LT - Elliott wave analysis - 5th wave up - need confirmationIt looks like 4th wave finished and now just started 5th wave up for new high. Wait for impulse up as 1st wave of 5th wave up in 5 min time frame to confirm the trend.
Nsestocks
HDFCLIFE - Elliott wave analysis - ABC zigzag down It is in choppy correction WXY. The drop was impulse A of Y and now it is in B wave which would bounce up to 710-720 level before it starts C wave down. B wave can take little more time to finish before it drop in C wave.
ICICIBank - Elliott wave analysis - ABC correctionIt has completed ABC zigzag move in uptrend. The drop was double zigzag wxy and it was over. So next move will be likely abc bounce if it able to hold the low of 569 then it may go up to 610-630.
HCLTech - Elliott wave analysis - ABC zigzag of Y downIt is in double zigzag correction as WXY. B of Y wave is in progress as corrective move and soon will finishes. Then C of Y wave will move down.
Cipla - Elliott wave analysis - ABC as (X) wave in progress It has completed impulse at last orthodox top and dropped in ABC zigzag down. So the next move would a choppy bounce of (X) wave in complex correction cycle. Wait for A wave bounce to confirm the start of (X) wave for reference. When (X) wave will finish, it start dropping down again in (Y) wave.
Reliance Ind - Elliott wave analysis - ABC zigzag down as (Y) It dropped in impulse A wave of (Y) wave down. The B wave is in progress and can go up to 2130 when nifty bounces. Once it finishes the B wave, it will start dropping down in C wave, which is the bearish trade set up.
Banknifty - Elliott wave analysis - Choppy bounce It has completed impulse cycle in 2 hr time frame and correcting the in sideways correction. Now it should go higher from current level along with Nifty.
Nifty50 - Elliott wave analysis - Bounce time It has two possible Elliott wave count at current level. (1) it has completed the impulse cycle started from Corona low and now correcting the whole move in sideways correction. OR (2) it is in 5th wave of 3rd extended wave and will keep going higher. In both the cases the common cycle is small bounce. So stay bullish until it holds the last low in 10 min time frame for target around 15100 or higher level.
ACC Limited seems to be Dicey a bit and may Fall Soon 20/02/2021as we can see the price has retested its ATH and it was trending in an ascending wedge, where at the Squeeze Section we are observing Bearish Divergence with MACD, which is the sign of trend reversal and probably some retracement of the same bullish trend.
this divergence can act as Hidden Bullish Divergence if the Price break it current Resistance zone in Red Box and its ATH, and the Bullish target can be 2080 easily.
the other scenario of Bearish trend reversal we can target the Support zones up to the Green box where i have mentioned the Heavy Support Zone, we can have 61.8% level as a good target in case of trend fall.
we can short it in any bullish pullback and ride it to the next Support area and trill our SL accordingly above the Support which turns to resistance.
we should have a good eye on NIFTY for better trend prediction on this ticker.
please comment your opinions...
BAJAJFINANCE - Elliott wave analysis - complex correctionIt is in WXY correction and ABC of Y wave is ON. Go short near 5530 with stop loss above 5670 for target around 5100 level.
ASIANPAINT - Elliott wave analysis - 5th wave It started 5th wave up after completing ABC zigzag 4th wave. Go long with stop loss below 2341 for minimum target above 2675 or a new high as 5th wave.
Nifty - Elliott wave analysis - ABC of Y wave correction B wave correction is on in ABC of Y wave sequence. The impulse cycle finished at last high and WXY complex correction is in progress. Sell near 15100 with stop loss above 15335. The target level is below 14300.
RELIANCE - Elliott wave analysis - WXY correction The complex correction WXY is in progress, where Y is about to start correcting as ABC. Wait for impulse drop, which will confirm the Y wave down. Then short the bounce for more down side up to 1680.
Plz give a like if you agree with EW count.
ICICIBank - Elliott wave analysis - corrective down It is in ABC zigzag correction down after completing ABC zigzag up sequence. C wave may be going to extend as further impulse. So corrective bounce of 2nd of C wave will be short sell set up.
Plz give a like if you agree with EW count.
Grasim - Elliott wave analysis - 4th wave correction It is in 4th wave correction and possibly it will be sharp correction ABC down. It may go up to 1100 level to correct the 4th wave, which is again a buy zone for final 5th wave up.
Plz give a like if you agree with EW count.
Eichermot - Elliott wave analysis - ABC zigzag up & double topIt is in corrective cycle after completing ABC zigzag cycle in 4 hr time frame. It correcting down as double top pattern and achieved the target zone. There is a chance of small bounc now.
Plz give a like if you agree with EW count.
Nifty - Elliott wave analysis - correction The correction ABC is under progress. Nifty is in C wave corrective cycle. It is possible to extend the correction down side.
Plz give a like if you agree with EW count.
Punjab National BankThe stock analysis was carried out on Feb 9 in response to a question asked on a social media platform and thereafter it has rallied. Read the reasons behind the pick below.
PNB shares appear to be the better option amongst PSU Banks.
Reasons supporting the pick:
1. Second largest PSU Bank in terms of market capitalisation.
2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e 538 cr. in Q1, 576 cr. in Q2 and 747 cr. in Q3. NII has been improved by over 80% on a YoY basis for Q3.
3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions
4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside.
5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up.
6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons.
The stock has a strong resistance zone at 40.55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80.
The first target for the stock would be 53+ and the second target would be 70+ in months to come.
Refer to the chart for levels.
Invest and forget, it might give some surprising returns.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
PNB - Punjab National BankResearch pick:
Reasons supporting the pick:
1. Second largest PSU Bank in terms of market capitalisation.
2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e ₹ 538 crores in Q1, ₹ 576 crores in Q2 and ₹ 747 crores in Q3. NII has been improved over 80% on a YoY basis for Q3.
3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions
4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside.
5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up.
6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons.
Talking about targets (Daily time frame):
The stock has a strong resistance zone at 40 .55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80.
The first target for the stock would be 53+ and the second target would be 70+ in months to come.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
HPCL - HINDPETRO HP NSE:HINDPETRO CL had been consolidating close to a year now. And by looking at the pace of recovery of the Indian economy and keeping the earnings season in mind, HPCL seems to be ready for an up move. Price levels are as below -
Buy - ~ 212 + ( stock respects the support level of 210 )
Target - 235+
SL - 208
Influencing factors -
1. Budget expectations
2. Earnings for 3rd quarter for FY 21
3. Increase in the demand of automobile and its ancillaries.
NOTE : These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as a stock advice or recommendation.
