Looking for reliable and free stock tips? Look no further than Moneymunch! We provide intraday and positional trading calls, technical analysis, research reports, and daily or weekly charts to help you make informed trading decisions in the stock market. Subscribe now and stay ahead of the game!
ITC is forming a triangle, It is more likely to follow its support and move up direction.
ITC buy 191
Stop-loss 189
Target 199
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Yesterday we had provided this:
RELIANCE NSE:
Buy reliance 2018
Stop-loss 2009
Target 2057
What is Elliott wave theory?
Elliott wave theory is a method of technical analysis that looks for red current long-term price patterns related to persistent changes in investor sentiment and psychology, the theory identified as impulsive waves that set up a pattern and corrective waves that oppose the larger trend.
The Elliott wave theory was developed by Ralph.nelson, Elliott to describe price movements in financial market, in which he observed and identified recurring.fractal wave patterns wave can be identified in stock price movements and in consumer behavior investors trying to profit from a market trend could be described as” riding a wave” a larger, strong movement by homeowners to replace their existing mortgages with new ones that have better term is called a refinancing wave.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
How do Elliott waves work in our trade?
Some technical analysts try to profit from wave patterns in the stock market using the Elliott wave theory, this hypothesis says that sock price movements can be predicted because they move in repeating up and down patterns called waves they are created by investor psychology.
The theory identifies several types of waves including motive waves, the subject can not all traders interpret the theory the same way to agree that it is a successful strategy. The whole idea of wave analysis itself does not educate to a regular blueprint information, where you simply follow the traction, unlike most other price information, wave analysis offer signal into text dynamic and helps you understand price movements in a much deeper way.
The Elliott wave principle consists of impulse and corrective wave at its core
Impulsive wave consists of five sub-wave that make next movement in the same direction as the trend of the next largest degree this pattern is the most common motive wave and the easiest to spot in a market, like all motive wave, it consists of five sub wave three of them are also motive waves, and two corrective waves .this is labeled as a5-3-5-3-5 structure, which was shown above
Corrective wave-consist of three, or combination of three, sub wave that make at motion opposite to the trend of the next largest degree like all motive waves, its goal is to move the mark in the direction of the trend
Also, like all motive consists of five sub waves the difference is that the diagonal looks like either an expanding or contracting wedge .also the sub-wave of the diagonal may not have a count of five, depending on what types of diagonal is being observed.as with the motive waves, each sub wave, and sub wave three of the diagonal may not be the shortest wave.
To be CONTINUE this research in next “STOCK ANALYSIS”
Kotak Bank is trading near the resistance line.
In the past, it has already followed its resistance and slope down.
It is trading in a disjoint channel.
There is a higher probability that the will fall, however if it crosses its resistance that is 1398 the stock will be bullish.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
JUBLFOOD momentum is a good, it is trading in a middle of the disjoint channel.
At every support and resistance, it generally creates a tail.
After it takes its support and resistance the “falling and moving up” that momentum is great, and after taking support and resistance the stock has a minimum of 100 point moves.
As the stock is trading in the middle of a disjoint channel, it can oscillate between 1686 to 1774.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
In daily chart stock had already broken its resistance and overall the stock is in bullish form.
It can be considered that the stock will oscillate in this price.
In smaller time frame one hour chart the stock movement is slow, but it is in the bullish form. So by keeping support level that is 1853 buy and stop-loss can be 10 point lower the support. Target can be near 1978.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Bajaj Finance has already formed a descending triangle
It has break its triangle in up-direction and now this stock is following an up-direction.
You can see in the chart I have mentioned “continues up-move”
after every continues up move, the stock always form a small triangle and there is a price rotation.
The stock has taken perfectly it’s support every-time.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.