Elliott wave helps to understand the overall maturity of the trend and if the rise is sustainable or not.
Check out how we selected PILANIINVS as a Momentum stock and was able to capture a Short-term move of more than 27% within just two days of span!
PILANIINVS Daily chart Anticipated as on 19th October 2024 in our Weekly webinar
PILANIINVS Daily chart Happened as on 22nd October 2024
Stock is showing clear impulsive rise which can be seen in first chart. In our weekly webinar we mentioned about wave 2 completion and anticipated possible rise in form of wave 3. Also, 43 period Time cycle was due and we expected fresh rise after a dip.
The stock moved as expected which can be seen in above second chart. PILANIINVS surged by more than 27% in just two days and made a fresh record high near 8207 level.
When major indices were falling, we have been able to capture this entire rally with the help of Time cycle and Elliott wave.
In short, the advance tools like Elliott wave and Time cycle can work its magic when combined together along with price action! Especially, if you know how to apply it correctly.
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