Nifty50 Day End Analysis 2023.02.06NSE:NIFTY looks to extend the current corrective phase till 18450-18420 or in worst case till 18360 (rare chance but still a probability) level.
● Wave a (sky blue color) with subwaves i-v (purple color) completed on 2023.06.01.
● Currently into wave b (sky blue color) which is an abcde (purple color) contracting triangle pattern.
● Wave c (sky blue color) should take it to 18450-18420 or in worst case till 18360 level.
Elliottwaveprojection
Nifty50 day end analysis 2023.05.31NSE:NIFTY is currently into subwave 4 (orange color) of larger wave 5 (blue color) of larger wave 3 (gray color). The subwave 4 (orange color) is most probably complete and we should witness subwave 5 (orange color) from hereon.
Level around 18843 (red color horizontal line) should mark the end of larger wave 5 (blue color) and also larger wave 3 (gray color).
MRF possible Elliott wave countsHello Friends,
Here we had shared possible Elliott wave counts of MRF chart, in which we can say that currently we are near to make one more top as a wave 5, so any dip could be used as an opportunity to go long with strict invalidation level of 95164, which is stoploss level of current view.
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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.
Most investors treat trading as a hobby because they have a full-time job doing something else.
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If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
BankNifty is going higher.What will be it's next move?BN is rising higher after making yesterday's low of 43390 which was probably a A-B-C correction of 3rd wave move forming the end of 4th wave. Though it's not corrected as I expected for 43000 level (approx 23.6% of normal correction of 3rd wave), it has actually corrected as per wave theory where C=A and B went near about top of A. So, it's correction has completed and we would expect it to cross it's life-time high of 44152 in coming days, may be start of next week.
Thank you for viewing my analysis and agreed with me. Market is frequently changing its move and wave structure. Market is supreme and so we need to change our view frequently.
'ADANIENT' Weekly Wave Counts'ADANIENT' as per Elliott Wave theory will possibly going to make a 1000% move to the upside.
The 5th wave is pending.
The full impulse of 'ADANIENT' is pending. But where are we now?
We are in the 4th correction which I expect to be sharp to the level of somewhere near to 500 as wave 2 was a flat correction.
Trade with your defined risk. The trade psychology is more important to play the trade as compare to analysis.
Regards.
Next Most Probable Move of BankNiftyLast Friday we saw a smart recovery of BN from it's Trendline support perhaps making it's minor 5th wave moveup.Most probably we could see a gap-up opening above it's lifetime high of 44152 by breaking it's major resistance(trendline & LT high) and if it happens then could see it upto its upper channel or 44475 around.
In case BN fails to break its LT high or trendline, we may see another downmove(less possibility) Let's see what will happen tomorrow. Please feel free to leave comments.
HIL LTD possible Elliott wave countsHello Friends,
Here we have shared possible Elliott wave counts on hourly chart of HIL LTD.
Post all-time high which was high of August 2021, we are still in correction phase only.
This correction is complex correction, in which we have labeled correction swings as a wave (W)-(X)-(Y), which we have completed wave (W) & (X), and now possibly we are in wave (Y),
in wave (Y) we have completed wave A and currently we are in wave B, in B we have completed wave (a) & (b) and now we have started to unfold wave (c)
which is expected to unfold in five subdivisions as a wave i-ii-iii-iv-& v, which is expected to go towards north direction as uptrend which is expected to be contra trend,
at the point which is expected as target, it is equality of wave (a) and wave (c), the point where wave (c) is going to be complete, it would be completion of wave B.
Possibly we could see negative divergence at the ending of wave v of wave (c) of wave B.
At that point, trend could give reversal to complete wave C downwards, completion of wave C would complete wave (Y).
This is overall Elliott wave structure on daily chart.
This is overall Elliott wave structure on hourly chart.
Witnessed Divergence at the end of wave v of (c) of B
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.
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 and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
AUROPHARMA: Terminal ThrustUsually 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).
Triangles are the penultimate waves i.e. waves before the last wave. This suggests that prices have reached to level of exhaustion and are likely to take a reversal. In this particular case, Auropharma is likely to finish the Wave-3. A break of the green trendline will give the first signal that wave-3 has peaked.
Trading strategy: Sell below 630 keeping Sl of the previous high before breaking the 630 on the downside and look for the target of 600/585 in the coming days/weeks.
BankNifty Tidal Wave- Ride or Crash? 15th May 2023Welcome back to another episode of Wave Talks. Bank Nifty's Tidal Wave -Ride or Crash: Index can face a significant shift with the unfolding ending diagonal. Will you ride the wave to profit or crash on the shore? Unfolding wedge pattern
It's time to reconsider Bank Nifty's pattern as it poses a risk. Let us discuss in details price objective & outlook for next few weeks with key & critical levels for better risk management.
Last Idea - BankNifty's Danger -Is this a rising wedge
U.S.Dollar Index possible Elliott wave counts of DXYHello Friends,
Here we have shared possible Elliott wave counts plotted on chart of U.S. Dollar Index - DXY on daily time frame, which clearly indicates that after top of September 2022 we are in corrective phase as per Elliott wave structures, and as per wave counts we can see that we had completed wave ((3)) and now possibly we are in second half of wave ((4)) in which we had completed wave (A)-(B) and currently we are unfolding wave (C), in wave (C) we should have five subdivisions and we had completed wave 1 and now we are in wave 2 which is contra trend, we are assuming again a reversal signals to start again journey towards south direction as a wave 3-4-& 5, to complete wave (C) of bigger degree wave ((4)).
Overall it's looking very good candidate to go short on rise along with invalidation levels of 105.883, because as per wave principles wave 2 will never retraces more than 100% of wave 1.
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.
Thanks 💕
Price below mass psychological cloud level (Bearish Bias on daily)
Daily MACD positive, but below resistance and zero line
Weekly MACD negative
Monthly MACD negative
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.
BankNifty's next anticipated short-term move Instead of going down as bigger C wave(as I anticipated in my previous post) it turned around 42822 and moved up again to 43772. It's look like making an irragular or flat correction. We can expect a devastating downmove 42450 level unless it should move above 43772 and stay above this level. Again BN is struggling and unable to make sizeable move.
What is your view, please leave comment and express your view.
GOLD Possible Elliott wave countsHere we had shared possible Elliot wave counts of GOLD chart in which weekly, daily, 4 hourly and hourly all these time frames counts are aligned with each others.
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.
SILVER possible Elliott wave sountsHello Friends,
Here we have shared possible Elliot wave counts of SILVER 4 hourly chart in which we can say possibly we are heading towards north direction as a fresh impulse wave, which can lead towards Bullish bias as now onwards.
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.
COPPER possible Elliott wave countsHello Friends,
Here we have shared possible Elliott wave counts on 4 hourly chart of COPPER, in which we can say that still selling pressure may continue for some while, because now possibly we are in complex correction phase as wave ((w))-((x))-((y)), in which we had completed ((w))-((x)) and now possibly we are unfolding wave ((y)) in which subdivisions are (a)-(b)-(c) and here also we had completed first two subdivisions as wave (a)-(b) and now we are unfolding wave (c), which can still continue same bearish trend ahead for now some while, where wave (c) would be completed , there wave ((y)) will be done, where wave ((y)) would be done, there wave 2 will be finished and we can say bearishness will be finished with wave 2. wave 2 will not retrace more than 100% of wave 1 so bottom of wave 1 is pegged at $ 3.2410 which should not be crossed as per wave principles, wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269, and wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618.
Well, post wave 2 we can assume fresh impulse ahead as wave 3.
wave (c) can be or may be at equality of wave (a) which level is coming near $ 3.6269
wave ((y)) can finish near equality with wave ((w)) which level is coming near $ 3.6618.
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.