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Nifty Trade Setup for 13 JUL 2022Nifty Trade Setup for 13 JUL 2022
Nifty is bearishly aligned for the day and at this point of time is expected to open with a gap up around Bearish Reversal Zone.
Any rejection trigger from Bearish Reversal & compromise of CPR we can expect Nifty to test the Bullish reversal zone & S1 & may be lower targets as marked.
Any Rejection from R1 on opening we can again expecting to CPR & then lower targets.
R1 is a strong resistance for Nifty and a break out above that we expect yesterday's Virgin CPR levels to be tested out.
will Nifty Bullish from here..?Nifty next Level :
Resistance - 16170 -16200 -16325
Support - 16000 -15930
Nifty seems Bullish for Next week but need to wait and watch Friday & Monday session.
i am assuming flat opening for tomorrow then will see Reversal from Resistance area which is 16170-16200 towards 16000 level.
Big Fall in CrudeOilThe markets are falling down because of increased fear of recession. Recession affects everything, be it stocks or commodities like CRUDEOIL, NATURALGAS, SILVER, GOLD etc.
Energy sector fell drastically yesterday. Crude Oil fell about 11% whereas Natural Gas fell about 6%.
Crude Oil has a strong supply zone around 9300 according to the monthly timeframe from where it fell down.
In last month it tried to break the supply zone but it failed. It is clearly visible on weekly timeframe that it couldn't break the supply zone.
On the Daily timeframe we can see the formation of Head and Shoulder pattern from which it has broken down the neckline yesterday. Right shoulder was made from the strong resistance at 8850 from where it got rejected twice.
It is also forming a downward moving channel.
On 4 hour timeframe it has broken down the support with good amount of volume.
Today it is moving in lower part of the channel and I think the closing of the candle will be below 8100.
The MACD and RSI have turned bearish on multiple time frames. If the price of USOIL sustains below $100, we can see further down move in the coming weeks or months.
Disclaimer: This post is meant for learning purposes only. Invest your capital at your own risk.
MCX Gold Elliott Wave Projection For July 2022Gold has accomplished the final correction wave (Y) of wave ((B)) and has begun to form sub-waves of the corrective wave ((C)).
Currently, the price is at 100 EMA & the lower band of the parallel channel. It appears that the movement of gold is being dominated by bears, as it is making lower lows and lower highs.
If the price breaks down the parallel channel, traders can initiate a short position for the following targets: 50153 – 49600 – 48560 . It should be noted that the breakdown of the parallel channel is also the breakdown of the 100 EMA.
49600 is a pivot zone for gold. If the price sustains below 49600 , traders can expect rapid bearish momentum.
Nifty - A holistic view for the coming weeksHi all, it's been a long time since I posted an analysis on Nifty. If you haven't checked out my last idea, be sure to check it out to get a better understanding of how the price moved in the last one month.
Let's see how the price is moving now and what all we should look at!
- The price gave a clear down move from 16800 to 15200 level, without any significant pullbacks. This indicates a strong selling pressure and a clear sell side imbalance.
- The HTF structure is still bearish as evident from the market structure. The price is forming lower highs and lower lows.
- There are a lot of supply zones, swing levels, and unfilled gaps on the upside that should act as resistance.
- If we see the swing from 16800-15200, the price is trading at a discount. The HTF sellers will try to sell any rally in the Premium zone.
- The HTF remains bearish until and unless the prices closes and sustains above 16800.
- On LTF, the price has tested the supply at 15600-15700 and it seems like the supply has been absorbed because the zone seems to be acting as a new support.
- I am also posting the distribution and accumulation schematics on the LTF just for the Wyckoff traders.
- All the important LTF levels have been marked on the charts along with the psychological level of 16k.
- There is an old LTF supply area at 15900.
- If the price manages to push above, expect it to test 16200 which is also a strong supply area.
- How the price reacts in the vicinity of 16k will decide the future course of Nifty.
Thanks for reading! Hope this was helpful.
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
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LTI - Elliot wave structure of LARSEN & TOUBRO INFOTECHLTI is showing wave structure like, either larger wave A-B-C is done and now deeper retracement is possible as a wave X, or after wave 1-2-3 is done and now possibly in wave 4, where wave A-B is done and now wave C is unfolding.
This stock can see good pullback towards north direction nearly above 4600 where wave C would be equal to wave A, on the way down 4000 and 3897 would be a crucial support levels to watch out for.
All other trend indicators are also allowing to go long with mentioned levels on chart, RK's mass psychological cloud has confirmed buy signal on hourly chart along with support of RK's stop line which is good enough to rely on as always.
Overall wave structure on daily chart
price entered in RK's mass psychological cloud, along with RK's stop line support
EMA's positive golden cross done on hourly chart
Price closed above previous closing based highs on hourly chart
macd positive crossover on hourly chart
macd already in positive crossover and now uptick on daily chart
RSI uptick and now its above 60 levels on hourly chart
RK's Momentum is also positive crossed on hourly chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Elecon Engineering is looking strong during this correctionAfter breakout above 210, the stock is in a consolidation zone, with price retracement along the 21 day EMA. Expect price to move up after crossing the 270 level.
Stock is in an uptrend and above key moving averages, with a strong relative strength and volume activity.
Always keep your stop-loss defined before you initiate a trade.
Note: This is a personal analysis of a scrip, not a buy/sell recommendation
NIFTY INTRADAY_ PROJECTION & CALCULATIONSA lot of chaos, so now where, nifty is heading towards. I have created this thread for calculation #nifty short term view with proper SL & targets. Hope you guys do like it!
calculating the move which started from 03-06-2022
On 3 min TF, W-1 got completed at around 16710, W-2 got completed at around 16763, W-3 got completed 16350 (NOTE: wave -3 always have gaps which some time can't get filled), W-4 got completed at16515 & W-5 at 16250. SUB cycle wave-1 got completed here.
For sub cycle wave 2, which got completed at 16500 level. (Wave can go upto 99% of wave -1, actually everything depends on supply, here we are getting at mentioned level)
sub-cycle 1 & 2 got completed, check out here.
waves personality always remains same in each & every conditions, Here I have shared sub-wave cycle for wave 3 & wave-4) (Do check here also the condition of wave-3/gaps which I've mentioned above.
Here, as per the numbering wave -3 is still in progress and we could supply at 15900 levels, where one could exit if someone stuck at higher levels.
One could go short from here having SL above 15993 for the targets min. 15200, one could trail SL one nifty reaches to this level.
check out here.
For Impulsive wave Elloitt Wave conditions:
1- Wait for the formation of wave -1
2- Wave 2 should not retrace 100% of wave -1
3- Wave 3 sometime have gaps which sometimes can't get filled & wave 3 should go minimum 161 % of wave 1 & 2.
4- wave 4 can't end in the price territory of wave 2
5- wave 5 should go min 38% of wave 1,3 & 4
Please do add the skipped part!
All the best !
USDJPY: Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach)
ABCAPITAL Elliott Wave StudyTF - Monthly -
Aditya Birla capital had broken out descending trendline at 80 . But, due to supply pressure, it couldn't make a new high again. It ends up making the same high(double top).
AB CAPITAL has made a monthly consolidation range of 139 - 95
As per the monthly chart, AB CAPITAL can take support from 78.05 .
Three reasons to consider this level:
1. AB CAPITAL has given five touches to this level.
2. AB CAPITAL had taken support and broken up the trendline.
3. AB CAPITAL can retraced 61.8 % at 76.45 , which is demand zone.
If AB CAPITAL breaks down to 90 , then it will come to take support near 78.05.
TF: Daily -
AB CAPITAL has completed corrective waves A & B . Wave C of wave 4 is about to completed.
We are getting similar confirmation that if AB capital breaks down to 90.05 , we can expect a support level of 78.05 .
As per Elliott wave, wave 4 can complete near the previous 4th wave of lower degree.
Wave 4 of lower degree is a 78.50 . We got the confluence zone as 78.05 . After taking support level, AB CAPITAL will start its upward march.
I will update more information soon.
Thank you!
@Money_Dictators
SILVERSilver had broken support trendline and closed yesterday below 20 day moving average, which is clear sign of bearishness ahead. After bounce from lower end of falling channel it got rejection at upper end of falling channel, also RK's Momentum turned in sell mode, all other trend indicators like macd, rsi etc. are also suggesting same bias, According to wave structure we are possibly in wave Z of Z, which can lead to retest levels of $ 20.462 and if sustain below this then $ 19.80, On upper side RK's stop line may work as a major hurdle which is pegged at $ 22.550 to watch out for.
Over all wave structure could be like this one
Price had broken Support Trendline along with 20DMA level on closing basis
Price getting Declined by RK's Cloud and stop line on daily chart
RK's Momentum turned Negative on daily chart
Macd in weekly already in Negative mode
Macd in daily down tick converging to Negative mode
RSI in daily down tick and near 40
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Is pattern completed for BNF or their still some hope?Here the matter of concern is where, the complete structure is heading towards?
Is it towards further complex correction or correction has now been ended? Let's find out.
Here, BNF has completed, ZIGZAG correction as per Elliot's standard rules. (Till Period 08-03-2022)
ZIG ZAG waves personality
Patten- ABC
Sub waves- A(5,3,5), B(A,B,C) & C(%,3,5)
Fib retracement for wave C: Can't go beyond 61.8% of wave (A)
From here, It has gone up to 38782. So, here the question is, is it the connecting wave X or it's another pattern.
CASE -1: If its WAVE X:
The retraced move and as per mentioned counting it could be (WAVE-1) , which has ended @ 33000 and now its the time retracement of wave 2.
(Here, important point to note is (WAVE-2) can go till the start of (WAVE-1 (in some cases)), but can't go beyond origin of wave 1.
In this case we have to wait we have to wait for proper price action at FIB levels starting from 61.8%.
CASE-2: If it's not WAVE X:
As per the price action & waves personality, it could be FLAT that might end at around the the top of the channel having sub structures as ABC (A: 3 sub waves, B: 3 sub waves & C: 5 sub waves)
and if it's not FLAT the correction might go in the form of triangle. (No visual waves formation of BNF in form of triangle till now)
Now time for trading plan.
Expecting the retracement is impulsive in nature (could be the last leg i.e. wave C). Buy on ever dip preferred having SL below 50% FIB levels (from Sub wave 2 to expecting wave 3 in market hours)
