Wave Strategy Home Forums Trader’s Forum Mentorship June 2020

This topic contains 53 replies, has 6 voices, and was last updated by Profile photo ofashishkyal Ashish Kyal, CMT 1 day, 1 hour ago.

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  • #217498 Reply

    Arun Wavdhane

    Dear Sir,

    Please find attached chart of Muthoot Finance Ltd of 60 minute for your kind perusal. Please confirm count is correct or not.

    Muthoot Finance Ltd 60 Minute Chart

     

  • #217614 Reply

    Vikram Singh
    Participant

    Icici

    • #217976 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Trendlines are not proper on ICICI Bank Vikram

  • #217757 Reply

    Mangesh Kamble
    Participant

    SBI LIFE Insurance – Daily and Hourly Trendlines

     

     

     

    Need advice if these are correct and any changes required?

    • #217977 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Amazing channels

  • #217656 Reply

    Dilipkumar Patil
    Participant

    ramco cement –hourly chart –wave 5 running expecting 725 ..61% projection of wave 1-3-4..also equality with wave 1

    ramco cement

    • #217986 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Good application of multiple trendlines and channels. Try to use different color so that you can distinguish well.

  • #217618 Reply

    Vikram Singh
    Participant

    Icici

  • #217975 Reply
    Profile photo ofashishkyal
    Ashish Kyal, CMT

    You cannot have such steep rise post a-b-c-x normally for Muthoot

  • #218023 Reply

    Ajit Sharma

    Bank Nifty Daily

    • #218024 Reply

      Ajit Sharma

      Bank nifty hourly

    • #218025 Reply

      Ajit Sharma

      Bank nifty looks in to complex correction WXY and now in to C of Y. On hourly it looks in to 3rd or 4th of C of Y. 3rd has achieved target of 1.6 times of 1st of C of Y.

      Please review.

  • #218036 Reply

    Vikram Singh
    Participant

    Deepak Nitrite

  • #218037 Reply

    Vikram Singh
    Participant

  • #217991 Reply

    Indrajit
    Participant

    Hi,

    Pls find enclosed with attempt to plot DJI.  Currently peculiarly poised and 25800-26500 seems to be a zone to watch out for.

    • #218131 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Yes very well

  • #217992 Reply

    Indrajit
    Participant

    Hi,

    My attempt to plot DJI. Looks like a zone to watch out for ~24200 to 26500.

  • #218004 Reply

    Indrajit
    Participant

    Hi,

    pls find enclosed with chart of SPCE. Possibility of break-out (momentum ? 🙂 ) towards $20.9

    • #218130 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Wait for stock to prove itself by giving a strong close

      • #218183 Reply

        Indrajit
        Participant

        Hi,

        Stock closed at $17.39, +15.93% during last trading session.

        Regards,

        Indrajit

  • #217997 Reply

    Indrajit
    Participant

    Hi,

    Pls find enclosed with my first attempt to plot WTI (Crude):
    Upward trajectory, Target $48
    Incase channel is broken ~ $38 then next support is $36 followed by $34.
    Breakbelow $31 mighnt move all the way to $10

    • #218119 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Channel is good on Crude but you cannot decide trade levels based on this

  • #218541 Reply

    Mangesh Kamble
    Participant

    LT Hourly chart

     

  • #218547 Reply

    Mangesh Kamble
    Participant

    Indusind Bank

    Daily

    Hourly

    Request for your comment…

  • #218548 Reply

    Mangesh Kamble
    Participant

    BajajFinance Hourly

     

  • #218549 Reply

    Mangesh Kamble
    Participant

    Banknifty Hourly chart

     

    • #218687 Reply
      Profile photo ofashishkyal
      Ashish Kyal, CMT

      Very good channels Mangesh

  • #218691 Reply

    Naveen Gupta

    RSI showing negative divergence for Nifty in Daily charts

  • #218985 Reply

    Vikram Singh
    Participant

    Maruti Divergence

  • #218986 Reply

    Vikram Singh
    Participant

    Dear Sir, My reading is that there a divergence in Price, RSI & ROC of Maruti. Aim I correct?

  • #220186 Reply

    Indrajit
    Participant

    Hi,

    SPCE stock:

    Bar Technique: Daily: Green candle in last 3 days, Weekly: Green candle but close below prior week high,
    Trendline: sideways movement hence unable to plot
    Bollingar band: prices moving within the band and currently close to resistance zone
    Ichimoku Cloud:
    Daily: Blue line crossed Red line; Blue, Red lines and prices within cloud, thinner cloud ahead
    1h: Blue line crossed Red line; Blue, Red lines and prices within cloud, thinner cloud ahead
    ROC (9): flat with slight upward bias, need to wait for confirmation
    RSI (14): flat
    EMA (9days considering it is closer to prices, support & resistance): prices above EMA

    Note: ROC & RSI values are system driven. Need to work on right values; Square chart also not showing visible trend

    Regards,

    IndrajitSPCE

    • #221766 Reply

      Indrajit
      Participant

      SPCE: 10th July 2020

      Potential price breakout on upside to $21.2 (resistance line of earlier double top) or higher considering prices moved higher on triangle resistance line. Need to work on new channel/trendline basis price moves in next few days. Super trend to be minutely observed for ‘sell’ signal. Please advise whether observation is correct.

      Daily chart:
      Bar Technique: Highe High, Higher low
      Bollinger Band: Expanding on upside
      Ichimoku cloud: Prices above cloud, Blue line crossed Red line but both are inside cloud
      EMA (9): prices following EMA support and resistance

       

      Regards,

      Indrajit

  • #220207 Reply

    Indrajit
    Participant

    Hi,

    Nasdaq ETF:

    My analysis is prices may move higher basis following. I need to work on entry and exit point. Support can be per enclosed chart lable

    Bar Technique:
    Daily: last 3 days Higher High, Higher Low
    Weekly: last week green candle but per data close was not higher than prior week high
    Monthly: last 3 months higher high, Higher Low

    Trendline: upward for daily , weekly & monthly chart

    Ichimoku Cloud:
    1 day: Blue line above Red line; Prices, Blue & red line above cloud; Green – lagging line upward & above cloud; Cloud: Green line is above red line hence positive
    30 mins: Blue line above Red line; Prices, Blue & red line above cloud; Green – lagging line upward & above cloud; Cloud: red line is above green line hence negative

    EMA (9): acting as a support & resistance over last few months hence may work well for this ETF. Currently price is above EMA 9

    Regards,

    Indrajit

  • #220252 Reply

    Ashish Kyal
    Keymaster

    Very well Indrajit, looks good start. Try on smaller time frames as well

  • #220318 Reply

    Vikram Singh
    Participant

    Surprised to see how powerful Bar Technique itself is by the below chart.

  • #220571 Reply

    Indrajit
    Participant

    Hi,

    Lupin: Sideways movement on daily chart and prices may come down near cloud, RSI divergence (leading indicator) is also indicating the same. Positional trader & investor can buy post Bar Technique & RSI confirmation, Cloud is thin (weekly chart) .

    Bar Technique: Daily, Weekly & Monthly: Red

    Trendline: Upward in daily, weekly charts although prices near support zone

    Ichimoku Cloud:
    Daily: Prices, Blue , red & green line above cloud, blue line on the verge of coming down below red line. Cloud is big meaning prices may come to mean/sideways
    Weekly: Prices, Blue , red & green line above cloud, blue line above red line. Thin cloud – strong trend

    Bollinger Band:
    Daily: Contracting and prices near support line/band
    Weekly: Expanding

    RSI (daily): Divergence. price may come down but a small upward trend which needs to be confirmed

    ROC (daily): no clear indication

    EMA (9): Prices below EMA

     

    Regards,

    Indrajit

  • #221080 Reply

    Indrajit
    Participant

    TQQQ: 07th July 2020
    Buy Price $95.01 as a positional trade on 30th June 2020

    Buy decision basis: Blue, red , lagging line & prices above cloud; Blue line above red line. Price/Channel in uptrend. Daily Bar Technique: Closing > previous day high.

    Current Observation:
    Continue with the trend & holding with trailing SL $107.
    Super trend gave a ‘up’ signal on 2nd July. I’ll be on watch-out and sell when super trend gives ‘sell’ signal / down arrow.

    Daily chart:
    Prices entering near resistance zone of channel & upper end of Bollinger band. Prices may come closer to cloud &/or Bollinger Band expansion. Blue, red, trailing line and prices continue to above thin cloud.
    RSI: showing uptrend but moving towards overbought zone
    ROC: showing uptrend

    Regards,

    Indrajit

    • #221313 Reply

      Ashish Kyal
      Keymaster

      Channels with Ichimoku and RSI ROC looks to be working so well

  • #221095 Reply

    Indrajit
    Participant

    Sun Pharma: 7th July 2020

    Daily Chart:
    Potentially Ascending Triangle formation and price may breakout above INR 506
    Ichimoku Cloud: Blue, Red , Lagging line above cloud. Green cloud becoming thinner in future reflecting strong trend.

    Regards,

    Indrajit

    • #221314 Reply

      Ashish Kyal
      Keymaster

      Triangle is very good but let us wait for the breakout to take place

  • #221582 Reply

    Rahul Hare

    Bank Nifty – Sir could you comment on this analysis please ?

    Wave A – 1R,2G,1R – 4 sessions – 5346

    Wave B – 4R- 4 sessions – 4319

    Wave C – 3G ,2R,2G,2R,2G,1R,3G,1R- 16 sessions- 4862

    Wave D -2R,1G,3R,1G,5R,1G,2R- 15 sessions- 4855

    Wave E – 1R,5G,2R,1G,1R- 10 sessions- 4702 ( 61% time , 97% price equality)

    Wave F- 1R,1G,1R,1G,2R- 6 sessions – 2300 ( 66% time equality with B ( 53% price))

    Wave G- 5G,1R,1G,1R,1G,1R,1G,3R,1G,1R – 16 sessions?? – 3573 ( 66% price of A , 4X time )

    So time or price equality of 61.8% ( +/- 4% has been followed by e,f,g)

    Or we are in Wave E – 33 sessions ( twice wave C ) Price 1.21 X : – 5889.. 

    Also on the upwards waves of A,C,E,G,  if i look at the absolute number of Green candles of each wave then A(50%) , C ( 62.5%), E(  60%) and G ( 56%),( we could see the  % green candles reducing from C to G . Also we can see a subtle change in the pulse of wave G with those 3 consecutive Red candles)..

    Within this diametric , the part of  Wave D-G looks like a converging traingle with each leg smaller and e being the smallest , so the entire of E should be retraced in less than 5 sessions what it took to form e ..

    Time cycle basis  , we had a turning point yesterday and we already saw a brilliant 500 pt move today bss yesterday low.

    So either we are finishing G or E , either way a correction is due and the upper trend line  has been well respected . Also RSI isnt showing any divergence for now , but ROC definitely is .

    Important is price confirmation – first sign closing below 22698 levels and then break of the lower trendline … Our first target would be 21700 and 2nd target of 21k .

    bn

  • #221764 Reply
    Profile photo ofashishkyal
    Ashish Kyal, CMT

    There is a possibility that post E there is an X and not F

  • #222703 Reply

    Indrajit
    Participant

    Tesla: 11th July 2020

    Observation (Daily chart):

     Stock is making new highs (4.5X Gain since March 2020 lows) post price breakout on upside after moving above trendline – channel resistance. New channel with significant upward trajectory.
     Bar Technique: Ichimoku Cloud: Blue line above Red line. Blue, Red, Green & prices above cloud
     Bollinger Band: Expanded on upside

    Is it too late to buy Tesla ?

    We need to wait for buy/ right price considering prices may try to come closer to cloud. Observe price movement in new trendline/channel in Hourly chart and decide.

    I have tried to plot weekly time cycle .. looks like 94 week cycle is working , next low around 3rd August 2020. Unable to plot hourly cycle in same chart

    Daily chart:

    Hourly chart:

    Weekly time Cycle:

     

    Regards,

    Indrajit

  • #222810 Reply

    Ajit Sharma

    15 Min – 7 days cycle

    15 Min 7 Days cycle

    • #222811 Reply

      Ajit Sharma

      15 min – 6 days 3 hours cycle – Pink color

      30 Min – 14 days 4 hours cycle – blue color

      60 Min – 29 days 2 hours cycle – black color

       

      @Ashish Please review

  • #223515 Reply
    Profile photo ofashishkyal
    Ashish Kyal, CMT

    Very nice Ajit. See how it has worked out so far

  • #229060 Reply

    Indrajit Belgundi

    Nasdaq: 7th August 2020

    Observations:

    Ongoing wave 5 of 5 of wave b. Wave 5 ~ 27 days completed. Looks like a rising wedge pattern.
    I need to work on finding level at which wave 5 will be over.
    RSI showing negative divergence (Prices: higher high, RSI: lower high)
    Trend is cautiously positive, will look for wave 5 of 5 faster replacement below wave 4 of 5

    2 stage confirmation will happen once 2-4 trendline and wave 4 level (9613 point) is broken in less than time taken for wave 5 completion.

     

  • #229220 Reply

    Ashutosh Singh

    NIFTY CONTEXT FOR MONDAY 10 AUG

    DAILY CONTEXT NIFTY SEEMS TO BE IN UPMOVE.

    CANNOT SEE THE IMPULSE WAVE IN NIFTY. IT’S NOT GETTING SATSIFIED FOR 3 RULES.

    THERE IS NO DIVERGENCE IN RSI

     

    THERE ARE 2 GAP UPS. Is there a chance of island reversal.

    Important pivot point is 10880.

    A BREAK BELOW 10880 WILL SHOW A DOWNTREND BUT IT’S NOT IN DOWNTREND NOW.

     

    IS THE THOUGH PROCESS CORRECT?

  • #229389 Reply

    Ashutosh Singh

    My thought process on hero motocorp daily chart.

    HereMotCo

    Monthly up
    Weekly down move
    Daily down move in pause ( inner candles)

    The rise has been great to 100% retracement.
    The prices have touched the high of 2861 and then returned back to channel support.
    So if a positive bar is shown then priace may go up.

    The 15 day EMA is broken which has provided support in the rally

    The problem is the prices have stayed in this zone of 2490 and 2860 for almost an year.
    So it will be difficult to break and it must be a decisive break

    My wavecounts could be wrong, not that much confident in that but as per those, we are in wave (iv) of Wave 3.

    So it can retract to 38.2 % of (iii) which comes to around 2440.

    On RSI there is a divergence. Prices went higher high and rsi went lower high. the impact of this is seen in last 7-8 days

    So in short wait for the channel and trendline to break. The pivot point is 2606 which is around 100 points down.
    Below that 100 points target is there for the zone.

    On the upside if the prices return from the channel support. The first target will be 2860 (less chance)

     

  • #229870 Reply
    Profile photo ofashishkyal
    Ashish Kyal, CMT

    Looks good, see how does it fit in bigger counts

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