JAINREC - Impulse or Not Impulse ?

Recently listed Stock Jain Resource Recycling Limited - CMP - 392.50

Comparing the Impulse Pattern in this stock based on Basic Elliott Wave Study and Gren Neely's Neo Wave Study. 

If you look at current move based on the study of Basic Elliott Wave then this upmove is perfect Impuse Pattern as it matched all the rules of Impulse

1. Wave is internal 5-3-5-3-5 structure

2. Wave 2 is corrects less than 61.8% of Wave 1

3. Wave 3 went beyond the wave 1

4. Wave 3 is not shortest wave amoung the Wave 1, wave 3 & wave 5

5. Wave 4 low didn't gone into the territory of wave 1

6. In addition, Wave 5 exhibits the ending diagonal structure.

So, As per Elliott wave Study, this is Perfect Impulse wave and correction is started further after wave 5.

But let me tell you that this is not Impulse Wave as per advanced Neo Wave Study. 

Why? 

Neo wave study is having many rules which confirms the existing wave is NOT an Impulse wave. 

It Support all the above rules but below few of the additional rules is not supporting

1. Rule of Extension - Not Supported - There is none of the extended wave anong the wave 1, 3 ,5. 

2. Rule of Touch Point Rule - Not Supported - There was none of the 4 touches the oppsing trendline amount the 6 touch point.

3. Rule of Two Stage Confirmation - Not Supported - 1st Stage or Even 2nd Stage reversal confirmation is not seen, reversal takes more time.

So this is not a Impulse Wave based on Neo Wave Theory. 

Why it needed to confirm the whether it is Impuse or not? 

 - It is because it will help to anticipate the next corrective move....

Neo wave will have concept of Post Pattern Implication which helps to anticipate the further move. 

Since it is not an Impulse then it is corrective structure on upside and we should lebel it in corrective formation which helps to catch the next move.

Post is shared for just Education and Learning Purpose. This is not Buy or Sell recommendation. 

Please comment if you have any query. Thanks!!!

Thanks and Regards,

Yogesh Tamkhade

Whatsapp - 9766113756

Join Our Whatapp Channel for such many learning contents-

https://whatsapp.com/channel/0029Va5X6hpKWEKk93ATFF3H

Federal Bank - Daily Chart - Price is in Wave 5 continuation - Classic Example of Implusive move of Elliott Wave Theory

 

Federal Bank - Daily Chart - Price is in Wave 5 continuation - Classic Example of Implusive move of Elliott Wave Theory

Torrent Pharma - Symmetrical Triangle formation on Daily Chart

Symmetrical Triangle Formation on Daily Chart and before breakout

Book pattern shows 5 Leg Symmetrical Triangle Pattern after Breakout.

Torrent Pharma Shows 7 Leg Symmetrical Triangle Pattern (Variation of Flag Pattern) before breakout.

7th leg will expected to breakout UP

It is tradable pattern with Strict Stop.

Stop Loss Can be placed lower range of Pattern which is near 2225 & Current Market Price is 2363

1st Pattern Target will be the higher range of pattern 2699 (2.5 RR)

2nd Target will be the Height of the Pole 3300 (7 RR)

Happy Investing 

Yogi

ALERT - Current Market Buying Shift to Defensive Sector and Safe Large cap Stocks

Hello,

While analyzing my momentum stocks universe, i observed that where was shift in momentum?

Till now momentum was highest to Chemical, Financial Sector & Mid cap & Small Cap Stocks.

But since 2-3 days, there was change observed in momentum. Hence feel that to alert to my blog viewer.

Since this is very early stage of shift found... we need to keep observed some more days to confirm.

17 Feb - Current Market trend can be analysed with this tables

07 Feb - Dashboard of Stock & Market Trend

* Defensive Sector (Healthcare, FMCG & Technology) are came to top list....and in this sector Large cap stocks took the lead

* Chemical Sector allocation is still on the lead but its participant stocks counts got reduced

* It clearly shows that Market buying is shifting from Volatile sector, Aggressive segment(small cap) to Defensive sector and Safe Category Large cap

* It is an indication of short  term trends might get changed towards negative, Hence, Suggested to Stay Light or shift to Large cap & Defensive sector to protect the capital


Also Technically, Nifty is already broken minor lower low levels of uptrend. if now Nifty unable to make new higher high then it would be the first lower high and further downfall will confirm the changed trend from uptrend to downtrend.

So requested everyone take a note of it and stay light and stay with safe defensive.

Happy Investing!!!

Thanks,
Yogi 

Gujrat Gas - 1st Target Achieved as shared in earlier Post

1st Target is nearly achieved yesterday 05 Dec 2019 in a few days.

Achieved 20% so far in within 40 days...

Power of Simple Technical Analysis.

Friends, You can refer my earlier post where probability of success is shown....
http://yogeshtamkhade.blogspot.com/2019/10/gujrat-gas-keep-in-watchlist-for-flag.html

Regards,
Yogi
NISM Certified Research Adviser

For Research based advisory services for portfolio...

Contact 9922446118 / 9923074822
Email - yogitamkhade@gmail.com

GUJRAT GAS - Keep in Watchlist for Flag Breakout

Date - 28 Oct 2019

Should be in the Watch List
Flat Pattern & Good Consolidation is ongoing..

Breakout of Consolidation will invoke an entry above 196 for Pattern target of 230 & 270 with stop of 165

Yogi

PRAJ IND - Follow up - 70 days low cycle works perfectly as per anticipated

70 Days low Time cycle works perfectly as show in the earlier post.
You can review it here http://yogeshtamkhade.blogspot.com/2019/09/praj-industry-70-days-time-cycle-low.html

13% captured on this move as per anticipated.

Current downmove is looks to be proper channelized and this correction is looks to be W-X-Y-X-Z as per Elliott wave study. The current move is in X2 wave and Z will expecting...

We are marking it X2 as this upside doesn't shows the characteristics of reversal and impulsive wave.

The chart also shows alternate corrective labeling of abcdefg a 7 wave correction.... in which g wave is expecting down side...

Since this Z or g wave will consider as last wave of any corrective or sideways correction. hence be alert to capture the next big wave on upside...