BALMLAWRIE Bang On- Combining Rounding Bottom with ADX!

 When one combines basic price patterns and price indicators, it can lead to interesting results! See for yourself how we were able to capture such a significant move in BALMLAWRIE. Take a look at how we chose BALMLAWRIE, a momentum stock that has rallied by more than 16%.

We published about BALMLAWRIE in "The Financial Waves Short Term Update" on 08th May 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

BALMLAWRIE Daily chart Anticipated as on 08th May 2024

BALMLAWRIE Hourly chart Anticipated as on 08th May 2024

Wave Analysis as on 08th May 2024

BALMLAWRIE has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 3.91%.

On the daily chart, in the previous session prices formed a bullish candle. An daily close above 291 level will confirm breakout of the rounding bottom pattern. We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The Adx of this stock is 26.17 giving an indication of a trending market. The reading above 25 means strong directional strength.

As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 265.

In short, trend for this stock is positive. Use dips towards 276-278 as a buying opportunity for a move towards 300-305 levels as long as 265 holds on the downside

BALMLAWRIE Daily Happened Chart as on 22^nd May 2024

Happened: The stock moved as we anticipated. After a dip, prices showed a sharp rise and achieved our both targets and made a high of 316.80 on 21st May 2024 which is more than 16% from the dips in short span of time! 

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Multibagger stock: ZYDUSLIFE 100% move in just 9 months!

It is possible to capture a massive move in a shorter time frame with the help of the Time cycle and simple Elliott wave theory.

We had recommended to buy Zydus Lifesciences in our Multibagger stock report back in August 2023, when the stock was trading near 650 levels! Below is the detailed chart and analysis that the stock followed.

Zydus Life Weekly Chart (Log Scale) Anticipated as on 23^rd August 2023

Zydus Life Weekly chart Anticipated as on 23^rd August 2023

Wave Analysis Anticipated as on 23rd August 2023

Pharma sector continued to outperform since quite a few months now. We have identified one stock which is expected to give a breakout on a bigger time frame named as Zydus Life Science Ltd.

In the Weekly chart of Zydus Life, we can see that, stock is moving well within a multiyear channel. Stock has also formed a Rounding Bottom pattern and currently on the urge to give breakout. Usually this pattern occurs at the end of the downtrend. This time it is making an exception by forming on the top. However, breakout is still pending. For short term we expect some consolidation before breakout as it will give time for RSI to cool off. After which, fresh breakout is expected.

As per wave perspective, currently primary wave 5 is ongoing on the upside which is subdividing in nature. Recent fall was in form of intermediate wave ii which got completed near the 320 levels. The stock is following 89 Period cycle really well. As it has managed to capture almost all the important lows. The recent low formed near 320 levels was near our cycle and since then we witnessed a good rise which is in form of intermediate wave iii.

On the Weekly chart, in the recent rise base line(red) acted as a support to prices on a regular interval. For now, any dip towards the same i.e. towards 560 levels can be used as an added advantage to ride the trend.

In short, the trend for Zydus Lifescience Limited is positive for the conservative target of 1170 as long as 380 levels remains intact on the downside. Buying can be done in staggered fashion at CMP 650 and more on dips towards 560 levels in this stock.

Zydus Lifesciences Weekly chart Happened as on 21^st May 2024

Happened

In August 2023, we published about Zydus Lifesciences in our Multibagger report. At that time stock was trading close to 650 levels. After a dip, stock moved as expected and achieved our target of 1170 levels in today’s session and made a high of 1172.5 within less than 9 months, which is more than 100% from the dip levels. We have identified this stock using advance technical tools like Time cycle and Elliott wave theory!

Time Cycle and Elliott wave works brilliantly if one knows how to apply it correctly. So, using these two techniques one can capture massive moves in stocks for long term as well as for short term!

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Sutra of Waves - Learn the science of trading Options and stocks along with Elliott Wave, Neo Wave, Fibonacci Trading system, and Ichimoku cloud in the upcoming live event on 1st - 2nd June 2024. Also, get access to Online Options Trading strategy in the entire Trishul program. Know more

JINDALSTEL: Combining Diametric Pattern with Ichimoku cloud

 Elliot wave helps us to catch big moves well in advance and if we combine it with simple price action then it is possible to form powerful trade setups.

We published about Jindal Steel in our Financial Wave short-term update on 15^th May 2024 which our subscribers receive pre-market every day.

JINDALSTEL Daily Chart Anticipated as on 15th May 2024

Wave Analysis as on 15th May 2024

Jindal Steel showed a sharp rise and gained more than 4% in the previous session and made a fresh record high at 983.3. At the end of the day, the stock formed a big bullish candle.

On the daily chart, the stock is moving well within an upward-tilted channel. As per wave perspective, wave iii is unfolding on the upside which is subdividing. Wherein, the last leg of the diametric pattern is ongoing on the upside in form of wave g. Also, the base line(red) of the Ichimoku cloud has acted as brilliant support. A recent bounce came precisely from it!

In short, the trend for Jindal Steel is positive. Use dips as a buying opportunity with the targets of 1000 as long as 845 holds on the downside which is important support.

JINDALSTEL Daily Chart Happened as on 17th May 2024

Happened:

The wave counts have helped us to predict this move well in advance. We have been mentioning in our Equity report about the possibility of wave f completion on the downside and anticipated trend reversal in form of wave g. After we published the report on 15^th May 2024, the price kept moving higher and hit our target and recently made a high of 1027.5 which is more than 5% move in just 3 days of span!

Sutra of Waves - Learn the science of trading Options and stocks along with Elliott Wave, Neo Wave, Fibonacci Trading system, and Ichimoku cloud in the upcoming live event on 1st - 2nd June 2024. Also, get access to Online Options Trading strategy in the entire Trishul program. Know more

Gold with Elliott wave and 51 Day’s Time cycle- Is it Time to buy?

 Gold is following its own independent Elliott wave pattern and Time Cycle. In the below chart we have shown the Gold movement along with the Elliott wave and 51 Days’ Time cycle.

MCX Gold Weekly chart with Elliott wave

MCX Gold Daily chart with 51 Days Time cycleMCX Gold Elliott wave perspective on weekly chart: As per wave perspective, in the year 2021 primary wave 4(black) completed on the downside and since then the entire rise that we are witnessing is in form of primary wave 5(black). At the end of 2023 intermediate wave 4(blue) of primary wave 5 finished its course on the downside and the current rise is in form of wave 5(blue).

On the Daily chart, our cycle of 51 Days is working out really well which started from 23^rd April. We gave hints of possible correction or consolidation before fresh leg on the upside in our commodity reports and also expected that prices will form low exactly near our cycle.

The same has happened which can be seen on the above chart. Wherein, prices made low on our cycle at 70082. From the lows prices reversed on the upside and have already shown a rise of more than 4.5%. Now a breach above 73960 can turn Time cycle on the buy side.   

In a nutshell, trend for Gold looks bullish. A breach above 73960 can turn cycle on the positive which can result into good rally and can expect fresh record highs as long as cycle low remains protected on the downside! 

Subscribe to Commodity research report – Get access to The Financial Waves Commodity update and see yourself the ongoing wave patterns with complete research, levels on Gold, Silver, Copper, Aluminum, and more with trade opportunities – know more

 

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KECL Bang On- 2 Best Indicators You Cannot Miss!

 Sometimes simple price pattern along with price indictors creates wonder if one combines it together! See yourself how we identified such a massive move in KECL. Check out how we selected this momentum stock named as KECL which has rallied more than 11%.

We published about KECL in "The Financial Waves Short Term Update" on 10^th May 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.

KECL Daily chart anticipated as on 10^th May 2024

KECL Hourly chart anticipated as on 10^th May 2024Wave Analysis As on 10^th May 2024

KECL has been moving higher recently and intact in a strong uptrend. In the previous session, it closed with a massive gain of 6.10%.

On the daily chart, in the previous session prices formed a bullish candle. Recently prices have retested breakout of the rounding bottom pattern.  We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The Adx of this stock is 31.26 giving an indication of a trending market. A reading above 25 means strong directional strength.

As shown on the hourly chart, the price is trading above the Ichimoku cloud which indicate that the short-term bias is bullish. The closest support is placed at 160.

In short, trend for this stock is positive. Use dips towards 165-168 as a buying opportunity for a move towards 188-190 levels as long as 160 holds on the downside.

KECL Daily chart happened as on 14^th May 2024
Happened: The stock moved as we anticipated. After a dip, prices showed a sharp rise and achieved our target 1 and made a high of 189 on 13^th May 2024 which is almost near our target 2 which is more than 11% from the dips in just 2 trading sessions.  

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Tata Power: Bang on using Elliott wave and Bollinger Bands

 Elliott wave and Neo wave helped in catching a top in Tata Power in advance when no one expected it.

After bad quarterly results, stock crashed by more than 10% in just 4 sessions but if you check the trend was already matured and was expected to reverse on downside by applying Technical analysis methods along with Elliott wave in our Equity research report.

Tata Power Daily Chart Anticipated as on 8^th May 2024Wave analysis as on 8^th May 2024

In the previous session, Tata Power formed a big bearish candle and lost more than 2%. Stock gave a close below previous day’s low which keeps the tone on the negative side as long as we do not see a close above previous day’s high.

On the above chart, we can see that after reversing from the upper bands of the Bollinger Bands®. Prices have completed its journey towards the mid bands. Now a close below it is must for further selling to resume. Stock is currently trading at the channel support a close below it can accelerate further selling pressure. As per wave perspective, wave (v) looks to be completed on the upside. But for confirmation follow up selling is must. So, all the signs are suggesting weakness in this stock

In short, Tata Power looks bearish. A break below 430 can drag the price lower towards 415 as long as 445 holds on the upside. 

Tata Power Happened Daily Chart as on 13^th May 2024Happened: We can see in the first chart; the up move was matured and we anticipated a possibility of a correction on downside as the stock was probably completing wave (v) higher. Elliott wave is GPS of the market. It helps to understand the maturity of trend and if it’s time to sell. The second chart shows that after breaching below 430 levels, stock achieved out target of 415 and moved way lower by making a low of 396.5 which is more than 10% move from our mentioned levels within just 4 trading sessions!

In a nutshell, the above research clearly shows how by understanding Elliott wave and Neo wave one can forecast stocks that seem to be driven by news or events but the GPS of the stock gave a warning signal much earlier.

Sutra of Waves - Learn the science of trading Options and stocks along with Elliott Wave, Neo Wave, Fibonacci Trading system, and Ichimoku cloud in upcoming live event on 1st - 2nd June 2024. Also, get access to Online Options Trading strategy in the entire Trishul program. Know more

Nifty Target using Head & Shoulder pattern with Elliott wave! BANG ON!

 Nifty is moving precisely as per the technical analysis pattern of topping Head & Shoulder. When prices were near 22300, we forecasted targets of 21970 levels.

Combining this pattern along with Elliott wave and Neo wave provides strong forecasting ability.

The below chart of Nifty was shown on 10^th May 2024 when prices gave breakdown of the pattern which is picked up from the Daily equity research report.

Nifty hourly chart anticipated as on 8^th May 2024

Waves analysis: Anticipated as on 8^th May 2024

Nifty opened on a flat note for the second straight day, in previous session. During the day, prices showed sharp selloff. At the end Nifty ended lower with a loss of -0.62 at 22302 levels.

In the previous session, FMCG sector gave breakout of the consolidation. Along with this, IT also gained good momentum towards the end of the session. These two sectors were the only sectors which were amongst the top gainers, when Nifty fell more than 270 points during the day. Amongst the stocks, HUL surged more than 5%. Along with this, Tech Mahindra, Britannia and TCS were also amongst the top gainers in Nifty. On the other hand, Broader indices closed in red for the second consecutive day. PSU Bank, Auto, Pharma participated in the fall.

India VIX jumped to 17 and it is currently trading at crucial resistance a breach above 17.5 can result into further rise in VIX. This suggests fear amongst investors amid elections.

In the previous session, Nifty satisfied 3 candlestick rule conditions and gave a close below previous day’s low, low below previous day’s low and high below previous day’s high. This is suggesting that short term trend has changed to negative. On the daily chart, Nifty gave a close below mid band. Now with follow up selling we can expect a move towards lower bands which is near 22070 in coming sessions.

On the hourly chart, Nifty gave a breakdown of the topping Head & Shoulders Pattern. Target as per this comes near 21970 levels. As per wave perspective, after completing wave g on the upside fresh leg is unfolding on the downside.

In a nutshell, Nifty gave a close below previous day’s low. For now, a break below 22200 can accelerate further selling pressure which can drag the price lower towards 22100 followed by 22070 levels.

Nifty hourly chart Happened as on 10^th May 2024

Happened: Prices moved precisely as expected and made a low of 21932 levels which was achieved in the previous session which is a move of more than 400 points in just 2 trading sessions.

For now, trend remains sell on rise with the targets of 21880 or lower. While on the upside 21240 is the nearest resistance.

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SUPREMEIND – Massive Move by Combining Rounding Bottom with KST

 Sometimes simple price pattern along with price indictors creates wonder if one combines it together! See by yourself how we identified such a massive move in SUPREMEIND using KST (Know Sure Thing).

One can effectively capture significant movements in stocks. See how we chose SUPREMEIND, a stock that has increased by over 15% in short span of time, especially when market is choppy. 

We published the following research on SUPREMEIND pre-market on 30^th April 2024 in "The Financial Waves Short Term Update” which our subscribers receive pre-market every day.

SUPREMEIND Daily chart Anticipated as on 30th April 2024

SUPREMEIND Hourly chart Anticipated as on 30^th April 2024
Wave Analysis as on 30^th April 2024

SUPREMEIND has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 14.21%.

On the daily chart, in the previous session prices formed a bullish candle. Price has closed above 4750 level which confirm breakout of the rounding bottom pattern. KST has turned above signal line and also trading above the zero line which is a positive sign. We can expect good momentum to continue in this stock.

As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 4650.

In short, trend for this stock is positive. Use dips towards 4850-4900 as a buying opportunity for a move towards 5450-5500 levels as long as 4650 holds on the downside

SUPREMEIND Happened as on 9^th May 2024

Happened: The stock moved as we anticipated. SUPREMEIND have given breakout of Rounding Bottom with good volumes. After a dip, prices showed a sharp rise and achieved our target of 5500 and made high of 5538 on 7^th May 2024 which is more than 15% from the dips in just 5 trading sessions.  

Sutra of Waves - Learn the science of trading Options and stocks along with Elliott Wave, Neo Wave, Fibonacci Trading system, and Ichimoku cloud in upcoming live event on 1st - 2nd June 2024. Also, get access to Online Options Trading strategy in the entire Trishul program. Know more

Multibagger Stock: Godrej Properties up by 60% in just 6 months!!

 We published about Godrej Properties in November 2023 and predicted the possibility of Multibagger returns in coming 2-3 years. Check out the below research we had published on 24th November 2023 itself –

This stock has managed to hold its gain and gave more than 60% returns in 6 months of span and made a life time high of 2912 levels.

Godrej Properties Weekly Chart Anticipated as on 24^th November 2023 with 53 period Time Cycle

Multi bagger stock recommendation: Godrej Properties

Buy Price – Buy at CMP 1845 more on dips

Time Horizon –2 to 3 years

Investment – 5% of capital

Target price –??

Stop loss - ??

Anticipated as on 24^th November 2023 – Elliott Wave Theory:

As can be seen on the weekly chart, prices have moved from the lows of 159.15 towards the high of 2499 in a small period of 7 years. Post the formation of a high near 2499, the price corrected in the form of wave 4. Wave 4 got completed near channel support which was near 1000 levels. Price is currently moving upward in the form of wave 5         

Stock has been forming lows every 53 Weeks as per this cycle and we can clearly see that in above chart. According to this cycle, the stock has formed lows every 53 weeks, as shown in the chart above. The blue line represents the 53-week time cycle, and we can see a sharp bounce back on the upside when prices are near that level. Recent low was also captured by our cycle from where a sharp bounce on the upside was witnessed.

Godrej Properties Daily Chart Happened as on 8^th May 2024

Happened– The stock has been moving in sync with our expectations. After a minor dip, the stock has shown sharp rise on the upside which is overall 60% from the lows in just 6 months of span!!! It has touched its fresh record high near 2912 levels recently and currently it is quoting near 2770 levels. The overall up move has been strong and we expect prices to achieve its target of...levels in coming months.

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Nifty Power of Elliott - Neo wave with KST indicator

 Elliott wave and Neo wave is GPS of the market that helps to forecast the probable path prices can move.

KST indicator helps to understand the momentum.

Open interest profiles shows the area where big players are creating their positions.

Nifty hourly chart:

Elliott wave analysis – Nifty hourly chart shows the entire rise post completion of wave x at the lows of 21200 in the form of 7 legged corrective pattern. This is not an impulse rise as it does not follow the basic impulse rules. The entire rise is in Diametric pattern. Neo wave defines this pattern as corrective that consists of 7 legs and labelled as a-b-c-d-e-f-g. Post completing wave x looks like the entire rise is complete in the form of Diametric pattern and we can start seeing pressure on prices. However, along with forecast it is important to get 2 stage confirmation as per Neo wave as well.

2 stage confirmation technique – this is a powerful method that confirms if the top is formed and we have started seeing the reversal. In diametric pattern, we need to see faster retracement below the d-f trendline and 2^nd stage is obtained when the entire wave g is retraced faster. This will happen below 21800 levels. But for traders one has to pre-empt by looking at smaller time frame patterns to enter much early with good risk reward.

Now, breach below 22350 will form classic lower high lower low formation as per Dow theory and will indicate an early sign for wave g to be over for much lower levels to come.

This will remain valid unless we see move back above 22800 levels that formed double top formation as well.

KST indicator – This indicator shows slower momentum as there is negative divergence between prices and indicator. Also the KST line has moved below 0 suggesting a possible momentum can pick on downside if support levels break.

In a nutshell, Neo wave is suggesting Nifty is in matured stages of up move. We were able to capture the entire up move and now we are warning for impending top to form for few days or weeks and lower levels can be expected once the support near 22350 is broken as long as 22800 holds on upside.

Subscribe to daily equity research report – Get access to The Financial Waves short term update and see yourself the ongoing wave patterns with complete research, levels on Nifty, Bank Nifty, stocks with trade opportunities – know more

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Multibagger stock: Exide Industries 100% move in just 10 months!

 It is possible to capture a massive move in a shorter time frame with the help of Time cycle and simple Elliott wave theory.

We had recommended to buy Exide Industries in our Multibagger stock report back in June 2023 around 232 levels! Below shows a detailed chart and analysis that the stock followed.

Exide Industries Weekly Chart Anticipated as on 27^th June 2023     

Wave analysis Anticipated as on 27^th June 2023

Elliott Wave Analysis: In the weekly time frame as per wave perspective, the entire correction is in form of Primary wave [4] which was in form of Diametric pattern. This pattern helps to catch potential breakouts or reversals in particular direction. Primary wave [4] was completed near the lows of 132 levels in June 2022. Stock precisely reversed from there and since then primary wave [5] is moving on the upside. Stock has gained more than 80% within a year. Simple wave analysis works like magic!!!

We have plotted Supertrend Indicator on the weekly chart. In super trend buy and sell signals are generated when the indicator starts forming line either on top of the closing price or below the closing price. If the Supertrend moves below the closing price, the indicator turns green and shows a buy signal. In the above chart Supertrend continued to show green signal which indicates overall trend is positive. Along with this, we can see this indicator has provided support and resistance to prices from time to time. So, for now any dip towards the Supertrend i.e. towards 200 levels can be used as a buying opportunity. Also, prices have given a breakout of a classic Double Bottom pattern. All signs are suggesting that one can accumulate this stock at current levels.

On the other hand, KST has turned above signal line and also trading above signal line which suggest that further good momentum can continue to be seen.

Elliott wave with Time cycles is unique combination for applying advanced technical analysis concepts. On the above chart, lows are formed around the red vertical lines. The difference between the red vertical lines is 107 weeks. Every time around this zone price forms a low.

In short, one can accumulate this stock at current levels of 232 and add more on dips to 200 levels for the conservative target of 420 with 135 as important support.

Exide Industries Happened as on 2nd May 2024

Happened

We have published in our Multibagger Report on 27th June 2023 in which we have covered a stock named Exide Industries. At the time of the update the stock was trading around 232 levels. Recently stock has achieved our target of 420 and in today’s session stock made high of 485.55. Stock has shown movement of more than 100% just 10 months of span!

Time Cycle and Elliott wave works brilliantly if one knows how to apply it correctly. So, using Elliott Wave one can derive path ahead for intraday and positional on stocks and even on index as well.

Sutra of Waves - Learn the science of trading Options and stocks along with Elliott wave, Neo Wave, Fibonacci Trading system and Ichimoku cloud in upcoming live event on 1st - 2nd June 2024. Also get access to Online Options Trading strategy in entire Trishul program. Know more

Nifty Elliott Wave with Time Cycles - Is Top Near?

Trading using Elliott wave - Neo wave combining with Time cycle can provide strong technical analysis forecasting ability.

It is a simple powerful way to trade the market. Nifty is nearing the matured stages of up move and it is time to be alert!

See the below charts showing Neo wave with Time cycles

Nifty daily chart:

Nifty has moved higher and touched lifetime highs of 22783 on 30th April 2024. Earlier peak was made at 22775. There was strong reversal seen in less than 30 minutes when prices gave away all the gains and closed on negative note.

RSI divergence - We can see series of RSI divergence wherein prices are making higher highs but RSI made lower highs. This indicates that the up move is associated with slower momentum.

As per Neo wave, we can see that wave (e) is still equal to wave (c) (as per log scale) and due to the election event there has been another attempt near the highs of 22800 levels. This is going to be an level over near future. Move above 22800 might extend this wave (e) but we will still hold the view of topping phase in the market.

Time cycle 55 Days - Time cycle is suggesting that the trend is in matured stages as per cycle as it has already been 36 days since the last cycle low.

In a nutshell, looking at the advanced technical parameters it seems the overall trend is matured and Nifty is in topping phase. Next few days of price action will be crucial. Break above 22800 will extend the up move for few more days but we will eventually reverse down.