Elliott Wave Theory

[1sandeepgupta]

I am posting weekly chart of Reliance to understand it's structure. It has been in the complex correction mode. A ZigZag[w] is [x] wave connected to a flat [y] and again [x] wave connected to a zigzag [z]. Now it is in five wave correction. The different fibonacci support levels are shown in the chart.

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

 

[1sandeepgupta]

I am posting weekly chart of nifty. It is trading in a channel, if the channel is broken then the support is at 7741.

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

 

[1sandeepgupta]

I am posting daily chart of NTPC to understand it's structure. It has been in the complex correction mode. Now it is near 61.8% fibonacci support of 1 to 5 waves. If it takes support here, it may go to 145 level at least. If this support is broken then the next support is at 122.7. Next two to three sessions will decide it's direction.

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

 

[timepass]

I am posting weekly chart of Reliance to understand it's structure. It has been in the complex correction mode. A ZigZag[w] is [x] wave connected to a flat [y] and again [x] wave connected to a zigzag [z]. Now it is in five wave correction. The different fibonacci support levels are shown in the chart.

Reliance nearly hit the 78.6% support of 869 (made a low of 879).. Let's see how much support it takes.

 

[1sandeepgupta]

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

On daily chart it is correcting. It has almost corrected to 61.8% of wave (1) to wave (5). On putting the elliott wave count, I think that the correction is not completed. It may correct further to the level of 26.68 or more.

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

 

[1sandeepgupta]

I am posting monthly, weekly and daily charts to understand it's structure and the further course it may take.

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

 

[prabhsingh]

Reliance has to play a very critical role towards the next leg of rally for Indian markets.

Below is the weekly chart for Reliance and in the existing run-up all the analyst have a view that Reliance contribution was not there and hence expectation from this stock is very least.But to me below charts is giving very clear indication that at 868 - 870 levels this stock is very cheap and hence as a positional trader it should be grabbed with both hands.Today 15th Dec,Reliance SPOT made a low of 872 and hence i personally feel it should be accumulated on every decline,if it happens.

 

[1sandeepgupta]

I am posting Monthly chart of DishTv to understand it's structure.

On weekly chart it is in the starting of the [X] wave. It seems that it is in contracting leading triangle. The triangle has completed and now it is correcting one can buy every dip.

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

 

[1sandeepgupta]

I am posting monthly chart of ULTRACEMCO to understand it's structure. We seems to be in minor 5th wave of intermediate (5) wave of prime [3] wave if the correction of minor 4th wave is completed. It seems that the minor 5th wave will not be a long wave. The resistance faced by it is near 2863.12.

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

 

[gopicbin1]

I am posting monthly chart of ULTRACEMCO to understand it's structure. We seems to be in minor 5th wave of intermediate (5) wave of prime [3] wave if the correction of minor 4th wave is completed. It seems that the minor 5th wave will not be a long wave. The resistance faced by it is near 2863.12.

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

Sandeep ji, Pl give Nifty wave count