Momentum Stock – SKF India Head & Shoulder with Elliott wave

elliott wave head & shoulder pattern skf Jun 24, 2024

Momentum stocks trading requires understanding of technical analysis patterns like Head & Shoulder. This combined along with Elliott wave can provide strong breakout opportunity.

Below stock of SKF India was discussed during the live Brahmastra (Mentorship) session when it was trading near 6300 levels for target of 7200 on upside.

SKF Hourly chart - Anticipated

SKF Hourly chart - Anticipated

SKF India hourly chart: Happened

SKF India momentum stock was identified during the live trading session of Brahmastra – Mentorship when the stock was trading near the levels of 6300.

The upside target using Head & Shoulder pattern along with Elliott wave was derived at 7200.

Elliott wave suggested that wave 4 was complete and the stock was ready to move up in form of wave iii of 5. Wave iii are most powerful legs that can cover maximum distance in minimal possible time.

Also the stock selection was done using Algo created during mentorship session.

The stock gave a breakout on upside as expected and rose by 12% after two days of the identification. It rose another 4% on next trading day thereby achieving the target of 7200 levels.

The above clearly suggest the process of stock identification using algo and then trading on basis of Elliott wave pattern.

In a nutshell, trading requires edge over others. Elliott wave and Time cycle provides the necessary edge required to trade with high accuracy, low risk high reward setup.

Brahmastra (Mentorship) on trading – Traders are not born and can be created. Learn the science of Trading using Elliott wave, Neo wave, Time cycles, Algo creation, Multibagger & Momentum stock identification and complete handholding over the period of 3 months with lifelong access to private telegram group. Early bird ends soon. Fill below form for more details: