Dollar index is moving as per the previous updates with a minor change. What we earlier thought to be wave 3 and 4 turned out to be extensions, i.e. another wave 1 and 2. Essentially, we are going to do something like 1-2-1-2-3-4-3-4-5 (9 legs in total). There can be further extensions too but let’s…
In weekly chart of Deepak Nitrite (DEEPAKNTR), we can clearly see a bullish falling wedge pattern. There had been a breakout followed by a retest. We got a positive close this week with a strong 8% weekly rise in a weak market. As per classic TA, the size of the up move should be at…
Ethereum has been moving as per my previous post in 5 waves down impulse. 3rd wave has sub-divided and we currently seem to be in wave iv which is forming a triangle. We should be close to completing wave iv, following which we will get wave v and ETH should complete the wave 3 down….
Mahindra & Mahindra Finance (M&MFIN) has formed a bullish head and shoulder pattern in monthly chart. Last Friday, it tested the neckline after breaking out. Volumes are missing on breakout so it doesn’t give much confidence. Plus, given the current market conditions, I wouldn’t be surprised if it turns out be a failed pattern since…
Indian Hotels (INDHOTEL) seem to have completed 5 waves up in weekly chart which started around mid June this year. Now we may be on verge on starting corrective wave. Daily chart signals that correction from here may already have started since I can see lower highs and lower low formation in daily. So how…
Some more room for dollar index (DXY) to go up. As per wave equality (wave i and iii), 112 should be the minimum. DXY is trading around 111.720 as on writing this. Refer to the chart below for wave counts. Equities to remain down till minor wave iv starts. Note that it would be short…
SPX has formed a bearish head and shoulder (H&S) pattern in daily and neckline has been broken. Yesterday, it tried to retest the neckline but failed. It might still try to do it and in the process may waste some time but once it continues down, it could go near 3500 as per the height…
It might be too early to say but looks like dollar index may have completed minor wave ii of larger wave 3 and we might be starting minor wave iii of 3 from here. We’ll look for the following confirmations. Positive close for today. Break of wave i high, i.e. 110.260. Final confirmation would be…
Monthly chart of the stock. From covid lows of 31.65, it completed wave 1 at 171.70 in clear 5 waves up. Did a retracement of slightly more than 50% in wave 2 around 95.45. After breaking the wave 1 high this week, now the stock seem to have started larger wave 3. We are now…
ETH has broken the wave 1 down’s low so we are now in wave iii of larger wave 3 down, which should be followed by wave 4 bounce and wave 5 down continuation. As per waves equality, wave 3 will be equal to wave 1 around 1250. So that’s the minimum we’re expecting though wave…