Elliott Wave Theory

[amitagg]

Here is a count on MCX Gold hourly chart... It's probably making an ending diagonal in wave 5 which will complete wave 1 on daily chart.

Yeah thanks. Shall look to trade this

 

[durgesh]

Here is some wave counts on GMRInfra ...

As per EW guidelines , wave 2 should never retrace more than 100% of wave 1.

 

[umanghai]

...............................many bhailog requesting sbin counts... so may not be 100% correct but there may be a corrective cycle in sbin it may not be possible to be-leave in any such major correction coz modi wave has given bull fever making ppl thaink that indian markets are only made to go up!

AND WE GOT HERE ...

 

[prabhsingh]

AND WE GOT HERE ...

Horrible EW Count.You need to first read books and get your basics correct.

 

[durgesh]

It looks like a running triangle .BUT if 145.5 is breached then the D leg can be taken as a truncated fifth and can expect a decline to below 100 in coming months.

 

[durgesh]

SBI Daily

On the daily its completing wave 3 and due for a bounce to 190

SBI Hourly

On the hourly i feel it's due for a retest of 160 .

 

[durgesh]

Nifty Daily

Wave c target comes to 7720-54 . There is a gap over there and 100 sma is also around there. Expecting some fresh selling there.

Nifty Hourly

Hope to see Nifty take out 7600 on this upmove itself. If Nifty backs off from 7590+ and then again goes up to take out 7600 , then the ascending triangle target will push it to 7900+ . Let's see how it pans out.

 

[gopicbin1]

Durgesh ji please give your view on arvind

 

[durgesh]

Arvind Monthly Log Scale

The monthly chart shows one leg up is pending and there it might put in a major top. The monthly RSI is giving divergences.

Arvind Daily

One more leg upto 370 looks pending. It seems to be completing an abc correction at an uptrend line. The final upmove is about to begin perhaps.

 

[gopicbin1]

Thank you so much