Elliott Wave

Elliott wave and Gann analysis: Cairn India reversal

Mixing the Gann and Elliott Wave analysis could be truly rewarding. Here is an example, just posted on my facebook page- https://www.facebook.com/Learn-Elliott-Waves-Gann-299034886964403/


Cairn India

As Elliott Waves Cairn has completed 5th of the 5th on the downside. While , I posted about the reversal today around 11pm it was 4th wave where the stock was trading 129. Wave 1 and Wave 3 were clear impulse and hence 5th was coming. However, this 5th was to be on the small degree and after it the 3rd wave of a larger degree has to be followed. Since target mentioned could take more than a months time so the better strategy seemed to go long in cash. Also, wave 2 which will unfold in near future. The stop has been placed below the recent low of 121. Cairn India went to 134 after I posted my analysis.


CAIRN - Alternate 1 - Dec-21 1606 PM (6 hour)

CAIRN - Alternate 1 - Dec-21 1608 PM (1 hour)

EW & Gann Analysis: SBI could test 228 and then may be 220

As per Gann and Elliott Wave Analysis on SBI , it may first reach 228, first , based on AB= CD pattern. lower it can reach 220. 221 is also the previous swing low of sept fall. Lets see, what happens.

Also, in the smaller AB=CD, if the pattern is actually AB= Wave 1 or A, BC=Wave2 or B, then we may see a Impulsive 3 or C, in the form of CD.

The AB if you see has fallen in 5 waves , which on larger scale is wave 1 or A, and the upside of bigger BC= Wave 2 or B , then bigger C or 3 Could also unfold which could take it to below 200 levels. But I am not considering this case unless there is a close below 220 levels.

There is also a bigger AB = CD , that can take it below 200. However, right now expecting it to hold the 220 levels.

As per Gann Analysis, SBI will also be in downtrend till mid December. Also, the fall might have got triggered coz of Sun Saturn conjunction. Last time Sun Saturn Square in August brought the fall in the market.

SBIN - Alternate 2 - Dec-03 2128 PM (1 day)

Also Read :

EW & Gann Analysis: Reliance Power about to complete its 5th of 5th of 5th and merged with Gann Cycles