Elliott Wave Theory

[1sandeepgupta]

I am posting daily chart of INDIACEM.The prime wave [2] is almost retraced to 88.6% of wave [1]. Wave [3] is almost 400% extension of wave [1].Wave [4] may take support at rs 88.64 if it is broken then the next support is at rs 77.90.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[prabhsingh]

I would suggest my friends to go Long on IDEA.Its forming ending diagonal pattern on weekly timeframe hence buy buy for target of 195.

This week Idea was down close to 8% but can it still change the life to some extent and give us healty profits.I think 'Yes' and thats why will still recommend going Long in this stock with tight stop loss of 144 for target of 194-199 as shown in below pic.To me it seems final leg of upward journey is pending for this stock hence still optimistic of earning good profits in weeks.

All the internal Waves of ending diagonal follows 3-3-3-3-3 wave structure.

Please note all the Wave count will become invalid if Stop loss gets triggered.

 

[1sandeepgupta]

I am posting daily chart of HINDZINC. Wave 2 corrected almost 61.8% of wave 1. Wave 3 is almost 300% extension of wave 1. Wave 4 is corrected almost 50% of wave 3. Wave 4 unfolded as complex correction, forming a zigzag x wave connected to a contracting triangle. If the correction is complete then there is buying opportunity. If you are conservative trader then buy the upper trend line breakout of the triangle with stop loss at point E level and target of point 5 as depicted in the chart.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting Weekly chart of DIVISLAB to show the price structure.

On daily chart, there is forming head and shoulder pattern. If the neck line is broken then there will be lot of weakness. The price can go as low as 1468.64.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting monthly chart of SRTRANSFIN to understand it's price structure.

On daily chart, we are in minor 5th wave. The 161.8% extension of wave 1 is at 1207.92. Price may find resistance around this level and correct.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting monthly chart of J&KBANK to understand it's price structure.It has completed prime wave [3] and correcting to complete the wave [4]. The correction is 38.2% of prime wave [3].

On daily chart, price is forming double bottom and price is moving higher.There is one bullish candlestick also. This predicts that may be the price has taken support and moving higher. If that is the scenario then we are in prime wave [5]. Our target may be around 200.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting daily chart of TATACHEM. Wave (3) is extended wave, it is 300% extension of wave (1). We are in intermediate wave (5). It's completion may be at 457.23 level.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting weekly chart of Ipcalab. It is correcting.It has completed leading diagonal in wave [A], now wave and wave [c] are remained to unfold. It may correct as deep as 61.8% of wave [1] to wave [5] or to the level of 487.45.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting monthly chart of LICHSGFIN.We are in intermediate wave (5) of prime wave [5].

On daily chart, we are in minor wave 5. The resistance level is at 456.93 and the next level is at 493.32.These are the levels where the 5th wave may end.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting monthly chart of NHPC to understand it's structure.

On daily chart, we are near the support. Threr is strong support near the rs 17.51. If it is broken then the next support is at 14.81 level.

Disclaimer: This and all the ideas I present are for educational purpose only.