Wave (3) Awakening: Shri Jagdamba Polymers Ltd. AnalysisOverview:
Shri Jagdamba Polymers Ltd. has completed Wave (1) and Wave (2) in blue of Intermediate degree on the weekly chart. The stock now appears to be starting Wave (3) in blue, which should unfold into five subdivisions as Wave 1-2-3-4-5 in red of Minor degree . Currently, Wave 1 in red has finished its subdivisions as Wave ((i)) and Wave ((ii)) in black of Minute degree . Now, Wave ((iii)) in black of Wave 1 in red seems to be starting, indicating a bullish outlook.
Wave (3) Characteristics:
- Strong Impulse: Wave (3) is typically the most powerful and extended wave, characterized by strong upward momentum.
- Fibonacci Extension Target: If Wave (3) in blue reaches 161.8% of Wave (1)-(2) , the price target can be approximately 3300 .
- Subdivisions: Wave (3) subdivides into five smaller waves (1-2-3-4-5 in red of Minor degree), with each smaller wave further subdividing (e.g., Wave 1 in red subdivides into ((i)), ((ii)), ((iii)), ((iv)), ((v)) in black of Minute degree).
Current Technical Setup:
- Current Price: Observing the price action.
- Key Levels:
- Invalidation Level: 450 (marked as the low of Wave (2) )
- Fibonacci Extension Target: 3300
Technical Indicators:
- Wave ((iii)) Starting: The initiation of Wave ((iii)) in black of Wave 1 in red signals potential strong bullish momentum.
- Bullish Outlook: The completion of preliminary waves ((i)) and ((ii)) in black suggests that a significant upward move is likely ahead.
Risk-Reward Analysis:
- Risk: Low risk with the stop-loss set at 450 .
- Reward: High potential reward with a target of 3300 .
- Risk-Reward Ratio: Favorable due to the substantial upside potential and defined risk level.
- View: Long term Investment pick.
Trading Strategy:
- Consider entering a position as Wave ((iii)) in black of Wave 1 in red unfolds, with a stop-loss at 450 .
- Monitor for further confirmation of upward movement and add to positions as Wave ((iii)) progresses.
Conclusion:
Shri Jagdamba Polymers Ltd. is poised to start Wave (3) in blue of Intermediate degree , characterized by strong bullish momentum. The current setup indicates the start of Wave ((iii)) in black of Wave 1 in red, offering a compelling risk-reward opportunity. Monitoring the progress of these waves and the overall price action will be crucial for optimizing entry and exit points.
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.
Thirdwaveinception
All Time High created for AFRMAffirm has been trading in a strong uptrend and recently touched its all time high and has been trading at higher levels. It has potential to touch 200-220 with in a few days in this rally before any significant profit booking happens.
Disclaimer:
For educational purpose only. All disclaimers apply.
Chart of the week: GRASIMGRASIM has been rising slowly on its pace with out much difficulty. It seems Smart Money has been active in this stock for a long time and it was being accumulated for a long time for a much much higher targets. The way GRASIM has been rising, it may become a multibagger stock in coming months and years.
Buy GRASIM at current prices with SL 1200 for positional and for targets 3000++ and 5000++ in next 1-2 years.
For ecucational purpose only. All disclaimers apply.
|wave5 of 3rd of a Third of a 3rd|elliotwave|WAVE3*UPDATED*LONG|As described, here is the updated chart of my 3rd in a 3rd in a 3rd of a single 5 wave motive wave from VDUMPS until now.
Notice the 1-2 1-2 1-2 beginning, requiring a concentric 4-5 4-5 4-5 finish.
Notice the degree of the 2 major corrections within the inner 3rd, the same degree. And then notice the containing wave 2 and wave 4 of the wave 3 in yellow, of the same degree again.
|wave5 of 3rd of a Third of a 3rd|elliotwave|WAVE3*UPDATED*LONG|As the title suggests, here is the updated chart of my third of a third of a third elliot wave hypothesis.
Expect a near vertical rally from todays low, as we are within a sub-wave3 of the first wave 5 having completed the larger degree wave 4 of the even larger wave 3.
Next will be consecutive wave 4 wave 5 wave 4 wave 5 of higher degrees to complete the entire pattern sometime this Spring.
Feel free to ask any questions.
016. PIGGISH PLAY - Long Agnico Eagle Mines (AEM)Gold mining stocks are set to pop sometime this week or next. AEM is, in my not-so-humble opinion, the best of the bunch when you compare top and bottom lines.
However, the only bottom line that matters is that this stock is in the middle of its cubed-third wave on the daily timeframe, and in the middle of its quartic-third wave on the weekly timeframe.
Basically, AEM's current price trend is the solution to the movie Inception, which is why I am going to long it either tomorrow afternoon or Thursday morning, depending on how the market shapes its weekly close.
Add to this very-transparent-third-wave-trend a mighty tailwind known as the FED minutes, and we have ourselves a winning trade.
- Perma_Eagle
NYSE:AEM
TVC:GOLD
FX_IDC:XAUUSD