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Elliottwaveforecasts

BankNifty- Leading Diagonal Scenario Leading Diagonals have 2 forms or shapes which is rarest of patterns seen in the markets 1st form - can be 5-3-5-3-5 structure (upside or downside) 2nd form- can be 3-3-3-3-3 structure (upside or downside) Bank Nifty ( Possible 2nd form) unfolded from 24th March 2020 In the current scenario ( a possible example of 2nd form i.e. 3-3-3-3-3- could have unfolded in Bank Nifty) - i.e. ( Wave-i circled is yellow wave - (w)-(x)-(y) ) & so on. When all global markets turned upside in March 2020- Most of us thought, it could be upside bounce soon to reverse down ( which is a very common reaction because we had a severe correction on account of Covid19 or Corona Virus) & we still struggling with the tricky situation thinking that some big corrections could unfold soon & has tested the patience of majority market participants. Support & Resistance for Bank Nifty 1st Support -21400 2nd Support-21000 1st Resistance-22700 ------------------------------------------------------------------------------------------------------------------------- Note This is not a trading call. Kindly do your own due diligence. Consult a financial advisor before taking any trading based on this view. Purely for Educational Purpose -----------------------------------------------------------------------------------------------------------------------
NSE:BANKNIFTY
by WaveTalks
11
NIFTY : ZIGZAG CORRECTION AHEADAfter a recent high of 11800 , nifty has given a fall to the level of 11185 with a pattern called a LEADING DIAGONAL. Leading Diagonal is formed when a new trend is going to start or at the starting of a ZIGZAG CORRECTION for the prior move. As per the current structure , we can assume it is going to have a zigzag correction. Trading Strategy: Sell in the range of 11600-11700 keeping stop loss of 11810 for the target zone of 11200/11090/10900
NSE:NIFTYShort
by TradingSutra
5
Hindalco Wave Review (Recent High @ 203) - Final Wave E-ExpectedVideo Idea Shall Have Quick Review Hindalco BankNifty Nifty ---------------------------- Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. --------------------------------------------------------------------------------------------------------------------------- Note For Educational Purpose- not to be considered a buy or sell idea. ---------------------------------------------------------------------------------------------------------------------------
NSE:HINDALCOEducation
by WaveTalks
4
USDCAD- case of Ending diagonalVery soon there will be a trend reversal in the pair USDCAD. The current price structure is forming an ending diagonal which is going to complete the long term corrective wave A-B-C started in the month of march. The another reason for expecting a trend reversal is the bottom formation of dollar index, which clearly suggests that major reversal going to take place. Important levels are 1.30800 as the last & Above: 1.32400 reversal confirmation.
Education
by TradingSutra
ICICI Bank - Target Upside 380 & Above 380 for 410Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ------------------------------------------ Plan A - Buy with strict stops below 345 for Target- 380 / Above 380 for 410-420 (Not Valid Below -345) Plan B - Sell ----------If Stops bet 410-420 zone upside Target 380 / 347 /338 / 325 /287
NSE:ICICIBANKLong
by WaveTalks
5
TataSteel -Playing The Wedge(Holding Above 337 look for 343/348)Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ------------------------------------------------------------------------------------------------------------------- Trading Strategy Plan A - Buy strictly above 336-337 ( Strict Stops Below 336) for Upside Target 343 & Above 343 for 348 Plan B- Sell Later close from 348 Highs - Target Downside - Target 1- 328 / Target 2- 312 / Target 3- 300 --------------------------------------------------------------------------------------------------------------------- Last Tata Steel Wave Count on the Larger degree --------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Thanks & Regards
NSE:TATASTEEL
by WaveTalks
3