I was reviewing long term EW counts of NIFTY and here is what I think. Overall, I can see potential 2 alternatives and have highlighted them in blue and red respectively. This is a monthly chart. Blue AlternativeLet’s start with blue counts first. Larger degree wave 1 (marked by square blue box) which started from…
Last week Goldman Sachs published a report titles “The Rise of Affluent India” which estimates that the affluent population in India is set to reach 100 million by 2027. The report also highlighted 8 stocks which might benefit from this. They have their fundamental reasons for believing why these stocks might do very well in…
Covering BTC after a long time, last update was in March and then this update is kind of continuation of what I shared in that post. Bitcoin started impulse move from the lows in November 2022. It’s moving nicely in a channel and seem to have completed waves 1 and 2 of larger impulse which…
This is Triveni Engineering (NSE:TRIVENI) quarterly chart. In the chart I have marked the long term impulse wave counts in yellow, and internal fractals in orange (impulses) and red (corrective). It feels really good when you see such clean, textbook wave counts as they reinforce your confidence into Elliott wave theory and it’s practicality. I…
Elliott waves works best on longer timeframes in my experience. Here you can find almost textbook clean EW counts in NSE:BPCL weekly chart. From the October low around 288 last year, BPCL has risen in clean 5 waves impulse, marked as I, followed by a-b-c retracement in wave II. Now, we seen to be in…
Tempting H&S breakdown and retest with high probability EW down impulse development is seen in NSE:ICICIPRULI. Right shoulder fell in 5 waves which is marked as 1/A (either 1 of 1-2-3-4-5 OR A of A-B-C) down followed by a clean 3 wave ABC rise marked as 2/B. Now we are in 3/C down and seem…
I have been following CIGNITITEC since it did a clean 5 wave impulse since May 2022 lows. After the impulse, it did a retracement which completed near previous degree 4th wave in November 2022. From that point, it again did a clean 5 wave impulse up, which I think is just the wave 1 or…
Based on the Elliott wave counts of most cryptos, I think we are in a pullback mode which might continue for few weeks before we see a fresh impulse that could drive the cryptos to new all time highs. Meanwhile, MATIC caught my eye as it looks relatively more bullish as it seem to have…
It has been few weeks before I shared an update. Had been busy on both personal and professional fronts so did not get much time. Moreover, charts too have been quite messed up with large moves on either sides. The worst might be behind us as we seem to have completed complex correction (WXYXZ) in…
DXY has been slowly completing the downward ABC formation and now showing early signs of reversal from the low made on 14th December at 103.448. Of the ABC formation, last leg C was was an impulse (shown as i-ii-iii-iv-v) and v was an ending diagonal which should have completed the down move. If I am…