Free Analyses

Below are some free analyses for viewers.  Typically, these counts do not show a near term trade setup (We need to maintain profitability and exclusivity for our paying subscribers).  If we do post a trade setup, we restrict / redact it heavily.

Also check out our Blog – its free.


Graphite Elliott Wave Analysis

Graphite Elliott Wave Analysis. As on 10 Aug 2018. CMP 1122

Graphite appears to be nearing an end to the explosive 3rd wave.  May be time to take profits off the table on this one.

Another buy opportunity on Graphite may take many more months at substantially lower levels.

Graphite Elliott Wave Analysis

L&T Finance Holdings Elliott wave analysis (Put in Free Analysis section on 25 July 2018)

L&T Finance Holdings Elliott wave analysis. As on 16 July 2018. CMP 145

L&T Finance Holdings Elliott wave analysis

Thrust from bearish triangle lower almost at an end.

Price made a slight new low today at 143.50 ruling out a leading diagonal.

Setup is looking good at the moment.  Price has completed or almost completed wave C of 4 to the downside, and should start up soon.

1st Target : 175

2nd Target : above 213

L&T Finance Holdings Elliott wave analysis

5 waves down since thrust almost complete

Chart of 25 July 2018 :  Look at the rally !! The subscriber who brought this to our notice took the trade at 143. He’s obviously a pretty happy camper at the moment.

L&T FINANCE HOLDINGS ELLIOTT WAVE

Coal India Elliott Wave Analysis. As on 20 Aug 2018. CMP 289

The expected counter-trend rally in wave E of bearish triangle has materialized.Between current levels and 315, expect price to decline hard to under ** (restricted).Coal India Elliott Wave Analysis

Bitcoin USD Elliott Wave Analysis. As on 31 July 2018. CMP 8000.

Bitcoin Elliott wave

 

Our chart of Bitcoin has not changed for a long time.  What began as a hypothetical path has followed script to the letter.  Bitcoin is in a B wave bearish triangle which should resolve to the downside to US$ 3,500 – 4000.

We were bearish on Bitcoin in May & June, and turned bullish on 2 July when price was USD 6,300.  We said “Bitcoin USD presents an excellent buying opportunity at current levels for a target of 8500 – 9500, target to be reached in 4 – 10 weeks”.

Price reached 8,482 on 25 July – exactly 23 days after our call. A profit of 34%.  It appears a temporary high is in place at 8482.

And we have turned bearish again.

Expect a choppy to sideways wave D lower to below US$ 6,500, a small rally in wave E and then a thrust lower to below US$4000.

Below is a more detailed version of the same chart shown above with all the subwaves.

Bitcoin Elliott wave

——

JSW Energy Elliott Wave Analysis. As on 30 July 2018. CMP 65.

Price has too many options at this stage.  Price is in Wave C lower or Wave Y.

Long and Short of it is to stand aside till we have a clear bullish pattern.  It may be a few weeks or many months.  At this point, all we can do is track it and let you know when a bullish setup is near.  

For those interested in the wave patterns, continue reading.

Note these are 2 week charts, so short term counter-trend rallies, even to 80-85 are quite possible.

Option 1 : Ending Diagonal in Wave C. 

This option calls for decline to below 53 over many months.

JSW Energy Elliott Wave Analysis

 

 

Option 2 : Price in a Wave Y triangle. 

Price could begin a rally anywhere from 54-65 (current levels) in wave B of a Y triangle.  No evidence of a rally yet.

JSW Energy Elliott Wave Analysis

 

Option 3 : Price could unfold as a Flat Correction in Wave Y.

Price rallies from between 54-65 (current levels) to above 90 and down again to 55-60.

JSW Energy Elliott Wave Analysis

 

Conclusion : Each candlestick is 2 weeks.  So we need to be patient and see where price takes us.  Let price prove to us where it wants to go.  At that point an entry is called for to ride the trend.

——

Bajaj Auto Elliott Wave Analysis.  As on 25 July 2018. CMP 2678

This is a fascinating chart.  In our last post of 1 July here, when price was 2783, we said “larger trend has turned lower, but a short term bounce is possible to the 2950 – 3200 level in wave 2, but any bounce is likely to be counter-trend”.  

This chart from 1 July 2018 :

Bajaj Auto Elliott Wave analysis

1 July 2018

 

This chart from today 25 July 2018 :

Bajaj Auto Elliott Wave analysis

25 July 2018. Price reached wave 2 and now declining sharply in wave 3.

 

If this feels a bit like magic, it sometimes feels that way to us too – if there wasn’t written and visual evidence of such a call, we probably wouldn’t have believed it ourselves.  We don’t take pride in this call (well maybe a little), but we do recognize the power of the elliott wave principle.

—-

L&T Finance Holdings Elliott wave analysis (Put in Free Analysis section on 25 July 2018)

L&T Finance Holdings Elliott wave analysis. As on 16 July 2018. CMP 145

L&T Finance Holdings Elliott wave analysis

Thrust from bearish triangle lower almost at an end.

Price made a slight new low today at 143.50 ruling out a leading diagonal.

Setup is looking good at the moment.  Price has completed or almost completed wave C of 4 to the downside, and should start up soon.

1st Target : 175

2nd Target : above 213

L&T Finance Holdings Elliott wave analysis

5 waves down since thrust almost complete

Chart of 25 July 2018 :  Look at the rally !! The subscriber who brought this to our notice took the trade at 143. He’s obviously a pretty happy camper at the moment.

L&T FINANCE HOLDINGS ELLIOTT WAVE


Bitcoin USD Elliott Wave Analysis.  As on 23 July 2018. CMP 7697.

We were bearish on Bitcoin in our first post on 17 May right upto 2 July (on 2 July we turned solidly bullish). (17 may post here, 1 June post here, 11 June post here, and 2 July post here.

On 2 July we wrote  when price was USD 6,300 “Bitcoin Outlook for the next 4-10 weeks : Price is expected to turn upwards and should reach the 8500 – 9500 level.  This would be a good target for wave C of a bearish triangle. Conclusion : Bitcoin USD presents an excellent buying opportunity at current levels.”

Today, 23 July, price is more than halfway to our target in 3 weeks, and our forecast is well on track.

We still expect Bitcoin to find a final low at below US$ 4000.  But first it needs to reach 8500 – 9500 level.

Bitcoin is currently in a bearish triangle.

The beauty of this chart below is that we haven’t changed the broader path since our first posted chart on 17 May.

Bitcoin USD Elliott wave

23 July 2018. Up in Wave D to 8500 – 9500. Below 17 May chart.

Bitcoin USD elliott wave

Bitcoin likely to complete its correction near the 3,500 level.


Wipro : As on **.

Alternate Count : Possibility of Wave Y unfolding as a Triangle, which makes it bullish but not yet.  Until we have confirmation of this we will stand aside.

Wipro Elliott Wave Analysis

Possible Triangle Playing out in Wave Y. Too early to say.

 

 

Conclusion :

Stand Aside till either we have a bearish resolution as per Primary count, Or Price unfolds as per Alternate count path in Wave Y triangle.


Sun Pharma Elliott Wave Analysis.  As on 19 July 2018. CMP 550.

In our previous post of 20 June 2018, we outlined 3 possible wave counts.  Instead of getting clarity, we are now adding a 4th possibility in addition to the 3 previous counts that are still on the table.

What may help with some clarity is that 3 of the 4 wave counts are near term bearish.  While 1 count is “unclear to bullish”.

Sun Pharma Elliott Wave Analysis

Bearish Triangle. Awaiting thrust to downside.

Count 1  (new) : Thrust from a bearish triangle in wave B to new lows.  Target for end of decline is about 325. (Wave Y = Wave W at 325 and  Wave A of Y = Wave C of Y at 345). So we have a range of 325 – 345 as end of decline target for this wave count.

—-

Sun Pharma Elliott Wave Analysis

Flat or triangle in wave B, followed by a decline.

Count 2 : Possible test of 608 in the near term, before declining in wave C to below 433. Target for end of decline apprx 325 (Wave Y = Wave W)

—-

Sun Pharma Elliott Wave Analysis

Decline to Wave E in Y Triangle to about 480 – 490.

Count 3 : Price is only Near term bearish.  Target for end of decline is below 500 – apprx 480 -490 in wave Y Triangle, after which a long term bull run should begin.

—-

Sun Pharma Elliott Wave Analysis

Weakly bullish.. no clarity from waves in wave 1

Count 4 : Weakly bullish as the wave 1 up is not in a clear 5 waves.

Conclusion : 2 counts show price declining to the 325 level. 1 count shows price near term bearish to the 490 level. And 1 count is weakly bullish.

Stay on sidelines till we have clarity on which structure will play out.