Monday, March 18, 2024

Nifty path ahead using Elliott wave pattern – Is it Time to Buy?

Trading using Elliott wave – Neo wave with price forecasting technique for clear targets and stoploss.

Nifty chart shows movement with high volatility over past many days but prices are essentially stuck in a range without any momentum.

It is crucial to understand the pattern to trade and prices are forming Diametric pattern as per advanced Elliott wave – Neo wave method.

Nifty hourly chart:new

Elliott wave analysis – As shown on above chart we can see that post completing wave x near 21100 levels there has been move on upside which is definitely not following any of the impulse rules. We can clearly see overlap between each of the legs which confirms that the upside trend is in corrective pattern.

Neo wave defines new pattern as Diametric that has 7 legs and shows contraction followed by expansion. This pattern is labelled as a-b-c-d-e-f-g and by measuring price time symmetry we can identify potential reversal areas.

As per this pattern wave g tend towards equality to that of wave a, wave e ~ wave c and wave f ~ wave b.

We can see this price symmetry very clearly displayed in the ongoing pattern. On downside, wave f has been equal to wave b near 21920 levels measuring end to end but if we measure from completion of wave e we get the target as 21840 on downside. So, wave f should ideally not move beyond this point and any break below this level will suggest some other pattern is ongoing.

Now on faster retracement above 22120 we will get further positive confirmation that wave g on upside has started that can tend towards equality with wave a thereby giving the targets of 22400 or higher.

Thus as long as 21840 – 21920 zone is protected, we can expect positivity again but price time confirmation is crucial for a move to 22400 or higher!

In a nutshell, by analysing the pattern as per Elliott wave – Neo wave one can form a complete trading system with low risk high reward setup and trade with conviction. This can be combined with Time cycles for timing the entry to very day, hour and minute.

Brahmastra (Mentorship) on Trading with complete handholding and learning the sacred science in the way it works along with live trading sessions, application of Elliott wave, Neo wave in live markets, Options trading strategy, Stock selection algo, risk and money management in upcoming Mentorship sessions starting on 27th March 2024, Limited seats only, Fill below form for more details:

Thursday, March 14, 2024

Nifty Realty surged more than 110% in last 1 year; KPIL For Multibagger Returns!!

It is possible to capture a massive move in a shorter time frame with the help of Time cycle and simple Elliott wave.

We had recommended to buy Kalpataru Projects in our Multibagger stock report back in July 2023 around 599 levels! Below shows a detailed chart and analysis that the stock followed.

KPIL Weekly Chart Anticipated as on 26th July 2023
  KPIL Weekly chart with Bollinger Bands Anticipated as on 26th July 2023
 

Wave analysis as on 26th July 2023

In the weekly chart of KPIL, we can see that, stock was in a large complex correction since many years. The stock completed wave Y(blue) and Primary wave 2 (black) near the low of around 360 levels in August 2023. After the formation of this low price has shown sharp recovery of almost 72% and has managed to move in a higher high and higher low fashion. Currently Primary wave 3 is moving on the upside. This confirms that a major correction looks to have completed and a fresh impulse move has started on the upside.

Also, breakout of the ‘Inverse Head and Shoulder pattern’ has happened. This is classical reversal pattern which occurs when downtrend is in final stages. Along with this, the breakout of the upper bands has started. If prices able to give breakout again then further bullish momentum can continue. Hence the overall trend remains bullish.

The 76 weeks’ time cycle represented by red vertical lines which can be seen in the above chart which has managed to capture major lows. Recent low made was also exactly near our cycle. Any close above 600 can turn cycle on the buy mode. In short, overall signs are suggesting that the outlook looks positive as Wave theory and Time cycle both are in sync. Now we just need price action to confirm it.

In short, KPIL seems to have started a long term up move. One can buy at current levels near 599 and add more quantity in case price dips towards 500 levels for a move towards 1080 or higher levels. Place the stoploss at 360 levels which is a low of wave 2.

KPIL Daily chart Happened as on 14th March 2024

Happened: In July 2023, we published on KPIL (KALPATARU PROJECTS) in our Multibagger report. At that time stock was trading close to 599 levels. Stock recently on 11th March 2024 achieved our target of 1080 levels and made a high of 1163 within less than 8 months, which is more than 100% from the dip levels.

3 months of Brahmastra (Mentorship) on Trading – Trading is a science and prices can be forecasted. Learn the complete trade setups with Options Mantra (OM), Sutra of Waves (SOW)Master of Time cycles, algo creation, stock selection for multibagger and momentum trades with live Mentorship sessions, Limited seats only, Early bird ends on 15th March 2024. Know more

Wednesday, March 6, 2024

Gold at Lifetime High, What's Next?

 Gold at Lifetime High, What's Next?


Gold has started to shine again and recently Gold made new life time high near 65140 levels. Gold is following its own independent Elliott wave pattern and Time Cycle. We predicted this up move even before the rally started using Time cycle and Elliott wave theory.

Elliott wave helps us to navigate the trend of the market. Time cycle helps to identify early entries. It has worked out well especially if you know how to apply the Elliott wave along with the Time cycle.

Look at below the charts and detailed research on MCX Gold taken from our Monthly research report which we published in February 2024 – “The Financial Waves Monthly update”

Gold Weekly chart Anticipated as on 16th February 2024

MCX Gold with 51 Days’ Time cycle as on 16th February 2024

 

MCX Gold Daily chart Anticipated as on 16th February 2024

Wave analysis as on 16th February 2024

During the month of January Gold showed movement in both the direction. Currently MCX Gold has lost its momentum over the months which is visible on the above charts. On the weekly chart, we can see that prices are trading in a tight range of 61500-64400. However, overall trend is positive as prices have still protected Ichimoku cloud support on weekly basis. 

In the previous session Gold witnessed correction after uptick in the dollar index (DXY) following a higher-than-expected US inflation number which exceeded expectations.

On the daily chart, we have shown Bollinger Bands. Bands are looking flat and size of it has reduced considerably which happens due to lack of volatility. Such period of low volatility often followed by high volatility. A trending move is much awaited in this asset.

We have plotted 51 Day’s Time Cycle which has helped to determine crucial reversal areas. We can see in the above chart which clearly suggest that how cycle has worked out well for catching lows most of the time. Currently cycle is ongoing. So, we expect some sideways action or some weakness in this commodity. After which we can expect a fresh buying.

Gold is at deciding point. A breach below 61000 can result into further correction with the targets of 60300. Whereas a breach above 62700 can turn cycle on the buy side which can lift the price further higher towards 63300.

MCX Gold Daily chart Happened as on 6th March 2024

Happened: Gold moved precisely in sync of our expectations. Prices made low exactly on our cycle and since then we witnessed a rise of more than 6% in short span of Time and prices made a fresh record high at 65140 levels. This is pure magic of Time cycle! 

3 months of Mentorship – Learn the science of Trading over the period of 3 months of Mentorship along with complete understanding of Elliott wave, Neo wave, Time cycles, Risk and Money management strategy, complete handholding. Session starts in March end. Limited seats only, Know more 

Monday, March 4, 2024

BHEL Up 300% in One Year! What is Next for this Multibagger?

 BHEL rallied by more than 300% since February 2023. The Multibagger stock has given stellar performance.

BHEL was up by more than 12% as on 4th March 2024.

But will the trend continue from here?

Let us look at from Elliott wave perspective

BHEL Daily chart:

BHEL is moving higher in impulse trend. The stock has rallied by more than 300% since wave (3) started higher.

Prices are currently moving in the form of wave 5 of (3). The up move has still more room to cover and we can expect the stock to reach towards the level of 295 – 300 post which we should see retracement in form of wave (4).

Over short term dips can be used as buying opportunity with 240 as immediate support.

The rally looks to be in matured stage but still buy on dips will work well for now as per the GPS (Elliott wave) of the market.

Path ahead is shown as per Elliott wave pattern and we will evaluate further as and when more price action unfolds from here.

In a nutshell, trend for BHEL is positive but the best of the trend might be behind use. Prices can move higher till 290 – 300 levels before showing retracement as long as 240 remains intact.

3 months of Mentorship – Learn the science of Trading over the period of 3 months of Mentorship along with complete understanding of Elliott wave, Neo wave, Time cycles, Risk and Money management strategy, complete handholding. Session starts in March end. Limited seats only, Know more

Friday, March 1, 2024

DATAPATTNS Bang On- 2 Best Indicators You Cannot Miss!

Simple price pattern breakout along with price indicators creates wonder if one combines it together! See yourself how we identified such massive move in DATAPATTNS Check out how we selected this momentum stock named as DATAPATTNS which has rallied more than 19%

We published DATAPATTNS analysis in "The Financial Waves Short Term Update" on 23rd February 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

DATAPATTNS Daily chart Anticipated as on 23rd February 2024

DATAPATTNS Hourly chart Anticipated as on 23rd February 2024

 

Wave analysis as on 23rd February 2024:

DATAPATTNS has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 8.67%.

On the daily chart, in the previous session prices formed a bullish candle. The stock is moving in a rectangular range over the last few days indicating accumulation in the stock. Price has closed above this trading range will result into a bullish breakout of the rectangular pattern. Price is trading above the ichimoku cloud which indicate that the short-term bias is bullish.

As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 2110.

In short, trend for this stock is positive. Use dips towards 2200-2220 as a buying opportunity for a move towards 2440-2460 levels as long as 2110 holds on the downside

 

DATAPATTNS Daily chart Happened as on 1st March 2024

Happened: After we published the report, the stock made a dip exactly towards 2220 levels which we mentioned earlier. Within the short span of time, the stock has given more than 19% return in such volatile market and moved way beyond our target which was of 2460 levels. Stock made high of 2679.95. Price action supported the trend and as a result we saw a sharp rally in DATAPATTNS

 

Brahmastra (Mentorship) on timing the market – Learn the science of trading along with risk management, money management, complete trading strategy, Options Mantra, Sutra of Waves – Elliott wave, Neo wave and time cycles. 3 months of Mentorship is starting soon with only limited seats. Know more