Disclaimer: These posts are meant for education purpose only. Do your own due diligence for buy/sell decisions.
NIFTY seem to have started wave C of ABC down. At the minimum, we should be looking at 23000 target which is 61.8% of wave A. 78.6% and 100% (equality) are around 225000 and 22000 respectively. Having said that, wave C might evolve differently though the trend should remain down largely from here. Expecting all…
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…
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…
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…
MANAKSTEEL (Manaksia Steels) has broken out in WTF with good volumes. In last 2 weeks, stock has already moved nearly 60% up but still there is room to go further up. If I take the breakout from the previous swing close (instead of high) as a more conservative target then it comes around to 99….
GATEWAY seem to be breaking out with good volumes. The last major swing high was made by the stock in the first quarter of 2015 so this is a fairly long term breakout. If it sustains, it could be a very rewarding trade. Having said that, this is weekly chart and the candle is still…
SAKUMA has given a breakout in weekly chart with good volumes and currently trading around 52 week ATH. Weekly close is above the swing highs in September’23 and December’22. Wick at the top of the candle isn’t very reassuring however its not too bad as well. Further, given that the volume is very good at…
NSE:BANDHANBANK (Bandhan Bank) has given a strong breakout from a triangle formation with good volumes in today’s session. It looks like a descending triangle but the breakout has occurred on the upside. Volumes look good as well. Height of the formation gives a 25% move and the stock closed 4.4% up today from the upper…
Amazon has formed an inverse head & shoulders pattern which has bullish implications but there is a sustainable breakout. Given the good results in past few quarters, fundamentals also support the bullish view. Having said that, recessionary fears are here to stay though it might still be some time before something starts showing up in…