ZEEL is forming 3rd impulsive wave. Wave 2 has taken a reversal from a 61.8% Fibonacci ratio.
If ZEE is forming wave 3, then we should get a 161.8% extension of wave 1.
Target 1: 335
Target 2: 362
Target 3: 390
Invalidation: Wave 2 can never overlap the starting point of the wave.
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Nickel has started moving forward since March 2021. It will complete the 5th wave soon.
According to Elliott wave projection, MCX nickel can touch 1570 to end the 5th wave.
Intraday & short-term traders can buy nickel for the target of 1485.6 – 1506 – 1532 – 1550 – 1570.
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Unlock This ArticleKey levels: 229 – 226.8
Aluminium has made an all-time new high of 236.3 and declined. It can dig more upside from here. Before that, we may see retesting of 229 – 226.8 levels.
Afterward, it can move for the target of 233.6 – 236 – 238+.
Crude oil has completed all targets in the previous week’s trading sessions.
Mentha oil has touched the second target.
BEFORE
I had written in clear words, “…according to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold’s target price 1782 – 1790+“.
AFTER
The first target of gold has come. Will it touch the second target?
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BEFORE
I had written in bold words, “MCX Mentha oil can bounce here. It can retest the 960. The intraday & short-term investors should enter around the support trendline for the targets of 926 – 936 – 958“.
AFTER
Today it has touched the first target.
Nifty is on the corrective structure.
The wave (x) of the double zigzag is near to complete Wave (Y) has the potential to give a short entry for the following targets :
Target 1: 17426
Target 2: 17328
Target 3: 17260
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Bank Nifty has completed the corrective wave (4) at 31208.
After the climax of wave (4), we have seen an impulse phase with overlapping nature. According to Elliott’s wave theory, 5th wave can become an ending diagonal.
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MCX Mentha oil can bounce here. It can retest the 960. The intraday & short-term investors should enter around the support trendline for the targets of 926 – 936 – 958.
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