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Navigating the Waves: Piramal Enterprises Technical StudyTechnical Analysis of Piramal Enterprises (NSE: PEL) This analysis is shared for educational purposes only and should not be considered financial advice. Overview Piramal Enterprises has shown a promising breakout with significant volume, indicating strong bullish momentum. The Elliott Wave analysis also suggests a positive structure, pointing towards potential further gains. Elliott Wave Analysis Wave 1: The stock completed its first impulse wave (1) near 1,140 INR. Wave 2: The corrective wave (2) concluded around 735.85 INR. Wave 3: The ongoing wave is expected to be an impulse wave 3, targeting higher levels. Current Structure - The stock has completed the corrective wave C of (2) and is now in the early stages of wave 3. - The recent breakout above the black trendline suggests the start of wave (i) of 3, supported by increasing volume, adding to the bullish sentiment. Key Levels - Current Price: 977.85 INR - Nearest Invalidation Level: 905.00 INR - Major Invalidation Level: 630.45 INR Targets - Elliott wave suggests ahead wave 3 first levels (1.0 Fibonacci Extension of Wave 1): 1,246.00 - Elliott wave suggests ahead wave 3 ideal level (1.618 Fibonacci Extension of Wave 1): 1,561.25 Conclusion Piramal Enterprises has provided a strong breakout backed by volume, aligning well with the Elliott Wave theory. The structure indicates a continuation of the uptrend with potential targets at 1,246 INR and 1,561.25 INR. The nearest invalidation level is at 905 INR, with a major invalidation level at 630.45 INR. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:PEL
by RK_Chaarts
June seasonality pivot approachingOne of my big technical analysis passions is time analysis and time cycles, and I tend to follow them closely. Some of these are very helpful when in combination with other TA, to find reversal points at any given time frame, even though I don't do intraday trading, so I focus on big swings, though bigger time frames. Bitcoin's periodicity is remarkable, and we can generally find important pivots points during seasonality shifts. One of these season shifts occur in June and has been occurring for the last few years, marking the start of important swings. This seasonality shift is generally very powerful and has the power to mess with some other lower time frame cycles, such as the 60 day cycle, so at this specific time of the year we should expect some LTF cycle non-sense. This seasonality pivot is expected around mid June, so a lower low is expected around that time. Around the seasonality pivot we can look for price targets with other techniques. Past 45º trendlines, and Elliot wave theory targets are some of my favourite ways to find support levels. As of now, my pivot projection lies at mid June within the 50-55k range. More accurate EW targets can be determined once the current high is confirmed.
INDEX:BTCUSD
by LittlePhi
1
DALBHARAT - FRESH IMPULSE - BULLISH - LONG TERMHi Folks, Another stock with upcoming bullish momentum. Dalmia Bharat has seen a decent correctoin of more than 50% of the last impulse. After both time and price correction, RSI is cooled off on daily and weekly timeframes. Recent week showed good accumulation in data with decent volumes. There is a breakout visible from the falling wedge with RSI also breaking out and making newer high. Elliott wave analysis 1. Larger Wave 1 has an extended internal wave 3. 2. 5 wave structure is visible on the impulse. 3. 2-4 trendline has been violated and the subsequent larger wave 2 unfolded. 4. Correction in wave 2 had nested abc structure which resulted in larger WXY as marked on the chart. 5. Targets of larger wave 3 is marked with fib projections. 6. Invalidation level shall be low of wave 2. 7. Risk: Reward is very decent for long term hold. Not a buy recommendation. Please do your own due diligence.
NSE:DALBHARATLong
by KunalSaxena10
Cyclically speaking....is it time to sell stocks?Introduction Within the larger Elliott Wave community (of Elliottitions; practitioners of Elliott Wave Theory) there has been an ongoing notion, that is gaining in popular perspective, that the US stock markets are very close to entering a super cycle wave (IV)…myself included. However, from what we know of Elliott’s original work, which was based on social and economic behaviors concerning market participants, and the use of Fibonacci numbers…is when this normal cycle starts, we will not know with a high degree of certainty this is what is occurring likely until its ending. Background Ralph Nelson Elliott was an accountant by trade born the late 19th century who also studied the US Markets. Post the 1929 stock market crash, and as a reader of Charles Dow’s Customer Afternoon Letter, (which later became the basis for today’s Wall Street Journal) Elliott began to formulate the basis of Elliott Wave Theory by noticing patterns that seemingly repeated (mathematical fractals) across monthly chart timeframes, all the way down to the 30-minute increments of price action within the stock markets. He stated that the behavior of market participants was cyclical in their actions, predictable in the outcome, and therefore highly forecastable well into the future. Although Elliott Wave Theory is criticized for a multitude of reasons that I will not get into here, I can clear up this, or any criticism of the technical analysis by simply stating I use EWT everyday as a trader to make a living. If the principles largely bare out each and every day on the smaller scales, regardless of the security (as long as there is a large number of participants) it’s highly implausible they would NOT fail when applied to the very long-term charts. My Analytical Perspective From Elliott’s original work he wrote… Corrections are typically harder to identify than impulse moves. In wave A of a bear market, the fundamental news is usually still positive. Most analysts see the drop as a correction in a still-active bull market. Some technical indicators that accompany wave A include increased volume, rising implied volatility in the options markets and possibly a turn higher in open interest in related futures markets. In the above chart you'll notice I have placed a red target box in the area of where a normal a-wave would reconcile to. It is while involved in this initial decline of a super cycle wave (IV) that sort of market reaction will be reported as a deep, but common run-of-the-mill bear market that was overdue. Given the meteoric rise in stock prices, it only stands to reason that we would consolidate those. This will give credence to my suspicion that we will not know we're only just starting this long-term consolidation. What will follow next should be a very long drawn-out b-wave, that has the protentional to rally back towards the current levels (maybe slightly below). This portion of the pattern will take many years, possibly a decade. The price action will take long enough to where participants may even feel that the a-wave bear market is over, and we're now involved in another bull market cycle to new highs. This will go a long way to justifying the narrative that the previous market decline was a speed bump on the way to much higher levels now. Again, Elliott states with respect to a b-wave in general and how we could potentially view this portion of the super cycle wave (IV). Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative. The b-wave, from bottom to top, can provide opportunities for traders for the duration as it will be a trader’s market. This is where the majority of this long term cycle will reside. The final outcome of a super cycle wave (IV) and why I state in the beginning of this article as to why we may not know this was a multi-decade super cycle wave (IV) is prices may be approaching the previous highs before we get one of two outcomes of neither are good. The first outcome is a stock market crash that could resemble it’s cyclical wave (II) but in alternating form. This would be devastating loss of wealth in a very short term period of time…whereas, the second option is a slightly more controlled decline, and although not classified as a stock market crash, will certainly feel like one as the declines will be steady, consistent and overtime versus all at once. In conclusion, could the current price action to higher levels continue to persist? Yes. I am not saying this market has topped. No key levels of support have been breached. The trajectory I am expecting is as per the below and as key levels of price action that have supported this rally are breached the pathway forecasted takes on a more standard decline based on Fibonacci retracement levels. Daily Chart Only cycle a-wave labeled. Cyclically speaking....is it time to sell stocks? I cannot answer that because the strategy of investing in the stock market depends on the person, their age, and their investment goals. These are decisions only you can make.
SP:SPXShort
by maikisch
12
$TSLA not done going higher. $320-$330 by July 24. GET LONGSo we already know that Tesla deliveries came in 9000 more than what was expected, 438,000 expected verse 447,000 that Elon Musk posted on Twitter a couple weeks ago. Last quarter earnings per share of $.47 was slightly missed, and on July 23 they’re expected $.60 per share earnings. So IMO, That could indicate that even a slight earnings beat on revenue and earnings, would propel the stock to complete wave three at 2.618 Fibonacci level. never mind, the whole Robo-taxi delay, which caused an 8% decline on Thursday along with the rest of the Big tech Nasdaq. I don’t think robotaxi is realistically a factor in their valuation just yet.
NASDAQ:TSLALong
by jgeno
3
Nvidia's Circle-b Wave StatusThere's an old analytical adage that goes..." nothing confirms price action like confirmation ". Not too helpful in the short term trading sense, but in the larger picture perspective it sure makes a lot of sense. I can make a case based on where price came into the Fibonacci Retracement zone of the .786% for corrective action that got smacked down... has topped... ...however, in a B wave, confirmation only comes with a break of the circle a-wave low down in the $117 area. Its a good start but since this chart is sooooo bullish, wait for confirmation. A break of $117 brings $1.04-109 into view MINIMUM. Best to all, Chris
NASDAQ:NVDA
by maikisch
2
GM BREWERIES - TECHNICALS plus FUNDAMENTALS - A STOCK TO INVESTINVESTMENT PICK of the year -- MONTHLY TIME FRAME BREAKOUT 🚀🚀 TECHNICAL VIEW Overall view - - Technically this stock has given a shiny breakout in Monthly Time Frame of downward sloping trendline which suggest the stock have more potential and more bias upside. Again, As per Elliot Wave theory, the stock has entered the 3rd wave which is the momentum wave in monthly timeframe. KEY POINTS (TECHNICALS) - Stock is trading All Time High - It has given breakout in monthly time frame with power pack intensity of volume - RSI (relative strength index) is above 70 in monthly as well as in weekly time frame which give momentum to the stock - Price challenging upper Bollinger band which indicated the initiation of wave 3rd LET'S TALK ABOUT FUNDAMENTALS - Company's profit and sales are in increasing order 📈 - Company is fully debt free which gives an extra edge to company's growth - Promoter's holding is 74% which is actually very good - FII has increased its stake in last quarter - Company's Price to Earning ratio (P/E ratio) is just around 13.9 to 14 compared to industry PE which is around 32, that indicated that the company is doing great in the industry and have more potential to grow in this industry SOURCE- SCREENER.in and ticker finology Conclusion The stock is having bullish bias in long term as well as in short term analysing both - Fundamentally plus Technically, it can give us targets of 1300-1400 in long term, buying and averaging will be between 850 to 750 Disclaimer I am not SEBI registered. consult your financial advisor before any kind of investment. All the studies and ideas posted here are for educational purpose. THANK YOU KARANN DINGRA 💰
NSE:GMBREWLong
by KARANN_DINGRA
8
Bitcoin - Your Ultimate Guide to Mastering the MarketOverview: The Bitcoin market is on the brink of another explosive surge. Understanding the technical patterns and market movements is crucial to positioning yourself for incredible gains. Let’s delve into a comprehensive analysis based on historical data and predictive patterns to map out the future of Bitcoin. Historical Context: The previous Bitcoin bull market, spanning 1060 days, saw an astounding 2000% surge, from a low of $3,156 to an all-time high of $69,137. This cycle completed a textbook 5-wave Elliott Wave structure, giving us invaluable insights into the current market dynamics. Current Bull Market Insights: The current bull market commenced on November 21, 2022, at $15,476. We’ve completed wave 3 as of March 14, 2024, with a new all-time high of $73,777. Now, we find ourselves in wave 4, a critical phase that demands our attention. Wave 4 Analysis: Wave 2 correction lasted 150 days, a duration that sets a precedent for wave 4. Assuming similar symmetry, wave 4 is expected to bottom out on August 11, 2024. This wave is unfolding as an ABC corrective pattern, a common and predictable formation in Elliott Wave Theory. While it's possible that the ABC correction could be complete, if another drop arises to the $50K region, it will present an incredible opportunity for a long position. Key Levels and Fibonacci Retracements: Fibonacci Levels: Wave 4 typically retraces to Fibonacci levels of 0.382, 0.5, or 0.618. For wave 3, a 0.5 retracement aligns at the $50,000 level, a psychological and technical support. Anchored VWAP: Drawing from the start of wave 2, the VWAP aligns perfectly at around $50.7K, reinforcing this level as a robust support. Previous Bear Market Fibonacci: The 0.618 retracement of the previous bear market further consolidates the importance of the $50K support level. Pitchfork Analysis: Utilizing the pitchfork tool from the last bull market, we identify the golden pocket support at the $50K level. This tool has proven effective for long-term price monitoring and shows the potential for Bitcoin to reach $100K by September/October 2025, where the golden pocket resistance area lies. Strategic Plan: Monitor the $50K Level: Anticipate a significant demand at this crucial support level. Wave 5 Target: A Fibonacci extension of 1.618 projects wave 5 to peak around $100K, possibly by next year’s September/October. Altcoin Opportunities: With altcoins experiencing drops of 70-90%, they are at a substantial discount, presenting lucrative investment opportunities. Action Plan: Dollar-Cost Averaging (DCA): Begin accumulating Bitcoin and select altcoins. The $GETTEX:52K-$50K range is an ideal buying zone. Stay Vigilant: The next few months are pivotal. Monitor price actions and market sentiment closely. Position Yourself for Success: Great things are coming. Believe in the plan and prepare for the next wave of the bull market. Conclusion: The current bearish trend is merely a precursor to an impending bull run. Now is the time to pay attention, make informed decisions and position yourself strategically in the market. With the right approach, the rewards can be extraordinary. Let this technical analysis be your guide to navigating and mastering the Bitcoin market. Stay focused, stay prepared and get ready for the ride of a lifetime. Happy trading folks! =)
Long
by SiDec
EURUSD - Big Crash is coming...Hey Traders, We are still working with this complex zigzag pattern (5-3-5). We are currently in wave C = 5 waves. We have made the first impulse down ( subwave 1 ) and now correcting ( subwave 2 ). Expecting subwave 3 this week. Price has already retraced to 70% Fibonacci levels. This means we should start preparing ourselves for the reversal. We have marked our sell zone between 0.705 fib and 0.786 fib that lines up with the channel's resistance. EURUSD 1H - Jumping down to lower timeframes, we can see divergence using the MACD indicator. Divergence = Reversal soon. SHORT Setup: - Wait for break of ascending trendline on 1H - Stoploss: Above channel's resistance or above the highs after you enter - Targets: 1.060 and 1.050 Good Luck and Trade Safe!
by Tradenessfx
Bitcoin ALL-TIME-HIGH is STILL COMING: Here's WhyA hint... the RSI. The RSI is one of those reliable old-timers, especially useful in higher timeframes to determine longer period price action, such as near term and long term. Together with Elliot Wave Theory, I'm going to present to you an argument for why Bitcoin is STILL BULLISH and what my strategy/expectation is for the coming weeks. I'll also share key metrics to watch and do regular updates should the conditions mentioned in the video be met. Although I am short term bearish, I remain longer term bullish, making it really impossible to label this post as solely "short" or "long". Cheers to the Top10%'ers 🥂 __________________________ BINANCE:BTCUSDT
by CryptoCheck-
1
DOTUSDT H4 Dot currency. For storage. We put 100 lines under the word storage. I do not trade. Futures contracts, I store currencies. They are for storage, including levels. Frankly, I bought from the $4 levels. I bought from the $4 levels. I bought a respectable amount. Now. It is at $6.25. The first target, as shown in the chart, $11? I sell half the quantity, at $11. And we target $20 to $25 with the remaining half quantity. Good luck to all of you, and any question leave me in the comments.
Long
by Abdelmalak