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Elliott Wave

#Nifty directions and levels for January 27th:Good Morning, friends! 🌞 Here are the market directions and levels for January 27th: Market Overview: There have been no significant changes in the global markets, which are still maintaining a bullish sentiment (based on the Dow Jones). However, our local market is showing a bearish sentiment. > The Nifty is showing a long gap-down start. If this sustains, structurally, we can expect the correction to continue with some minor pullbacks. Based on the wave structure, this long gap-down could extend into the 3rd sub-wave of the correction. Typically, the 3rd wave is the longest leg of an impulse, so we can expect a prolonged correction. This is the structural sentiment. > On the other hand, the budget announcement is just a few days away, and experts are expecting high volatility. This means there is no clear direction—if the market goes down, it could recover at any point, and if it goes up, it may eventually reverse. Therefore, the sentiment is a bit difficult to predict. In light of this, we can apply a simple trading method: > as long as the 38% Fibonacci level in the minor swing holds, the correction is likely to continue in the current direction. If this level breaks, we can expect a reversal. This is just my opinion based on my limited experience. If you have any better ideas, please share them with me so we can discuss them in this community. However, all the chart structures are based on Elliott Wave theory and Fibonacci levels that we regularly update, so you can follow them without any doubts. Have a nice day!
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for January 27th: > The Nifty is showing a long gap-down start. If this sustains, structurally, we can expect the correction to continue with some minor pullbacks. Based on the wave structure, this long gap-down could extend into the 3rd sub-wave of the correction. Typically, the 3rd wave is the longest leg of an impulse, so we can expect a prolonged correction. This is the structural sentiment. > On the other hand, the budget announcement is just a few days away, and experts are expecting high volatility. This means there is no clear direction—if the market goes down, it could recover at any point, and if it goes up, it may eventually reverse. Therefore, the sentiment is a bit difficult to predict. In light of this, we can apply a simple trading method: > as long as the 38% Fibonacci level in the minor swing holds, the correction is likely to continue in the current direction. If this level breaks, we can expect a reversal.
NSE:BANKNIFTY
by Manickamtraders
Piramal Enterprises Limited (PEL) !! Ready to ride trend ?? A symmetrical chart pattern on PEL ?? From a broader perspective, the stock has been consolidating at these levels, considering the overall market structure and bearish sentiment in the Indian market and quarterly results show a decline in PEL profits. Moreover, it raises the question—how many of you have opted for loans from PEL? "KON hain ye log, Kaha se atte hain!!" Compared to other loan providers, PEL doesn’t seem to stand out as a major player in the personal loan space or offer particularly attractive deals to customers. Technical Analysis: PEL is forming a symmetrical chart pattern. An early entry could be considered around the ₹900 level. Stop Loss: 950 Rs Target : Open/Mentioned on Chart Strategy: One can take 900 PE FEB month Expiry or Short the Future. Let me know what you think about this analysis. Happy Trading!
NSE:PELShort
by Vikrant_Mighty
Possible Wave Counts on Daily Time Frame Chart of DXYMost 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...! In this study we used Elliott Wave Theory & Structures, here we have plotted possible wave counts on daily time frame chart of DXY Dollar Index, it involves multiple possibilities, and the analysis presented focuses on one potential scenario. The provided information is for educational purposes only, not trading advice. There's a risk of being completely wrong. 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. Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ 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.
TVC:DXYShort
by RK_Chaarts
Reliance Industries fall is not overIf you refer the chart of Reliance Industries, its in impluse move which is Just wave 1 of the Zig-zag and we are about to complete wave 5 after this expect A-B-C move which we can use to our advantage and make some profit. Post that one more correction to complete the 5-3-5 Zigzag and then we can see a long trend. Disclaimer: I am not SEBI registered member, these ideas are for strictly educational purpose only, please do your own analysis and take a call.
NSE:RELIANCE
by swapsachin
2
Axis Bank Downward Trend is not overAxis Bank has formed a flat correction ABC, currently we are in the last leg of the correction, where wave C is a triangle. we still have wave Z of the triangle to be complete, which I believe will be around 1000 little less. Once the triangle is over we will get a very sharp and big move in upward direction the reward which you will remember for the months to come. PS: Someone please remind me around 4th or 5th of Feb about Axis Bank. Let us all benefit from the upcoming trend once the triangle is completed. Disclaimer: This is for educational purpose only. I am not SEBI registered Member.
NSE:AXISBANK
by swapsachin
1
NLC buy above 275 for target of 307 plusLook at the NLC chart, you will see that the downside it will go to 214-210 to complete the C wave in which e-wave will reach 214-210 to complete the triangle. However there are chances of truncation and it might start moving up. The strategy is to let it move conclusively above 275 rs, post which it will reach 307 plus in matter of few days if you are impatient then you can purchase now, but also consider the downside before taking any decision. Disclaimer: I am not SEBI registered member and this idea is only for educational purpose, do your own analysis and then take a call.
NSE:NLCINDIA
by swapsachin
Fivestar Business Finance, will correction end at 669 rs ?Fivestar Business Finance has started the uptrend, but then it has to go for a small correction before it resumes it upward Journey, I see that we are in the process of completing 2nd wave. Will the correction ends at 669 or goes down a little bit beyond 669 that is the question? I would prefer to wait and watch and then take the decision when the right time comes. After all tradingview has a great Alert Indicator which indicates when a particular situation occurs. Disclaimer : This is for educational purpose only. I am not SEBI registered member, I am not authorised to give any buy or sell decision. Please do your own analysis and then take a call.
NSE:FIVESTAR
by swapsachin
#Nifty may go much lower than we imagine - ShortGood Morning, friends! 🌞📊 24 Jan 2024 Market View: 🔹 Nifty is currently trading at 23,200. 🔹 It seems likely to find support at the AVWAP of the October low. 🔹 However, if it breaks below this AVWAP level, a bearish trend may emerge. 🔹 In such a scenario, we can adopt a short position with a stop-loss above 23,473. 📉 Short Position Details: Entry: 23,200 Stop-Loss (SL): Above 23,473 Target: 22,207 Risk-to-Reward Ratio: 2.78 📌 Summary: This setup provides a favorable Risk-to-Reward ratio, making it an attractive opportunity for those comfortable with the market's direction. Keep a close eye on price action near the AVWAP level and trade cautiously! 📜 Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Please do your own research or consult with a professional financial advisor before making any trading decisions. Past performance is not indicative of future results. Trade safe! 💹✨
NSE:NIFTYShort
by tejassuthar
#Nifty directions and levels for January 23rd:Good Morning, friends! 🌞 Here are the market directions and levels for January 23rd: Market Overview: There have been no significant changes in the global markets, as they are still maintaining a bullish sentiment (based on the Dow Jones). However, our local market shows a bearish sentiment. In the previous session, both Nifty and Bank Nifty experienced high volatility again, but the two indices reacted differently. My personal opinion is that there is still a noticeable difference between the Nifty and Bank Nifty charts. For Bank Nifty, it broke the previous low yesterday, which suggests that the correctional bending sub-wave might have ended. Even if it opens with a gap-down today, we can expect some consolidation within the previous day’s range. However, Nifty still shows correctional sub-waves in progress, which could push it slightly downward. Therefore, we should approach the market cautiously. Overall, today’s market may remain range-bound. If the market moves in a single direction, trading is easier, but due to differing sentiments, traders may dominate one another, creating a tug-of-war scenario. Let’s dive into the charts for further details. Nifty Current View: According to the current structure, if the gap-down sustains and breaks the 38% mark solidly, we can expect the continuation of the correction. The targets are expected to be between 23022 and 22944 if it breaks the 38% mark. Alternate View: The alternate view suggests that if the gap-down does not sustain or if the market finds support around the 38%, we can expect some consolidation between the 38% and the upside 78% mark.
NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for January 23rd:Bank Nifty Current View: The Bank Nifty current view has two variations: > First Variation: If the gap-down sustains, it will likely consolidate within the previous day's range. In this sentiment, a correction will only be expected if it breaks the previous bottom, meaning that until the previous bottom is broken, the market bias could remain moderately bullish. > Second Variation: This is conditional; the initial market should take a solid pullback and could reject around the immediate resistance zone. If this occurs, the market will turn into a correction phase, supported by structural reasons. Alternate View: The alternate view is similar to that of Nifty. If the gap-down does not sustain or if the market finds support around the 38%, we can expect some consolidation between the 38% and the upside 61% mark. In this case, the supply zone may not be as effective.
NSE:BANKNIFTY
by Manickamtraders
Wave A of ABC Correction - may be a future triangleWave A of ABC correction seems to be over as it has reached wave iv of one higher count . Most important about corrections is their angle has to be lesser than the that of the wave it is correcting (in this case wave iii) , because its distribution slowly , unless it is wave C of a flat . Wave a marked here is almost a cliff , so I I this its wave A only . Sell on any pullback on the levels market on the chart which will be only wave B (pull back) . Note this ABC could only be wave a of a triangle in wave 4 position . It shows a long consolidation . Try to get out of it . Regards
NSE:NAUKRI
by AJAYSHARMA
#Nifty directions and levels for January 22nd, WednesdayGood Morning, friends! 🌞 Here are the market directions and levels for January 22nd, Wednesday Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones), while our local market shows a bearish sentiment. Today, the market is likely to open neutral to slightly gap-up, as the Gift Nifty indicates a +50-point positive opening. In the previous session, both Nifty and Bank Nifty experienced high volatility. Based on the structure, the market is expected to remain range-bound, even if it breaks the previous bottom, especially in Nifty. > So, if the market sustains the gap-up, we can approach it with a range-bound sentiment with a bearish bias. However, if the market begins a correction, the current correction trend is likely to continue. Let’s look at the charts for more details. Nifty Current View: The current structure suggests that if the gap-up doesn't sustain or if the market breaks the previous low after some consolidation, we can expect the correction to continue toward the levels of 22898 to 22829. Alternate View: If the gap-up sustains, we should approach it as a range-bound market. However, avoid taking long positions without confirmation. For a long position, wait for a breakout at specific levels. For example, if the market breaks the 50% level, targets could be set at 61% and 78%.
NSE:NIFTY
by Manickamtraders
5
#Banknifty directions and levels for January 22nd, WednesdayBank Nifty Current View: The current view for Bank Nifty aligns with Nifty. If the gap-up doesn't sustain or the market breaks the previous low with consolidation, we can expect the correction to continue toward the levels of 48309 to MPZ. Alternate View: If the gap-up sustains, we can approach Bank Nifty as a range-bound market as well. Traders can look for breakout entries. For instance, if the market breaks 48848, we can anticipate a move toward 49031.
NSE:BANKNIFTY
by Manickamtraders
NZDUSD: The Calm Before a Bearish StormNZDUSD has broken below the 50/20 EMA on the 4-hour timeframe chart. The price experienced a sharp decline, followed by a corrective pause that appears to form an expanded flat correction. Wave (C) completed at 0.5692 . The ATR has decreased to 0.00189 , while the ADX has dropped to 22.87 . The impulsive move is expected to occur downward. If the price breaks below wave B at 0.55870, it may reverse from the following targeted Fibonacci levels : 0.5555 (1.618) and 0.5470 (2.618). We will update further information soon.
by forextidings
1
JBMA LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (i),(ii),(iii) and (iv), which are shown as blue numbers on the daily chart. Wave (v) appears to be underway at this time. Wave (v), also known as the impulse wave, unfolding into five waves, which are illustrated in red. wave i and ii is finished and wave iii ( in red colour) will unfold in sub waves shown in black circle. Black circle wave 1 and 2 is about to finish and wave 3 (in black circle) will start. Wave levels are depicted on the chart. Level of Invalidation The invalidation level of 1388 has been identified as the start point of wave i of wave (v). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears. I'm not a registered Sebi analyst. My research is done solely for academic purposes. Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses. Regards, Dr Vineet
NSE:JBMALong
by drvineet
#Nifty directions and levels for January 21st, TuesdayGood Morning, friends! 🌞 Here are the market directions and levels for January 21st, Tuesday: Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones), while our local market shows a moderately bullish sentiment. Today, the market is likely to open with a neutral to slightly gap-up start, as the Gift Nifty indicates a +60 point positive opening. In the previous session, both Nifty and Bank Nifty had a solid pullback. According to the structure, it seems like a "flag pattern." If the market breaks the immediate resistance with a solid candle today, we can expect a further rally continuation. However, if we analyze the wave structure, it could represent the "C" leg, and also its a final leg of the pullback. So, In this scenario, if the market rejects around the immediate resistance, we can initially expect a 23% to 38% correction. A trend reversal (from bullish to bearish) will be considered only if the 38% Fibonacci level is broken. This is the basic structure. Let's look at the chart for more clarity. Both Nifty and Bank Nifty exhibit similar structural sentiments. Current View: The current view, based on Elliott Wave analysis, suggests that if the gap-up doesn't sustain or if the market faces rejection around the immediate resistance, we can expect a minimum correction of 23% to 38% in the minor swing. This is a major support level, so until the 38% mark is broken, the trend remains bullish. Conversely, if it breaks the 38%, we can consider that a trend reversal. Alternate View: The alternate view suggests that if the gap-up sustains and consolidates or breaks the immediate resistance level, then the rally will likely continue. In this case, we can consider that a flag pattern or the third wave of the new impulse.
NSE:NIFTY
by Manickamtraders
6
#Banknifty directions and levels for January 21st, Tuesday:Current View: The current view, based on Elliott Wave analysis, suggests that if the gap-up doesn't sustain or if the market faces rejection around the immediate resistance, we can expect a minimum correction of 23% to 38% in the minor swing. This is a major support level, so until the 38% mark is broken, the trend remains bullish. Conversely, if it breaks the 38%, we can consider that a trend reversal. Alternate View: The alternate view suggests that if the gap-up sustains and consolidates or breaks the immediate resistance level, then the rally will likely continue. In this case, we can consider that a flag pattern or the third wave of the new impulse.
NSE:BANKNIFTY
by Manickamtraders
FAZE3Q LONGThe Elliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv), and (v), as represented by blue numbers on the daily chart. Stock is in correction now. Wave correction will go in waves (a), (b), and (c) in blue color on the chart. Wave (a) is completed, and wave (b) is in progress. Wave (b) will go in three sub-waves (a, b, and c in red color). Wave a and b is completed and wave c is in progress.  wave c will unfold in five sub-waves (black circle) shown in the chart above. Wave 1, 2, 3, and 4 in a black circle is finished, and wave 5 will start. Wave levels are shown on the chart. Level of Invalidation Wave (a) has been identified as the invalidation level, which is 366.05. Because According to the wave rules, Wave (b) cannot cross the pricing territory of Wave (a). If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears. I am not a registered Sebi analyst. My research is strictly for scholarly interests. Before you trade or invest, please consult with your financial advisor. I am not responsible for your earnings or losses. Regards,  Dr Vineet
NSE:FAZE3QLong
by drvineet