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Elliottwaveprojection

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
XAUUSD | Expanded Flat W2 CorrectionMy thesis regarding gold is simple—an Expanded Flat correction for Wave 2. The primary rationale for this determination lies within the retracement on completion of the initial 5-Wave move up on completion of WA. From my perspective, this retracement exhibited insufficient depth to be counted as a W2. Reverting to what I call the Elliott Wave Theory paradox, if it is not a W2, it must be a WB. Therefore, the following move completed WC of WB, with PA now residing in W1 of WC of an Expanded Flat which is forming as W2. I expect PA to push to the 1.618 FIB to confirm that the bottom is in before launch. Safe Trading.
FOREXCOM:XAUUSDShort
by JMSBurton
9
MATIC HEAD AND SHOULDERS PATTERN MACRO OUTLOOK TARGET 1.50-1.70Exposing the Elliot Wave count and Head and Shoulders Pattern in MATIC/USDT chart. We can clearly see a resistance level recently broken and bactested. These are strengh signs and should push MATIC towards the 1.50-1.70 area level quite fast in the upcoming weeks. Projection: Between January up to early mid February to reach the target. Long Position open at 0,9660. Riding the wave up to 1.50. SWING TRADE or low leverage position.
MLong
by xReve
4
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
KALPA-TARU can give 25% returns in short term!!The stock is currently in wave iii of III which is projected moving towards INR 895-910 zone. 'Wave I' unfolded in the stock from June-Oct 2023 and then the price witnessed a 50% retracement of the wave I in 'wave II' through the months of OCT-NOV. The stock is now going for the completion of the 'Wave III' target of INR 895 but the 'Wave III' is sub-diving into minor waves. We could see a 'wave i' of Wave III in late Nov and a subsequent 70% retracement of the same through Dec. Leaving aside the Elliot-wave counts and structure, the stock is also now attempting to go past a very strong supply/resistance zone of 695-710. The stock has made 3 attempts to clear above the zone in the past but not managed to do so but this time around the extra-ordinarily high volume could help. KPIL closed with a massive +7.85% gain along with nearly 30 fold increase in average daily volume.
NSE:KPILLong
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
TRADE_SETUP_DABUR 10% MOVE IS STARTING NOW!This FMCG stock is spotted completing a complex triple three(WXYXZ)correction to a prior leading diagonal wave 1 that it had developed between October-Dec.2023. The stock has made a 50% retracement of the 'wave 1' rise during the complex correction in the past three weeks. Now that the corrective wave is nearing its end(or already ended), the stock should be expected to make a ''U-turn" from current levels and should attempt to move towards the INR 580 mark in coming weeks/months. INR 520 can be used as an "SL" on the downside. At current levels, the stocks offers an attractive risk reward of 1:5 for a short term trade. Note*- Views are based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
NSE:DABURLong
by neeraj_2_sharma
AUDNZD: Bullish Leg continuation?From a technical point of view, the FX:AUDUSD pair is very interesting and attractive, especially on a lower time frame. If we look at 1H chart we see that the pair completed 12345 bearish impulse structure (or part of corrective structure) and subsequently triggered reaction from wave 5. From our point of view, it should be correct to try to take a long position on pullback with Target 1 around to 1,078. Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
2
Crude Oil Is Looking For A RecoveryCrude oil is coming down now making five subwaves down from 80.00 so there can be some support not far away as higher degree corrective decline from October highs can come to an end soon. There is also a potential leading diagonal, which is a bearish structure, but still suggests that the market can stabilize a bit. RSI divergence also suggests that bears are losing strength. However, any short-term low is not confirmed, unless we see an impulsive move back above 72.60. But if you look at the current price move, we can already see price turning sharply today, which can be an indication for a higher rally.
NYMEX:CLG2024Long
by ew-forecast
#CADJPY Elliott wave analysishello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY. If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A). Now that the price reached the top unless we are witnessing a running flat we can expect that the bullish move as wave B is also reached its destination and from now we can wait for the wave C to be completed. Initial target would be the previous low if we assume that this large corrective formation is regular flat. For opening a position in case you want to use candle stick patterns you can wait for the weekly close and see if price formed evening star which seems possible. Other than that you can always wait for price to penetrate the previous low or perhaps triggers can be found in lower time frame and following the lower time structure. Also it should be noted that in case price close above last week high or close above resistance level this wave analysis is invalid. Please let me know if you like this kind of long term analysis.
Short
by mohemati
5
A Rocket Called Bitcoin Will Take Off SoonSince the beginning of 2023, the price of Bitcoin has risen significantly relative to other asset classes, demonstrating once again to Wall Street that “digital gold” should not be discounted even despite legal battles with FTX and Binance. Moreover, in recent weeks, we have seen strong momentum in Bitcoin, bouncing off support with ease even in the face of criticism from US Senator Elizabeth Warren, who is attempting to impose tighter restrictions on many aspects of crypto. From a technical analysis perspective, we believe that the impulse wave marked on the chart as (3) was completed on December 8, 2023. After which a corrective wave (4) began, which will end in the range of $37,800-$38,200 per BTC, which is a potential opportunity to consider opening a long position ahead of its halving in April 2024. After the end of the correction, the first stop for digital gold that we highlight is $49,500-$50,000. On a more global scale, we expect its price to reach $110,000 in 2024. What are we doing? Considering the significant decline in natural gas prices in recent months and its high reserves in the US and Europe, we believe this will also positively impact the margins of mining companies such as RIOT and HUT8. We plan to open a long position in RIOT when its price reaches $11.8-$12 per share. Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community! Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
BITFINEX:BTCUSDLong
by AisenQuantum
1
Bitcoin Steps Into Temproary Corrective PhaseBitcoin is coming higher this year, moving very sharply through 2023, after a period of a consolidation that has been in play since March till Avgust of this year. We can see a nice and strong rise now, with some sharp extensions above daily base channel resistance lines and 40k area, so we assume that more upside can be seen as recovery is acting like an impulse. As such, be aware of further gains within a five-wave cycle for wave (C)/(III) up to around 48k - 50k area. Looking at the 4-hour chart, we can see some slow down in last few days after Jamie Dimon comments and ahead of US CPI data. But we think it's just a wave 4 correction, where first support can be already at the EW channel support line and 40k area, but price action may stay slow then within a potential sideways bullish triangle pattern. However, ahead of US CPI and interest rate decision this week, be also aware of a deeper correction to 38k - 34k support zone, if the price breaks out of Elliott wave channel.
BITFINEX:BTCUSD
by ew-forecast
2