Tuesday, May 22, 2018

DJIA: Breakout from Triangle Pattern, is it the start of next up move?


It is amazing to identify patterns, be it advanced Elliott waves or simple patterns. It helps to generate good returns. Below is the research which has helped our client to make good profits in few days based on Elliott wave pattern.

DJIA Daily chart :(As on 9th May 2018)


Following is a gist of the research published on 9th May 2018

Wave Analysis:

As shown on daily chart, 50 day EMA continues to provide good resistance area and prices are maintaining resistance near these levels; a decisive break above the same will drive prices higher towards 24800 as long as 23500 is intact on the downside. Currently, wave (f) is on-going of a diametric pattern. in terms of internal counts wave (f) is going through Triangle pattern, minor wave d completed on the upside around 24800 which will now act as important resistance levels; and Wave b (red) of e is ongoing an important resistance placed at 24500 levels. Post the completion of the same next leg on upside should start!


DJIA Daily chart: :( As on 22th May 2018)


Wave Analysis:

As shown on daily chart, post making a low in form of wave e prices witnessed an up move towards higher level giving a decisive break above b-d trendline which confirmed that wave (f) has completed on downside and next leg in form of wave (g) has started on upside. As of now wave a of (g) might have completed on the upside at 25000 price levels and we are currently seeing consolidation in the form of wave b. Post a break of this range bound action the upward movement should continue for DJIA and we expect prices to reach higher levels of …..

In short, trend for DJIA is positive and break above high at 24800 can drive prices higher towards …..

The above research shows that when you combine the various technical analyses it increases your probability of going with the trend. To know what the next move will be subscribe to our Global report under the name of “The Global Waves STU” which also consist of EURUSD, Comex Gold and Comex Silver.
 




Monday, May 21, 2018

Bajaj Finance: How to predict wave iii before its takes place?


Bajaj Finance: Post giving a break above important resistance of 1970 levels, prices moved higher quickly. It made the high near 2170 gaining 100 points within 2 days whereas Nifty 50 lost 180 points. This clearly suggest outperformance. Below is the research that shows combination of Elliott wave and basic technical analysis to forecast the trend of Bajaj Finance. It is amazing to see at times that these methods have continued to work so precisely irrespective of the movement in broader markets.

Bajaj Finance 60 mins Chart: (Anticipated on 19th of April, 2018)



Bajaj Finance 60 mins Chart: :( Happened on 19th of April, 2018)





Following is a gist of the research published on 19th April 2018
     
Elliott Wave analysis:

Anticipated: “Bajaj Finance has continued to outperform when Nifty witnessed selling. There is no looking back for the stock. During the correction in broader market, Bajaj Finance too moved lower but it managed to protect the important support levels and as of now it has resumed the up move. As shown on hourly chart, prices witnessed a sharp up move breaking the downward sloping red channel. As of now wave (i) of 5 of Impulsive Pattern seems to be completed near 1965 levels and wave (ii) seems to be ongoing. Any move above 1965 is expected to take prices towards 2100 levels.
In short, trend for Bajaj Finance is positive. Move above 1965 can give a positive breakout for a trend towards 2100 levels.”

Happened: On 18th May 2018 Bajaj Finance made an intraday high of 2171 and also managed to give a decent closing at 2149 even when the overall market was under selling pressure.” This simply shows how powerful Elliott wave theory works.”

This clearly shows how well the technical analysis works when we combine basic with advance techniques. To known what will be the next move of Bajaj Finance and other Nifty 50 index stock subscribe to our Equity Research report under the name of “TheFinancial Waves STU”.