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Elliott Wave

City Union Bank completed a Wave 4 on Weekly timeframeCity Union Bank has been in an uptrend since February 2009 and has recently completed Wave 4 in a triangle pattern. Now, it is poised to form Wave 5 in the coming weeks. A conservative approach to maximize gains from Wave 5 is to enter the market at the right moment, which is when the stock starts trading above Rs. 181, marking an entry over Wave D of the triangle. This strategy aligns with the principles of Elliott Wave Theory, where Wave 5 typically represents a final upward movement in the trend. By waiting for the stock to trade above Rs. 181, you can potentially capture the gains from this anticipated upward movement.
NSE:CUB
by rajnish_jana
Nifty 50 - Potential Deep Correction AheadAfter analyzing the current structure of the Nifty 50 index, I believe we're looking at a potential deeper correction in the market. The larger downtrend has been playing out with Wave A completing at 23,263.15. We're now in Wave C, and a deeper correction could be expected with Wave C potentially extending further down. Key points: Wave 5 might be Wave 3 and could indicate a bigger correction. Wave C could target 21,292.70, with further downside potential. The Max retracement for Wave 4 suggests a corrective rally without violating the start of Wave 1. Fibonacci extension indicates a deeper retracement, possibly extending beyond the 1.618 level. I believe there's a strong chance the market might head lower, and this could mark the start of a bigger trend reversal. Would love to hear your thoughts and if others are seeing a similar pattern! Let's see how this unfolds. Chart Details: Timeframe: 4-Hour Chart Indicators: Fibonacci retracements, wave counting Key Levels: Target for Wave C: 21,292.70 or lower Max retracement for Wave 4: 22,720.30 1.618 extension: Lower levels are anticipated.
NSE:NIFTYShort
by VeerappaKaujageri
13
Nifty 50 - Elliot Wave UpdateHere are the scenarios (ignore technical details (as I can post only one chart per post) Possibility 1: ED in E of E - 22400 should be low Possibility 2: C started in E - Can go till 22000 - 22250 Possibility 3: C1, C2 done C3 going on - This will be bad. - 21600 possible Tomorrow (Friday, Feb 28) is a crucial day for us to get the answer. Tracking Nifty 500 (currently at 20315) will give a better picture. Why? Because it was holding above the previous low, while Nifty had broken. This was giving the confidence that Nifty is divergent and forming a bottom, and we should head up after Feb expiry. So, here’s what we need to track in Nifty 500 (today’s close: 20315) ⁠ If we turn before 20130 - We'll go up till 22300-500 ⁠If we break 20130, then we'll first go down to 19300-500, and then recover to 21500-700 Best would be today’s closing becomes the bottom, and we have a +1% green day tomorrow - breaking 20550 tomorrow is important (20 month moving average). Let's see what the market has in store!
NSE:NIFTYLong
by pankajarora232
U(R) Truce on the Way – Nifty: Nervous to Nirvana! ElliottWave Life and markets share a common truth: Decisions made at crossroads define the journey ahead. Whether it's turning left or right at an intersection or navigating the ever-changing waves of financial markets, one thing remains constant—preparation is key. In trading, emotions often cloud judgment. The impulsive, last-minute decisions taken without a backup plan lead to uncertainty, just as a driver who hesitates at a crucial turn may end up lost. If you don’t prepare in advance, you will always be at the mercy of emotions rather than logic. I’ve always warned about hidden market paths, sharing insights through stocks like BHEL, ONGC, and others that signaled Nifty’s nervousness well before it unfolded. If you ignored the signs or failed to rethink, then neither I nor anyone else can help—because wisdom lies in learning before mistakes become losses. As someone once said: 👉 If you learn from your own mistakes, you’re intelligent. 👉 If you learn from others’ mistakes, you’re a genius! Now, coming back to our topic: The Ukraine-Russia Truce & Nifty’s Grand U-Turn? The war between U (Ukraine) & R (Russia) seems to be moving towards a truce, but only time will confirm its reality. However, technically, Nifty has been unfolding a wedge pattern since December 2024—a structure known for its time-consuming, overlapping movements across multiple wave degrees. On January 29, 2025, I proposed a falling wedge scenario with a key requirement: Nifty must overlap 22,537 to confirm the pattern Copyright of WaveTalks By Budget Day (February 1, 2025) Not only did Nifty hit this level, but it surged to 23,807 on February 5, adjusting the structure to an expanding wedge — a rare phenomenon . 6th Feb 2025 - Expanded Ending Diagonal Last Wave Pending Downside (One Day Before RBI Policy on 7th Feb 2025) Copyright of WaveTalks 11th Feb 2024 - What a fall in Expanded Ending Diagonal Copyright of WaveTalks What’s Next? The Big U-Turn? If this pattern completes in the current zone and starts bouncing upwards, we might witness Nifty’s journey from Nervous to Nirvana—a potential upside move towards 25,000, possibly even 26,277 for a new high! Are We Ready for the Grand Turn? Just like life, trading is about preparation. Those who anticipate the next wave will ride it effortlessly; those who hesitate will be left watching. Stay tuned as this unfolds—Catch me with another exciting idea from WaveTalks… Market Whispers! Can You Hear Them? Regards, Abhishek
NSE:NIFTY
by WaveTalks
20
#Nifty directions and levels for February 21:Good morning, Friends! 🌞 Here are the market directions and levels for February 21: Market Overview The global market has a slightly negative bias; however, the structure remains bullish (as indicated by the Dow Jones). Our local market is maintaining a moderately bearish sentiment. Today, the market may open neutral to slightly gapping down, as the Gift Nifty indicates a negative move of 50 points. In the previous session, both markets consolidated after a gap-down start. What about today? Structurally, we are still in a range, so it may continue in that manner. However, in the previous session, apart from HDFC Bank, all banking stocks performed well. If HDFC Bank supports the market today, we can expect some positive bias; conversely, if it does not support, the market may consolidate or correct. Just my opinion—let's look at the chart. Nifty Current View: The current view indicates that the Gift Nifty is suggesting a gap-down start. If the market finds support around the 78% level, or if the initial market takes a solid pullback without breaking the previous day's low, we can expect a pullback of a minimum of 38% to 78% within the range. After that, if it breaks the top of the range, we can expect a continuation of the rally, based on the structure. Alternate View: The alternate view suggests that if the gap-down has a solid structure and consolidates around the 78% to minor pullback zone, then the correction will likely continue to 22,725 to 38%.
NSE:NIFTY
by Manickamtraders
4
STAY AWAY FROM LIC HOUSING FINANCELIC Housing Finance is in down trend since July 2024. It has form a downward sloping triangle. we are in Big Wave E of a triangle and we are going to see one more triangle within a triangle, Once the small triangle which is forming in last leg of E is completed we will see uptrend, but the confirmation will come only after we close successfully above 600. Remember Stock movement is not linear, what that means is after the cross over above 600 we will see a pullback which will be the time to go long, till then need to keep patience. Disclaimer: This Idea is for educational purpose only and its not a buy or sell recommendation. you guys do your own analysis and decide.
NSE:LICHSGFIN
by swapsachin
Nifty - Elliot Wave Update - Close to bottom, for Now!I am considering the entire correction from October highs as a triangle - ABCDE. We are now in E and E seems to be forming an Ending Diagonal - Another ABCDE. The chart shared shows internals of the Wave E. I have marked two alternates - Red and Orange, and in both cases we are close to end of correction which should end anywhere between 22500-600. If 22500 breaks we will have to update the counts and consider a dip to 22000. The bottom that gets formed could either be completion of correcting in Weekly Wave 4 in which case we head to ATH i.e. +28k in Nifty OR it could be just first leg of correction that ends in W and we go up in an X, in which case I expect 24-24.5k. In both cases a good move up should unfold - Expecting March to be a green month and most likely April to follow through upwards - So, gunning for 2 green months. A few factors getting aligned - US market seems topping out in Weekly Wave 3 and so does USDINR - both should favor some flow of funds towards a better valued Indian markets - and hence a +ve fund flow from FIIs should help bump up the markets, along with liquidity getting infused by RBI. So, time to start putting in the lump-sums :)
NSE:NIFTYLong
by pankajarora232
DLF mine favorite stock, its time againDLF was in sideways moves for quite a long, however it was trying to finish the contracting triangle. What more we are at the right time. Possibilites: 1) we can have another small contracting triangle in which leg e will be the leg a and so on. 2) we will see a sharp move towards 944-945 considering the triangle is completed. Its a little wait and watch situation for few more days before we see any conclusive move. Disclaimer: This is for educational purpose only. I am not authorised to give buy/sell recommendation. please do your own analysis and then take a decision.
NSE:DLF
by swapsachin
1
Cipla Update after the Correction Please refer the earlier chart of Cipla. Correction is over, we are seeing a big move up after the end of correction at wave e, remember there might be a pull back but overall the uptrend has just began. I am expecting that Cipla to move at 1675-1679 by Mid March to End of March. First Immediate move to 1580 and then the rest will unfold slowly. Disclaimer: I am not SEBI registered member and these Ideas are meant only for educational purposes.
NSE:CIPLALong
by swapsachin
DR REDDY GAP DOWN IN 3rd WAVEwe clearly see GAP DOWN in 3rd wave of the 5 waves of the C wave. What does this indicates? A fall to complete the 3rd wave was quick. we are done with 3rd wave and in the process to complete the 4th wave. Possibilities: *) Downward it can go to 1148-1160 to complete the 5th wave. *) It may close the 3rd wave Gap before resuming its downward Journey to complete the 4th wave. (Less Probability) In Either case I would prefer not to enter any new position and wait for the right opportunity. Disclaimer: I am not SEBI registered Member. This is Strictly for educational purpose only.
NSE:DRREDDY
by swapsachin
Nifty directions and levels for February 20th:Good morning, Friends! 🌞 Here are the market directions and levels for February 20th: Market Overview Globally, nothing has changed, while our local market is maintaining a moderately bearish sentiment. Today, the market may open neutral to slightly gapping down, as the Nifty futures indicate a negative move of 50 points. In the previous session, Bank Nifty had a solid pullback, but Nifty didn't react similarly and maintained its range. What’s next? The two structures are a bit different, so we can't take this in a single direction. My personal opinion is that structurally, there is still a decline pending today. If this decline finds support around the immediate support level, we can expect a continuation of the pullback with some consolidation. On the other hand, if it doesn't find support today, the market will likely consolidate before continuing its correction, Let’s look at the chart. Nifty Current View: The current analysis suggests that if the market pulls back initially or finds support around 22,830, we can expect a pullback. However, until it breaks the previous high, we can't anticipate significant movement. This is the first scenario. Alternate View: The alternate view indicates that we are in a range-bound market. Until the market breaks 22,769, the range will continue. However, if the decline has a solid structure and breaks 22,769, we can expect a continuation of the correction.
NSE:NIFTY
by Manickamtraders
5