COMEX GOLD futures clearly obeyed all rules of ELLIOTT's FLAT correction.Correction begins on AUG2011
wave ''A'' completed @ $1045on FEB 2016.
wave ''B'' completed @ $2089and wave ''C'' started on 3rd AUG20.
First target for wave1/5 is $1518
This level is best buying opertunity because if it hold there and get more support
then minimum requirement for wave...
So far Camarilla (weekly) support and resistance workedout well for NIFTY uptrend.
Lets hope the same will do for Down trend too.
All levels marked well in the chart itself .
Only shorts no longs in recovery wave.
TECHNICAL ANALYST CUM TRADER
RELIANCE broke 200 day linear regression slop(major trend) and correcting now in WXY wave down
20 day LRS(DOWN) gives the direction of the stock movement until Jan 4th 2021 Target 1440(61.8% of previous up move)
As per my Elliott wave count weekly 12770 has to be taken away this week for extended "Z" wave. If any correction completes exactly at A=B Then it is said to be the correction completed and Next cycle of wave has to follow. ('C' WAVE DOWN)
Now we are in final stage of recovery(correction)WXYXZ and Wave ' Z ' completed as A=B , So what's next?
As wave A completed as per my previous post (1820),RELIANCE supported @1835 and bounced for wave B .Next wave to emerge as wave C
which will drag this stock to 1620 and that will be BEST to buy on 28/31th DEC 2020
There are some methods available to predict whether,distance,speed in physics.Like that we can predict herd mentality and using mathematics.
linear regression is one of the method to find the Standard deviation of a moving data (daily price movements).The two variables price and time
are the main ingredients we have for trading or investment to increase our...
12000 IS THE CRITICAL POINT TO BE TAKEN BY TOMORROW BY BULLS, TO TAKE NIFTY TO 17720 LEVELS IN 2021
LOGIC 1. CORONA EFFECT NOT ALTERED CORPORATE PROFITS
LOGIC 2. 'C' WAVE BEGINS IN NIFTY (W,X,Y,X WILL BECOME A,B) THE TARGET OF 'C' WILL BE 1.618*A
LOGIC3.Q2 RESULTS ARE EXTRAORDINARY
LOGIC 4. LOW OIL CONSUMPTION, NEW THRUST IN AUTOMOBILE,ONLINE BUSINESS...
IF TOMORROW DOW HITS THE CRITICAL POINT OF 28353 (78.6%OF WAVE 'C') , THEN WE MAY SEE A NEW BULL WAVE(5 WAVES) WITH A TARGET OF 43924.
LOGIC 1.SO FAR WAVE 'W' AND WAVE 'Y' COMPLETED WITH SUPPORT OF 38.2% AND 50%
LOGIC 2.THE NEXT WAVE WILL BE A MOTIVE WAVE WITH 5...
Nifty surpassed descending trend line and made a high above previous wave(B) today,Whether this move will sustain?
Thursday we will see the wave (C5) and every thing will be clear after.Till that we will short up to 11390.IF today's up move is hold for wave(c5) tgt 11700 Which is 0.5 of wave (c1),then it is confirmed all 5 waves of C is Completed with ...
NIFTY failed to kiss 12000 ,leave it, we have signal for Trend reversal.
Neo wave time cycle gives clear picture that, relief rally time is given to bulls are OVER.
Following WAVE(A) ( TRIPLE ZIGZAG), we had a NEO wave DIAMETRIC for WAVE(B) in which wave g failed to reach 12000.
failure of wave g is like 5th wave failure.
Starting on Monday with 470 point swing...
NEO wave diametric pattern applied to recent NIFTY movement.Normal ELLIOTT wave count doesn't work ,since everyone is Master in it.
Considering SC verdict the cause will come first in stock market. And Bull waves finally end up with a final climax rally.
take BENEFIT of market move by entering into CE .
Target of wave 'g' will be exactly in Fibonacci multiple...
After several my calls of NIFTY on bearish view not met ,I thought of my stand may be wrong since the alternative thinking is also necessary in trading analysis..
MARKET ALWAYS RIGHT
Bullish sentiment, CORRECTION IN GOLD,More Retail participants, may fuel some more energy to NIFTY up to the MAXIMUM available price target of 11900 .
CHANNELING done on VWAP...