Elliott Wave Theory

[traderniftybank]

ARVIND made a low of 247 on 26.2.16

 

[durgesh]

Nifty Spot Hourly

Today , looks like Nifty put in the wave 5 low in style with a bullish divergence.
Expect an upmove till 7252 from here.

I have put the entire labelling as an ABC down because wave 3 is not supposed to be contained within a channel.

 

[durgesh]

ARVIND made a low of 247 on 26.2.16

It's gonna go much much lower. The monthly macd has given a bearish divergence and a hook sell signal. It's gone bad for many many months.
Elliott pattern wise looks like an expanded flat in the making in wave 4.

 

[durgesh]

ICICI Bank Hourly ( Spot)

Looks like making a perfect ending diagonal. Expecting this stock to put in a low at 176 and rally to 215.

 

[durgesh]

MCX Crude Daily

It's making an expanded flat in wave 4 on the daily chart. The C wave of this expanded flat is turning out to be an ending diagonal made of 3-3-3-3-3.

MCX Crude Hourly

On the hourly chart it's going up to make the last abc of fifth wave of C.

 

[amitagg]

Nifty Spot Hourly

Today , looks like Nifty put in the wave 5 low in style with a bullish divergence.
Expect an upmove till 7252 from here.

I have put the entire labelling as an ABC down because wave 3 is not supposed to be contained within a channel.

In that case just checking for info whether the correction can be termed as ended since the last leg 5 wave impulse in missing when you label as ABC ( unless leading diagonal)??? But confused due to lack of fully clarity of concepts

 

[durgesh]

In that case just checking for info whether the correction can be termed as ended since the last leg 5 wave impulse in missing when you label as ABC ( unless leading diagonal)??? But confused due to lack of fully clarity of concepts

This is what maybe happening on the daily. We maybe in a C wave ending diagonal where each leg sub-divides into 3s i.e. abc .

If indeed its C wave of an ending diagonal then the wave structure must overlap i.e. wave the ongoing 4 should breach wave 1 low.Nifty should print above 7553.

This is also a possibility. No matter which is chosen , the selling is not yet over. It's a correction in a bear market.

 

[durgesh]

Nifty 15Min

Looks like it's completing wave 3 on 15 min. Has run into upper BB and is near 100% projection with divergence on oscillator. Is due for a correction to 7134.
Let's see.

 

[durgesh]

MCX Silver 1h

It made an expanding triangle in wave 4 . This pattern shafts breakout traders nicely. May empty trading accounts quickly too . Typically , occurs in wave 4 or B.

Silver looks set to march to 39586.

 

[DSM]

Good analysis Durgesh,

Am sure it would have taking a lot of time to study and post this. :thumb:

This is what maybe happening on the daily. We maybe in a C wave ending diagonal where each leg sub-divides into 3s i.e. abc .

If indeed its C wave of an ending diagonal then the wave structure must overlap i.e. wave the ongoing 4 should breach wave 1 low.Nifty should print above 7553.


This is also a possibility. No matter which is chosen , the selling is not yet over. It's a correction in a bear market.