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Bank Nifty - Explosive 800+ Points MoveDisclaimer: The content provided here is for informational and educational purposes only and should not be considered as financial advice or a solicitation to buy or sell any securities. Always do your own research or consult with a professional advisor before making any trading or investment decisions. WaveTalks is not responsible for any losses that may occur as a result of reliance on this information. WaveTalks - Market Whispers! Can you hear them? The insights are fascinating, and when combined with old-school analysis, it becomes a lethal combination – as you witnessed today in the markets. Bank Nifty: Bhelpuri Analysis at its Best! What you saw unfold today was a result of a bhelpuri analysis. To simplify, this powerful move started with a Bullish Engulfing Candlestick Pattern right at the bottom of the historical level (50939-50950), as highlighted in the last update combined with Wave Analysis Last Idea - Enjoyed 1350+ Points Today, Bank Nifty surged by 850+ points, nearly achieving our third target, falling short by just 150 points. But no worries, the magic in today’s waves was undeniable. Key Psychological Level : Bank Nifty is now approaching the 52000 mark. If it breaks past this level, we could witness an even more explosive move. Caution Near 52000 : However, if it struggles at 52000, caution will be necessary as we approach this critical threshold. Nifty: Major Surge Across Indices While Bank Nifty stole the show with its remarkable 850+ point leap, Nifty also saw a significant rally, jumping 490 points in a single day! This synchronized movement in the indices is a testament to the power of blending Wave Analysis with traditional methods.
NSE:BANKNIFTY
by WaveTalks
2
Bank Nifty - Enjoyed1350 points from 51700+ What Next?Last Time Holding 50939 ...Which was wave-a of the triangle while moving upside & we achieved 51700 target Explore the latest Bank Nifty Analysis with WaveTalks Finally ...What A Fall from 51700 to 50300's as expected ...Index dropped & bounced Last Idea - 51700 - Is this Short Term Top We are here again at crucial historical level 50939 / 50950...If Index holds above this level..can we bounce again upside towards 51350 / 51450 & crossing 51700+ this time it can jump towards 52000
NSE:BANKNIFTYLong
by WaveTalks
7
TATAMOTORS Ending diagonal.. trend is getting matured..Tata motors in impulse 5th wave up .. high made 1179 (min target of 5th wave done) It seems its making ending diagonal pattern in form of 3-3-3-3-3... waves and if it is doing diagonal pattern than chances are there for 3rd wave of 5th up in 3 waves and one more new high possible. important support is 4th wave low 855 breaking of which will end the impulse trend and down trend will start in tata motors. Disclaimer : study is only for educational and I am not SEBI registered.
NSE:TATAMOTORS
by MDstockmagic
Technical Analysis on SBI CardSBICard is currently exhibiting several noteworthy technical indicators that suggest a potential bullish trend is emerging. 1. SBICard has experienced a consolidated phase over the past three years, during which its price movements have remained contained. Recently, the stock has broken through a significant weekly trendline, indicating a shift in market sentiment. This breakout is crucial, as it often signals the end of a consolidation period and the potential for a new upward trajectory. 2. The weekly Stoch RSI has surpassed the critical threshold of 70. This level is typically associated with overbought conditions; however, in the context of a breakout, it can also indicate strong momentum. Traders should consider that while a high RSI may raise caution, it does not necessarily imply an immediate reversal, especially if accompanied by strong volume and positive price movement. 3. Approximately two weeks ago, a MACD crossover occurred, which is often interpreted as a bullish signal. This technical indicator has acted as a reliable predictor of trend changes in the past, and its recent crossover reinforces the notion that upward momentum may be gaining strength. 4. Last week, SBICard experienced notably high trading volume, which adds confirmation to the breakout. An increase in volume typically suggests that there is strong interest from buyers, lending credibility to the price movement. When breakouts are coupled with high volume, they are generally considered more sustainable. 5. An analysis using Elliott Wave Theory indicates that the prior five-wave downtrend may have completed its cycle, paving the way for corrective waves and potentially an upward trend. This framework suggests that the stock could be in the early phases of a new upward wave cycle, which could enhance bullish prospects. A pivotal level to watch is the 200-period weekly EMA, located around the price of 813. A sustained positive close above this EMA would be a bullish signal, reinforcing the upside potential. If this level holds and the stock continues to advance, the next significant resistance level is seen around 933. On the downside, traders should note a short-term support zone at 753. This level will be crucial for any potential pullbacks, as a breach below this support could negate some of the bullish outlook and indicate a need for further analysis. From a risk management perspective, the current scenario presents a favourable risk-to-reward ratio of approximately 1:2. Disclaimer: The information provided in this stock analysis is for informational and educational purposes only and should not be construed as financial advice. Always conduct your own research before making any investment decisions.
NSE:SBICARDLong
by NiftyNotions
JIOFIN BULLISH VIEWJIOFIN BULLISH VIEW ELLIOTT WAVE THEORY JIOFIN showing the fractal nature , completed 1st wave and 2nd wave higher degree showing upward signs , high volume traction can move 3rd wave to equality around 500 or even upto 1.618 around 620. let it gain some traction Wave 1 is considered using 17 leg formation to avoid further classification of inner counts , easy to count in case extension and prominent impulsive moves. This is for educational purpose only, in case of any suggestion you are welcome.
NSE:JIOFINLong
by Manojmkm
NSE ASIANPAINTS - At the Edge of Kinfe Timeframe: Daily NSE ASIAN PAINTS has been undergoing a corrective phase for about 80 weeks, with its price confined within a range of 3329 – 2938 , excluding excesses. The ADX indicator has declined to 21, while the average true range (ATR) stands at 43. Presently, the price has breached the 20-day exponential moving average (EMA) and is trading below the 50, 100 , and 200 EMAs. According to the wave principle, the price has formed a corrective formation A-B-C. Wave (B) occurred at 3422.9 , and wave (C) has taken place. Wave (C) has already reached 100 % of wave (A), indicating equality between wave (A) and wave (C). Sub-wave 4 of wave (C) is expected to occur, followed by wave 5 of wave (C). A buying opportunity may arise if the price breaks above the wave A – C line and maintains levels above 2931. Targets for the Long position would be 3026 – 3152 – 3285+. We Will update further information soon.
NSE:ASIANPAINT
by forextidings
2
EWT – Can Bulls Push NSE JIOFIN to New Highs?Timeframe: Daily After hitting a low of 202.8, NSE JIOFIN has formed an impulsive cycle. Wave ((2)) has not retraced more than 100% of Wave ((1)). Sub-Wave (3) is a powerful extended wave, reaching 261.8% of the Fibonacci extension of Wave (1). The price has completed Wave (4) at 307, marking an exact 50% retracement of Wave (3). The impulsive structure is expected to resume following a breakout above the corrective slope. However, if the price encounters strong resistance at the upper channel, there is also a possibility of a triangle formation on the daily timeframe chart. The 337 level will pose a significant challenge for the bulls to overcome. According to the alternative chart, the price has completed Wave D at 337.95 and has begun forming Wave E. If the price doesn’t break below the low of Wave C, Wave E could alternatively be interpreted as a 1-2 wave formation. If price breaks out 338 , traders can trade for the following targets: 360 – 383 – 405 +. A breakdown of Wave A at 307 will require a reassessment of the entire wave structure We will update further information soon.
NSE:JIOFIN
by forextidings
7
BankNifty (Alternate) - Do not Sell Until 50939 BreachedWaveTalks - Market Whispers! Can You Hear Them? Disclaimer: This is not a solicitation to buy or sell. Please consult your financial advisor Follow-Up on the Previous Idea Our last suggestion to sell BankNifty below 51404 was spot on, as we witnessed a 200-250 point drop during the session. However, I expressed concern that the decline didn’t seem convincing, suggesting that new highs could still be possible as long as 50939, our critical level, remains intact. Recent Developments On 29th August 2024, the index opened near 51000, reaching a precise low of 51028, which we marked as Wave C. Holding 50939 was critical, as suggested at 11:12 am in the last Bank Nifty Idea. Following this, we saw one push towards recent highs, reaching 51369, which we marked as Wave D. Currently, we are observing a sharp fall in Wave E, which is still unfolding. Last Idea - BankNifty - Is This an Ending Diagonal What to Expect Next Holding 50939: If BankNifty manages to hold above 50939, expect the bulls to regain control, potentially driving the index beyond 51404, with new highs on the horizon. Breaking 50939: Should the index fail to sustain above 50939, traders should brace for further downside. This break could signal the end of the current bullish wave structure and open the door for a deeper correction. Key Levels to Watch Immediate Support Test: Monitor the behavior around 50939 closely in the upcoming sessions. Potential Upside: If 50939 holds, look for upside momentum as we approach the first week of September 2024. This is a pivotal moment for BankNifty. Stay alert and be ready to adjust your positions based on the critical 50939 level. Regards WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
2
APL APOLLO in Making Wave ((4)) Reason :Month chart structure is clear bullish sequence making Higher High and Higher lows. Trend is Upwards, So trade will be buying Now opportunity for buying in Uptrend means, when we get corrective wave formation scenario like wave 2 or Wave no 4 in any degree. so that we can En-cash the upcoming Impulsive major moves in the form of wave 3 and wave 5 in general. In this chart as per my Elliot Wave count and analysis we are into making of Flat correction pattern Wave ((4)) in Black which is a corrective wave. The same can be completed at 1253 range when the wave (A) blue equal Wave (C) blue which is yet in making. So the Fibonacci Extension level from mapped from (A)-(B) blue gives us the Range of 1253.5 - 1027.55 which is 100% and 161.8% of Fibonacci Extension. Once price passes 1027.55 it will be like a impulsive wave on downside and their will be change in wave count and we may have a further deep correction in stock. However till then we can go with the current view and plan a Buying at 1253.5 Level. Trade Management : We can expect min. Bounce in 3 wave up from the Blue box mentioned. Once we are filled with buy order we will be booking partial profit of 50% Qty at 50% Fibonacci Extension of Wave (C) blue and subsequently will move our stop oss from Exiting 1027 Level to Entry level and Make our trade Risk Free. and Keep trailing Stop loss for balance 50% Qty once our trade moves in our direction Stop loss will be placed at low of previous Swings. Happy Trading Regards Vijay DHAGE profitadda_iteind
NSE:APLAPOLLOLong
by profitadda
BankNifty -Tower Bottom Unveiled: Bulls Magical SpellWaveTalks - Market Whispers! Can You Hear Them?... August 13th: The Bulls' Last Stand As we approached August 13th, 2024, the market was rife with tension. With stops being hit left and right, I made it clear at 12:55 pm in the last post that the bulls weren’t giving up without a fight. It was a crucial moment—one where patience and strategy were key. The market flirted with disaster, yet I advised holding the line, suggesting that the critical level… would be our stronghold. August 14th: The Calm Before the Storm The following day was a test of nerves. The market kept everyone guessing, moving in unpredictable waves. But I didn’t waver. I updated my social media followers, pointing out that while the expected gap-up didn’t materialize, it was a blessing in disguise. Why? Because it set the stage for an even bigger opportunity. I highlighted that crossing 49,960 could trigger an upside move for safe traders , while risk-takers should stay alert as some kind of accumulation happening close to 49654. August 16th: The Magical Spell Unfolds Post-Independence Day, on August 16th, the market delivered a performance that was nothing short of magical. It was as if the entire week had been leading up to this moment. The day began with a gap-up ( Instead of green big candle it was gap up equivalent to bullish green tower required for Tower bottom patter with accumulation in between), and after briefly retracing to the 49,870s, Bank Nifty launched into a powerful rally, surging past 50,500. This move confirmed the formation of a Tower Bottom pattern—a bullish candlestick formation that signaled the beginning of a new uptrend- is it a new up trend or some relief to bulls, only time knows -what next? The Tower Bottom: A Bullish Reversal This Tower Bottom pattern wasn’t just any signal; it was the market’s way of announcing that the accumulation phase at 49,654 had reached its tipping point. With this pattern confirmed, the path to 50,800+ became clearer than ever. The market, as I’ve always said, is a battlefield where only the swift and the strategic survive. Those who heeded the call to cut losses quickly if the key levels broke were well-prepared for this bullish reversal. The Road Ahead: 50,800+ in Sight With the Tower Bottom pattern in play, Bank Nifty is now set on a course towards our first target of 50,800+. This move is a testament to the power of technical analysis, patience, and unwavering discipline. The market has shown its hand, and for those who were ready, the rewards are already being reaped. This was not just a trade—it was a lesson in precision, timing, and understanding the subtle cues of the market. The week may have been truncated, but the gains were anything but small. Keep your eyes on the prize as we approach our next milestone, for the journey is far from over. Regards WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
5
RAILTEL - AS PER FIB RETRACEMENT, CORRECTION WAVE MIGHT BE OVERHi, This idea is about Railtel Corporation of India Ltd ABOUT THE COMPANY RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Miniratna" PSE of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers TECHINCALS As per the price action, the first impulse wave took the price all the way from 337 to 615. THen the correction wave commenced which pulled back the price from 615 to 440 levels. The price point as per fib retracement is at the point of 50-61% which as per Elliot Wave theory should be the correction wave Next impulsive wave could start if the price aloses above 475 with volume support FUNDAMENTALS Market Cap ₹ 15,066 Cr. Current Price ₹ 469 High / Low ₹ 618 / 163 Stock P/E 56.4 Book Value ₹ 56.9 Dividend Yield 0.61 % ROCE 20.2 % ROE 15.2 % Face Value ₹ 10.0 Equity capital ₹ 321 Cr. No. Eq. Shares 32.1 EPS ₹ 7.99 Promoter holding 72.8 % Change in Prom Hold 0.00 % Chg in Prom Hold 3Yr 0.00 % Pledged percentage 0.00 % Market Cap to Sales 5.67 Sales growth 29.8 % PEG Ratio 3.81 EVEBITDA 27.9 Quick ratio 1.16 Trade receivables ₹ 1,268 Cr. Sales ₹ 2,658 Cr. Debt to equity 0.02 Price to book value 8.25 Free Cash Flow ₹ 347 Cr. CMP / FCF 75.8 Thanks, Stock-n-Shine
NSE:RAILTELLong
by Stock-n-Shine
#Nifty directions and levels for August 6th.Good morning, friends 🌞 Here are the directions and levels for August 6th. Market Overview The global market experienced a pullback, but sentiment remains bearish, and our local market also has the bearish sentiment. Today, the market may open with a gap-up, indicated by a 150-point positive start in GIFTNIFTY. Both Nifty and BankNifty are reflecting the same sentiment. Let's take a closer look: 1.Basic Structure: Nifty and BankNifty both fell drastically in the previous session. Whenever the market takes a sharp movement, it will take some consolidation afterward. How will it work in today's session? We can look at that. > As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 23801. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for August 6th.1.Basic Structure: As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 49439. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for the August 2nd week.Good evening, friends! 🌺🍬 Here are the market directions for the second week of August: Global and Local Market Overview Last week, both global and local markets experienced significant volatility, closing with a negative candle. On the weekly chart, the market shows a moderately bullish trend, but the 1-hour chart suggests a bearish sentiment. For this week, I anticipate a moderately bearish trend. Let's delve into the details. Nifty: Current View: - Nifty has completed the 5 sub-waves within the 3rd wave extension. Following this, a three-wave corrective pattern is expected. - The declines over the past two days, along with negative global market closures on Friday, suggest a bearish start on Monday. - If the market opens negatively, the 50% Fibonacci retracement level should act as strong support. If support holds, a 38% pullback is likely. - This pullback could be the 2nd sub-wave of the correction. If the market rejects this pullback and breaks the previous low, the correction will likely continue, targeting levels around 24365 to 78%. Alternate View: The alternate variation is a bit more complicated, but I will try to explain it simply. - If the initial pullback breaks the 38% Fibonacci level in the minor swing, it could reach the 61% and 78% retracement levels. - Usually, the one and two formations are very difficult to predict in the Elliott Wave. - Because the 2nd wave targets allow 90% of the 1st wave. - So, I use a common Fibonacci method: whenever the market breaks the Fibonacci level of 38%, it most often reaches 61% to 78%. - After that pullback, if it sustains or breaks the fib level 78%, then it may continue the rally further to the level of 25143 to 25209 (extension variation). - Or if it faces rejection at either one of the resistance levels (61% or 78%), it could turn into a correction. - However, we could take additional confirmation for the reversal that if both the EMA 20 and the Fibonacci level of 38% in the minor swing break, we can expect a reversal.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for the August 2nd week.Bank Nifty: Current View: Structurally, it's a range market, because whenever the market enters into double and triple corrections, it forms huge ups and downs within the range. It's very difficult to predict the proper direction. However, my expectation is the same as for Nifty. Let's look at that. - If Monday's market opens negatively, it could find support around the 51020 level or the 78% Fibonacci retracement. - If this happens, we can expect a 23% to 38% pullback in the minor swing. It's a minor pullback only. - after that, if it is rejected there(23 or 38% in the minor swing), then the correction will continue if it breaks the previous low again. This is our first variation. Alternate View: - If the initial bounce breaks the Fibonacci level of 38% in the minor swing, it could reach the next target of 61% and 78%. These are usual range market targets. - After that it faces rejection there (around 61% or 78%), then the range market will likely continue. - However, we could use the same reversal confirmations here as well(.EMA 20 and the Fibonacci level of 38% breakout) - Alternatively, if it sustains or breaks the level of 78% on the upside, then the pullback will likely continue to the level of 52526 and 52694.
NSE:BANKNIFTY
by Manickamtraders