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Aegis Logistics is seemed bearish more. It’s the top loser stock of last Friday’s market session. I have drawn this chart to show a bearish area to short-term investors. Wherein AEGISCHEM can show 150 – 138 – 118 levels into that area.
Intraday traders can sell for targets of 166 – 164 levels. And if it breaks the 164 level, then be ready for a downtrend.
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AJMERA
Before:
AJMER has completed the corrective wave B, where the price was preparing for final leg C.
I have written in clear words,” Traders can trade for the following targets: 360 – 356 – 342+.”
Click Here to read the previous research report.
After:
23 Feb 2022 – AJMERA reached the first target of 360 and the second target of 356.
24 Feb 2022 – AJMERA touched the final target of 344.
Further, the price may retrace to the lower band of the parallel channel.
Unlock This ArticleApollo Hospital
Did you read my previous research report on Apollo hospital?
Click here to read the previous research report.
Apollo hospital was unfolding triple zigzag correction wherein the price has formed wave C of wave (Z).
I have mentioned in clear words, “If the price sustains under the upper band of the channel, Traders can trade for the following targets: 4401-4345- 4208 and more.”
21 Feb 2022 – Apollo hospital reached the first target of 4401.
22 Feb 2022 – Apollo hospital reached the second target of 4345 and made a low of 4300.
Furthermore, Price is preparing for the final target.
3MINDIA
3MINDIA have formed the impulsive wave 5 of wave (3).
The price has established the corrective wave (4), and it has broken down the wave iv of lower degrees. It was a clear indication of a bearish atmosphere.
I have mentioned in bold words, “Traders can initiate a short position for the following targets of 21010-20557.“
Click Here to read the previous research report.
24 Feb 2022 – Price reached the first target of, 21010, and made a low of 20660.
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Time frame: Weekly
UBL created an all-time high at 1785 and started declining to overcome the demand pressure.
Bulls pushed prices extremely high, and bear found that convenient to sell.
The stock has respected equilibrium in the parallel channel.
At this glance, the price is at the lower band of the parallel channel.
If the price breaks the parallel channel, it has to break the pivot level 1452. Or the price will give a fake-out and enter into the channel.
The level of 1452 was a monthly resistance level, which became the support level for the current price. We can strong move below this level, and rejection will lead us to the end of correction.
Timeframe: Daily
After creating the extreme low of 749.50, UBL has started forming an ascending channel.
Excess:
In this channel, we can see five excess at the upper band of the Parallel lines.
Excess – 1008
Excess – 1047
Excess – 1166
Excess – 1329
Excess – 1185
We also have two excess on the lower band of the parallel channel.
Excess – 912
Excess – 1051
It indicates that supply pressure has always tried to push the price up.
At high prices, bulls realized that They couldn’t push anymore.
Seller started controlling demand pressure by supply.
Bull responded to selling pressure with a responsive move.
Less excess on the lower band means that buyers haven’t missed responding.
No trading zone:
No trading zone is an extent wherein speculators or investors are avoid trading.
At the upper band, the length of the no trading zones is similar.
Zone 1: 80 bars, 117 days
Zone 2: 82 bars,124 days
Control Line:
The Control line has provided nine touches to the price.
Price has tried to break the control line more to three times, but it couldn’t break the control line, and the price fell to the lower band of the parallel channel.
Stand Point:
We are using a pivot zone at 1452 to avoid fake-outs. If the price breaks the pivot level, it can go for 1390-1311. Hence, the price is bullish only above the pivot level.
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Price has completed a five-wave corrective structure at 495.
The corrective waves consist of three waves wherein B is a corrective, and A & C are the impulsive waves of corrective structure.
Wave B has broken down the ending point of wave A, which suggests that wave C has started.
Measurement for Wave C:
Wave C can accomplish 61.8% of impulsive structure at 344.
Wave C can finish at 100% of wave A at 320.
Wave C can complete at the lower band of the corrective channel.
Traders can trade for the following targets: 360 – 356 – 342+
Head and shoulders pattern:
Right shoulder has broken down the neckline of the head and shoulders.
Head and shoulders also suggest a bearish atmosphere.
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Unlock This ArticlePrice Action Analysis
Apollo hospital is currently forming on the downward channel.
After creating the highest high of 5993, Apollo hospital couldn’t break this level, and supply exceeded the demand.
Price has begun creating lower highs and lower lows to confirm its bearish run.
Excess:
In this channel, we have four price excess. Excess is a signal of a sharp reversal. It indicates that the price can go more in current. Either bulls or bears have to step back to maintain equilibrium.
Excess 1: 5993
Excess 2: 4643
Excess 3: 4150
Excess 4: 4722
H-Lines:
Price has created two h – lines. H-top line holds the bulk of trading activities. After breaking H-lines, it can give a sharp move. It also works as dynamic support and resistance.
No trading zone:
No trading zone indicates negligible trading activities.
Here, traders are not interested in trading decisions.
Price has created five no trading zones.
Upper band & Lower band:
The upper band is the dynamic area where supply exceeds demand. The upper band provides resistance to the price. But, If the price breaks the upper band, the price will likely continue the current trend.
The Lower band is the dynamic area where demand exceeds supply. The upper band provides support to the price. But, If the price breaks the lower band, the price will likely continue the current trend.
Perspective:
Currently, the price is on the upper band of the parallel channel.
The price has created an excess (4724) on the upper band of the channel, which indicates.
If the price sustains under the upper band of the channel, Traders can trade for the following targets: 4401-4345- 4208 and more.
If the price breaks the previous lower high, it can change the trend by making a new high.
Elliott Wave Projection:
Apollo hospital has formed a triple zigzag, and wave (X) of complex correction has completed at 4794.
Wave (W): 4643
Wave (X): 5141
Wave (X): 4150
Wave (Y): 4794
Wave (Z): –
We are riding the sub-wave C of wave (Z) of a complex correction.
Traders can enter a short position after a pullback for the mentioned target of 4401-4345- 4208.
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Alternative Count
If the supply fails to break the lower low of the Wave(Y), We can follow the alternative Count.
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Basic Tenets:
Elliott waves are famous for finding crowd behavior trends and reverses in recognizable patterns. Elliott’s wave principle is inspired and made from the Dow theory, which is the foundation of the technical analysis.
Elliott’s wave principle consists of eight waves.
In this eight wave, price forms two types of wave structure,
1. Motive structure:
– Five Wave Pattern.
– Moves with the primary/main trend.
– Labeled in Numerical method (1,2,3,4,5).
2. Corrective structure
– Three Wave Pattern.
– Moves against the primary/main trend.
– Denoted in alphabetical method (A, B, C).
Now, let’s look at the 2-day chart of 3MINDIA.
Timeframe: 2 day
Price has accomplished the impulsive wave (3) and started forming corrective wave (4) by breaking sub-wave iv of wave 5 of wave (3).
Currently, the price is in corrective mode.
Sub-wave 5 of wave (3) has ceased, the terminating wave v of ending diagonal. Price has broken down the corrective wave iv at, 22590, which signals bearish sentiments. After breaking the main channel, the price started falling sharply.
Calculation of wave (4):
The common retracement of wave 4 is 38.2% of wave 3.
Wave 4 can never retrace more than 61.8% of wave 3.
Wave 4 occurred near sub-wave 4 of lower degree.
Timeframe chart: 4-hour
Price has broken down the sub-wave iv of the ending diagonal of wave 5.
After the pullback, if the price sustains below, 22590, it is likely to give a big move below the parallel channel.
Traders can initiate a short position for the following targets of 21010-20557.
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