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NSE GLAND: A Critical Resistance Zone That Could Shift the TrendTimeframe: Daily In NSE GLAND, the price has respected the channel in three distinct moves, indicating a potential 3-wave correction setup. Currently, it is trading below the 50 and 100 EMA, with ATR at 55.96 and ADX at 42.07 . After reaching a high of 2220, the price declined and formed a corrective structure. Wave (A) completed at 1585.7 , followed by wave (B) at 1964 . Presently, wave 4 of wave (C) is in formation. The 1545-1585 zone serves as a strong resistance, where a decisive breakout could shift the trend. However, the price still needs to reach 1328 to complete a 100% extension of wave A, making wave C = wave A at 1328 . A strong throw-under could enhance the probability of revisiting levels near wave (B). We will update further information soon.
NSE:GLAND
by forextidings
NSE IOC – Approaching a Key Demand ZoneTimeframe: Daily After reaching a high of 196.8, the price has declined by over 39% in 13 weeks. It is currently trading below the 50/100 EMA band, with ATR at 3.68 and ADX at 26.02 . According to the Elliott Wave projection, the peak of 196.80 can be identified as a wave ((3)). The security is currently undergoing the formation of a corrective wave (4). Wave (B) formed at 185.97 , while wave 4 of wave (C) was completed at 145.10 . NSE IOC is now setting up for the final wave 5 of wave (C). Two key Fibonacci relationships help estimate the end of the correction: 1.618 Fibonacci extension of wave (A) at 106.54 (for wave C) 0.618 Fibonacci extension of wave 1 at 115.52 (for wave 5) The price is expected to settle between 115 and 105 , which serves as a key demand zone for buyers. If the price breaks out and sustains above 129.75, traders can target the following levels: 139 – 156 – 172+. we will update further information soon.
NSE:IOC
by forextidings
Is Tata Motors Ready for a Bullish Reversal?Timeframe: Daily Tata Motors (NSE) has been in an expanded flat correction pattern for the past 11 months. In this pattern, the highest high (HH) was 1179, and the lowest low (LL) was 683.2. Currently, the price is trading below the 200, 100, and 50 EMA levels, indicating a bearish trend. In this expanded flat correction: Wave (A) completed at 855.4, Wave (B) peaked at 1179, Sub-wave 4 of Wave (C) touched 786.65, Sub-wave 5 is now unfolding. Once Wave 5 is completed, traders can look for buying opportunities with target levels at 799 – 951 – 1050+. First, it’s crucial to identify the end of Wave (C) to confirm the correction’s completion and a bullish reversal. Projecting ending point of wave (C): Wave (C) may end at 2.618% of Wave (A) around 628.7. Wave 5 has multiple potential targets/support levels: 0.618 extension of Wave 1 at 526, 0.382 extension of Wave 1 at 628, 1.618 reverse Fibonacci of Wave 4 at 657, 2.618 reverse Fibonacci of Wave 4 at 562. We will update further information soon.
NSE:TATAMOTORS
by forextidings
NSE HEROMOTOCO: Are Bulls Strong Enough to Sustain Impulse?Timeframe: 30 min Brief analysis: HEROMOTOCO has started a five-wave impulse cycle from the low of 2745.5. Price has accomplished wave Y of wave (4) and started impulsive wave (5). Buyers will have an opportunity with a captivating risk reward to ride the trend after confirmation for the following targets: 3167 – 3210 – 3260+ . In-depth analysis: NSE HEROMOTOCO has formed an impulsive cycle after an extreme low. In this case, the security is trading above the 20,50, 100, and 200 EMAs, which indicates that the bulls are in control. The formation of wave two was a running flat which retraced 0.618% of wave (1) at 2795. The third wave was an extensive wave that extended 3.618% of wave 1. Wave 4 has formed a double zigzag formation with wave W-X-Y, in which wave W was a zigzag, and wave Y is an expanding triangle. The retracement of wave (4) is 0.382 of wave 3. Currently, the price has broken out and traded above wave d, which signals that the big move is about to unfold. Corrective structure always holds by either wave X or B-D trendline in expanding triangle. The price can take a retracement if the demand is growing with low volume. If the price breaks out at 3131, traders can initiate a long position for the following targets: 3167 – 3210 – 3260+ . The setup will be invalid after the breakdown of wave e. Target measurements: 100% Reverse Fibonacci of the 4th wave at 3208, and 38.2% extension of wave 1 through the 3rd wave at 3212. 50% Fibonacci extension of wave 1 through 3rd wave at 3261. Nearby high of wave B at 3167. We will update further information soon.
NSE:HEROMOTOCOLong
by forextidings