Elliott Wave is a powerful forecasting tool and if one can identify Impulse 3rd wave it carries wonders for Traders.
In our Master of Elliott Waves (MOW) event on 8-9th May 2021, we discussed in detail and forecasted how the stock should behave as per Neo Wave Impulse pattern. Below is the chart that was forecasted:
MMTC is up by 12% today discussed during the sessions of Master of Waves Season 2 on 8-9th May, This is the power of #NeoWave with #TimeCycles
MMTC hourly chart as on 9th May 2021 – Anticipated
MMTC hourly chart Happened: UP 12%
Elliott Wave Analysis:
Nifty had a Gap down opening on 11th May 2021 and frontline stocks corrected sharply. However, action has continued in the Midcap and Smallcap space. During our event on Master of Waves we discussed in much detail how a stock can be forecasted which is showing Impulse behaviour. MMTC was one of the stock which was trading near 46 levels and was expected to move up in the form of wave 5 towards 52.50 – 53 levels. The stock rocketed today and touched the high of 55.55 up by more than 12% in just single day.
This only show why it is important to use this advanced tools of technical analysis for successful trading and how one can form trading strategy once an impulse pattern is identified. Many such stocks in the Smallcap and Midcap space are showing such impulsive behaviour.
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