16th Nov
Tread carefully. Stock dealing with dangerous levels.
As expected in the earlier post we have arrived at Wave V possible destination level, 2820 and previous high near 2834. If the stock is able to negotiate these levels successfully we may see 3000 or more else fair bit of weakness can be seen.
11th Sep
Corrective phase terminated ahead of the target at 61.8% of wave A.
Fresh wave up seems to have begun with initial hesitant equality moves.
Looks heading for 2680 for now. If it extends we should see 2820 in this move.
But over longer term this marks initiation of wave 3 combo (Super Cycle 3 and Cycle 3) and the long spikes ahead can be expected once the initial hesitant moves get over. Initial target for this wave are above 4600 over little over medium term.
24th Aug
Heading for 2563.
But it distinctly looks an ABC corrective move and most like to follow it up by a sharp move down as discussed in the earlier post.
15th Aug
SBIN did not play out as expected. Which means more pain is likely. Ideally after completing 5 waves it is customary to correct 50% to 61.8% of the entire move.
Wave B had completed at 2623 and wave a of C is running now. Expecting it to end near 2335 and then we go for a corrective up move (wave b of C) to be followed up by a sharp move (wave c of C) to levels near 2155 which is 50% of the entire 5 waves done from 1453-2835.
Many times the wave C is terminated without going for corrective wave b and final wave c of C. In such an event the correction should be over near 2335. However we are very close to this level but no buying interest is seen yet and I would be very circumspect to consider this as end of correction.
3rd Aug
SBI is in corrective cycle.
Wave A was over at 2367 and now running wave c of B corrective wave which should extend to 2655/65 and then finally wave C should initiate for minimum target of 2307 and ideally near 2190.
Move over 2675 would mean that probably correction ended at 2367 (Unlikely).
Tread carefully. Stock dealing with dangerous levels.
As expected in the earlier post we have arrived at Wave V possible destination level, 2820 and previous high near 2834. If the stock is able to negotiate these levels successfully we may see 3000 or more else fair bit of weakness can be seen.
11th Sep
Corrective phase terminated ahead of the target at 61.8% of wave A.
Fresh wave up seems to have begun with initial hesitant equality moves.
Looks heading for 2680 for now. If it extends we should see 2820 in this move.
But over longer term this marks initiation of wave 3 combo (Super Cycle 3 and Cycle 3) and the long spikes ahead can be expected once the initial hesitant moves get over. Initial target for this wave are above 4600 over little over medium term.
24th Aug
Heading for 2563.
But it distinctly looks an ABC corrective move and most like to follow it up by a sharp move down as discussed in the earlier post.
15th Aug
SBIN did not play out as expected. Which means more pain is likely. Ideally after completing 5 waves it is customary to correct 50% to 61.8% of the entire move.
Wave B had completed at 2623 and wave a of C is running now. Expecting it to end near 2335 and then we go for a corrective up move (wave b of C) to be followed up by a sharp move (wave c of C) to levels near 2155 which is 50% of the entire 5 waves done from 1453-2835.
Many times the wave C is terminated without going for corrective wave b and final wave c of C. In such an event the correction should be over near 2335. However we are very close to this level but no buying interest is seen yet and I would be very circumspect to consider this as end of correction.
3rd Aug
SBI is in corrective cycle.
Wave A was over at 2367 and now running wave c of B corrective wave which should extend to 2655/65 and then finally wave C should initiate for minimum target of 2307 and ideally near 2190.
Move over 2675 would mean that probably correction ended at 2367 (Unlikely).
1 comment:
Hi Sir,
Long in SBIN Futures from 2432. Good point to exit at 2650. Thanks for the wave analysis. Can you also post an analysis on Reliance Infra. Has given a Buy today EOD. Is it also in Wave 4? Also, are there any courses to learn Elliot wave analysis. Your analysis is fantastic and gives very low Risk points of entry.
Thnaks,
Arjun Bakshi
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