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Nifty Mid_Select IndexHello & welcome to this analysis From July 2022 to Sep 2024 it appears to have completed an impulse 5 waves up structure forming a Primary Wave 1 From Sep 2024 to Apr 2025 is a corrective ABC wave that has done a 38 Fibonacci retracement. While it is too early to suggest whether that zigzag fall was a Primary Wave 2 or Wave A of B. The unfolding in the daily time frame suggest the probability of the former and start of a Primary Wave 3. A weekly close above 13250 would increase the conviction of an impulse wave for probable levels where it could make swing highs along its path at approx 14300, 15000, 18000 & 20000. Keep in mind where I have plotted Intermediate Wave 3 could also be an expanded Wave B. Therefore, keep an alternate count in hand till it gives more and more confirmation for bullishness. I am going with the probability of this being a bullish structure as of now All the best
NSE:NIFTY_MID_SELECTLong
by Dinesh_C_Nagpal
BANK NIFTYHello & welcome to this analysis The index is completing its pullback forming a falling trendline. It has good support between 54500-54000 while the trendline breakout would happen above 55500. The upside potential for this expected breakout is 57500-58000 One could either wait for the trend line breakout or buy this last leg of dip. Whenever Bank Nifty rallies it accelerates the Nifty trend also along with other sectors. Rarely does the index move in isolation. All the best
NSE:BANKNIFTYLong
by Dinesh_C_Nagpal
2
MAX FINANCIAL SERVICES LTDHello & welcome to this analysis The stock has entered the potential reversal zone (PRZ) in monthly time frame of double bearish harmonic patterns - ABCD & Deep Crab. The probable zone is between 1460 - 1500. Since this is a monthly time frame pattern a bearish derivative trade would be risky as it could firstly take a lot of time to reverse after distribution and secondly the stop loss for the trade would be very high since the range is big. This signal should be initially be taken as an alert not to attempt a fresh long at the current level and wait for some weekly to daily time frame weak signals to take a short trade if it reverses for 1300-1200. The pattern would become invalid above 1600. The acceleration for downside would happen once it starts sustaining below 1400 (as of now), this will keep changing week on week till the pattern is valid.
NSE:MFSLShort
by Dinesh_C_Nagpal
3
JIO FINANCIAL SERVICESHello & welcome to this analysis The decline from May 2024 till Mar 2025 appears to be an Elliott Wave corrective ABC that went on to make its all time lows breaking the previous one made in Oct 2023. The rally in Mar 2025 was a Leading Diagonal Impulse Wave 1 It was followed by Wave 2 - a corrective ABC which did a 88% retracement giving a double bottom in early April 2025. From there started the strongest & most reliable Elliott Wave - 3 that lasted the full month of April 2025. Since Wave 2 was deep the corrective Wave 4 did a zigzag and ended quickly mid May 2025. The terminal wave 5 of the larger Wave I is coming to an end around 275 - 280. This could lead to another round of corrective ABC which could be the larger Wave II in the making. Likely levels till where it could retrace its formation could be 255 at least, 240 probable & 205 hopefully maximum. Anything below Mar 2025 lows will make the Impulse wave rise as invalid. On the other hand, if the current wave continues to sustain beyond 285-290 then it could be unfolding a Wave 3 extension that could lead to much higher levels. Conclusion For buyers - wait for it to sustain above 285-290 to add, else wait for a dip to 255 - 240 and then review For sellers - between 275-280 wait for a bearish candle follow through keeping 285-290 as a stop loss. All the best
NSE:JIOFIN
by Dinesh_C_Nagpal
NIFTY ITHello & welcome to this analysis NIFTY IT (CNXIT) appears to have completed in Monthly from 2016 lows an impulse 5 waves up Weekly shows a running flat wave 4 followed by sub waves of the terminal 5th wave Daily indicates post the impulse an ABC corrective ended (ending) is this A of abc down after a monthly 5 up or is it wave 2 complete with this ABC? It is too early to say the latter. Normally the corrective tends to retest the start of the preceding sub wave 4 that is around 31000 but that is not mandatory as per Elliott Wave rules. An early indication of which wave is unfolding will depend on how the sub waves come out now, either they will be corrective, then it would be B of abc or they will be impulse then wave 2 has ended and index is into Wave 3. Interesting days ahead for IT index All the best
NSE:CNXIT
by Dinesh_C_Nagpal
2
CRUDE Hello & welcome to this analysis WTI OIL is at the PRZ of a bullish Harmonic Cypher pattern suggesting a bounce/reversal from current levels. Crude (MCX) however does not have any bullish harmonic patterns at the moment, normally, we do see them in sync, however, this time maybe due to a strong INR the pattern is not seen. One can take a trade tracking USOIL / WTI either above $57.85 (60m close) with swing low as stop loss or take a bullish trade here with $55.95 as stop loss. The targets are 38-50-62 Fibonacci levels as marked in the chart All the best
TVC:USOILLong
by Dinesh_C_Nagpal
USD INRHello & welcome to this analysis USDINR topped out on 10th Feb @ 88 to see a sharp reversal all the way till 4th April when it formed a bullish Harmonic Deep Crab pattern @ 85 that too lead to a more sharper bounce back till 9th April when it formed a bearish Harmonic Reciprocal ABCD pattern near the top end of the slanting channel. From there we have witnessed yet another steep downward move which is currently resting at the lower end of the slanting channel. Failure to hold 84.45 - 84.35 could lead to a further downward move till 83.70 where it would attempt to form a bullish Harmonic ABCD pattern that could coincide with DXY bullish harmonic pattern near 95. So if you have exposure to currency for any reasons whatsoever - overseas trips, college fees, business, commodities trading, etc - this might be of help to you. Disclaimer - Not a trading advise, kindly do your study carefully before taking a decision
Short
by Dinesh_C_Nagpal