Analytics

Dated: 14th March 2020

GOLD (COMEX) @ $1520

Gold had completed a very large Impulse Wave from $252 in 1999 to $1920 in 2011. It has logically been in a Corrective Wave since then, and has completed two sub-waves so far with the Third and last leg to go. The precious Metal can head to $900 in its final wave down. Time projections are between 2023-2025. Invalidation of the above wave count would happen on a cross above $1686. By Invalidation, the most likely case would be that the Corrective Structure could be changing its pattern, which we’ll have to understand and re-do the calculations. A less likely case could be that it reverses on direction and bias. Whichever way, we’ll come back to the Drawing Board.


Dated: 03rd March 2020

NIFTY @ 11,132

Expecting NIFTY to find supports somewhere in 10,950-800 zone in the shorter term. A bounce may happen thereafter but a move towards New Highs doesn’t seem to be happening anytime soon, as the larger structure seems broken. This shall be updated at a later point.


Dated: 23rd January 2020

USDINR @ 71.23

Presumably in its Wave C, can head up to 73.20-73.90 zone.
Doubts on New High.
Invalidation below Contracting Triangle’s Wave C Low. Red Trendline can be used for Trailing.

For how it moved after this chart was posted, check this link: https://in.tradingview.com/chart/USDINR/SDQXM69p-USDINR-A-retracement-back-to-73-20-73-90-zone/


Dated: 21st December 2019

POWER GRID CORPORATION @ 186

Dated: 13th November 2019

NSE FMCG INDEX @ 31,700 – Corrective Mode

FMCG Index seems to be getting into a Corrective and the Lower High has added credence to the possibility. The structure suggests a correction of ~15% to 26000 odd level. Time-wise: it should complete sometime in the first quarter of 2020. Invalidation above recent high of 32,645.


Dated: 12th November 2019

BSE Healthcare Index @ 13,126 – An Elliott Wave perspective

Starting point, as per BSE Data is ~1172 in 2003, which was missing from this website, hence that has been marked.

The BSE Healthcare Index (can be equated with NSE Pharma Index) is currently undergoing a Wave 4 corrective from its peak of 18,840 in August 2015.

While the Wave 4 is yet to get over, it’s expected to not break below 11,600-10,000 zone. Invalidation on a break below 8600.

Price projections for Wave 5 are conservative and in the range of 27,000-33,000, which means surpassing this zone is not ruled out. Time projections are more in the approximation side and begin 2024 onwards, but largely can be kept in the bracket of 2024-2027.


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