Possibility of uptrend It is expected that the upward trend will form and advance to the resistance levels as well as the resistance trend line.
Neo Wave
Correction It is expected that after some fluctuation and correction, the beginning of an upward trend will be formed, and with the breaking of the resistance range, the confirmation of the upward trend will be formed.
Check the trend It is expected that after some fluctuation and correction to the specified support levels, the continuation of the upward trend will form and advance to the specified resistance levels.
If the index crosses the level of 61.8%, the downward trend will continue
Possibility of correction It is expected that the price will change the trend in the current resistance range and the level of 161.8% and we will see the beginning of the correction process.
If the price stabilizes above the resistance range, the continuation of the upward trend is likely
Check the trend According to the behavior of the price in the current resistance range, possible scenarios have been identified.
If the price stabilizes above the 78.6% level, the continuation of the upward trend is likely
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.
Short trade on gold Gold before exiting the historical high
will have a return to the center of gravity.....
What do you think?
Is the third wave coming? It seems that we are nearing the end of a time correction,
So, we expect a sharp movement to happen after that,
Ready?
NTRN analysis (1D)From where we placed the red arrow on the chart, it seems that the correction of NTRN has started.
It appears to be in a triangular or diametric pattern.
The price can go up to the red range.
Price now appears to be completing wave D.
The red area is a supply, where you can look for sell/short scalp positions.
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Possibility of changing the trend If there is a trend change in the current support range, it will be possible to start an upward trend up to the specified resistance levels.
Otherwise, the continuation of the downward trend will be formed up to the specified support range
Check the trend It is expected that the price will fluctuate in the current resistance range and then a trend reversal will take place.
If the price crosses the resistance range, it can move up to the level of 138%.
Check the trend The uptrend is expected to advance to the specified resistance levels. Then, according to the behavior of the price in the resistance range, there will be a possibility of changing the trend
Possibility of uptrend According to the behavior of the price in the current resistance range, possible scenarios have been identified. It is expected that the upward trend will continue and the price will advance to the resistance trend line
Correction The corrective trend is expected to continue up to the specified support range. Then, according to the behavior of the price in this range, it is expected that a trend change will be formed
Possibility of uptrend It is expected that the price will cross the resistance trend line and the resistance range and then advance to the next resistance trend line range.
Possibility of changing the trend It is expected that after some fluctuation and correction in the current support range, a trend change will be formed and we will see the beginning of the upward trend.
If the price crosses the 100% level, the correction process will continue
Possibility of uptrend According to the behavior of the index in the current resistance range, possible scenarios have been identified.
As long as the price fluctuates above the range of the support trend line, the continuation of the upward trend is likely
Uptrend It is expected that the upward trend will continue until the specified resistance range, then according to the behavior of the price in this range, the continuation of the movement trend will be according to the specified paths.
Uptrend It is expected that after some fluctuation and correction to the support range, a trend change will be formed and we will see the beginning of the upward trend.
With the break of the support range, the continuation of the corrective trend will be likely
DAR analysis (12H)The correction of DAR has started from the place where we placed the red arrow on the chart.
Apparently, the correction is a diametric.
The red zone is where the price can reject downwards.
We are looking for sell/short positions in the supply range.
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
What will be the fate of PEPE?PEPE correction has started from where we entered "START" on the chart.
Several identical waves have been identified on the chart, which appear to be related to a diametric pattern.
From the red range, we expect PEPE to reject towards the two specified targets.
Closing a daily candle above or below the specified invalidation levels will cause the corresponding movements to be violated
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
MEW analysis (6H)It seems that a large pattern (triangle or diametric) is forming, and we are now in wave D of this pattern.
The D wave pattern can have several scenarios, but a supply and demand range can be determined for MEW.
In the demand range, we can look for buy/long positions
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
BTC still looks bearishA support range has been broken and has now become supply and a flip range has formed on the chart.
The price is expected to reject downwards by hitting the red box.
We have two important targets on the chart that we have identified.
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
