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Elliottwaveprojection

#Banknifty directions and levels for July 16th.Bank Nifty: Bank Nifty maintained a range market in the previous session and may continue that today. We can try a range breakout trade: that's if the market breaks the previous day's high, we can expect a swing high to 52,878. On the other hand, if it declines, we should wait for a breakout below 52,263. If that happens, it may fall further to a swing low of 52,088. Even if it breaks either upside or downside, the premium might not increase much. So please take your positions based on your knowledge.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for July 16th.Good morning, friends! 🌺🍬 Here are the directions for July 16th: Global markets are maintaining their range (based on the Dow Jones). Our local market has a moderately bullish trend. Today, the market may open neutral to slightly gap-down, as indicated by GiftNifty, which shows a decrease of 13 points at 8:00 am. Nifty and Bank Nifty have different structures: Nifty indicates a moderately bullish bias, while Bank Nifty indicates a range-bound market. Let's look at each one. Nifty: In the previous session, Nifty maintained a gap-up sentiment, but there was no big movement. Based on the wave structure, it could be a 5th wave, meaning a distribution wave. So, today we might see an initial correction. This is our first variation. Alternatively, if the market pulls back and consolidates or breaks the supply zone, we can expect the rally to continue. in this case, If the market doesn't break the supply zone, it may consolidate between the supply zone and the 38% Fibonacci level in the minor swing. > Without breaking this 38% level, it may maintain a bullish bias. A correction is expected only if it breaks the 38% level in the minor swing. > that means, If it sharply rejects around the supply zone and breaks the 38% Fibonacci level in the minor swing, it may turn into a correction.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for July 15th.Good morning, friends! 🌺🍬 Here are the directions for July 15th: The global markets are showing a slightly bearish sentiment (based on the Dow Jones). Our local market is maintaining a moderately bullish trend. Today, the market may open neutral or with a gap-up start, as indicated by GiftNifty, which shows an increase of 50 points at 8:00 am. Nifty and Bank Nifty have different structures: Nifty indicates a two-way move, while Bank Nifty indicates a range-bound market. Let's look at each one. Nifty has closed above the all-time high after seven consecutive consolidation sessions. This suggests a solid rally ahead on a normal trading day. However, with the upcoming budget event, even if the market breaks the all-time high again, it is unlikely to go much higher due to current sentiment rather than technical factors. > Based on this sentiment, if the gap-up sustains, we can expect a minimum of 24608 to 24644. After that, if the market rejects around the supply zone, we can expect a reversal of 38 to 78% in the Fibonacci sequence. This is our first variation. On the other hand, if the market doesn't reject there and consolidates, the rally will likely continue further. > Alternatively, if the gap-up doesn't sustain, it may range between the previous day's high and the 4th wave demand zone. In this sentiment, there is no big correction. The correction will continue only if it breaks 24420.
NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for July 15th.> Bank Nifty has a range-bound sentiment. If the initial market takes a pullback, we can expect a range between the previous day's low and 52666. In this case, the rally will continue only if it breaks the level of 52666. > Alternatively, if the gap-up doesn't sustain, the same range-bound market may occur. If the initial market declines, it may continue the range between the previous day's high and 52090 or 78%. Here, the correction will continue only if it breaks the 78% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
ULTRACEMCO - ELLIOT WAVE 5 IN MAKINGHi All, This idea is about Ultratech Cement Mkt Cap - 3L Cr ROE - 12% ROCE 15.3% P/BV - 5.56 MktCap/Sales - 4.7 FCF - 2k Cr Technicals Price action being published is on a 1 hour TF. As can be seen by the pattern, Elliot waves are in motion. Wave 1 was an impulsive wave followed by Correction wave (Wave 2). Ideally Wave 2 should correct to 50-60% as per Elliot theory & that is what happened during Wave 2 formation. Wave 4 corrected again by 30% and point 4 above point 1 which all points to the validation of Elliot theory. Wave 5 is about to commence which is as per the theory strongest impulse wave. Cement Sector as a whole is doing well due to boost in infra sector. Happy Trading, Thanks, Stock-n-Shine
NSE:ULTRACEMCOLong
by Stock-n-Shine
#Banknifty directions and levels for July 12th.Yesterday, there was significant movement in Banknifty. What about next? As per the pullback, the market may go further up with minor consolidation. GiftNifty also indicates that. If the market opens with a gap-up, we can expect minor rejection around the immediate resistance level. If this happens, it may retrace up to 23 to 38%. After that, if the market finds support at the 38% level, it may continue the rally with minor consolidation. This is our basic structure. In this case, we have to discuss something simple and not too complicated: > 1st one, There is no need to reject around the immediate resistance level. If it happens, we can expect a minor retracement. that menas If the market consolidates or breaks it with a solid candle structure, the rally will likely continue further(around the immediate resistance). > 2nd one, Is there any correction possible? Yes, correction is also possible. If the retracement breaks the 38% Fib level, it may continue to range. > This sentiment is also applicable for an initial market decline. This means that if the gap-up doesn't sustain or if the market declines sharply initially, we can follow the same sentiment.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for July 12th.Good morning, friends! 🌺🍬 Here are the directions for July 12th: There are no significant changes in the global markets, which are still showing a moderately bullish trend. Our local market is also showing a moderately bullish trend. Today, the market may open with a gap-up start, as indicated by GiftNifty, which shows an increase of 60 points. Yesterday, there was significant movement in Nifty. What about next? As per the pullback, the market may go further up with minor consolidation. GiftNifty also indicates that. If the market opens with a gap-up, we can expect minor rejection around the immediate resistance level. If this happens, it may retrace up to 23 to 38%. After that, if the market finds support at the 38% level, it may continue the rally with minor consolidation. This is our basic structure. In this case, we have to discuss something simple and not too complicated: > 1st one, There is no need to reject around the immediate resistance level. If it happens, we can expect a minor retracement. that menas If the market consolidates or breaks it with a solid candle structure, the rally will likely continue further(around the immediate resistance). > 2nd one, Is there any correction possible? Yes, correction is also possible. If the retracement breaks the 38% Fib level, it may continue to range. > This sentiment is also applicable for an initial market decline. This means that if the gap-up doesn't sustain or if the market declines sharply initially, we can follow the same sentiment.
NSE:NIFTY
by Manickamtraders
4
#Nifty directions and levels for July 11th.Good morning, friends! 🌺🍬 Here are the directions for July 11th: There are no significant changes in the global markets, which are still showing a moderately bullish trend. However, our local market is showing a moderately bearish trend. Today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 40 points (as of 8:00 AM). Nifty and BankNifty structures differ from one another. Let's look at them one by one. Nifty had a huge swing in the previous session. However, the structure is obviously a range market. Today, GiftNifty indicates a slightly positive start. If it rejects around the immediate resistance, then we can expect a correction, meaning the range market will likely continue. For this correction to happen, it should break the 38% fib level in the current swing. If it doesn't break the 38% fib level, it may go a little bit further up. This sentiment also applies to the initial market decline.that means If the gap-up doesn't sustain or the initial market takes a decline, then use the same sentiment. The alternate variation suggests that if the gap-up sustains and consolidates around the 78% fib level or breaks the 78% fib level with a solid candle, then the rally will likely continue.
NSE:NIFTY
by Manickamtraders
8
METROBRAND - BULLISH - IMPULSE - STARTINGHi Folks, Metrobrand has shown very high delivery in overall day volumes. It has gone through a healthy correction of 50% of last leg of impulse. Stock has absorbed selling pressure, albeit with low volumes with high liquidity. Currently, price has broken out the falling wedge and RSI has shooted up to corroborate the strength of this up move. Constant weekly close above 30 WEMA also indicates bullish stance of this stock. Elliott Wave Analysis 1. On larger timeframe its an ongoing impulse in the form of 12345. 2. Internal 4 of larger 3 seems to be getting over with one more divergent bounce left. 3. Targets are marked with fib projections on the chart. 4. 2-4 trendline will act as invalidation levels. 5. 5th wave can hit the upper channel. Not a trading reco, please do your own due diligence.
NSE:METROBRANDLong
by KunalSaxena10
3
UPL LTD - BULLISH BREAKOUT - STRONG UPMOVE POSSIBLE - LONG TERMHi Folks, I have been studying this sector(agro chemical) for a while. This sector can outplay operational deleverage since sitting on capex since few years. Recently, they did a rights to lessen their debt to save interest on borrowings. UPL is also a market leader in agro chemicals sector with presence across the globe with an array of topline products. Quarterly results are improving indicating they might be going towards the capacity utilisation they built on capex. Still early days but technically risk-reward is highly favourable. Elliott Wave Analysis 1. Larger 5 wave is playing out on weekly time frame. 2. 2 of 5 seems to be getting over after decent retracement. Good time and price correction happened. 3. A strong weekly candle above 30 WEMA is visible, more follow ups needed with huge daily candles to signify 3 wave up. 4.Low of 2 can act as an invalidation point for this whole structure. 5. Volumes and delivery are very high near the recent bottom indicating smart money interested in accumulation here. Happy Trading! Cheers!! Not a trading recommendation, please do your own due diligence.
NSE:UPLLong
by KunalSaxena10
Force Motors - Daily TF - Long TermThis is the Elliott wave analysis of Force Motors on DAily TF, below are the inferences - 1. Stock is in C wave, which is the end of correction after an impulse. 2. It can still continue correction further after creating the bottom. This correction might be time-wise or sideways correction. 3. But currently, the C wave is yet to be completed. 4. Projections or Targets of C wave are marked as Fib extensions. 5. After the correction (price + Time), stock can start next impulse but that will take substantial time from now.
NSE:FORCEMOT
by KunalSaxena10
Nifty - Pre Exit Poll Outlook: Bulls Above 22,400 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. WaveTalks - Market Whispers: Can you hear them? ----------------------------------------------------------------------------------------------- Key Levels to Watch: - Immediate Resistance: 23,000 What Unfolded Last Week: The index retraced 600 points, making a low of 22,417 as expected pause below 23000 in the last idea. Last Idea - Nifty Explosive (Part 3): From 22,000 to 23,000 in Record Time! Future Expectations: If Nifty surpasses the 23,000 mark, it will confirm that the bulls are in charge, reflecting the market optimism seen since early 2014. Nifty has strong support in the 22,400-22,500 zone. Holding above this zone, we expect an upward move towards the 22,775-22,825 target zone. If it holds above 22,825, it can target 23,000. Beyond 23,000, bulls will take charge, potentially driving the index to 23,500 and later 24,500. Note: Strictly no trades below 22,400. From WaveTalks Abhishek
NSE:NIFTY
by WaveTalks
17
Auropharma Trap - Catching The E-wave 1135 to 1105 🎯 🎯🎯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. WaveTalks - Market Whispers: Can you hear them? 🏆🏆🏆 Applying Wave Analysis in Real Time & Making the Patterns Fit can lead to amazing trades, and we're here to celebrate as we've successfully reeled in the E-wave fish into our nets. Hope you enjoyed the fall from 1135 to 1105 on April 10, 2024. What's next? If the stock holds above 1095, then it can surge upwards in Friday's session and reach the upside targets of 1135 / 1150-1160 zone, as updated via the 6:44 am comment on the last Auropharma idea. Last Idea Published From WaveTalks Abhishek
NSE:AUROPHARMALong
by WaveTalks
2