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Navigating the Waves: Piramal Enterprises Technical StudyTechnical Analysis of Piramal Enterprises (NSE: PEL) This analysis is shared for educational purposes only and should not be considered financial advice. Overview Piramal Enterprises has shown a promising breakout with significant volume, indicating strong bullish momentum. The Elliott Wave analysis also suggests a positive structure, pointing towards potential further gains. Elliott Wave Analysis Wave 1: The stock completed its first impulse wave (1) near 1,140 INR. Wave 2: The corrective wave (2) concluded around 735.85 INR. Wave 3: The ongoing wave is expected to be an impulse wave 3, targeting higher levels. Current Structure - The stock has completed the corrective wave C of (2) and is now in the early stages of wave 3. - The recent breakout above the black trendline suggests the start of wave (i) of 3, supported by increasing volume, adding to the bullish sentiment. Key Levels - Current Price: 977.85 INR - Nearest Invalidation Level: 905.00 INR - Major Invalidation Level: 630.45 INR Targets - Elliott wave suggests ahead wave 3 first levels (1.0 Fibonacci Extension of Wave 1): 1,246.00 - Elliott wave suggests ahead wave 3 ideal level (1.618 Fibonacci Extension of Wave 1): 1,561.25 Conclusion Piramal Enterprises has provided a strong breakout backed by volume, aligning well with the Elliott Wave theory. The structure indicates a continuation of the uptrend with potential targets at 1,246 INR and 1,561.25 INR. The nearest invalidation level is at 905 INR, with a major invalidation level at 630.45 INR. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:PEL
by RK_Chaarts
GTPL HATHWAY LTD. Technical Outlook with Elliott wavesThe chart provided utilizes Elliott Wave Theory to analyze the price movements of GTPL HATHWAY LTD . Below is a breakdown of the wave counts and their significance: Primary Wave Count Labelled in Black Wave ((1)) in Black (Primary Degree): - This initial wave is marked from the low in March-2020 to the high Oct-2021. - It represents the first major upward movement after a prolonged downtrend, indicating a new bullish cycle. Wave ((2)) in Black (Primary Degree): - This corrective wave follows Wave ((1)), retracing a portion of the gains made in Wave ((1)). - It is marked from the high Oct-2021 to the low March-2022. - Wave ((2)) is typically characterized by a three-wave structure (ABC correction), although it appears to have a complex structure in this case. Wave ((3)) in Black (Primary Degree): - The current wave, which is expected to be the most powerful and extended wave. - It is divided into five smaller waves (1)-(2)-(3)-(4)-(5) within it, in Blue (Intermediate Degree). Intermediate and Minor Degree Waves Wave (1) of ((3)) (Intermediate Degree): - This wave is a smaller degree wave within the primary Wave ((3)). - It starts from the low of Wave ((2)) and moves up, completing its cycle around the first quarter of 2023. Wave (2) of ((3)) (Intermediate Degree): - A corrective wave within the primary Wave ((3)), following the high of Wave (1). - It retraces some of the gains made in Wave (1). Wave (3) of ((3)) (Intermediate Degree): - This wave is in progress and is expected to unfold into five smaller waves (i, ii, iii, iv, v). Subdivisions as Minor Degree in Red within Intermediate Waves Wave 1 of (3) (Minor Degree): - The first sub-wave of the intermediate Wave (3), indicating a small upward movement. Wave 2 of (3) (Minor Degree): - A corrective sub-wave following Wave 1, resulting in a minor pullback. Wave 3 of (3) (Minor Degree): - Expected to be the most extended and powerful sub-wave within the intermediate Wave (3). - This wave is likely to push the price significantly higher, followed by wave 4 & wave 5 to finish Wave (3). Bullish Scenario and Price Targets Target for Wave 3 (Primary Degree): - The projected target for Wave 3 is around the 1.618 Fibonacci extension level, which is 353. Key Levels - Invalidation Level: 155 - This level serves as a crucial point. If the price drops below 155, it invalidates the current wave count and the bullish scenario for now. MACD Trend Indicator: - Already running positive in both Monthly and Daily timeframes. - Turned upside in Weekly timeframe and is on the verge of a positive crossover. Trendline Breakout: A trendline breakout has been observed on the Weekly timeframe. Moving Averages: The price has closed above the 50EMA, 100EMA, and 200EMA in both Weekly and Monthly timeframes. Bullish Divergences: Bullish divergences are aligned on both Weekly and Daily timeframes. Support and Resistance: The price is taking support at the 20SMA mid Bollinger Band in the Monthly timeframe. The stock is attempting to close above the Weekly 20 SMA, which has not been achieved yet. Conclusion The detailed wave count analysis suggests that "GTPL HATHWAY LTD" is currently in the early stages of a primary Wave 3, which is typically the strongest and most extended wave in Elliott Wave Theory. The intermediate and minor degree waves within this primary wave indicate a structured and progressive upward movement, supported by various technical indicators. The primary target is set at 353, with an invalidation level at 155. If the price breaks below the invalidation level of 155, it indicates that we are still in Wave (2) of the Blue Intermediate Degree. Consequently, we would need to wait for the start of Wave 1 of (3). In this scenario, the new invalidation level would be 93.75. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:GTPLLong
by RK_Chaarts
6
Hellena | Oil (4H): Short to support area 72.631 (Wave 5).Dear Colleagues, as in the last forecast I assume that the price was moving in wave “4” and is currently completing this wave. I expect the wave to start downward movement and reach the support area (minimum of wave “3”) at 72.631. Because this movement will be the development of wave “5” in the ending diagonal. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
10
Galaxy Surfactants: Bullish Wave 5 in MotionTechnical Analysis of Galaxy Surfactants Elliott Wave Analysis: Galaxy Surfactants is exhibiting a classic Elliott Wave structure on the weekly time frame. The stock has successfully completed waves (1), (2), (3), and (4), and now appears to be unfolding wave (5). Within wave (5), we have finished waves 1 and 2 and are potentially starting wave 3 on the daily time frame. Key Levels: Invalidation Level: The low of wave (4) at 2221 serves as the invalidation point for this bullish wave count. If the stock price falls below this level, the current Elliott Wave structure would be invalidated. Target Levels: Based on the wave structure, the potential targets for wave (5) are in the range of 3500 to 4000. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD is positively aligned on both daily and weekly time frames, indicating bullish momentum. RSI (Relative Strength Index): The RSI is also showing strength, being positively aligned in both daily and weekly time frames. This supports the view that the stock is in a bullish phase. Wave (5) Characteristics: Wave (5) in Elliott Wave theory often represents the final leg of the primary trend. It is usually characterized by strong momentum and can sometimes extend to unexpected levels, especially if wave (3) was not the longest wave. The unfolding of wave (5) suggests that Galaxy Surfactants has significant upside potential. Conclusion: Galaxy Surfactants is showing a strong bullish setup according to Elliott Wave theory. With the stock potentially starting wave 3 of wave (5) and supported by positive MACD and RSI indicators on both daily and weekly time frames, the outlook is highly positive. The invalidation level is pegged at 2221, with targets towards 3500 - 4000 levels. Investors should monitor these levels closely to confirm the wave structure and potential continuation of the bullish trend. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:GALAXYSURFLong
by RK_Chaarts
2
Elliott Wave Analysis: Anticipating an Upward move in USDCADHello Traders, Trust you are great. Below is my Elliott wave analysis of USDCAD currency pair Analysis: The structure of the USDCAD currency pair suggests the formation of an irregular Flat corrective pattern. The initial Wave A has taken the form of a leading diagonal, moving downward. Current State: Wave B appears to have completed its formation. The next expected movement is the formation of Wave C. Expectation: An impulsive Wave C is anticipated to move upward towards the 1.37445 - 1.38147 region before a subsequent decline. Invalidation level for the upside projection: 1.3605. Cheers!
Long
by Samuel124
1
Ashoka Buildcon, Bullish Trend with Multiple ConfirmationsTechnical Analysis of Ashoka Buildcon Ltd. Overview: Ashoka Buildcon Ltd. has recently demonstrated a bullish breakout from a classic Cup and Handle chart pattern, supported by robust trading volumes. This pattern, known for its bullish implications, suggests a strong potential for continued upward momentum. Volume Analysis: A noteworthy observation in the volume analysis is the stark contrast in trading volumes during price movements. Each time the stock price declined, the volumes were very low, indicating weak selling pressure. Conversely, during price increases, the volumes were aggressively high, reflecting strong buying interest and investor confidence. Elliott Wave Analysis: According to Elliott Wave theory, Ashoka Buildcon Ltd. appears to have commenced the third wave of the third wave (wave 3 of wave (3) of wave ((3)). The third wave in Elliott Wave structure is typically the most powerful and significant, often characterized by rapid and sustained price advances. This suggests that the stock could experience a substantial upward trajectory in the near future. Technical Indicators: RSI (Relative Strength Index): The RSI is currently showing strong bullish momentum, consistently above 60 and 70 across daily, weekly, and monthly time frames. This indicates sustained strength and buying interest. MACD (Moving Average Convergence Divergence): The MACD is positively aligned across all time frames, reinforcing the bullish outlook. Cup and Handle Pattern: Breakout: The bullish breakout from the Cup and Handle pattern is a significant development, often indicating the start of a strong upward trend. Targets: Based on the pattern, potential targets can be projected by measuring the depth of the cup and adding it to the breakout point. Specific targets will depend on the exact dimensions of the pattern on the chart. Stop Loss: To manage risk, a stop loss can be placed just below the handle's low or the last significant swing low, ensuring protection against unexpected downturns, which is possibly in market. Key Insights: Chart Analysis: "The chart says everything; we just have to be able to hear." This highlights the importance of paying attention to the technical signals and patterns, which currently point towards a bullish future for Ashoka Buildcon Ltd. Bullish Outlook: With the confluence of strong technical indicators, a significant Elliott Wave setup, and a confirmed Cup and Handle breakout, the stock looks very bullish going forward. Investors should monitor the invalidation level at the last swing lows for risk management. In conclusion, Ashoka Buildcon Ltd. presents a strong bullish case with multiple technical factors aligning to support a positive outlook. The combination of high volumes on upswings, a robust Elliott Wave structure, and the Cup and Handle breakout suggest significant potential for upward movement. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:ASHOKALong
by RK_Chaarts
Hellena | Oil (4H): Long, correction to the area of 76.326.Dear colleagues, I have analyzed for a long time and came to the conclusion that the price will probably continue to decline, but at the moment I see that wave “3” is not formed yet, and therefore wave “4” is not formed either. Therefore, I expect a correction to the area of 76.326, but it is desirable that the price does not reach the level of 76.50, because this is the minimum of wave “1”. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDELong
by Hellena_Trade
10
Elliott wave Analysis of EURUSDHello Traders, Happy new week to you. Here is my analysis of the EURUSD PAIR. Analysis of the EURUSD wave structure shows corrective waves. Wave (A) formed a leading diagonal, while wave (B) was a shallow correction. Currently, we are likely in wave (C), which may indicate an upward trend within wave (5) of wave (C). After wave (C) completes around the 1.09860 level, we expect a strong downward move. If the price drops below 1.06011 before reaching 1.09860, the wave count is invalidated. Cheers and happy trading
Long
by Samuel124
Elliott Wave Modern Analysis: Major Bullish Trends Unveiled!Hello traders! 📈✨ Today, we're diving into a comprehensive Elliott Wave Modern analysis on the DOGEUSD weekly chart (W1). With our two-window setup, we are comparing the current market behavior with a historical bullish trend from December 14, 2020, to May 3, 2021. Let's break it down: Right Window Analysis: Period: December 14, 2020 - May 3, 2021 Market Behavior: During this period, DOGEUSD exhibited a massive bullish trend forming an ABC flat pattern. Key Levels: Wave A: $0.4530, representing a 500% increase from a lower degree abc Zigzag (marked in grey). Left Window Analysis: Current Status: The market is currently forming the early stages of a three-wave pattern (a:3 & b:3). Future Projection: - If history repeats, we might see wave c:5 with a potential 500% increase, targeting $0.7992 from the height of a:3. - Current Price: $0.1650 - Target: Watch for the first major peak around $0.7992! 🚨 Get ready for a potential bullish surge in DOGEUSD! 🚨 With these insights, we could be on the brink of another significant move. Stay tuned and trade wisely! 🚀💸 🔗 Follow for more updates and detailed analyses! 📊📌 #ElliottWaveModern #CryptoAnalysis #DOGEUSD #TechnicalAnalysis #BullishTrends #CryptoTrading #TradingView 🚀📈🌊
BINANCE:DOGEUSDLong
by erbe
2
CADJPY-Breakout Sparks Upward Momentum: Wave (3)/(C) in FocusHello Traders, Here is my analysis of CADJPY currency pair. The pair was confined within a sideways price action channel, characteristic of the corrective wave phase. Subsequently, it has broken out of this channel. What to Expect: We anticipate further upward movement, progressing through the sub-waves of wave (3)/(C). The projected target for this upward wave is a minimum of 116.006. These indicators suggest a strong potential for continued upward momentum. I will closely monitor the price action, as the breakout from the price channel has increased my confidence in the persistence of the upward trend. What are your expectations on this pair?
Long
by Samuel124
1
#nzdcad Elliott wave analysisAs you can see in the chart, it seems like the price has completed the 3rd wave of wave 3 and is now getting ready for a bearish corrective move to form wave 4 of wave 3. During this bearish correction, we could expect the price to retrace all the way towards the static support zone. However, based on the three basic rules of Elliott Wave theory, wave 4 cannot interact with wave 1. As a result, if this labeling is going to materialized, then the price cannot go below 0.82190. And that's where our stop loss could be placed.
by mohemati
Predicting Bitcoin's Cycle Using the Elliott Wave TheoryGreetings, fellow traders. In this article, we'll be reassessing our annual Elliott Wave counts and going deeper into interpreting Bitcoin's current decade cycle. I'll make sure to segment each part by drawing insights from the previous cycles, also employing the Elliott Wave Theory, and integrating major timeline events to bolster my perspective on Bitcoin's potential trajectory in the upcoming cycle. The wave theory will help neutralize many of the irrational thoughts that other analysts may have that just show straight arrows to the upside. This thesis helps you get a better understanding of where pullbacks and areas of high strength (wave 3 impulses) may occur. Remember, the wave theory will never be perfect in painting the picture, but it will help you be positioned as best as possible with proper invalidation levels. One of the most significant phenomena witnessed in the current financial market landscape is Bitcoin's adherence to a notably algorithmic parabolic trend, where cycles persist in a compounded manner in terms of percentages. This raises the crucial question: "Can we expect all past cycles to mirror the current one?" Answering this is very challenging. However, Bitcoin has one of the strongest strengths against all other coins, which is price history. Fundamentals attached, Bitcoin has been extremely resilient against major events (with wild swings), but the overall trend has remained in tact for over a decade. This indicates not only strength, but true adoption. We must discern whether the price action will evolve into something new or continue the pattern of echoing past cycles (fractals). The most effective method for interpreting Bitcoin's price movements is through the logarithmic chart that is presented in the chart above. When examining past cycles through the lens of only fractals (as that is how it has been for the past decade), the most effective approach to understanding the present cycle is by conceptualizing it as a sequence of nested '1-2' counts. In simpler terms, experiencing a succession of 1-2/1-2/1-2 patterns might lead to either optimistic expectations or impending disappointment. This ambiguity prompts consideration of an alternative bearish perspective, elaborated upon subsequently. Keep in mind, there's always room for firsts, meaning that the failure of the fractal pattern is always a possibility. Again, this idea is further explained in the bearish alternative explanation below. Bearish Alternative: For a more rational approach, the Elliott Wave Theory also suggests alternative pathways. One narrowed down scenario would be that the cycle has now matured, suggesting for a more maturing market with more complexity in corrective types (patterns). The logarithmic chart may indicate a deceleration in the macro timeframe, suggesting that Bitcoin is currently in a maturity phase. Its role as a store of value to say the least. To simply put, the corrections will be far more controlled as investors create larger distribution patterns through the timeline and create demand/sell zones. Price maturity, a concept commonly observed in stock models, implies that markets do not move linearly and eventually reach an endpoint, including in price action. Utilizing the Elliott Wave Theory, we can generate one alternative count that shows the whole cycle is now possibly in a larger 1-2 of some sort: 1. The fact that we have a possible WXYXZ corrective pattern for the 2021-2023 bear market, this may indicate this is part of something larger. Usually, you will see wave 2's have a simple ABC/WXY type patterns. 2. This speculation can then lead us to believe that we could be part of a larger corrective pattern, most likely as a flat pattern now. 3. Consequently, this insight aids in forecasting that we are entering into the new phase of 'market maturity,' or what I like to term as the "flattening of the curve theory." We could debate endlessly about the next bear market for Bitcoin, but the undeniable truth is that over the past 15 years, the market has proven its resilience against political turmoil, hacking attempts, and regulatory crackdowns. It's remarkable to realize that aside from halvings, forks, and institutional adoption, there haven't been any significant bullish events/catalysts. This speaks volumes about Bitcoin's strength. There wasn't any single groundbreaking moment or major catalyst for each bull run. Instead, it was a series of interconnected events that sustained that momentum, leaving it to us as investors to identify distribution points.
INDEX:BTCUSDEducation
by XForceGlobal
30