harshit22

harshit22

This stock serves as a textbook example of identifying the conclusion of a wave 4. The stock remained in the third wave until January 2024. Observing the channel, it exhibited a throwover before quickly descending to breach the lower boundary of the channel. This tempts the bears to go short. In such instances, the fourth wave typically concludes at a 38%...

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This article will concentrate on the fundamental aspects of identifying the conclusion of Wave 5 within the framework of the Elliott Wave Principle. According to established guidelines: 1) Wave 5 typically projects to 61.8% of the distance covered by Waves 1 to 3. 2) The minimum extension is set at 38.2% of Waves 1 to 3. 3) In instances of extensions in the fifth...

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I will keep this post concise, as it seems that the stock has finalized its fourth wave (refer to my previous posts on LTI Mindtree, ONGC, and Bajaj Finserv, where the stock began to rise following the fourth wave). According to Elliott Wave theory, we are currently in the fifth wave. If the prices remain within our designated buy zone (the Golden Fibonacci...

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Company Snapshot: Established in 1979, Alkyl Amines stands as a prominent producer of aliphatic amines in India. The company caters to a diverse range of sectors, including pharmaceuticals, agrochemicals, water treatment chemicals, rubber chemicals, mining, foundry chemicals, and surfactants. The company boasts a commendable return on equity (ROE) history, with a...

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Established in 1988, Maharashtra Seamless Ltd specializes in the production of seamless pipes and tubes, as well as ERW pipes. The company is also engaged in renewable energy generation and rig operations. Over the past five years, it has achieved a commendable profit growth rate of 26.3% CAGR and maintains a positive free cash flow. The stock's price-to-earnings...

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LTI MINDTREE has established distinctly defined Elliott waves, which clearly illustrate the characteristics of the waves, adhere to the principle of alternation, and align with Fibonacci levels. Upon closer examination, the following observations can be made: A. Wave 1 concluded at approximately the 2000 level. B. Wave 2 exhibited an irregular flat correction,...

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Bajaj Finserve has been undergoing a correction since 2021, forming a triangle pattern. It appears that the stock has finished its 4th wave in the form of a triangle and is now poised for the 5th move. Finding an entry during a corrective phase is always challenging as prices tend to be choppy and sideways. However, upon analyzing wave e of the triangle, it was...

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Market participants are persistently speculating about the conclusion of the current bull trend; however, the upward trajectory remains unbroken despite two significant events—the Election and the Budget. Following international news regarding a hawkish stance from Japan, it appears that the trend may be shifting in the near term. Let us analyze the recent...

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Polyplex has been undergoing corrections since April 2022. It appears that Polyplex has completed its major bear cycle in the form of a zigzag correction (ABC). The minor wave 5 of wave C concluded around the 760 levels. Subsequently, there was a sharp bounce accompanied by increased volume, which supported our theory of the bearish trend coming to an end....

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The Nifty PSE index in India has delivered a remarkable return of approximately 160% over the past two years. Many of the stocks within this index have already provided substantial returns, with ONGC notably achieving a return of around 150% in the last two years. Following such impressive performance, the question that naturally arises is: how much further can...

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Let's examine a couple of fundamental principles in technical analysis related to price action and Elliot waves. 1) One of the basic rules of Elliot waves states that wave 4 should not overlap with the territory of wave 1. 2) It is understood that when a price breaks through a resistance zone and subsequently retraces to test that level, it transforms into a...