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By tradinglounge · Posted
BAJAJ AUTO – BAJAJAUTO (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective structure. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete around 9080 levels. If correct expect a counter trend rally to materialize soon to terminate Minor Wave 2 Grey. Invalidation point: 12900 BAJAJ AUTO Daily Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ AUTO daily chart is indicating a potential high in place around 12900 mark terminating Intermediate Wave (5) Orange. Furthermore, prices have turned lower and carved an impulse wave reaching almost 9000 mark at the time of writing. If the above is correct, the stock should produce a corrective rally against recent lows and reach through the 11000 mark in the next few trading sessions. Earlier, the stock had dropped through 3000-100 range around December 2021. Since then, a five wave rally could be clearly seen as Minor Waves 1 through 5, reaching the 12900 mark. Bears have remained in control since then, dragging prices through 9000 levels. Expect a counter trend rally to materialize soon. BAJAJ AUTO – BAJAJAUTO (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective structure. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete around 9080 levels. If correct expect a counter trend rally to materialize soon to terminate Minor Wave 2 Grey. Invalidation point: 12900 BAJAJ AUTO 4H Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ AUTO 4H chart is highlighting the sub waves from Minor Wave 3 Grey, which terminated around 10100-200 zone in June 2024. Minor Wave 5 rallied through 12900 mark sub dividing into five waves. Furthermore, the drop from all-time highs has now reached 9000 levels at the time of writing. It is pretty close to taking out previous Wave 4 of one lesser degree around 8770 mark. The initial drop between 12900 and 9000 levels is an impulse. If correct, a rally should soon resume from here to carve Minor Wave 2 Grey. Conclusion: BAJAJ AUTO has terminated Minor Wave 1 close to 9000 levels or is near to completion. Bulls should be preparing to come back in control to carve Minor Wave 2 Grey. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
The cryptocurrency market is experiencing dynamic shifts, with Web3 innovations impacting sectors like GameFi, DAOs, and Real-World Assets (RWA). Despite a 1.09% decrease in global market capitalization, Bitcoin maintains a 55% dominance. Notably, Ripple's XRP has surpassed Solana in market cap and is approaching Tether, potentially positioning itself just behind Ethereum. XRP's growth has been hindered by the SEC's lawsuit, which accused Ripple of conducting an unregistered securities offering. However, a recent court ruling determined that XRP is not a security, marking a significant victory for Ripple and the broader crypto industry. The political landscape also plays a crucial role. Under the leadership of Chair Gary Gensler, the SEC aggressively pursued litigation against major crypto exchanges. However, with the re-election of Donald Trump, there's an expectation of a more lenient approach towards crypto firms, potentially pausing ongoing lawsuits and negotiating favorable settlements. Given these developments, XRP is well-positioned to influence the future of finance, especially with anticipated changes in U.S. government policies favoring the digital asset industry. -
By tradinglounge · Posted
JPM Elliott Wave Analysis Trading Lounge JP Morgan & Chase Co., (JPM) Daily Chart JPM Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 5. DIRECTION: Upside in 3 of (5). DETAILS: Looking for upside into wave 5. The conservative view suggests we could have a top in place in wave 5 at 250$. It’s possible we will see an extension in wave {v} towards TradingLEvel3 at 300$. JP Morgan & Chase Co., (JPM) 1H Chart JPM Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (ii) of {v}. DIRECTION: Upside into wave (iii). DETAILS: Looking for completion in wave (ii) with another leg lower to then resume higher towards wave (iii) of {v}. This Elliott Wave analysis for JP Morgan & Chase Co., (JPM) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements. * JPM Elliott Wave Technical Analysis – Daily Chart* JPM is in the process of advancing within wave 5 of (5). While there is a possibility that wave 5 could have already topped near $250, a more bullish scenario suggests an extension of wave {v}. If this happens, the price could rally toward TradingLevel3 at $300. The longer-term view supports continued upside, but caution is warranted around the $250 level. * JPM Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, JPM is completing wave (ii) of {v} and is expected to make another leg lower to finish this corrective move. Once wave (ii) completes, the stock is anticipated to resume higher, entering wave (iii) of {v}, targeting a move above $250 in line with the longer-term outlook. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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