tell where a wave B could find it's highest point, but there are important resistance areas to mention: 2004 - 2010, 2028 - 2033 and 2044 - 2052 Only a price close above 2080 can form an impulse for higher prices. The support areas for buying a possible pullbacks are: 1971 - 1977 and 1932 - 1939 We already reached the first support, having a confluence with the 50% fib retracement.
FOREXCOM:XAUUSDLong
by Kyrean