Elliott Wave Theory

[1sandeepgupta]

Sandeep ji, Pl give Nifty wave count

Nifty weekly chart with Elliott wave count is posted below.

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

 

[mishraanup]

1Sandeepgupta Could you plz. tell me where can i find good study material for Elliot wave.
Thanks

 

[1sandeepgupta]

1Sandeepgupta Could you plz. tell me where can i find good study material for Elliot wave.
Thanks

These are the websites I've studied - still study all the time. www.elliottwave.com they have a ton of free stuff. sign up for the free EWI club and then you can start with the 10 chapter tutorial to review the basics plus I've also studied Bullkowski http://thepatternsite.com/Elliott.html again all free. Bullkowski's website also has stuff on just about every type of pattern you could want to study.

Watch these videos on youtube.com, the links are as follows
https://www.youtube.com/watch?v=rEifQi71rcs
https://www.youtube.com/watch?v=dIIyevqaJoM.

You can study Elliott wave course of Jody Samuels.

 

[1sandeepgupta]

I am posting weekly chart of AJANTPHARM to understand it's structure. It has completed intermediate five wave structure and correcting.

On daily chart it is correcting. One must accumulate it on every fibonacci correction levels.

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

 

[1sandeepgupta]

I am posting weekly chart of PCJEWELLER to understand it's structure. It has completed intermediate five wave structure and correcting.

On daily chart it has taken support at 50% retracement of wave (1) to (5).If this support is not broken then it will be in prime wave [3]. Various Fibonacci support levels are depicted on the daily chart. One must accumulate it on every fibonacci correction levels.

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.

Can i know if there were any people who purchased Reliance after seeing this recommendation?

 

[1sandeepgupta]

I am posting daily chart of POWERGRID to understand it's structure. It has completed minor five wave structure and correcting. In correction, it has completed A,B,C correction waves and seems that it has taken support and started in upper direction. One can go long around 136 for a target of 146 with a stop loss of 129.55.

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

 

[1sandeepgupta]

I am posting daily chart of PTC to understand it's structure. It has completed three waves and is correcting. In correction it has corrected A, B and perhaps C wave. If the correction is over then it has started in the fifth wave, the conservative target for this wave is rs. 104.

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

 

[prabhsingh]

Sandeep,

I would suggest that you give weitage to some of the important fib levels as well while drawing waves.In case of PTC,Wave 3 is not giving respect to any of the fib levels hence it seems on going correction is part of main Wave 3 and not main Wave 4.

 

[1sandeepgupta]

I am posting monthly chart of RPOWER. At 58.31 it has strong support on monthly chart and it is forming descending triangle, if 58.31 support is broken then there will be marked weakness. It can go to 50 levels and further down.

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