RAMCO Industries on the mark! - Combining Bollinger bands with Elliott wave.

 Sometimes, a straightforward price pattern, when combined with price indicators and advanced technical tools like Elliott Wave, can yield remarkable results! See yourself how we identified such a massive move in RAMCO Industries. Check out how we accurately predicted on the possible up move on RAMCO Industries which has rallied more than 6% achieving our targets and made a high of 324.35 levels.

We published the following research on RAMCO Industries pre-market on 29^th November 2024 in "Vayu Momentum Report” which our subscribers receive pre-market every day.

RAMCO Industries Daily chart anticipated as on 29^th November 2024
Wave Analysis as on 29^th November, 2024:

RAMCO Industries since 8th November, was struggling to give a close above its crucial resistance level which was near 295 levels. In the previous session, prices finally managed to give a close above it when major indices were falling. At the end stock closed on a positive note with a gain of 2.36%. A bullish candle closing above 295 levels further strengthens the stock’s outlook. Now we need follow up buying which can lift the prices higher towards the upper Bollinger bands which is near 312 levels. Also, RSI is currently trading near 68 levels which gives prices the space to trend further.

As per wave perspective, wave (B) completed on the downside near 230 levels and since then the entire rise is in form of wave (C).

In a nutshell, trend for Ramco Industries looks bullish. Follow up buying is required positive momentum to continue with the targets of 312 levels or higher.

Key Resistance: 320

Key Support: 295

Strategy– Long positions can be created above 305 levels with the targets of 312 levels followed by 320 levels with the stoploss of 295 levels.

RAMCO Industries Hourly chart Happened as on 9th December, 2024
Happened – As we expected after breaking above 305 levels, stock achieved both our given targets. Prices showed a good rally of more than 6%. This demonstrates that a combination of Price action, price indicators, and Elliott Wave can help achieve targets more confidently and consistently!

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Bank Nifty - How to identify a move by combining Neo wave and Gann

Neo wave along with price action helps to form powerful setups with good accuracy. In the previous monthly report dated on 22nd November 2024, we anticipated a possible pullback in Bank Nifty and it moved precisely as expected.

Take a look of how we anticipated a pullback in Bank Nifty. Here is the detailed research: -

Bank Nifty Weekly chart – Anticipated on 22^nd November 2024
Bank Nifty Daily chart with Bollinger Bands – Anticipated on 22^nd November 2024
Bank Nifty Hourly chart– Anticipated on 22^nd November 2024
Wave Analysis as on 22^nd November 2024:

In the previous month, Bank nifty experienced a sharp decline in the first week of October 2024, followed by a broad range bound movement between 52495 and 50770 levels. Major banks like IndusInd Bank, Kotak Mahindra Bank, and Axis Bank posted disappointing quarterly results losing -27%, -6.63%, and -5.90% respectively in the previous month. As the majority of the private banks underperformed, the index failed to maintain its highs and the index also broke support of 51200 & made a low near 49780 on 21st November 2024 before reversing up again!

Weekly Chart – the Index has still not closed back above its prior weekly high and it’s still trading below the mid Bollinger Bands® levels. This keeps the medium-term trend on the downside however, we can expect short-term pullback on the upside given the sharp reversal from the important support near 49800 levels.

Daily Chart - Recently, the index formed a hammer candlestick pattern near a crucial support trendline, followed by an upward bounce which might suggest a pause in the ongoing downtrend. If Bank nifty sustains above its Gann level of 51416 levels, a deeper pullback can then be expected up to the next Gann level which is at 52327.

On the other hand, a break below 50508 would indicate that selling has resumed and a move till 49675 can be expected which is an important support level.

Hourly Chart - Since past 2 days not a single hourly candle has given a close below previous candle’s low which suggest strength.

As per the wave perspective, Bank Nifty is showing a short-term pullback in a medium-term downtrend. A break above 51416 can result into a deeper up move which will also confirm that the entire fall is complete in the form of Diametric pattern and we are seeing retracement of the fall on the upside.

In a nutshell, Bank Nifty is at a crucial juncture. Looking at the price action, we can expect short-term upside pullback before the downtrend resumes. The next few days of price action will further confirm this scenario. A break above 51416 can take prices to next Gann level of 52327.

Bank Nifty Happened as on 5^th December, 2024:
Happened:

In our past monthly report, we mentioned, if Bank nifty breaks 51416 levels then we can expect a pullback towards 52327 levels which is also a Gann level, and BANG ON!! Bank nifty moved precisely and achieved both our given targets within 8 trading sessions and made a high of 53387 levels.

We were able to capture this rise of more than 1600 points by using Neo Wave and Gann.  It is amazing to see how these advanced methods get aligned together.

AGNI (index) Research – Get access to daily research reports and advisory calls on Nifty, Bank Nifty, and Finnifty along with charts, options strategy, and a complete trade plan. Know more

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PB FINTECH BANG ON! Using Price action and Ichimoku Cloud

 Basic price patterns and price indicators work in unison, leading to interesting results! Our recent analysis on PB Fintech, affirms this theory and makes one trade more confidently and with certainty! See below our prediction on PB Fintech, a momentum stock that has rallied by more than 7% in just 3 trading sessions.

Ichimoku cloud - The Ichimoku Cloud is a technical tool that indicates the support and resistance, identifies trend direction, gauges momentum, and provides trading signals.

We published the following research on PB Fintech pre-market on 27^th November 2024 in "Vayu Momentum Report” which our subscribers receive pre-market every day.

PB Fintech Daily chart anticipated as on 27^th November 2024
Wave Analysis as on 27^th November, 2024:

As IT was the top performing sector in Nifty in the previous session, Infosys gained more than 3.72%. PB Fintech Ltd since September 2024, was consolidating in a broader range of 1585-1775 levels. Recently, prices have given a breakout of the consolidation and managed to show good rise.

On the daily chart, since past 2 days prices have formed a strong bullish candle consecutively suggesting increase in buying momentum. Also, prices faced support of the Ichimoku cloud and witnessed sharp pullback on the upside. For now, we can expect bullish momentum to continue and can expect minimum targets of 1970 which is a previous swing high level.

In a nutshell, the current trend for PB Fintech has shifted on the positive side. A break above 1865 levels is must for bullish momentum to continue. While on the downside 1800 is the crucial support.

Strategy – Long positions can be created above 1865 levels with the stoploss of 1800 levels with the target of 1920 followed by 2000 levels.

PB Fintech Happened as on 4^th December 2024
Happened – As we expected stock witnessed a good rally of more than 7% within 3 trading sessions and BANG ON!! The stock achieved both our given targets. As IT has been consistently outshining all the other sectors, PB Fintech is following along. It is fascinating to see how accurately combining basic indicators along with price can help to predict price targets with accuracy.

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Nifty Target for Tomorrow with Time and Elliott Wave

 Nifty is moving precisely as per Time and Elliott wave pattern.

Prices are now approaching 24500 levels but will this rally continue and up move sustainable?

Look at the below charts of Nifty combined with advanced Elliott wave – Neo wave along with Time cycles:

Nifty daily chart:
Nifty Hourly chart:
Nifty daily chart clearly shows sharp rise on upside form the channel support.

Time cycle of 55 days – We can see that prices formed a low near the last red line which was the final zone of Time cycle.

Prices formed a low and rallied sharply higher despite of Adani scandal event and worst GDP numbers. This shows relative strength.

The entire down move which started from 26200 levels completed in form of wave a and we are now witnessing up move in form of wave b.

Nifty hourly chart – shows inverted Head & Shoulder pattern breakout. We have mentioned in earlier research report under AGNI research report that prices are going to give an upside breakout.

We were able to capture a down move from 26000 to the lows of 23300 which achieved the downside target of topping H&S pattern.
Prices are now showing bottoming H&S pattern on hourly chart and the same gives upside target of 25500 levels.

The immediate target on upside can be Gann levels of 24728 levels unless and until we see close below prior candle low.

In a nutshell, by combining simple pattern along with Time cycle and Elliott wave can provide strong forecasting ability for trading. We can expect positive momentum to continue till 24728 or higher as long as prices protect 24250 on closing basis.

AGNI (index) Research – Get access to daily research report and advisory calls on Nifty, Bank Nifty, Finnifty along with charts, options strategy, and a complete trade plan. Know more

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How to catch Momentum using ADX and Cup and Handle formation

 It is possible to capture massive moves in stocks using price patterns along with simple indicators like the ADX (Average Directional Index). Check out how we selected PGIL which has rallied more than 12% since 22^nd November 2024.

ADX- The average directional index (ADX) is a technical indicator used by the traders to determine the strength of a trend. It commonly includes three separate lines. These are used to assess whether momentum is building on the stock or not.

We published the following research on PGIL pre-market on 22^nd November 2024 in "Vayu Momentum Report” which our subscribers receive pre-market every day.

PGIL Daily chart anticipated as on 22nd November 2024
Wave Analysis as on 22^nd November, 2024:

In the previous session, PGIL showed sharp rally of more than 4% in a single trading day despite fall in major indices. The stock has formed a cup and handle pattern on the daily chart. Price has closed above 1100 levels which confirms breakout of the said pattern. On the daily chart, ADX is suggesting strong momentum can continue in this stock as it is showing readings of 28 which is above 25.

Also, since 13th November not a single candle has given a close below previous day's low which suggest strength in ongoing trend. After a sharp rally one should use buy on dips method to enter into the trend.

Key Resistance: 1190

Key Support: 1100

Strategy: Use dips towards 1110-1120 as a buying opportunity for a move towards 1185-1190 levels as long as 1100 holds on the downside.

PGIL Happened as on 2^nd December 2024
Happened – After we published the report, PGIL moved as expected. PGIL has given breakout of Cup and Handle pattern with huge volume which was a bullish sign and Bang on!! After a dip, stock moved up and achieved both our given targets in 2 trading sessions and made high of 1257 levels which is more than 12% move from lows.

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