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MCX - 5-Wave Impulse Complete, Correction Ahead?The recent price action in MCX has completed a 5-wave impulsive sequence, giving us valuable insights into potential upcoming moves. The Larger Picture (Daily Timeframe) : Starting from the prior major low, we have witnessed a clean impulse structure unfolding. Wave 3 topped at 7,048.60, completing its previous impulse sequence. Following this, a textbook ABC corrective structure unfolded into Wave 4, completing near 4,408.15. The internal symmetry within this ABC correction was near perfect, with Wave C nearly matching Wave A (100% projection). Post Wave 4, the price resumed higher into Wave 5, where we now observe signs of completion. Wave 5 Extension and Target Zone Wave 5 extended strongly and has already entered its projected target zone: 100% projection of Wave 1 placed near 8,330. 1.618 extension projection reached near 8,922. Ideal Correction Zones Now that Wave 5 may have completed or is very close to doing so, we shift focus to probable retracement areas where price may find support in case of a corrective phase: 0.382 retracement at 6,853.50 0.5 retracement at 6,386.60 0.618 retracement at 5,919.65 Dynamic Update Note The correction zones have been plotted based on the current observed Wave 5 high. Should Wave 5 extend further, these support levels will be recalculated accordingly. Traders are advised to keep monitoring for further price action confirmation before positioning. The overall Elliott Wave structure here reflects the market may now enter a corrective phase as per standard wave behavior after a completed 5-wave advance.
NSE:MCXShort
by WaveXplorer
1
Eicher Motors breaks?Eicher Motors breaks out of resistance with volume eyes set on the upper trendline near 6011. After weeks of consolidation between 5250 and 5575, Eicher Motors has finally broken out of its sideways zone with strong follow-through and bullish intent. Price not only cleared horizontal resistance but also pushed above the red supply zone around 5645, confirming buyer dominance. This breakout aligns with the broader ascending channel that has been intact since March. The structure now hints at a potential continuation toward the upper channel line, projected near 6011 level highlighted risk-reward 1:3, From a fundamental lens, Eicher has seen improved export numbers and rising traction in the premium segment, especially with Royal Enfield's increasing demand in overseas markets. If macro sentiment remains supportive, this technical breakout could be backed by earnings momentum in the upcoming quarters. On the flip side, a failure to sustain above ₹5575 may drag the price back to test the breakout zone around ₹5430–₹5250. Like, comment your thoughts, and share this post Explore more stock ideas on the right hand side your feedback means a lot to me! Disclaimer: This post is for educational purposes only and should not be considered a buy/sell recommendation.
NSE:EICHERMOTLong
by iVishalPal
1
HISTORIC BREAKOUT IN L&T FINANCE! The stock is trading at high levels at all times. Why is this a strong buy? 1. The Stock has given a breakout on a monthly as well as weekly chart. 2. When the stock breached the important levels, the volume was significantly high. 3. It has given a good close after the breakout and sustained the selling pressure. 4. The Nifty Financial Index is also in favour. Note: This stock can give 20-30% returns in the coming 1-2 months. This is the right moment to invest in this sector for potential returns. Stop Loss: Though the stock has given a breakout, for confirmation, we have to see whether it will sustain throughout the week or not. If the weekly close is above our levels, we will add some more quantities.
NSE:LTFLong
by gauranshvyas7415
JINDAL STEEL: Leading Diagonal Starting?JINDAL STEEL & POWER appears to be constructing an initial impulsive advance that may very well be taking the form of a Leading Diagonal. The advance from the 770 lows has so far developed into a structure where Wave 4 has overlapped with Wave 1 territory, suggesting that a classical impulse structure may not be applicable here. Instead, the price action fits neatly within the characteristics of a leading diagonal pattern, which allows such overlaps. Wave 1 terminated at 923.80 followed by a corrective pullback into Wave 2 at 833.60. The subsequent rise into Wave 3 reached 985.80, which completed near the 100% extension of Wave 1, supporting the diagonal scenario where extensions are often limited. This was followed by a clear a-b-c correction into Wave 4, which found support at 882.65. Notably, the c-leg of Wave 4 reached close to 1.618 times the length of Wave a, adding further symmetry to this structure. The current advance may therefore represent Wave 5 of this diagonal, projecting towards the 1036 to 1131 region of Fibonacci extensions. However, since leading diagonals typically signal the start of a larger structure, this entire formation could well be unfolding as either the first leg of a higher degree impulse (Wave 1) or as an initial Wave A of a larger correction. The labeling is thus kept open as "1/a" to reflect both possibilities at this stage. The invalidation level for the current bullish scenario remains at 882.65, below which this entire leading diagonal interpretation would require reassessment. Until then, the bias remains upwards as the final leg of this structure seeks completion. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
NSE:JINDALSTELLong
by WaveXplorer
A Step-by-step Guide to One of the Chart Analysis MethodHello Friends, Welcome to RK_Chaarts, Today we're going to learn step-by-step guide to one of the chart analysis Method by analyzing a chart of " Varun Beverages Ltd. (VBL) " to identify a trend change opportunity.(Educational Post). Let's get started! Applying Elliott Wave Theory First, we can see that the bottom formed in March 2025 is likely a Wave ((4)) in Black as a bottom, marked as such on the chart. From there, Wave 5 should move upwards. Looking at the daily timeframe, we can see that price gone up in five sub-divisions of Wave (1) in Blue of Wave ((5)) in Black have completed, marked as Red 1-2-3-4-5, that means blue intermediate Wave (1) has ended, and Wave (2) has begun, which is unfolded in corrective nature marked as WXY in Red of Wave (2) in Blue. According to the wave principle, Wave (2) should not retrace more than 100% of Wave (1), which started from the 419.65 bottom. Therefore, 419.65 becomes our invalidation level. If the price moves below this level, it would invalidate our Wave (2) principle. Assuming our wave counts are correct, the upward movement is in the five sub-divisions, and the downward movement is in the three sub-divisions. Definitely, the conviction is increasing that we have correctly identified Waves (1) and (2). Shown in chart image below Tweezers at Bottom Now, we can see that Wave 2 has retraced more than 70% and has formed a Tweezer candlestick pattern at the bottom. A bearish candle was followed by a bullish candle, both with a Tweezer-like shape, with the second candle being green. This could indicate a potential reversal. Moreover, the latest candle has also taken out the high of the previous two candles, showing follow-through. The price has also shown follow-through on the upside after that. So, this can be considered as the first sign that Wave 2 might be ending, marked by a significant Tweezer pattern at the bottom with a follow-through candle. Shown in chart image below Significant Breakout Pending Yet Secondly, from the top where Wave 1 ended, we've been considering the decline from around 560.50 as a resistance. We drew a resistance trend line, and if the price breaks out above it, we can say that the resistance trend line has been broken, indicating a breakout above the last fall's trend line, Which is not Broken yet. Shown in chart image below Dow Theory The Dow Theory states that when the price moves up, it forms a Higher High, Higher Low pattern, and when it moves down, it forms a Lower High, Lower Low pattern. Somehow, the Dow Theory also needs to change, as the last swing was forming a Lower High, Lower Low pattern. The last swing high was at 479, which we marked with a green arrow. If the price crosses above it, we can say that the price is now forming a Higher High pattern. This indicates that the Dow Theory is changing from a falling trend to a rising trend. Shown in chart image below Stop Loss Once the Dow Theory also changes, we can use the last swing low at 446.15 as our stop loss. However, this stop loss will only be valid after the Dow Theory changes; otherwise, the invalidation level will remain at 419. Shown in chart image below Projected Target of Wave (3) So, friends, we've applied the Elliott Wave principle, and there's been a significant retracement, all within the valid range, without violating any rules or triggering invalidation. There's limited room left on the downside, and then we have the Tweezer candlestick pattern, which is a significant sign. We're expecting a reversal from there, and the price has followed up with an upward move. What's left now is the breakout above the resistance trend line and a change in the Dow Theory. Once these two conditions are confirmed, all parameters will match, and we can add a position to our portfolio using the last swing low as our stop loss, instead of the invalidation level. This is how chart analysis is done for investment purposes. We've seen many signs in our favor, and yet we still use a stop loss to prevent significant losses in case the stock or market moves unexpectedly. This is what stop loss is all about - minimizing potential losses. We've also discussed the target projection based on Wave theory, 161.8% level, which we explained through an image. So, friends, I hope you've understood the entire conclusion and learned how to analyze charts using different methods, one of which we shared with you today. 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_Chaarts 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_Chaarts 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:VBLEducation
by RK_Chaarts
27
[documentation] How I take a long trade.let's get straight to the point. If I believe that I want to be long a stock, I: 1. make sure the underlying index is in a long trend (rather, it has not corrected sharply in the near left, because all indexes are long by default, they enter bearish periods from time to time.) NIFTY 3 day chart: - nifty above 7SMA (doesn't matter what EMA you use, as long as it is not obnoxiously large like 77. with that value, the underlying is about to be above it forever). (you can look at other indices like the nifty smallcap but we live in an age where everything is fucking correlated. don't overkill.) preliminary check complete. SUZLON, alright. let's swing long. 1. how did I shortlist SUZLON? well, I have been following a bunch of stocks for a long long time. I came back to check how this one was doing, and viola, I had a solid trade idea. (I have swung Suzlon on the long side successfully before, and that just adds fuel to my fire; this step isn't necessary either). second, and most importantly, fundamentals. look at these things for the Q in particular: a. increasing EPS quarterly YoY. b. EPS growth Q YoY >> EPS growth trailing 12 months. (in lazy words, the company owes more pennies to shareholders this Q that it did on average in the last 12 months. this + point a guarantees(though nothing is certain) that the upward trend of the company's trajectory is more probable than a downward trend) c. increasing revenue growth, total equity growth, etc. these things help weed out the losers from the probable winners. don't swing a long when you can see some faults. use your abilities to their best, hombre. fundamentals aside, I am a technical trader. if I wanted to be a fundamentalist, I would buy an index and subscribe to a church/temple/mosque/whatever. as a technician, I believe that there is more money in the mountains and troughs of a stock's chart. the technicals: first, the trade setup. 1. whatever my idea may be, I look for the max possible loss I will be taking if shit goes south. there's no such thing as peace of mind, but there's relative peace of mind knowing what you lose when you're wrong. where do we set the SL? look at the D chart: 60? wrong. everyone and their momma will have their stop at a juicy round number. remember, the stock does not owe you to bounce off an arbitrary level at an exact point. so where then? look at the 3 day chart (here, any higher tf will work, I just prefer D, 3D, 7D). the current rally started where the lightbulb is placed. SL will be just below that: 58.92 or whatever fraction shines your shoes. keep it below 58. that gap between 60 and 58 is where you will turn most of your SL losers to at least breakeven winners. so, SL: 58.92 . 2. I scale into my longs. further reduction of risk as I work with unrealised profits. A wise man once said, great rallies don't end in a single day. lower risk, lower but more sure reward. me likey. I divide my net buying into four chunks. the buying will look like this: py(pyramid) 1: 66.66 py2: 67. (but i need a strong day for this). py3: 71.69. py4: near ATH: 75? these pyramids are approximate and I have no idea how the stock will behave on the daily chart. maybe it jumps 10% in a single day. maybe it takes 17 small green days. I don't know and I don't care. I want to get in my position between 67 and 75 with some unrealised profits. next steps: 1. TP levels and 2. updated SL. let's start with 2. 2. updated SL. you don't want a popcorn trade, trade that goes in your favor, completes its course and drops back down to your SL, giving you a burnt taste in your mouth. no sir. you want to figure out what the stock is doing to a better than a 50/50 chance. remember, huge profits >> positive breakevens >> negative breakevens >> SLed trades >> massive loss still held because of hopium. remember that order. you will graduate from consistently left to consistently right (hopefully, not politically). yada yada yada, how will you update the SL, wildhorse3? 1. till the stock goes well above 76; no updates to SL. 2. if the stock goes to 75 (prior resistance); has a sharp reversal; then we wait for a confirmation to get out/downsize. i'm talking about this situation. look at the possibilities: if red happens (aka failed retest); downsize rapidly, get rid of pyramids, congrats, you had a positive breakeven. pyramid later on if the stock does move to the up; that's for later. scenario green: do nothing, hold now, you made it. in this case, move the SL up to ~67; don't move it up to 72 like a fool (just yet). the reason: you want to give the stock some room to move. when something goes up, it does not owe you anything, and that includes, going up in the near term, going sideways, going down. (I don't mean to scold you, this text is written for just one person, and that is me. I scream when I remember a past mistake. take my lessons, or don't.) keep repeating this till eventually, you're out of a trade because your SL was hit. (and hopefully this SL was a level where you made bank) 1. TP levels gonna keep it simple, I am not used to writing long paragraphs. if you want to read more, I have a telegram channel where I keep blabbering. reach out for an invite. TP levels: a. zoom out. where might bears make money? ATH? das right. make that your TP1. b. what if das not right? zoom further out 190? 400? these log charts are sneaky! further older ATHs? well das semi right. c. just tell me the levels, bitch. okay, and mind your language. I don't know. I look to cover my losses, and I let a winner run (small losers, big big winners) when the pain of holding is greater than the joy of holding, I start closing the position. how do I measure the pain? well, I open my portfolio 15 minutes before close of the day. If I am greeted by a blast of red fumes, I know I need to work on my holdings in the near term (not. right. away.) if it is lush green, I: a. keep an eye open if it is too lush. stocks don't go up forever, and usually the green climaxes are so lush that it makes you want to buy more. that, my good sir, is the time to sell. b. if it is moderately okayish, modest toned down green; I do nothing. in summary, a summary: a. I wanna swing SUZLON long. b. SL: 58.92 c. pyramiding (4 increments): between 66 and 75. d. why SUZLON, why now? read this wall of text. as for why now, I will need to make another wall of text explaining why I enter now. (the gist: trending on D, 3D, 7D, nice overdone pullback, good market, above SMA, burst of volume post earnings, solid fundamentals, a FAFO idelogy). d. TP: if you want a level, go for 82.69.
NSE:SUZLONLong
by wildhorse3