Elliott Wave Theory

[1sandeepgupta]

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.

Thank you for your comment. This is not always that the wave model of Elliott follows the fibonacci levels exactly. In PTC the wave 3 is some what lesser than the 161.8% extension of wave 1.

Correction is always of wave 3, wave 4 never corrects as the wave 4 is itself correction to the wave 3.

 

[1sandeepgupta]

I am posting Weekly chart of CIPLA to understand it's structure. It seems that we are in intermediate wave (5) of prime wave [3].

On daily chart, it is forming contracting triangle in minor wave 4.The wave 5 may have started, it may terminate at 684 if this level is broken upwards the next level is 738.

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

 

[1sandeepgupta]

I am posting daily chart of DENABANK to understand it's structure. It has completed it's intermediate five wave structure and now it is correcting. There are two wave counts. According to the first the (A), (B) AND (C) correction is complete. And according to the alternative count, the price is in wave ALT(B) which is not complete yet.

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

 

[1sandeepgupta]

I am posting monthly chart of IGL to understand how it traded in the past? It has completed intermediate five wave count. Now it is in prime wave four. Let us see how it unfolds in future.

In daily chart it is forming expanding triangle, the last candlestick is bearish and the support it has around rs. 400. It seems that it will correct and reach to these levels and then go up in the wave (5), the target to this wave five is 509.17.

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

 

[Somatung]

I am posting monthly chart of IGL to understand how it traded in the past? It has completed intermediate five wave count. Now it is in prime wave four. Let us see how it unfolds in future.

In daily chart it is forming expanding triangle, the last candlestick is bearish and the support it has around rs. 400. It seems that it will correct and reach to these levels and then go up in the wave (5), the target to this wave five is 509.17.

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

Any paper to what you show here or try to predict?

Kindly let us know by sending the documents.

Lets see how it is continued.

Thanks for your help, as you only want to help the forum,

 

[niftyninjatrader]

Sandeep ji

Please post chart and EWCounts for banknifty, if it is possible for you.
Thanks and Regards

 

[1sandeepgupta]

Any paper to what you show here or try to predict?

Kindly let us know by sending the documents.

Lets see how it is continued.

Thanks for your help, as you only want to help the forum,

All my analysis and predictions are based on Elliott wave theory and the patterns discussed there.
Sorry, I could not understand your comments. What documents are you talking about?

 

[niftychartreader]

All my analysis and predictions are based on Elliott wave theory and the patterns discussed there.
Sorry, I could not understand your comments. What documents are you talking about?

Hi
Please do not use this word 'prediction' in the posts, as some members (beside sebi) have allergy with this word

 

[1sandeepgupta]

Sandeep ji

Please post chart and EWCounts for banknifty, if it is possible for you.
Thanks and Regards

Welcome friend, I am posting Banknifty monthly chart and the elliott wave count on it to understand it's structure.

On daily chart it seems that the price has completed the five wave count and now it is correcting. Five wave completion is indicated by the formation of double top and fifth (5) is almost equal to wave (1).

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

 

[1sandeepgupta]

I am posting weekly chart of nifty to understand it's structure.

On daily chart, it seems that the correction is not over yet. It may correct to 7823 level.

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