vikasbhekare

vikasbhekare

It has formed a CUP chart pattern in India Cements and recently has broken the neckline after 16 years. The best way to trade a chart pattern is to wait for the neckline to retest after the breakout. Once it turns around and the upside move continues, you can enter the trade. Volume is a crucial factor in this analysis. It increased significantly as the price...

vikasbhekare

Elliot first wave: Starting point 17.65 Endpoint 69.30 Elliot second wave: Starting point 69.30 Endpoint 28.95 Retraced 78.9% Elliot third wave: Starting point 69.30 Endpoint 94.60 Projected 1.27% Elliot fourth wave: Starting point 94.60 Endpoint Not yet formed Usually, the 4th wave should retrace 38.2% and continue with an upward trend. If you check closely the...

vikasbhekare

Muthoot Finance Ltd. looking bullish Cup chart pattern Broke and retested the neckline Monthly, weekly and daily RSI above 60 Divergence can be observed on a smaller timeframe

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CHAMBAL Fertiliser on a daily time frame CUP chart pattern Monthly and Weekly RSI above 60 levels Daily, 75 mins and 15 mins RSI declining It should retrace the neckline levels to retest the levels. If you calculate the retracement, it should retrace between 23.6 to 38.2%. You can notice unusual volume on a break-out candle.

vikasbhekare

Heritage Foods Ltd. CUP chart pattern Broke the neckline Monthly and weekly RSI is above 60, and daily taking support on 60 It looks like 3rd wave as per Elliot Wave analysis. If it is a 3rd wave, the 4 wave should be a corrective wave, which is a retracement. It should at least retrace 38.2%, as I calculated on the chart above. If you calculate the retracement...

vikasbhekare

Indian Hotel (INDHOTEL) on a daily time frame The monthly, Weekly and Daily RSI above 60. Difference between monthly and weekly RSI is more than 10 A typical cup pattern formation Volume is increasing as it is approaching the neckline Last session candle looks bullish and about to break the neck. If the neckline is broken with volume and retest the same, it would...

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COFFEED has been forming a cup pattern or rounding the bottom with higher highs and higher lows. You can observe buying volume in the last few sessions. The daily and weekly RSI are above 60, and the monthly is nearing 60. This indicates a potential upside move. It is trading near its neckline. If it breaks the trend line and retraces near it, it would be an entry...

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NBCC has formed a CUP chart pattern and traded near neckline level 146. The volume is increasing as the price is nearing the neckline level. It tried to break the neckline before, but it was a fake breakout or was not sustained. The monthly RSI is over 78, the weekly RSI is almost 64, taking support at 60, and the daily RSI crosses 60 from below. If you measure...

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I have performed Elliot Wave Theory analysis on BAJAJFINSV daily time frame. The internal wave counts are not shown on the charts as they get cluttered. Wave 2 retraced 0.65% Wave 2 is a sharp correction Wave 3 was calculated with the Fib Extn tool starting from wave 1—end of wave 1—end of wave 2. It is precisely 1.618%, which signifies that wave 3 is extended....

vikasbhekare

Elliot wave analysis performed on 3I Infotech Ltd. It looks like wave 2 retraced 0.65% and is showing bullishness. If you observe closely, wave 1 comprises an impulse wave, and wave 2 includes a flat correction pattern. It makes sure that wave two is formed and price action can show 3rd wave, which will be rapid and stiff in personality. The "Trend Based Fib...

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TATA Steel Ltd. looking bullish The monthly, weekly, and daily RSI is above 60. It is approaching its all-time high of 153. One can notice that the volume is increasing as it nears its all-time high. Also, while CUP pattern formation price action was making higher highs and lows. If it breaks the all-time high with volume and retests the neck levels, it would be...

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BAJAJHIND has been making rounding the bottom. It is charted on a monthly time frame. In the last few weeks, it started making higher highs. Momentum is picking up in the price action and trending upward. Monthly, weekly, and daily RSI is above 60. Volume has increased significantly in the last 5 to 6 months and is being consolidated. The chart pattern looks...

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Zomato is almost trading near its all-time high. Monthly, weekly, and daily RSI is above 60. Volume is increasing as it is nearing its ATH. The chart pattern looks like a cup, and the break line is crossed with a fair volume. One can easily trade for a 1:2 Reward Ratio and trail if the up trend continues.

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Jindal Steel & Power broke the neckline of the cup pattern. It has been forming a cup pattern since 2010, and it almost took 14 years to reach 750 levels. Recently, it has broken the neckline or resistance level with fair volume. One more thing is that it is also nearing its all-time high of 796 levels. We may see either consolidation or retracement at all-time...

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Tourism Fin Corp just broke and retested the neckline of the cup pattern. It has been forming a cup pattern since 2018, and it almost took six years to reach 175 levels. Recently, it has broken the neckline or resistance level with fair volume. One more thing is that it also retested the same levels and continued the uptrend. The monthly, weekly and daily...

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HDFCAMC has been trading in an uptrend for the past few months, forming a cup pattern. It has reached its all-time high. The monthly, weekly and daily RSI is above 60 and taking support at 60 levels in 75-minute time frame. You can see that the volume is also moderate. If it starts increasing as the price approaches its all-time high ( 3844), there would be a high...

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PATELENG has been trading near 60 levels and is taking support. The monthly RSI is above 74, weekly 63 and daily 48 after retracing from 44 levels. Also, it is noticeable that it has been making a rounding bottom. It is one of the strong chart patterns as accumulation occurs at the bottom stage. If it holds the 60 levels and starts climbing up, it would be an...

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RELIGARE is on the verge of crossing RSI 60 weekly and taking support on 60 RSI monthly. Recently, it broke the neckline of the CUP & HANDLE Pattern and has started climbing back up. If you look at the volume, it's increasing. It is in an upward trend since making a bottom in 2020. If the trend continues, we may see the target up to 500 levels (100%).