Elliott Wave Analysis of Nestle IndiaNestle India has been one of those steady performers in the long run. However, the long-term investor needs to take note of a potential diagonal triangle in the fifth wave position. As explained in my book Five waves to Financial Freedom, a diagonal triangle at the fifth wave is a powerful signal. Now you should be aware that we are still in the process of making this formation, or in other words, that formation is only in my head. If we do get the final ‘e’ wave in Nestle India, that will travel quite a distance, and the investor will have lots of time to figure out where to exit the stock. What we dont want to see now is a close below 4340. Will someone please remind me in a few months where Nestle India has been between now and then!
Dear Ramki, I would be pleased to remind you of the price of Nestle in about a month.
I would like to discuss the alternate count as follows:
Nestle has finished its 5th wave at 5024 and started its ABC correction from there.
Larger wave A might have finished at 4401.
Larger wave B is forming a contracting Triangle with internal waves a,b, c, d,e.
Int wave a ended at 4750, b at 4421, c at 4640, d at 4419 and e is ongoing which will end at approximately 4605-4625.
Larger wave C will then correct down.
Pl correct me if I am wrong.
Thanks and Regards.
Hi Dr Sanjay, all wave counts are work-in-progress, and no count is confirmed until the move is over. With that in mind, you should feel comfortable with your own count so long as no EWP rule is violated. Good luck.
(i) ka = kb
what is the significance ? What inferences can we draw from the given fact ?
(ii) Closing below 4340.
It kind of a confirms the ongoing formation of diagonal triangle.
If it does not happens so then recount b-c as 1-2-3 –
Am I right sir in my understanding
(iii)If it does not happens so then recount b-c as 1-2-3 – start of a new impulsive wave.
Hi Rainmaker, the significance of ka=bc (not ka=kb)is the outside chance that the whole 5 wave move is already over and we will get the close below 4340 directly. However, I give that a low probability.
Dear Ramki, I read your analysis of Elliot Wave Chart with great interest. Could you please do an Elliot Wave analysis for Australian market ASX200, code XJO. Thanks, Teresa
Hi Ramki Sir
i am following the price of Nestle and RCOM. just to inform you, Nestle has closed at 4370 which is very close to your level of 4340. shall certainly tell you if it slides below your level.
thanks and regards
though i dont like elliot wave analysis as its too vague a concept, i found your analysis worth reading. ur honest in ur approach unlike others. i admire u for that & i am proud 2b an indian.
but nestle is not in F&O, so even if it falls, its of no use till it reaches its bottom from where we can pick it up. so how this analysis will help us?
Rohit, thanks for the comments. Wavetimes is designed to teach elliott waves. Once you learn the methods, you can apply it to any instrument, not just Nestle stock. good luck
By Ramki
12 Comments
Dear
In your chart, your used a new mark “K” , what does it mean?
Hi Meyah, it means nothing special. I just randomly picked that letter to mark that low.
Dear Ramki, I would be pleased to remind you of the price of Nestle in about a month.
I would like to discuss the alternate count as follows:
Nestle has finished its 5th wave at 5024 and started its ABC correction from there.
Larger wave A might have finished at 4401.
Larger wave B is forming a contracting Triangle with internal waves a,b, c, d,e.
Int wave a ended at 4750, b at 4421, c at 4640, d at 4419 and e is ongoing which will end at approximately 4605-4625.
Larger wave C will then correct down.
Pl correct me if I am wrong.
Thanks and Regards.
Hi Dr Sanjay, all wave counts are work-in-progress, and no count is confirmed until the move is over. With that in mind, you should feel comfortable with your own count so long as no EWP rule is violated. Good luck.
Sir,
(i) ka = kb
what is the significance ? What inferences can we draw from the given fact ?
(ii) Closing below 4340.
It kind of a confirms the ongoing formation of diagonal triangle.
If it does not happens so then recount b-c as 1-2-3 –
Am I right sir in my understanding
(iii)If it does not happens so then recount b-c as 1-2-3 – start of a new impulsive wave.
Hi Rainmaker, the significance of ka=bc (not ka=kb)is the outside chance that the whole 5 wave move is already over and we will get the close below 4340 directly. However, I give that a low probability.
Dear Ramki, I read your analysis of Elliot Wave Chart with great interest. Could you please do an Elliot Wave analysis for Australian market ASX200, code XJO. Thanks, Teresa
Hi Ramki Sir
i am following the price of Nestle and RCOM. just to inform you, Nestle has closed at 4370 which is very close to your level of 4340. shall certainly tell you if it slides below your level.
thanks and regards
Parimal, Thank you. I am more interested ion RCOM around 44!
Hello Ramki Sir
certainly intimate you RCOM at 44
thanks, with kind regards
though i dont like elliot wave analysis as its too vague a concept, i found your analysis worth reading. ur honest in ur approach unlike others. i admire u for that & i am proud 2b an indian.
but nestle is not in F&O, so even if it falls, its of no use till it reaches its bottom from where we can pick it up. so how this analysis will help us?
Rohit, thanks for the comments. Wavetimes is designed to teach elliott waves. Once you learn the methods, you can apply it to any instrument, not just Nestle stock. good luck