Piyush Chaudhry's Threads | Buzz Chronicles

$GOLD - Can move up to 2200+.
Invalid below 1660.
Momentum on a breakout of Orange Channel.

In such a case, H&S can be either a continuation pattern or compound fulcrum.
This is how to differentiate:
• if right shoulder is smaller than left, most likely a continuation H&S
• if right is same or higher than left, and the price is not coming to neckline, most likely CF

sir a doubt does head & shoulders work in down trend ? pic.twitter.com/dytYmbzOfp
— Vega_Greek (@VegaGreek) May 13, 2021

Piyush Chaudhry
@piyushchaudhry

Amazingly super positive correlation between Emerging Markets and Copper.

*MSCI Emerging Markets ETF #EEM
*Copper Futures #Comex

Piyush Chaudhry
@piyushchaudhry

When everyone got tired, Lever woke up!
New All Time High.
#HINDUNILVR

EW

Long Term Chart of the Month. #HINDUNILVR
Sometime in the next decade I see a fair possibility of stock reaching 7000 odd.
Invalidation below Blue Trendline. #ElliottWave pic.twitter.com/uxQrzt1mbj
— Piyush Chaudhry (@piyushchaudhry) December 9, 2020

as per relative strength

One question that I often get is which of the two: #HINDUNILVR or #ITC would be a better Investment bet. While their individual charts are clear themselves, another approach is ratio chart. IMHO Lever should outperform ITC for several years going forward.https://t.co/3AFqm6FJ1Q pic.twitter.com/rLuIm8xyVw
— Piyush Chaudhry (@piyushchaudhry) December 30, 2020

Piyush Chaudhry
@piyushchaudhry

Copper breaching the rising Trendline.
Weekly Candles, so we still need to wait.

Earlier two tweets on Copper:
1. Copper - EM:
https://t.co/WogWRMIMHH

and,
2. Copper - Gold
https://t.co/Cq2zcn4bi3

Amazingly super positive correlation between Emerging Markets and Copper.

*MSCI Emerging Markets ETF #EEM
*Copper Futures #Comex pic.twitter.com/rVAwfqvqD4
— Piyush Chaudhry (@piyushchaudhry) June 2, 2021

Piyush Chaudhry
@piyushchaudhry

EWI has given me the OK to share Mr Robert Prechter's April Elliott Wave Theorist, FREE. It gives his outlook for 3 Markets - Stocks, Commodities & Interest Rates. All 3 are following his projections. Visit this link https://t.co/fbNFWM5X5b & enter my special code: PIYUSH

Piyush Chaudhry
@piyushchaudhry

A C&H on INFY.
Once it crosses a horizontal previous High, it hasn't even retested the same level again. So far from 2020 Lows.
#Fractal

Piyush Chaudhry
@piyushchaudhry

From 2000 to 2008, HDFC outperformed HDFC Bank. The cycle turned thereafter in the favor of Bank. Looks like it may turn again.
*Housing Finance vs Banking*

Piyush Chaudhry
@piyushchaudhry

Evening Star on Copper Weekly. Though larger Trend stays intact, going forward, it would be better to stay on toes.

Piyush Chaudhry
@piyushchaudhry

In candlestick patterns, two aspects are of extreme importance:
• Prior Trend: Be it a continuation/ reversal formation, the establishment of prior trend is the first part - what exactly is the candlestick pattern going to continue or potentially reverse. Is that established?

• Internal proportion of the Candles of the pattern: A Hammer’s Body:Wick ratio or 3rd Candle in a Morning Star’s dig into the first one or Piercing’s % penetration into the precious one. These internal proportions lay the foundation of probability of success of the pattern.

Reading Reference: Candlestick Charting Explained - Gregory Morris.

Piyush Chaudhry
@piyushchaudhry

#GOLD INR anticipated path on Longer Term Charts

#ElliottWave

Piyush Chaudhry
@piyushchaudhry

Circumstantial factors causing #NIFTY's resistance:

• Reverse retracement at 1.618

• NIFTY in USD terms reverse retracement at 1.382

• NIFTY in GSec at previous Highs

Piyush Chaudhry
@piyushchaudhry

#HDFCBANK - More than a decade long Channel.

Piyush Chaudhry
@piyushchaudhry

For the first time in a year, #INFY is back to below the horizontal level after breakout.
+ Current status of IT Index.

Interpretation: This should be noted as the first negative for INFY & IT Index channeled move is an add-on. A corrective move could be on cards, but the form & magnitude of corrective can't be anticipated at the moment. Conservative opinion: IT could be taking a break.

Piyush Chaudhry
@piyushchaudhry

NIFTY / Crude Oil (MCX) at a crucial support level.
A case for either NIFTY to rise or Crude Oil to fall, or both simultaneously.

Piyush Chaudhry
@piyushchaudhry

Concept of Standard Deviation, simplified.

Next time when I talk about Mean +/- 1 or 2 or 3 Standard Deviation, you'll know what exactly am I talking about, especially whenever I mention Regression Channel. Concept is used in Bollinger Bands as well.
While all indicators plot, it's always good to know the background.

Piyush Chaudhry
@piyushchaudhry

as Indigo is inches away from New Highs ..

#INDIGO - a very rare form of a Triangle. Should head to New Highs. #ElliottWave pic.twitter.com/uJ6crEHSEN
— Piyush Chaudhry (@piyushchaudhry) November 16, 2020

Piyush Chaudhry
@piyushchaudhry

This is way faster than I had thought. At 3170.

#APOLLOHOSP @ 2110 - Long Term Chart.
I see a fair possibility of the stock rising to 3500-5000 zone over next few years and an open possibility of the next zone of 5000-7500 as well.
Invalidation on break below Blue TL. pic.twitter.com/QJ5aY4eTT8
— Piyush Chaudhry (@piyushchaudhry) November 12, 2020

Piyush Chaudhry
@piyushchaudhry

who said this? 😲

Piyush Chaudhry
@piyushchaudhry

NIFTY & US 10 Year Yield have a high degree of positive directional correlation. Anyhow, they are diverging at the moment though the divergence can go on for a long period of time as well, last time around this divergence did not work well for NIFTY & it got pulled down.

US10Y going down simply implies funds moving into Bonds and with EM's broadly down from Jan Highs this adds up as well.
That makes NIFTY an outlier, with the philosophical question being for how long can we persist?

This is one of the structural perspectives, however, it all rightfully boils down to the actual NIFTY's price action and that hasn't given any severe indication yet.
Though we must stay on guard.

SAnngeri Authors Piyush Chaudhry