HDIL Elliott Wave analyses was done on 14/15th May 15 when the price was 108 and today it reached 87 as predicted, the following commentary on 15th May was-
“Time is a critical factor in Elliott waves, the correction should always take atleast 38.2% of the 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.” Click here for Previous Report HDIL Elliott Wave- Price and Time Analysis 15 May 2015
Today, as of 3rd June 15, HDIL reached that 86 target zone! This 20% decline possibility was already predicted on many days prior to happening. Elliott wave provides a great perspective for when a trader must be in the market and when he must get out or when he should wait on the sideline for a better time to come, or to hunt for another stock with better possibilities.
This doesn’t means that the stock will not go lower, it can obviously go but as an Elliottician a trader can trade for the safe zone that has high probability and come out, focus on other stocks with higher probabilities. You will note in Tata steel, I was initially right with my analysis and still achieved the target and when I was expecting reversal, I got hints of contradiction and changed my view. Click her to view Tata steel Updates-
You, must note that without a time perspective Elliott Waves analysis become vulnerable to failure. A little known fact is that Robert Preachter use to combine Hurst Cycles with his Elliott waves to get the time perspective. RN Elliott and Hamilton Bolton, predicted markets for many decades in advance. You might Wonder when Elliott wave only gives price targets how can someone project the time. That is good query and that you were able to think on those lines. When this time analysis gets combined with Elliott Waves it gives amazing results such as this HDIL.
I would once again say that my purpose is educational, I dont want anyone to come blindly to learn Elliott Wave from me. I want to show how it works on real time basis and then only ask someone to come with me.
I have seen many and examined many other teachers who cherry pick a ideal chart that has already completed waves and then they show every label and Fibonacci ratio measurements in retrospect.
I want to show a perspective to Elliott wave that, If I can do it then you can also do it. Though it requires hard work compared to other technicals but its worth it. You will be surprised to know that I learned it 4-6 months, now it has been around a year. And before learning it, I gave up many times, but every time I gave up, I again got determined to learn it I knew that I was giving up coz I had been engaged in all easy technicals, candlesticks prior to learning Elliott Waves which had spoiled my habit to commit for a long term learning duration involved in learning Elliott Waves. Still, I consider my self a student and learn from my experience, analyse charts for hours, invent new tricks, which were not possible if I had not known Elliott Waves.