Daily Archives: May 24, 2015


Tata Steel Elliott Wave Update 24 May 2015 1

This update on Tata Steel is in continuation to the previous 2 updates. I have analysed the multiple time charts with Elliott waves principle and tried to explain what to expect in future.

Hourly Chart: If this was C wave, and correction was to end with this (read previous post) , this volume spike which is even bigger than any of the the impulse waves should not have happened. The Volumes at ending c wave corrections become low and not increase like it happened here. Refer to next 2 higher time frame charts with this post.

TATASTEEL - Alternate 1 - May-24 2053 PM (2 hour)

Weekly Chart: The Large decline on a larger time frame tempted to assess what was happening here. The Upmove clearly shows 3 subdivisions. 3 waves up suggesting, that present downside may not be over. Which forces to analyse even a longer time frame chart.

TATASTEEL - Alternate 1 - May-24 2102 PM (1 week)

Monthly Chart: On Larger time frame I found Triangle in action. Its E wave on the down side is going on. This the picture much clear, on the larger time frame this is a 4th wave correction in form of triangle from 2007 to present and since its in the last phase of correction E wave it must start moving up. also C wave = 62% of A, and D wave = 62% of B. Ideally, E wave must be 62% of C which may bring it to 248 levels in coming 5 – 9 months. To me it seems a time to accumulate at every 20-25 Rs fall for long term investors. Again, its just my view. I felt to update this as a responsibility to bring the larger picture coz in earlier post it seemed a set up for going long is getting ready, it may or may not go up but coz of the risk and reward comparison, I will stay away from it as I am a swing trader.

“This is just a personal view and neither a recommendation nor a tip nor an advice for any trade”

TATASTEEL - Alternate 2 - May-24 2117 PM (1 month)


Tata Steel Elliott Waves Analysis Update 21 May 2015 1

Tata Steel Elliott Waves Analysis Update: After writing the review yesterday on Tata Steel, Wave C actually Started subdividing, it formed the Wave 1 of C with the upmove and now its opened gap down. It has clearly broken the first support level of 50% and reached 62%. Here the support is at 343-338 area (ideally prices should not god below this area), which is holding, yet we should ideally see the 5th wave on the downside (sometimes the C waves are only 3 waves), still since the 62% retracement is over and time wise we have reached 50% of the full Impulsive move.
If prices don’t retrace further then we will have 2 scenarios, both of them suggesting upmove:
As already said in the wave 2 the corrections are shorter in duration than wave 4 and structures are sharper than 4. This is general observation. Which means we should start seeing an upmove in the form of wave 3 once the correction ends.
Second, scene is that this completed abc (though 5th wave still may be remaining), is just the wave a of the entire correction, if that’s the case we may still go up as a wave B.
So, both cases suggesting the case of upmove. (we may be able to gauge the if its B wave or 3 wave with the strength of the move). I, must tell you that even though both cases may be suggesting the upmove, I don’t take my entry just based on this, I have a proper system from entering till exiting, which is very lengthy to explain here.

“This is just a personal view and neither a recommendation nor a tip nor an advice for any trade”

To learn Elliott waves, Fibonacci and Gann in detail please contact and message me in Inbox. My Email address is Ruchirgupta2000@gmail.com. Please like and follow my page and also share my post , made it for teaching Elliott wave and Gann.https://www.facebook.com/pages/Learn-Elliott-Waves-Gann/299034886964403 You can get many updates such as this on my page.TATASTEEL - Alternate 2 - May-21 1421 PM (2 hour)


Tata Steel- Elliott Waves Analysis 20 May 2015

TATASTEEL - Alternate 2 - May-20 1312 PM (2 hour)

Elliott Waves Analysis of Tata Steel: The upmove was a 9 wave in which 5th wave subdivided in sub waves. Wave 1 on the upside is complete and we in a wave 2 correction. A and B of the ABC are over while C is going on. Since A and B were subdivided in 3 waves each which suggests the formation of a flat (3-3-5). So, the C wave ideally be subdivided into 5 waves, though I have not seen any subdivision, which could mean C wave completion without any subdivision. First support, I see at 347 which is at 50% internal and 127% external retracement.
While the possibility of correction to reach 62% is still open, the correction in waves are majority steep decline and short term, so the complex correction though possibility is open, probability is low.
To learn Elliott waves, Fibonacci and Gann in detail please contact and message me in Inbox. My Email address is Ruchirgupta2000@gmail.com. Please like and follow my page and also share my post , made it for teaching Elliott wave and Gann.https://www.facebook.com/pages/Learn-Elliott-Waves-Gann/299034886964403 You can get many updates such as this on my page. “This is just a personal view and neither a recommendation nor a tip nor an advice for any trade”


Nifty Update Elliott Wave & Fibonacci: Immidiate Resistances 13 May 2015

Nifty Update Elliott Wave & Fibonacci: Immediate Resistances. This is just a personal view and neither a recommendation nor a tip nor an advice for any trade. To learn in detail please contact and message me in Inbox.

My Email address is Ruchirgupta2000@gmail.com. Please like and follow my page , made it for teaching Elliott wave and Gann.https://www.facebook.com/pages/Learn-Elliott-Waves-Gann/299034886964403 You can get many updates such as this on my page.NIFTY - Alternate 2 - May-13 1035 AM (10 min)

NIFTY - Alternate 2 - May-13 1109 AM (10 min)


How to revise your stop when your trade is in profits?

How to revise your stop when your trade is in profits?

Stop Revision System: How to revise your stop ? How to remain in a trend for long enough time? here is a trick. The Downward arrows are pointing towards bullish crossovers in the StochasticRSI. Whenever, there is a bullish crossover revise your stop to the swing low and keep revising it. till the stop doesn’t gets hit. To have better understanding read the related post – How and when to adjust the oscillators such as RSI or Stochastics with market momentum

 

Please like and follow my page and also share my post , made it for teaching Elliott wave and Gann. https://www.facebook.com/pages/Learn-Elliott-Waves-Gann/299034886964403 You can get many updates such as this on my page.

RELIANCE - Primary Analysis - May-15 1200 PM (30 min)

 

Related Posts:

How and When to adjust the Oscillators such as RSI or Stochastics with market momentum

Part2- How and When to adjust the Oscillators such as RSI or Stochastics with market momentum


HDIL Elliott Wave- Price and Time Analysis 15 May 2015

HDIL - Primary Analysis - May-15 2040 PM (1 day)

HDIL in its wave 2, Price and Time Analysis: Time is a critical factor in Elliott waves, the correction should always take atleast 38.2% time of the full 1-5 wave time. generally between 38- 62 % and knowing this fact we should not enter HDIL for there is more correction to be made. Price wise, you have seen 50% correction and still 38% time is to be met which will be met not before 8-10 trading days (visual interpretation). This opens the case of 62% retracement level which lies at 87. Wave C is going on. To learn how to project such levels in advance email me at Ruchirgupta2000@gmail.com. Also, like, follow, tag and share my page with your friends and co traders to get free updates.