Elliott Wave Theory

[durgesh]

Interesting counts
But dont you think you have missed the counts at low of 2009 and at high of 2010 (starting point of both trendlines) OR I am missing something

I have counted it as a running triangle . I have tried labelling the chart on weekly timeframe in the running triangle. You can see all moves have been in three's.

 

[durgesh]

My two alternate scenarios on NIFTY hourly chart and none of them is bullish..

And here are two graphs showing expanding triangles ...

 

[durgesh]

MCX GOLD seems to have put the wave B in place and now heading higher.

 

[khurshedmanjra]

Good morning Durgesh

Could you please post EW chart of TCS. Thank you.

 

[khurshedmanjra]

I have counted it as a running triangle . I have tried labelling the chart on weekly timeframe in the running triangle. You can see all moves have been in three's.

Dear Durgesh,

I am not able to view the chart...could you help me in this regard?

 

[durgesh]

I am not very confident of my count on TCS .
Here is what it may be worth... Posting weekly and daily charts

TCS seems to be in wave 4 of some degree and let me tell you wave 4's are very tricky

TCS

Daily

 

[durgesh]

Here is again a wave 4 chart . The scrip is ACC . What it looks like is making a running contracting triangle . The pattern will become more clear as it evolves.

 

[prabhsingh]

My view of TCS given below.Personally feel TCS will make one more LL before starting its uptrend.Hence keeping 2580 as Stop-Loss one can intiate Short positions.

 

[durgesh]

Here is one chart with simple EW count and trendlines.

NTPC Daily Chart

 

[khurshedmanjra]

My view of TCS given below.Personally feel TCS will make one more LL before starting its uptrend.Hence keeping 2580 as Stop-Loss one can intiate Short positions.

Thanks Prabhsingh

I could not manage to view the TCS chart posted by Durgesh.

Request you now if you could post the chart of TECH MAHINDRA with your views, as it spiked up to-day.

Regards. Khurshed.