Market Analysis With Megh Mody

 MCX Copper hourly continuous chart After successfully anticipating the recent rise and the fall, I had two possibilities either impulse or corrective and so I had marked wave i/a and wave ii/b..,  prices will take support at 725-735 levels, this did not happen as it made a low of 717 levels thereby entering the territory of wave i which is now converted to wave a. So the entire rise will be wave a followed by wave b and wave c in simple zigzag pattern. The fall followed by wave c , is corrective in nature and so it is marked as wave x, the best part of this fall was it took support where prices earlier reversed several times (marked by arrows). After that a sideways movement is seen thereby forming an inverse Head and Shoulder pattern. The breakout of the pattern will be above 740 levels which ill complete the pattern along with the falling trend line which is acting as a resistance will be breached decisively, thereby opening positive possibilities. The red metal continues to soar as

 L&T daily chart anticipated on 18th July 2021 L&T daily chart happened on 13th August 2021 In my previous article on L&T, I had mentioned that, "P rices can achieve 1660-1665 levels but it is better to have a support intact for this stock, which is placed at 1450 levels. Break of this level will falter price till 1300 levels." Prices achieved the mentioned zone of 1660-1665 levels - Anticipated Happened Click on the link to check my previous article on LT https://www.marketanalysiswithmeghmody.com/2021/07/larsen-and-toubro-elliott-wave-analysis.html Elliott Wave has been applied and has delivered beautiful results over and over the time. Combining Elliott Wave with basic technical tools is the secret sauce to get these amazing results.

 Nifty Bank hourly chart anticipated on 9th July 2021 Nifty Bank hourly chart happened on 29th July 2021 In my previous update dated on 9th July 2021, I had mentioned for Nifty Bank, " Nifty Bank is negatively poised for short term and can test 34000 in couple of trading sessions. " First of all it did not reach the level of 34000 but made a low of 34129 on 29th July 2021. Also it did not falter in couple of sessions as wave B took more time to form than anticipated. The best part is it did fall near to my mentioned level by forming a flat pattern - Anticipated  Happened Here is the link of my previous article on Nifty Bank, click on it  https://www.marketanalysiswithmeghmody.com/2021/07/nifty-bank-elliott-wave-analysis.html Currently prices are moving in a impulsive fahion, which means it is moving in (i-ii-iii-iv-v) waves. As of now it has completed wave iv and has stated wave v which can reach till 36350-36400 levels over short term. The CMP is at 36100  The summation is N

 Doge Coin hourly chart From the above chart, Doge coin is moving in a sideways to negative direction except from past 2 trading days. The crypto is forming double bottom formation and also a rounding bottom pattern both are bullish reversal patterns.  For bullish possibilities to open it is imperative for prices to breach the level of $0.30 level, this will surge price towards its next resistance placed at $0.45 level. At present, prices are placed at $0.26 more 4 cents will open the door towards $0.45. The summation is, further positive possibilities will only open once price move above $0.30, which will soar price till $0.45 levels.

 Bitcoin daily chart anticipated on 11th July 2021 Bitcoin daily chart happened on 8th August 2021 In my previous update I had mentioned for Bitcoin, " P rices can test the level of $30000 over short term followed by $44500-$44700 levels over medium term." I was anticipating the fall for Bitcoin near till $30000 and then a rise near to the immediate resistance placed at $44500-$44700, both the fall and the rise is been captured- Anticipated Happened Here is the link of the previous article which I had written on  Bitcoin, click on it https://www.marketanalysiswithmeghmody.com/2021/07/bitcoin-elliott-wave-and-neo-wave.html As per Neo Wave prices completed the diametric pattern where it fell below $30000 and then came up in an impulsive fashion to start fresh leg higher. Sustainable move above $44500-$44700 will soar prices towards its next resistance area of $51000 followed by $59500 levels. The summation is Bitcoin needs to sustain above $44500 so that it can achieve the leve

 MCX Nat Gas daily continuous chart anticipated on 6th June  2021 MCX Nat Gas daily continuous chart happened on 26th July 2021 In my previous article on Nat Gas, I had mentioned that, " P rices can test 200 levels over short term which can drag prices lower, buying opportunity can be expected at these levels which can soar prices towards  300 to 315 levels over medium term." I initially thought that prices are moving in a triangle pattern and so wave e of the triangle can test 200 levels which I was wrong in the short term. However, I was correct in anticipating the medium term as it can test 300-315 levels which is achieved- Anticipated Happened Here is the link of my previous article on NAT GAS https://www.marketanalysiswithmeghmody.com/2021/06/mcx-nat-gas-reversal-pattern-and.html Prices have completed wave b in a flat pattern and following that an impulse structure can be seen which is undoubtedly wave c. Now a correction either in the form of wave x or a deeper correcti

 EURINR daily continuous chart anticipated on 5th July 2021 EURINR daily continuous chart happened on 19th July 2021 In my previous update dated 5th July 2021, I had mentioned that, "  EURINR is hovering near resistance and can sink near to 87.6-87.5 levels over short term." EURINR made a low of 87.33 on 19th July 2021, thereby achieving my mentioned level of 87.6-87.5 levels- Anticipated Happened The chart shown on 5th July or 19th July or when the article is written depicts Neo Wave diametric pattern, a seven leg pattern which has lot of variations. You can see the previous article of EURINR by clicking on the link https://www.marketanalysiswithmeghmody.com/2021/07/eurinr-neo-wave-diametric-pattern.html After completing diametric pattern there are high chances for the pair to bounce or can change the trend from negative to positive. This can be the end of wave ii or wave a of wave ii, once completed wave iii on the upside will start.