NIFTY50 gave a monthly negative close after a clear 5 wave rise. Does it mean we are going to see a crash or it might be just a regular pullback? In this video, I have covered both alternatives with possible levels to watch out for.
NASDAQ has finally started giving confirmation of down-move with weekly negative close and a strong bearish engulfing. We might see a pullback in wave 2/B early next week after which down-move should continue. Watch the video for levels and more details.
NASDAQ 100 has completed X wave and should now head down towards 17000 in weeks to come.
RELIANCE seem to have formed H&S formation. Structure is tilted on the left and has formed over a long period (~10 months). Finally the structure seem to have completed though the price is still trying to bounce from the neckline. Today we have an evening star kind of formation which might push the price towards neckline…
MSFT has fallen in 5 waved from the top made in July and in process of retracing that down-move in ABC. The fall from top could be either a larger degree wave 1 or wave A. In both cases, soon wave 3 or C down should start since the wave 2/B has completed 61.8% retracement which…
NSE:GOKULAGRO seem to have started major wave 3 as per this monthly chart. Wave 3 has already surpassed the wave 1 high. Rarely do we see such clean wave structure. You can see the wave 1 counts, including internal wave counts, very clearly. Stock is trading at 235 right now and as per wave equality…
Bhansali Engineering Polymers (NSE:BEPL) has given a breakout in monthly chart with decent volumes. This was caught by my breakout scanner. A quick look revealed that this breakout is supported by Elliott Wave counts. Counts marked in green are the primary wave counts in this case. Numerical counts in blue are the internal wave counts…
Here is the monthly chart of MBL Infrastructure (NSE:MBLINFRA). It caught my eye due to a large move this month with great volumes. What’s more interesting is that the structure of the stock looks “textbook” example of Elliott Waves. Long term counts are marked in green with a circle around counts. Intermediate counts are in…
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…
In the above weekly chart of Snowman Logistics (SNOWMAN), we can see H&S (Head and Shoulders) pattern formation over a period of nearly 7 years and now it has broken out from the pattern. Re-test of the neckline also seem to have been done in last few weeks and neckline provided good support. If we…