Bharat Forge Elliott Wave Analysis. As on 30 May 2020. CMP 327 The rally could extend further.  If it reaches above 379 (wave 1 low), that would call for a re-evaluation of this count, and this rally would then be counted as wave B. We are neutral.

Bharat Forge Elliott Wave Analysis. As on 6 May 2020 No change from previous post of 13 April.  Price has likely completed a wave 4 corrective rally. Quote Bottom line : Trend is down.  Bounces are counter-trend. Price has put in a larger degree wave 5 top at 799. Price has possibly completed a smaller […]

Bharat Forge Elliott Wave Analysis. As on 13 April 2020. CMP 244 Bottom line : Trend is down.  Bounces are counter-trend. Price has put in a larger degree wave 5 top at 799. Price has possibly completed a smaller wave 3 of an initial 5 wave down in wave A.

Bharat Forge Elliott Wave Analysis. As on 20 March 2020. CMP 301 The huge crash since our previous post has altered the wave count considerably.  The downside has further opened up to a large degree. Price is in wave 3 (or wave C down).  If wave 3 is 1.618 of wave 1, then price would […]

Bharat Forge Elliott Wave Analysis. As on 19 Feb 2020. CMP 479 Price is likely in a choppy double correction within wave B to the upside that should take price to the 600 ~ 700 level (to complete wave B).

Bharat Forge Elliott Wave Analysis. As on 29 Jan 2020. CMP 596 Bottom line : The larger decline is likely complete at 376, and price appears headed up to the 700 level.  Alternate count is in conflict. Primary count : Price has likely completed wave A of a large bullish triangle at 376 in Sept […]

Bharat Forge Elliott Wave Analysis. As on 11 Jan 2020. CMP 513 Bottom line : A rally above 548 is likely to bolster the probability that a lasting low is in place at 376.  Until that happens, there is a chance of new lows below 376. Primary count : Price is in a triple zigzag, […]

Bharat Forge Elliott Wave Analysis. As on 23 Dec 2019. CMP 500 Bottom line : Price has completed or almost completed the downtrend, as reflected in the 2 counts below. Primary count : Price is in a triple zigzag, which could still head towards nearer the 341 level.  That is also the area where wave […]

Bharat Forge Elliott Wave Analysis. As on 4 Dec 2019. CMP 446 Bottom line : Price has completed or almost completed the downtrend, as reflected in the 2 counts below. Primary count : Price is in a triple zigzag, which could still head towards nearer the 341 level.  That is also the area where wave […]

Bharat Forge Elliott Wave Analysis. As on 12 Nov 2019. CMP 436 Bottom line : Price has completed or almost completed the downtrend, as reflected in the 2 counts below. Primary count : Price is in a triple zigzag, which could still head towards nearer the 341 level.  That is also the area where wave […]