Strong technical potential for up to 60% advance PLTR was a true market leader back in 2020, but in brutal bear market of 2021-2022 the price was devastated almost by 90% of decline.
While price still is far bellow its all time highs and thus has substantial overhead supply, my technical analysis shows substantial potential for at least one more wave higher in 2023.
Thesis : until price respects and holds its Sep'23 lows 13.6, I expect price to form continue forming the right side and handle of the cup, following by the break-out to 23-28 ideal resistance zone.
Elliotwaveanalysis
PVR INOX REVISITEDAccording to the my assessment, the current market situation suggests that PVR INOX is in the c wave (i) of the 5th Elliott wave. The predicted completion level for the c wave is anticipated to be around 1280-1290.
It's important to note that Elliott Wave Theory involves subjective interpretation, and different analysts may have varying views on wave counts. Additionally, external factors such as market sentiment, economic indicators, and unforeseen events can influence stock prices.
Traders and investors should exercise caution and conduct their own due diligence before making any financial decisions. Technical analysis tools and chart patterns can provide valuable insights, but they should be used in conjunction with other forms of analysis for a comprehensive understanding of market conditions.
Risk management is crucial in trading and investing. Setting stop-loss orders and diversifying portfolios can help mitigate potential losses. Furthermore, it's advisable to stay informed about market developments and be prepared to adapt strategies based on changing conditions.
In conclusion, the analysis presented here is based on the user's interpretation of Elliott waves in the PVR and INOX charts. It's important for individuals to make informed decisions based on their own research and risk tolerance. The financial markets are inherently unpredictable, and there are no guarantees of success in trading or investing.
INR 7000 support in BAJFIN could be taken out!The stock is currently falling in Wave "B" and is expected to complete the wave close to the INR 6600 mark.
A small bump up from current level is possible towards INR7250 but INR 7400 will continue to be a major resistance for the stock.
Upon the completion of the bump-up the fall should again resume and the price should proceed towards the projected target zone.
Wave-by-Wave Adventure, US Dollar UnpluggedDecoding the US Dollar Index: Navigating Wave (V) with Thrills
Since the economic tumult of 2008, the US Dollar Index DXY (USDX) has been on a captivating journey, tracing significant waves on its chart. As of now, it stands on the precipice of unfolding the final leg of this larger movement, marked as the thrilling wave (V) on the weekly chart.
Weekly Chart Adventure:
Wave (I), (II), (III), and (IV): Conquered.
Wave (V): The adventure is just beginning.
Daily Chart Expedition:
Inside the thrilling wave (V), wave I, II, and III have been epic conquests.
Currently navigating the challenging wave IV, a terrain of correction.
4-Hourly Chart Odyssey:
Within the tumultuous wave IV, ((A)), ((B)), and the unfolding ((C)).
Inside ((C)), embarking on subdivisions: ((a)), ((b)), and the imminent thrill of ((c)).
Thrilling Wave Principles:
Witness a double correction, an unexpected twist in the daily chart's narrative.
The ongoing correction within wave IV on the 4-hourly chart involves a complex W-X-Y pattern, adding an unexpected thrill.
According to the pulse-pounding Elliott Wave Theory, wave (2) should not retrace more than 100% of wave (1).
Current Pulse:
((a)) of ((C)) is reaching its climax, with the suspenseful unfolding of ((b)) and the highly anticipated ((c)) yet to grip our attention.
Critical Invalidation Level: 107.335 (A point of no return, a daring move beyond 100% retracement of wave (1) inside ((C))).
Please Note:
This analysis is not just a journey; it's a heart-racing adventure crafted for EDUCATIONAL PURPOSES ONLY. Get ready for more twists and turns as we navigate the thrilling waves ahead...!!
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.
Nifty Analysis for Tomorrow |6 FEB 2024 | ELLIOTT BABANifty Analysis & Bank Nifty Prediction for Tomorrow |6 FEB 2024 | Elliott Wave Theory | ELLIOTT BABA
Nifty Analysis & Bank Nifty Prediction for Tomorrow |6 FEB 2024 | Elliott Wave Theory | ELLIOTT BABA
This prediction is for the Nifty Index and it's based on a technical analysis of the market. I'll also be providing an option trading setup for beginners so that you can start trading options today! If you're looking to invest in stocks or options, then this is the video for you!
RAIN INDUSRIES LTDThis chart is created on the request of one my follower.
The stock seems to be breaking out the correction.
All labels are marked on the chart.
Regards
Tricky Moves for GBPUSDPure technical analysis.
After making a bullish move from November 23, 2023, GBPUSD has completed Elliott Waves (first 12345), and then made a sideways movement since mid-December 2023. In this sideways movement, GBPUSD made micro-Elliott Waves and has completed them. The extension of this wave is predicted to complete leg 3 of the second 12345 waves in the range and reverse downwards.
On this large time frame (D1/H4), this is a retracement to the bullish wave in the previous large time frame. In the small time frame (H1), this is an opportunity to sell GBPUSD into the 0.618 Fibonacci zone of the large time frame, which is the flip zone area as well as the area that still leaves an imbalance wide enough to be filled.
Another reason to sell is the divergence on the oscillator which indicates buyers are starting to get exhausted.
To enter, wait until the price reaches the middle or top of the range, where there is a lot of equal high liquidity (range 1.27100 - 1.28250). Pay attention to price movements in smaller time frames (M5 - M15) to get an entry sell position. We prefer to enter at the 1.27040 level or higher and aims for 2R to the support zone at 1.23710 that acted as 0.618 fib level of the higher time frame, as well as the former bullish flip zone. Stop loss is at 1.28700 to avoid stop loss hunting/purge.
Cancel the setup if the price exceeds 1.28166 with high volume.
Note: if the price reaches take profit and shows reversal symptoms, take a buy position. Analysis will be provided later.
Sellers are Ready for EURUSDPure technical analysis.
EURUSD appears to have completed the 4th leg of Elliott Waves and is approaching previous support at 1.07464. There is still 1 leg of the Elliott Wave left to be fulfilled (leg E) which is predicted to be a pullback to the 0.618 Fibonacci zone, where there is equal high liquidity to be taken and then EURUSD will start a new wave (12345).
For entry, wait for a pullback to the 1.01000 - 1.10485 zone and wait for signs of reversal (engulfing candles or double/triple top in the smaller time frame). Ride the bearish waves to the strong support zone at 1.06110, an area that was previously also a flip zone. Stop loss at level 1.11135 or slightly higher to avoid fakeout (stop loss hunting/purge).
Cancel the setup if the price rises to 1.11135 with high volume.
Bearish Week for GOLD AheadPure technical analysis.
On the H1 time frame, XAUUSD appears to have completed the fifth wave (E) of Elliot Waves and penetrated the lower channel at market close last Friday, February 2.
On that day, XAUUSD made a very strong bearish move after the NFP after previously being unable to break through resistance that had been touched at least twice.
For entry, we predict that XAUUSD will try to touch this resistance area once again (2058,000 - 2067,000) to take equal high liquidity and then dropping to the zone that was previously the price battle zone (1955,800 level). First take profit at level 1955,000 - 196,000.
If the bearish trend continues, take profit can be extended to the 1900,000 area, which is also the previous imbalance area and a zone where prices have bounced several times.
Cancel setup if price breaks the 2067.000 zone with a lot of volume, it might be an extended Elliot Waves.
We're in the BoxSince starting coverage on NVDA in November of 2023 and forecasting a minimum high of $650 to as high as $706...I can now say we're in the topping box.
In the next few weeks, as we finalize these last squiggles higher, I would advise to trim your positions by scaling out. The next intermediate move will be a larger degree decline.
Best to all,
Chris
Cardano (ADA) Bullish EW Count-In this EW count ADA is currently in a high time frame 5wave impulsive structure.
-ADA has just put in its W4 at the log 0.382.
-Price is now attempting to put in a W5 before ultimately, we have a bigger W2 correction.
-Currently looking for W5 to take out $0.70.
-Expecting W5 to top out around $0.73 as this is the 1-1 extension from W1.
-Could see an extended W5 that pushes up to $1 as this is the 1.618 extension from W1
-Once W5 has been put in, expect a bigger W2 to be put in.
-I expect W2 to retrace between 0.5 - 0.786 ($0.45 - $0.30)
-I expect W2 to last until Q3 - Q4
Rule Of Alternation : Elliott Wave Theory RULE OF ALTERNATION:
1- Price
2- Time
3 - Severity
4-Intricacy Alternation
5- Construction Alternation
Time Alternation :
If wave 2 Take less time in formation then wave 4 will take more time as compared to Wave 2 and VICA-VERSA
Severity Alternation ):
If wave 2 will dipper then wave 4 will shallow and VICA VERSA
Intricacy Alternation :
If wave 3 is devided into 5 subwave then wave 1 may be of single move . VICA:VERSA
Construction Alternation :
If wave 2 will be Flat correction then wave 4 must be Zigzag or triangle
SBUX - Becky gonna make some bucks for us !SBUX - Added a starter long here, Risk to reward seems better here.
Stop Loss - 85
Target #1 - 100 Phsyc number
Target #2 - 120
Target #3 - 130 , after a pullback to 110's
MSFT reacts to gravity, but is it short lived?We are finally getting an alternating wave iv (black) that should provide some consolidation before making it's final high in what I'm counting as a long term major top. There is a smaller chance this top is a local top in purple wave 3 with a deeper consolidation to come followed by another push higher...but I must add that at this juncture, to realize a push above $416 will constitute the minimum waves in place for completion.
If you're long Microsoft, it makes sense to raise cash on any further strength.
Best to all,
Chris
Triangle Pattern Correction : Elliott Wave A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. A triangle is delineated by connecting the termination points of waves A and C, and B and D. Wave E can undershoot or overshoot the A-C line, and in fact, our experience tells us that it happens more often than not.
Types of Triangles
There are three varieties of triangles: contracting, barrier and expanding, as illustrated in Figure 1. Elliott contended that the horizontal line of a barrier triangle could occur on either side of the triangle, but such is not the case; it always occurs on the side that the next wave will exceed. Elliott’s terms, “ascending” and “descending,” are nevertheless useful shorthand in communicating whether the barrier triangle occurs in a bull or bear market, respectively.
Figure 1 depicts contracting and barrier triangles as taking place entirely within the area of preceding price action, which may be termed a regular triangle. Yet, it is extremely common for wave B of a contracting triangle to exceed the start of wave A in what may be termed a running triangle, as shown in Figure 2. Despite their sideways appearance, all triangles, including running triangles, effect a net retracement of the preceding wave at wave E’s end.
Normal ZigZag : ELLIOTT wave AnalysisA single zigzag in a bull market is a simple three-wave declining pattern labeled A-B-C. The subwave sequence is 5-3-5, and the top of wave B is noticeably lower than the start of wave A,
Relaxo Industries | Elliott Wave Counts #Elliott #Wave #Analysis of #Relaxo Industries Ltd.:
I hope this message finds you well. I would like to share with you a technical analysis of Relaxo Industries, shedding light on recent market movements and potential future trends. Please note that I am not a SEBI registered analyst, and it is advisable to consult with a certified financial professional for any investment decisions.
Analysis of Relaxo Industries:
Relaxo Industries reached its all-time high (ATH) at Rs. 1440.45 in November 2021, completing its minor degree wave 1. Subsequently, the price has been retracing for its wave 2 correction, finding support near the 50% retracement zone. This retracement appears to be a valid move for wave 2, and current counts suggest that wave 2 has completed.
Furthermore, the analysis indicates that we have concluded wave (i) of minute degree and are presently in wave 2 of minute degree within the minor degree wave 3. This suggests a potential continuation of the bullish trend.
It is essential to monitor the price action closely, as this analysis will be invalidated if the price drops below the Rs. 750 level. Caution and diligence are always paramount in the dynamic landscape of the stock market.
Please remember that this analysis is based on technical indicators and patterns, and there are inherent risks associated with trading and investing. The future performance of Relaxo Industries may vary, and it's crucial to stay informed and seek advice from qualified financial professionals.
Pump and dumpLooking for small correction currently in B wave (red). Nice swing trading set ups in current trend
Buy XAUUSD, 1H - Form a Head and Shoulders PatternThe chart has formed a head and shoulders pattern.
The price has previously break the down-trend to retest form an up-trend.
Send us a message If you have any question, we will be happy to answer them.
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Nvidia Continues to extend and so does wave iii of v of 5 pf (1)Until we get a wave iv of v of 5 that can take more traders out, consolidate more than a couple days, we're going to continue to extend. It is now conceivable we get a $7-handle on this company before it dumps.
Unfortunately, this doesn't haven't a happy ending.
Best to all,
Chris
$UBER COMPLETE ELLIOT WAVE ANALYSIS Elliot wave analysis indicates that NYSE:UBER is currently in wave 3, Following a rebound from the 0.764 extension, it becomes evident that Uber is poised to advance towards the 1.618 extension, with the potential for further extension beyond, considering the substantial duration of the initial wave.
Ending diagonals : Elliott Wave Anlysis Ending diagonals consist of 5 waves, labeled 1-2-3-4-5. Each wave subdivides into threes. Waves 1 and 4 overlap in price. Wave 3 can not be the shortest among waves 1, 3 and 5. Wave 1 is usually the longest, but not necessarily. Wave 5 of an impulse and wave C of an A-B-C correction are the places, where you should be looking for an ending diagonal. Since it is the final movement of the sequence, after an ending diagonal prices are expected to go back to the level, where the pattern had started. A real-life example of an ending diagonal with all its features is given on the chart of AUD/USD below.
Leading Diagonal : Elliott wave Analyisis (Elliott Baba)Leading Diagonal : Elliott wave Analyisis
This pattern subdivides into 5 waves.
Wave 2 never ends beyond the starting point of wave 1.
Wave 3 always breaks the ending point of wave 1.
Wave 4 usually breaks beyond the ending point of wave 1.
Wave 5 in the absolute majority of cases breaks the ending point of wave 3.
Wave 3 can't be the shortest.
Wave 2 can't be a triangle or a triple three structure.
Waves 1, 3 and 5 can be formed like impulses or zigzags.
