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Elliott Wave

Can NIFTY Regain Its Balance or Will It Plummet Further?Timeframe: 4h After reaching a peak of 26,277 , the NSE NIFTY has begun to decline within a downward parallel channel. The Elliott wave structure can be identified as (W) – (X) – (Y) , where wave (X) peaked at 24,867 , followed by a downward movement for the final wave (Y). The price has fallen below the 20 , 50 , 100 , and 200 EMA levels, with an ATR of 166.36 . The correction has several key levels to consider: At 100% retracement of wave (W) at 21,962 At 100% retracement of wave (a) at 22,827 At the lower boundary of the corrective channel Bearish sentiment is currently stronger than buyer demand. A reversal may occur either after a breakout from the parallel channel or at the lower boundary of the channel. This is possible as long as the swing low of 21,283 remains intact. We will update further information soon.
NSE:NIFTY
by forextidings
1
Reliance Industries ltd - Finally sign of reversal!The current price action suggests that the market has reached a potential bottom, characterized by a reversal from a previous downtrend. This shift is confirmed as the price breaks upwards, moving decisively past a phase of consolidation or uncertainty. The Diamond Bottom pattern , a notable reversal formation, typically emerges after a sustained downtrend. Initially, the price action expands, forming higher highs and lower lows, creating a broad, widening shape. This phase indicates increased volatility and uncertainty in the market. As the pattern progresses, the trading range begins to contract, signifying a shift in market sentiment. The highs cease to climb, peaking out, while the lows start to rise, indicating a potential buildup of bullish momentum. The critical point in this pattern is the breakout above the narrowing boundary lines of the diamond. This upward breakout serves as a strong signal of a trend reversal, marking the transition from a downtrend to a new upward trajectory. Such a breakout often leads to a sustained bullish trend, supported by renewed buying interest and positive market sentiment. This reversal can be a significant opportunity for traders to capitalize on the shift in market direction. Other Positive Things [ b]ABC pattern seems to be complete as there is divergence in MACD , after which price to move at-least min 38.2% to 61.8% of Fibo levels DMI in verge of moving positive direction PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:RELIANCE
by hardeepssethi
Trent!! Zudio, bas ab kitne dukan khologe?Trent Ltd is engaged in retailing a wide range of products including apparels, footwear, accessories, toys, games, food, grocery, and non-food items through various retail formats and concepts. Technical Analysis: A bearish pattern has been identified in Trent Ltd's stock. The trend has shifted from Higher Highs and Higher Lows (HH-HL) to Lower Lows (LL) and Higher Lows (HL) on the weekly time frame, indicating a potential change in trend. This suggests a possible significant decline from the current levels. Entry : 6935 Target : Mentioned Stop Loss : 7576 Let me know your thoughts on my analysis and follow for more chart insights.
NSE:TRENTShort
by Vikrant_Mighty
KPIT Technologies in last leg of wave 5I am closely following KPIT for quite a while. If the label wave counts are correct then expect KPIT to fall further. As per my analysis its in the last leg of correction which is wave 5 of wave Y. Now wave 5 can be a impulse or simply an ending triangle. Once the correction is over expect a quick and sharp move towards 1900. If it moves sharply above 1570 by mid of next week, my count is wrong and need to revise it. Note: This information is only for educational purposes . This is not an investment or trading advice. I am not SEBI registered member. please do your own analysis and decide.
NSE:KPITTECH
by swapsachin
Havells India to complete complex correctionHavells India to soon complete complex correction (W-X-Y). right now we are in the last part of the wave Y. Possibilites: 1) Wave Y can be (A-B-C) correction in which case we are almost done and ready to move to impulsive structure 2) Wave Y can be (1-2-3-4-5) in which case we are in wave 4 and will take some more days to complete and then expect wave 5 to unfold in that case we will be dropping to 1454-1455. What to do? Its just wait and watch situation before we see any conclusive move. Disclaimer: I am not SEBI registered member and this idea is only for educational purposes. Please do your own analysis and decide to buy/sell at your own risk
NSE:HAVELLS
by swapsachin
Bank Nifty - Is this A Rising Wedge from 47898 As discussed early morning .... 49000 was our key & psychological level ... Index dropped & came close to 48500-48600 zone Falling From 49000 Level Support Zone 48500-48600 Makar Sankranti marks the Sun's transition into Capricorn and the beginning of an auspicious period. Historically, equity markets turn optimistic post-Makar Sankranti, driven by cultural sentiment and Budget expectations. Will Budget 2025 keep the trend alive? 🌞 This comes after a 26-day fall in major benchmark indices, which started on 5th Dec 2024. In the last two days, the index surged from 47,898 to 49,000. However, during the first half of today's session (15th Jan 2025), it fell below 49,000, hitting a low of 48,522 as shown in the snapshots
NSE:BANKNIFTYLong
by WaveTalks
3
#Nifty directions and levels for January 14th, Tuesday:Good Morning, friends! 🌞 Here are the market directions and levels for January 14th, Tuesday: Market Overview: The global market is showing bearish sentiment (based on the Dow Jones), and our local market is reflecting a similar outlook. Today, the market is likely to open with a gap-up start, as the Gift Nifty indicates a +130 point positive opening. > In the previous session, the market moved violently, but the evening session in the US market saw a solid pullback. Structurally, this happened in a bearish market, so it still seems to be in a bearish trend. However, this pullback may reduce the momentum. So, my opinion is: > If the gap-up sustains, we can expect a 50% to 61% pullback in the minor swing. On the other hand, if it doesn’t sustain, then it could consolidate between the previous low and today’s opening price. This is the basic structure. Let’s look at the chart. Both Nifty and Bank Nifty have the same structural sentiment. Current View: The current view, based on the structure, is that as per the long correction, this kind of gap-up might not sustain. > If the initial market declines, it could consolidate between the previous low and today’s opening price, or to the 38% resistance level. > After that, if it breaks the previous low, then the correction will likely continue. Alternate View: The alternate view says: > If the gap-up sustains or if it breaks the major resistance at 38% with a solid candle, then it could reach a minimum of 50% to 61% in the minor swing.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for January 14th, Tuesday:Current View: The current view, based on the structure, is that as per the long correction, this kind of gap-up might not sustain. > If the initial market declines, it could consolidate between the previous low and today’s opening price, or to the 38% resistance level. > After that, if it breaks the previous low, then the correction will likely continue. Alternate View: The alternate view says: > If the gap-up sustains or if it breaks the major resistance at 38% with a solid candle, then it could reach a minimum of 50% to 61% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
Birlasoft Ltd : Ready for a BreakoutBirlasoft Ltd is a company engaged in computer programming, consultancy, and related activities. It provides software development and IT consulting services. Pro: Almost debt-free Good profit growth of 18.2% CAGR over the last 5 years Healthy dividend payout of 28.3% Technical Analysis: \ The stock is forming a Descending triangle pattern , indicating a potential breakout. Volume is also building up from the last swing low. Expecting a good profit for the upcoming quarters Stop Loss of 25 points with a target of 350 ++ points. One can consider this stock for a shorter period with a target of 600 to 605.
NSE:BSOFTLong
by Vikrant_Mighty
3
Triple Top Chart Pattern IN BANK NIFTY ? Triple Top in Bank Nifty? Please observe carefully. Upon broadly looking at Bank Nifty and its components, such as HDFC, ICICI Bank, SBI, IndusInd Bank, Axis Bank, and Other PSUs etc.. it is evident that many have begun forming lower lows or transitioning from an uptrend to downtrend. This indicates a bearish structure. By observing Bank Nifty closely and considering the mentioned points and levels, an early Entry for shorting @ 50900 level. If the price rebounds to 51275, it presents an opportunity to add more quantity. Most of the levels are mentioned in the chart. Please refer to it and share your feedback in the comments. If you disagree, please feel free to ignore.
NSE:BANKNIFTYShort
by Vikrant_Mighty
3
Cipla correction will be over by 31st of JanCipla is in last leg of correction of expanding triangle, where it will complete wave e and so thus the Wave C of the Zig-zag at 1372-1371 Possibilities: 1) Cipla's correction will be over by 31st Jan if it completes leg e (1372-1371) 2) Chances are there might be wave e truncation and we will start seeing the trend change, which will be uptrend 3)wave e might slightly overthrow beyond the lower support of the triangle. (around 1365-1368 max to max) All in all its a wait and watch situation for few more days how the wave e unfolds. Disclaimer. I am not the SEBI registered member. This idea is only for educational purposes, if you want to take a trade do your own analysis and decide.
NSE:CIPLA
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
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
Navinfluorine Looks Good!NSE:NAVINFLUOR The price appears to have found a bottom, signaling a potential reversal as it breaks upward following a phase of consolidation or indecision. The Diamond Bottom pattern typically forms during a downtrend, where prices initially create higher highs and lower lows, forming a broadening structure. Over time, the trading range narrows as the highs peak and the lows begin trending upward. A decisive upward breakout from the diamond's boundary confirms the reversal, marking the transition to a new uptrend. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NAVINFLUOR
by hardeepssethi
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
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
#Nifty directions and levels for January 9th, Thursday:Good Morning, friends! 🌞 Here are the market directions and levels for January 9th, Thursday: Market Overview: The global market continues to maintain a moderately bearish sentiment (based on the Dow Jones), and our local market is reflecting a similar outlook. Today, the market is likely to open with a neutral to slightly gap-down start, as the Gift Nifty indicates a -40 point negative opening. In the previous session, both Nifty and Bank Nifty first half fell drastically, and the second half took a solid pullback. This structure and sentiment suggest an unclear direction for the current market, so we should approach this a little bit conservatively. Let’s look at the charts. Bullish View: The bullish view indicates that even if the market opens with a gap-down, it could take a minor pullback. If this happens, the immediate resistance could be the pullback target. However, until it breaks the immediate resistance 23761, the market could consolidate between 23761 and 23546. If it breaks the immediate resistance, we can expect pullback continuation. Bearish View: This is similar to the first one, meaning initially we can expect a range-bound market. If it breaks the bottom of the range, we can expect a continuation of the correction. This is today's basic structure.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for January 9th, Thursday:Bullish View: The bullish view indicates that even if the market opens with a gap-down, it could take a minor pullback. If this happens, the immediate resistance could be the pullback target. However, until it breaks the immediate resistance 38%, the market could consolidate between 38% and 49522. If it breaks the immediate resistance, we can expect pullback continuation. Bearish View: This is similar to the first one, meaning initially we can expect a range-bound market. If it breaks the bottom of the range, we can expect a continuation of the correction. This is today's basic structure.
NSE:BANKNIFTY
by Manickamtraders