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Bitcoin: Revisited

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 Bitcoin hourly chart I have updated Bitcoin not long ago and I was into two minds that either it will bounce from $40000 levels or if broken will move towards $35000 levels. The level of $35000 is crucial as this level was tested before and from there it has made an all time high.  My view for Bitcoin is $75000 by this year as it bounce from current levels and reach towards it. This I had mentioned in my previous article as well. Here is the link of my previous article of bitcoin https://www.marketanalysiswithmeghmody.com/2022/01/bitcoin-elliott-wave-analysis.html It is imperative for prices to move above $40000 levels for the trend to change from negative to positive which will open doors for $75000. From Waves perspective, prices completed (w-x-y) pattern and will now move higher once the above mentioned level is crossed decisively The summation is BTC is all set to move higher towards the level of $75000.
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Power Finance Corporation: Elliott Wave Analysis

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 PFC hourly chart As shown in the above hourly chart, prices are moving in a lower highs and lower lows which indicates that the trend of the stock is negative and can dip going ahead. PFC is all set to break its previous low placed at 114 levels as it faced the resistance of the falling channel and all set dip next. From Waves perspective, prices have started to unfold wave c lower after completing wave a and wave b (counter trend). Wave c can move down till 105-104 levels over short term to medium term. The summation is, PFC is set to plunge till 105-104 levels from current levels over short to medium term.
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JPYINR: Completion of Triple Correction

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 JPYINR Spot daily chart From the above daily chart, JPYINR is all set to reverse after the support of the lower channel is tested. Also, there is a high possibility for prices to break the falling channel which will open positive possibilities and also change the trend from negative to positive. Wave theory suggests that, prices have completed triple correction pattern (a-b-c-x-a-b-c-x-a-b-c) and it is set to reverse. Over short term, prices are expected to test 66.8-67 levels, a move above this level will open further positive possibility. The summation is JPYINR is likely to move higher near to 66.8-67 levels over short term.
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USDINR: Inverse Head and Shoulder Pattern and Elliott Wave Analysis

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 USDINR hourly spot chart As shown in the above chart, the pair is moving in a sideways direction and can possibly reverse from current levels changing direction from negative to positive. To support the above statement, it is important to see that the pair has made a reversal pattern near cluster of supports (marked by arrows). The reversal pattern is on the brink to complete once the level of 74.7 is decisively crossed. The reversal pattern is inverse head and shoulder pattern. From Waves Perspective, prices are moving in an impulse fashion after completing corrective pattern (a-b-c). In the impulse wave it has completed wave i and it is currently moving in wave ii, once it is complete wave iii can soar prices close to 75.6-75.7 levels (spot). The summation is USDINR is firmly positive and can move near till 75.6-75.7 levels once the level of 74.7 is decisively crossed and sustained.
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DLF: Elliott Wave Analysis

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 DLF hourly chart From the above chart, prices are moving in a sideways direction, particularly in the range of 450-350 levels. Recently it faced the resistance of the range and it is falling which can lead prices towards the support of the range. As per wave theory, prices are moving in flat pattern, where the first fall was complex correction ended in wave a thereafter it went up to complete wave b (a-b-c) perfect corrective pattern. Now it is falling in an impulse fashion to complete wave c which can move down in a range of 360-350 levels. The summation is DLF is negatively poised and can falter towards 360-350 levels over short term.
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Ethereum: Elliott Wave and Neo Wave Diametric pattern

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 ETH/USD hourly chart As shown in the above chart, prices are moving in a lower highs and lower lows and it persists in the falling channel. However, the recent low is protected and prices are likely to move higher from current levels which can give bullish break in falling channel pattern. From Waves perspective, prices moved down in a Neo Wave diametric pattern, followed by three waves up to complete wave b and then wave c lower which completes one corrective pattern. After completing the corrective cycle there are high chances for this crypto to reverse. The summation is Ethereum is all set to reverse and can test the first resistance placed at $3900 over short to medium term.
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GBPINR: Triple Correction?

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 GBPINR Spot daily chart As shown in the above chart, prices are moving in a falling channel which gives an indication that the trend is down. Recently, cable has shown resilience from the support of the channel which can move back towards the resistance of the pattern. many analysts believe that the uptick in price is due to rise in inflation in UK but technically it was hinting ahead of time. From Waves perspective, prices are moving in a double correction which can now be turned into triple correction (a-b-c-x-a-b-c-x-a-b-c). Currently prices are in the second wave x and it is still forming which can move till 102-102.5 (spot). The summation is GBPINR is mildly positive and can fin resistance at 102-102.5 levels over short term.
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