SBI was projected on 25th May 2015 based on Just the Fibonacci technique (to learn and project such levels in advance, mail me email@example.com), the price that time was 280 and the projections were made to 2 zones in which the second zone was mentioned to be high probable. SBI traded around 249 on 16th June 2015.
Those who use Oscillators for trading may be with Candlesticks or any other technical (I use it with Elliott waves and Fibonacci levels for higher confidence) may like to know that Oscillator settings must be changed with the change in market trends. For example when markets are going for a sideways correction the Oscillator settings must be different versus when they are trending. Click here read part 2 of this analysis – http://ruchirgupta.co.in/part2-how-and-when-to-adjust-the-oscillators-such-as-rsi-or-stochastics-with-market-momentum/
Apart from Positive or Negative Divergence Oscillator settings could play a vital role in telling many other relevant facts to note which we may miss out other wise. Here are few of them.
1) The area in the rectangle, every Oversold and Overbought zone correspond to reversal, that is because market was following that rhythm. Everything seemed coherent. Majority of traders use oscillators in this way.
2) when the out of rectangle situation occurs, they either give all the gains in one single move trying to catch every top or bottom. In the circle every time bearish candles occurred a trader will try to short and get stopped out. While, this situation tells us that there is a change in the rhythm or momentum in market and now the oscillator settings are again to be changed. or better move to higher time frame to get better clarity or if the rhythm is coherent, trade in that time frame.
Now the check the oscillator settings in the second chart, I have readjusted with this new rhythm. It should do well now. Also read my earlier post on How To Revise Stop when already in Profit. Both the techniques of Oscillator adjustment and revising the profits support each other, as you will find in that article that adjust your Stop once there is a bullish or bearish reversal. Now Bullish or Bearish Reversal could be identified only when the oscillators are adjusted properly so that the action of Stop adjustment is taken on the right time, no sooner no later.
All of this is for the education purpose only.
HDIL Elliott Wave Analysis a broader review. What I updated on 15th May 15 was the correction to 5 waves that started on 14th Dec 14. HDIL achieved its target. Now, lets look at the even bigger picture and where we stand in it. Preferred view is that the full 5 waves trend that started on August 2013, is under correction. While, the alternative view is that 1,2,3,4 are complete what has been labeled as 5th is 1st of the 5th wave. Volume analysis very much clarifies these doubts, and they suggest the preferred count.
Preferred Elliott Wave Count Analysis
For now, I am analyzing HDIL based on our preferred count, will interfere with new counts if alternate count shows its symptoms.
TO read the full analysis click here- http://ruchirgupta.co.in/hdil-update-on-elliott-wave-analysis-a-broader-review-8th-june-2015/
HDIL Elliott Wave analyses was done on 14/15th May 15 when the price was 108 and today it reached 87 as predicted, the following commentary on 15th May was-
“Time is a critical factor in Elliott waves, the correction should always take atleast 38.2% of the time. generally between 38- 62 % and knowing this fact we should not enter HDIL for there is more correction to be made.
Price wise, you have seen 50% correction and still 38% time is to be met which will be met not before 8-10 trading days (visual interpretation). This opens the case of 62% retracement level which lies at 87. Wave C is going on.” Click here for Previous Report HDIL Elliott Wave- Price and Time Analysis 15 May 2015
Today, as of 3rd June 15, HDIL reached that 86 target zone! This 20% decline possibility was already predicted on many days prior to happening. Elliott wave provides a great perspective for when a trader must be in the market and when he must get out or when he should wait on the sideline for a better time to come, or to hunt for another stock with better possibilities. To read the full article click here- http://ruchirgupta.co.in/hdil-elliott-wave-analysis-achieved-its-target-today-3rd-june-15/
Elliott Wave and Fibonacci Analysis of Nifty- as Discussed in the earlier update on Nifty Elliott Wave and Fibonacci analysis,the abc on the downside till 8000 was a 3 wave abc subdivision (to read the Previous Report, click here). Which was making a case for a Flat or a Triangle, and suggesting the upmove till 8680 in 3 waves, the present upmove till 8490 which we have seen till now could only be the wave ‘a’ of the larger (B)wave on the upside. Now, it seems that wave A is over on the upside, wave B in 3 waves must unfold on the downside, which can get supports at 8240 and 8185 areas. After, which a final C wave must follow completing the (B) wave.
To read more click here – http://ruchirgupta.co.in/nifty-elliott-wave-and-fibonacci-analysis-25-may-2015/
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