Bank Nifty has a range-bound structure after the huge swing. If the market breaks the range, we can expect a rally continuation with minor consolidations. However, if the market faces rejection around the immediate resistance level, it may continue within the range further.
Good morning, friends! 🌺🍬 Here are the directions for May 17th: There have been no changes in the global and local markets. The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an...
BankNifty also has the same sentiment. The market may start with a gap-up. After that, if it breaks or consolidates around the immediate resistance zone, then it may continue the rally and could reach a minimum of the minor swing high to 48424. Alternatively, if the market rejects sharply around the immediate resistance zone, initially we can expect a 23 to 38%...
Good morning, friends! 🌺🍬 Here are the directions for May 16th: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +120 points. Nifty minorly retraced after the gap-up start in the...
BankNifty did not experience much of a pullback in the last session, so the previous day’s sentiment will likely continue today as well. If the market rejects around the 38% Fibonacci level, it could retrace a minimum of 38% to 61%. Conversely, if the pullback sustains or breaks the 38% Fibonacci level, the rally will likely continue.
Good morning, friends! 🌺🍬 Here are the directions for May 15th: There have been no changes in the global and our local markets. The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by...
BankNifty also has the same sentiment. The market may open with a gap-up, and if it rejects around 47,986 or the Fibonacci level of 38%, then it could retrace a minimum of 38% to 61%. On the other hand, if the pullback sustains or breaks the Fibonacci level of 38%, then the rally will likely continue.
Good morning, friends! 🌺🍬 Here are the directions for May 13th: The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +50. Nifty had a sharp...
It seems ITC has probably formed a base after consuming a good demand zone on 75 Mins TF and as per Dow Theory model, making higher lows and higher highs. As per my primary rationale of Elliott Wave analysis, it is forming a leading diagonal structure for Wave 1 on 75 Mins TF chart as shown hereby. We can confirm this once it consumes some demand at Wave 2...
I know we are all waiting for a bullish trend to take place in both indices. Me too equally :) As of now, let's quickly understand the wave-count and analysis as per the chart data we have. (Please note: The timeframe I have taken is of 75 Mins , which means the analysis may be fruitful for remainder of this week and not just for intraday) - The Wave counts are...
HSTECH has gone through a deep correction in last few years. My wave counts suggest that the bottom has been made and it's the beginning of the next leg up/ or at least a big enough pullback of the entire fall - in any case a good bullish trade. We have completed Wave 1 and 2 and Wave 3 has begun. Within wave 3, just minor 1 has been done and wave 2 correction...
>Banknifty also has the same consolidation structure, but wave counts are a little bit different from Nifty. So, if the initial market takes support around the immediate support level, then we can expect a minimum of a 23% pullback wave. If you want reversal confirmation, then you can use EMA 20 or a minor fib level 38% breakout. Alternatively, if the gap-down...
Good morning, friends! 🌺🍬 Here are the directions for May 13th: The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-down start, as suggested by GiftNifty, showing a decrease of -20. >Nifty had consolidated after the...
NSE:RELIANCE Wave 2 retraced 30% of Wave 1 Wave C achieved Equality to A Mostly Wave 2 Bottom in Place. Wave 3 Rally shall commence.
Elliott Wave is a such an amazing scientific method, if you apply them & be humble & open to what market tells you, you are going to be rewarded like catching all the waves. Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. ...
Copper seems to be breaking out of a continuing Triangle Pattern , Let's observe how it goes.
ShareIndia 61.8% fib level of wave 2 to 3 held as support. Looks like wave 3 to 4 is over. Still don't see positive divergence in weekly chart. Can expect final wave to rise and reach above target levels as per chart.
Bank Nifty has the same sentiment. Even though if it opens with a gap-up, it won't sustain. So, if the market declines initially, then we can expect correction continuation with minor pullbacks, which may reach a minimum of 47129 to the demand zone. The alternate variation is the same as with Nifty. If the gap-up sustains, it may reject around 23%. After that, if...