sKeshav

sKeshav

SAIL (Steel Authority of India). It seems to be in a running or expanded correction with currently wave 'c' ongoing. Price could test either the 50% of even 61.8% fib. level before turning bullish.

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Elliott Wave analysis on Crude Oil suggests more downside closer to $60 levels.

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ICICIBANK has formed an ending diagonal suggesting a reversal in price. We are likely to see a deep correction from these levels.

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TATACONSUM - The idea is based on the Elliott Wave Theory. A five wave pattern has clearly completed on the stock with an ending diagonal in wave 5th. This suggests that a correction will take place to 50% to 61.8% fibonacci level. So a correction towards 800 is likely in the coming weeks. As markets are also weakening due to global concerns, this is where...

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AIRTEL - seems to be forming an ending diagonal pattern suggesting a reversal in the trend (short-medium term). Overall the stock is in a long term bullish cycle but a correction (Wave 2) is possible towards 700. This is only an idea based on the Elliott Wave Theory. Manage any trade/Investment at your own risk.

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GOOGL - The ending diagonal formation on the stock signals a pause in the upward move. With a downward break of the structure, we are likely to see bearish pressure here.

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BANKNIFTY is showing 5 waves down from the top. Considering this as an impulse move, the current upward structure can only be corrective. This may retrace 50-61.8% fibonacci level where it could reverse with a sharp decline. Currently, an invalidation level can only be considered at the 46,300 top, i.e start of wave 1. This idea is based on the Elliott Wave...

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TATA CHEMICALS - There is a bearish cycle forming on the stock. As long as the price stays below the invalidation of 1084, bearish pressure could remain and could move towards the 800 level with a strong resistance. This idea is based on the Elliott Wave Theory. Any trade/Investment should be managed with proper risk management.

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ADANI PORTS has made a diagonal structure after the drop. As wave 1 completes, there would be 38.2-50% correction on the stock which are important fibonacci levels. These levels also coincide with a strong resistance area where a bullish reversal can be found (wave 3). This idea is based on the Elliott Wave Theory. Trade/Invest with your own risk management.

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S&P 500 - The index has started with its bearish move now. The wave c could reach towards the lower end of the parallel channel. (3400 mark). This analysis is made with the Elliott Wave theory. Any trade/Investment should be made with your own risk management.

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SENSEX - has formed an ending diagonal like most indices in the Indian market. This concludes a correction point for the markets. Price should remain bearish below the invalidation level (on chart). Corrections can be seen up to 38.2 fib level (at 51,000 mark). Or lower. This idea is based on the Elliott Wave Theory. Any investment/trade should be made with...

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NASDAQ (US100) - The market has made a corrective move upwards in an ABC form. The larger trend correction can be termed as WXY with Y likely to end near the previous low (10,440), or possibly lower. The last high of 15930 needs to hold with price making lower lows from here onwards. This idea is based on the Elliott Wave Theory. Manage any trade/Investment with...

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Bitcoin seems to be expanding on its correction and a new low could be seen by the next year. Invalidation to this analysis remains at 31800. Below this, the bearish count remains active and could trigger a double bottom or a lower low.

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HDFCBANK - The stock has a bearish wave downwards and could continue to further lower levels. A consolidation below the trendline is a possibility. However, the moves are quite strong when in wave 3. This idea is based on the Elliott Wave theory. Manage your own trade/Investment with proper risk management.

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RELIANCE - The stock has started an impulse downside. As long as price is below 2583, the bearish count would remain intact and a strong fall could be seen next in the wave 3. This idea is based on the Elliott Wave Theory. Manage any Investment/Trade with caution and risk management.

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TCS remains at a crucial resistance level. While a move to 3580 could trigger a bullish scenario, price below the level has a bearish touch. This is only an idea. Any trade/Investment should be made with proper risk management only.

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AXISBANK - A correction downside is a possibility as it seems to have completed 5 waves up. A resistance (trend) line can also be seen which the price has rejected. A downside break opens up opportunities for selling.

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A follow up on the previous idea: The market seem to have completed the structure. As long as the price remains below the Invalidation level, the bearish view remains active. The monthly candle also seems to be closing inside the structure which supports this idea. This is only an idea based on the Elliott Wave Theory. Manage your own risk while trading/Investing.