Analytics

Based on Elliott Wave Principle

Dated: 09th September 2020

AXISBANK @ 431.25

A Bearish Impulse Structure. Target < 250. Invalidation above 534 (Wave 4 High). Trailing Stop above 2-4 Trendline. Time Target shaded as well.


Dated: 02nd August 2020

NIFTY SPOT @ 11,074

Zig Zag formation. Target 11735-12055. Invalidation below 10,635. 0-B Trendline may have a breach along the way.


Dated: 29th July 2020

COPPER (COMEX) | Symbol: HG1! @ 2.9060

Copper is entering its Third Wave (Wave C) of a larger Zig Zag, that can take it to 6.3865-8.7900 over a period of next 3-5 Years. The view would need a re-assessment on a break below 0-B Blue Trendline. Invalidation below B’s Low of 1.9725.


Dated: 12th July 2020

MRF @ 64,867

The stock is in a larger Impulse Wave Structure from 2001 lows of 360, with currently being in Wave 4 and Wave 5 yet to happen. This is an anticipated scenario on price and time, and modifications for Wave 5 Target will be needed after the actual price / time bottom of Wave 4.


Dated: 07th June 2020

AUROBINDO PHARMA @ 744

The stock is in Wave 5 of a larger Wave 3. It already has had a good run from the lows of 281 in March recently. While one can expect a cool-off for a bit, the eventual target for this rise would be 1400. Invalidation below the 2-4 Blue Trendline.


Dated: 24th May 2020

NSE PHARMA INDEX @ 9600

Short Term Outlook


Dated: 04th May 2020

USDINR @ 75.07

An Elliott Wave perspective

The sub-waves break up of larger Wave 5 is as below:

Currently, it’s in Wave B of a Larger Wave 4, where Wave C is about to begin and can take USDINR to sub-70 zone. Scenario invalidates above 78.60.


Dated: 14th March 2020

GOLD (COMEX)

Status: To be Updated


Dated: 03rd March 2020

NIFTY @ 11,132

Status: Completed

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

Status: Completed

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

Status: Open

Dated: 13th November 2019

NSE FMCG INDEX @ 31,700 – Corrective Mode

Status: Completed.

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

Status: Open

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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