neeraj_2_sharma

neeraj_2_sharma Updated 

A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse. The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase. Now, however after having completed the correction the stock is set to move up again in 'wave iii'...

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Silver broke out of corrective triple three pattern after having risen in an impulsive wave 1 starting Oct.3 ending Oct.20. Talking of chart patterns the commodity also broke out of the falling wedge chart pattern. Other than a minor pullback on hourly/half hourly chart there should not be much resistance for this commodity to quicky achieve its projected wave 3...

neeraj_2_sharma Updated 

The commodities are all set to rise with DXY going into downtrend. Gold like others had also displayed impulsive wave 1 structure and was undergoing wave 2 correction. The correction was an Elliot wave zig zag and the bottom of this ABC correction was formed on 13Nov.The correction achieved a 38.2% retracement of the Wave 1 rise. The wave 3 is now unfolding(keep...

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It was noticed that the stock has been in an bottoming and accumulation phase for more than 2 years starting Aug 2021 till date. During this 2 year phase the stock attempted to go beyond the INR 40 mark but the same proved to be a strong supply/resistance zone for the stock preventing it from going higher(though few spikes/tails managed to pierce it a few...

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Did you come across several media reports, individuals and others betting on the crash of US economy and how everything will collapse. Here is a quote by Sir John Templeton - "bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria". So one can understand with the growing amount of pessimism all around as to which phase of...

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The Saudi National Bank is the largest commercial bank in Saudi Arabia. The share of the bank saw a rise in the form of a wave 1 in march of 2023 from the bottom and then a subsequent 80% retracement of the same from July till oct 2023. The share has now kicked off in the new wave 3 structure. Since the wave 2 retracement was very deep, it opens up the...

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The stock has been so far seen making neat impulse up moves from march 2023 onwards. The recent sell off from the top(Aug. 2023) seems to be the 4th wave for the stock and now the stock should shortly begin the 5th wave up towards 210 in coming few weeks. The stock has also been outperforming both nifty 50 and nifty 500 over the year 2023. sl 148 target...

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The good old support and resistance play ongoing in Britannia. The stock first broke out on Nov.7 from a 2 month old resistance zone of INR 4600-4650.It has then again tested the same breakout level on Tuesday's trading session. This retest seems to have re-energized the engines of this stock that is cruising forwards quite strong from past 2-trading sessions. ...

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The company just announced an increase in Net Profit by 56% as to beat all market expectations. The wave V of 3 should get triggered with this news flow and the stock has shown a massive volume spike in past half hour. sl 116.8 target 135

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The ITC stock now has been consolidating for more than 2 weeks at a very strong support/demand zone of INR430-435. This particular S/R zone is an active zone for the stock since May 2023, acting as support and resistance on several occasions since May. There was a slight breach of the zone in Oct.end which was successfully reversed by the excess demand hence...

neeraj_2_sharma Updated 

Stock is attempting to reverse from a one and a half year old downtrend. The volume has picked up in past 2 days and 300 level has provided a crucial support for the stock. If the stock consolidates for a day or two, or if it pulls back a bit on smaller timeframes, it would provide good opportunity to accumulate it. CMP 323 SL 290 TARGET 1 - 385 Target 2 - 460

neeraj_2_sharma Updated 

The stock is in a ascending triangle setup on weekly timeframe. The 90-95 zone has been providing some resistance for the stock since 2021 and preventing it from launching above the INR 100 mark. But this 90-95 supply zone is now getting weaker since the constant rising demand for this stock wont let it dip below its previous lows every time and it is thus...

neeraj_2_sharma Updated 

The complex correction to the wave i of 3 beginning from July 2023 has come to an end in the stock. This should kick start the wave iii of 3 in the stock taking it to approx. 410-420 region in coming few months. It should also be noted that the company swung into a consolidated net profit of Rs 8,501 crore in Q2 FY24, against a net loss of Rs 304 crore a year...

neeraj_2_sharma Updated 

The Cement company is completing a zig zag correction(ABC or 5-3-5) to an impulse wave it had shown in Mar.2023. This impulse can either be considered as beginning of a new bull market and hence be considered as wave 1 or if it is to be considered as a corrective wave it can be marked as wave 'A'. That does not change the fact that a 5-wave impulse is always...

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Deyaar is one of the largest developers in Dubai. Its real estate ventures include major growth corridors and prime locations, including Business Bay, Dubai Marina, Al Barsha, DIFC, Jumeirah Lake Towers, Dubai Production City, Dubai Silicon Oasis, Al Barsha South and Al Barsha Heights. The stock of this company had a breakout from an important horizontal level of...

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A very good morning to all. The purpose behind publishing this chart is not primarily to talk about "Rupa and Co.". The primary motive is to share the right approach to analyze any chart. What do you look for when you look at a chart at first? I have tried to put in a numerous things that i try to spot when i see a chart. Now to talk about this particular chart...

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There are three bullish confluences that you can see on this chart. 1.According to Elliot wave model the stock is taking off in wave III of 3. 2. A probable cup and handle breakout attempt.(target for this pattern comes in at around 200 Rs.) 3. Breakout attempt from imp 6 years old(2018-2023) horizontal resistance zone (145-150(Rs.)) The stock can give a swift...

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In my previous update on DXY, I had expressed that wave 'z' had truncated on Nov 1. and that should mean the beginning of the fall for DXY. Well from the truncated 'z' top the DXY has now fallen in a 5-wave pattern(Elliot wave theory). While this in longer term suggests more downside for the dollar index(93$ according to me), in the short term one must remember...