Shivam_Gaba

Shivam_Gaba

The stock has shown strength lately by not falling during market correction. Now, it can break out in (5) of 3.

Shivam_Gaba

GESHIP - Broken out of a falling wedge structure, looks ready for 5th wave.

Shivam_Gaba

It has a broken above a small base pattern with bullish momentum signals. Wave 5 seems to have started.

Shivam_Gaba

It has retested a multi-year breakout zone and now seems to have broken above a small base pattern. On the Elliott Wave front - it has started Wave 3 up.

Shivam_Gaba

This pattern is not a common but has a good strike rate if correctly identified. The breakout level is close 1020 and projected target is above 1500.

Shivam_Gaba

The PSE index has gone through a decent correction and is now showing early signs of a fifth wave beginning. If so, this sector can outperform the market again.

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It has clearly broken out of falling channel into a fifth wave. Possible targets marked on the chart. Note: This is not a buy/sell Recommendation.

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The Nifty index seems to have completed a Wave IV correction and Wave V is next. It could have already started or may start in coming weeks. The equality levels indicate it going above 27000 in this move. Note- This is a medium-term view.

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Wave 4 retraced almost 50% of the Wave 3. Wave 5 to new highs is possibly starting now.

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An a-b-c correction from the top could be nearing end. A fresh move to new highs may start in the near future.

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Wave 2 of 3: This corrective wave occurred between September 2022 and March 2023, lasting approximately 28 weeks, as highlighted in the chart. Wave 4's Progression: The recent peak in September suggests symmetry in the cycle, mirroring Wave 2's timeline. If Wave 4 matches Wave 2 in duration (around 28 weeks), the current upward movement could still be part of...

Shivam_Gaba Updated 

Reliance Industries has broken out of a big falling channel. The pattern size projection is around 3200. The momentum indicators are bullish across Monthly, Weekly and Daily Timeframes.

Shivam_Gaba Updated 

The S&P 500 is up and running in iii of 3 wave. The equality level is at 4690. The rally should see broad participation from all sectors as speculators continue to unwind from record short positions.

Shivam_Gaba Updated 

A potential for starting next fractal which would be a wave 3 of 3. It is more often than not a very strong move in this part of the Elliott wave structure. The equality level points close to 36300 while the larger 3=1 is around 49000.

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Almost all indices in this layout are showing triangular topping formations. Ending Diagonals in Nifty 50, Nifty 500, Nifty Midcap 100, Nifty IT. B Wave triangles in Nifty Small Cap 100, Bank Nifty, Fin Nifty index. Nifty IT has already broken down of the pattern. Let's see how other charts follow up.

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Yesterday's spike in the CBOE Put/Call Ratio brings it closer to the spikes seen during Covid fall and the December '22 bottom. This is a sign of extreme panic and we could be very near to the bottom in US Equities. SPX as of 4th Oct closing = 4263.76

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It had a clean impulse on the daily chart. Now with 61% retracement done, it would be a good idea to consider Wave 3. Momentum Indicators are bullish on the weekly chart and it has taken a support from 40-week EMA. The candlestick is a hammer pattern as well. Classic example of resistance turned into a support or in other words, breakout and a...

Shivam_Gaba

When the market-wide put call ratio comes out of the bear market range for the first time the rally just keeps getting stronger as seen historically. We are currently doing the same thing.