Wednesday, May 23, 2018

Auropharma: Elliott wave to capture downside!

Pharma sector has been bearish since start of the year and it has continued to underperform overall market. It is important to understand the topping process which can then be used for shorting opportunity to capitulate the down move. The below research shows how Elliott wave helped us to capitalize the sharp fall!

Auropharma 60 mins Chart: (Anticipated on 18th May 2018)

Auropharma 60 mins Chart: (Happened on 21st May 2018 )

(Part of research taken from The Financial Waves Short Term Update dated 18th May 2018)

Wave Analysis:

We can observe that Auropharma has been moving in corrective pattern since 2016. According to wave perspective, bigger degree wave Z of the third standard correction is ongoing which is forming a double correction pattern. As shown on 60 mins chart, the on-going wave c is forming an Ending diagonal. We can see that prices completed wave iv of wave (c) near 620 levels and wave v is ongoing which validates further fall over short term. Prices are moving in an expanding structure and have reversed from the upper trendline. The downward move should continue towards lower levels of 580 as long as 610 is intact on the downside.

In short, the outlook for Auropharma is bearish and a move towards 580 looks plausible as long as … is intact on the upside. 

The above analysis proves how well the Elliot wave to understand trend. It helps to trade different stocks along with index like Nifty, Bank Nifty etc. Get access to “The Financial Waves short term update” and see yourself what will be the next move.

Tuesday, May 22, 2018

DJIA: Breakout from Triangle Pattern, is it the start of next up move?

It is amazing to identify patterns, be it advanced Elliott waves or simple patterns. It helps to generate good returns. Below is the research which has helped our client to make good profits in few days based on Elliott wave pattern.

DJIA Daily chart :(As on 9th May 2018)

Following is a gist of the research published on 9th May 2018

Wave Analysis:

As shown on daily chart, 50 day EMA continues to provide good resistance area and prices are maintaining resistance near these levels; a decisive break above the same will drive prices higher towards 24800 as long as 23500 is intact on the downside. Currently, wave (f) is on-going of a diametric pattern. in terms of internal counts wave (f) is going through Triangle pattern, minor wave d completed on the upside around 24800 which will now act as important resistance levels; and Wave b (red) of e is ongoing an important resistance placed at 24500 levels. Post the completion of the same next leg on upside should start!

DJIA Daily chart: :( As on 22th May 2018)

Wave Analysis:

As shown on daily chart, post making a low in form of wave e prices witnessed an up move towards higher level giving a decisive break above b-d trendline which confirmed that wave (f) has completed on downside and next leg in form of wave (g) has started on upside. As of now wave a of (g) might have completed on the upside at 25000 price levels and we are currently seeing consolidation in the form of wave b. Post a break of this range bound action the upward movement should continue for DJIA and we expect prices to reach higher levels of …..

In short, trend for DJIA is positive and break above high at 24800 can drive prices higher towards …..

The above research shows that when you combine the various technical analyses it increases your probability of going with the trend. To know what the next move will be subscribe to our Global report under the name of “The Global Waves STU” which also consist of EURUSD, Comex Gold and Comex Silver.