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Elliott Wave

#Banknifty directions and levels for August 12th. In the previous session, Bank Nifty closed with consolidation after a significant gap-up. If the market breaks the previous high, then we can expect a minor rally, but not a big one. A big rally is expected only if the breakout occurs with a solid green candle and some consolidation around the immediate resistance level. However, if this doesn't happen, the market may reject at that level and continue in its current range, which is our first scenario. Alternatively, if the market initially declines, the 38% Fibonacci level will act as a key support. If the market finds support there, the range-bound movement may continue. On the other hand, if it breaks below the 38% level, we can expect the correction to continue.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for the 3rd week of August. As per the chart Bank Nifty has a range-bound structure. However, the market closed at the top of this range by the end of the week. So, if the market starts with a bullish bias, it may reach the swing high once again. This is because, as we mentioned in the previous post, if the market breaks the 50% level in the minor swing, it will lose the strength of the current trend. If this happens, it may reach the Fibonacci levels of 61% to 78% on the upside. However, there are two variations for the bullish sentiment. 1. First Variation: If the initial day's candle closes with a solid bar, then the market may continue the pullback with minor consolidation around the Fibonacci level of 61% in the upcoming sessions. 2. Second Variation: If the market faces rejection around the minor supply zone or if the week starts with a negative candle, then the range-bound market may continue further. The Bearish Variation: The bearish variation suggests that if the market potentially breaks the channel, then it may continue the correction. There are some minor levels to watch, which is typical. If the market breaks the 38% level in the minor swing, we can expect the next target to be 78%.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for the 3rd week of August.Good evening, friends! 🌺🍬 Here are the market directions for the 3rd week of August: Global Market Overview In the previous week, global markets experienced a consolidation after a sharp decline, which indicates that the market is structurally bearish. So, what about this week? My expectation is that the bearish sentiment might continue because the US market will release PPI and inflation data, which could be a key factor in determining the next direction. Nifty and Bank Nifty Last week, Nifty and Bank Nifty saw significant ups and downs, but this movement happened within a range. So, what about this week? Let's break it down. As per the chart, both Nifty and Bank Nifty have a similar range-bound structure. However, the market closed at the top of this range by the end of the week. So, if the market starts with a bullish bias, it may reach the swing high once again. This is because, as we mentioned in the previous post, if the market breaks the 50% level in the minor swing, it will lose the strength of the current trend. If this happens, it may reach the Fibonacci levels of 61% to 78% on the upside. However, there are two variations for the bullish sentiment. For Nifty: 1. First Variation: If the initial day's candle closes with a solid bar, then the market may continue the pullback with minor consolidation around the Fibonacci level of 61% in the upcoming sessions. 2. Second Variation: If the market faces rejection around the top of the channel or if the week starts with a negative candle, then the range-bound market may continue further. Why did I mention the diagonal pattern? (Second Variation:) because the previous structure also looks like an expanding diagonal, and the pullback also broke the 38% level. So, both conditions suggest a minor reversal. However, don't expect a major move because a diagonal is an accumulation pattern when it forms at the bottom of a trend, so it could take some time for the next movement. The Bearish Variation: The bearish variation suggests that if the market potentially breaks the channel, then it may continue the correction. There are some minor levels to watch, which is typical. If the market breaks the 38% level in the minor swing, we can expect the next target to be 78%. It may resemble a diagonal pattern, but there is a key difference: > that, if the correction follows this variation, the decline could be sharp and fast. > However, a diagonal typically doesn’t have much volume and usually faces rejection before the channel breakout.
NSE:NIFTY
by Manickamtraders
2
#UJJIVANSBF .......Mid to long term bullish view NSE:UJJIVANSFB As a Elliott wave practitioner I can say we are in impulsive wave. Currently 4th wave going on which is nearly to end. 4th wave support 40 or in worst case 38 5th wave target could be 72 (if not then previous high) In long term view I can say that a bullish pattern forming Which called " Cup & Handel " pattern Long term price target 110. Stock is providing a good dividend yield of 3.55%. Company is expected to give good quarter Company has delivered good profit growth of 45.0% CAGR over last 5 years.
NSE:UJJIVANSFBLong
by ladesar88
RAILTEL - AS PER FIB RETRACEMENT, CORRECTION WAVE MIGHT BE OVERHi, This idea is about Railtel Corporation of India Ltd ABOUT THE COMPANY RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Miniratna" PSE of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers TECHINCALS As per the price action, the first impulse wave took the price all the way from 337 to 615. THen the correction wave commenced which pulled back the price from 615 to 440 levels. The price point as per fib retracement is at the point of 50-61% which as per Elliot Wave theory should be the correction wave Next impulsive wave could start if the price aloses above 475 with volume support FUNDAMENTALS Market Cap ₹ 15,066 Cr. Current Price ₹ 469 High / Low ₹ 618 / 163 Stock P/E 56.4 Book Value ₹ 56.9 Dividend Yield 0.61 % ROCE 20.2 % ROE 15.2 % Face Value ₹ 10.0 Equity capital ₹ 321 Cr. No. Eq. Shares 32.1 EPS ₹ 7.99 Promoter holding 72.8 % Change in Prom Hold 0.00 % Chg in Prom Hold 3Yr 0.00 % Pledged percentage 0.00 % Market Cap to Sales 5.67 Sales growth 29.8 % PEG Ratio 3.81 EVEBITDA 27.9 Quick ratio 1.16 Trade receivables ₹ 1,268 Cr. Sales ₹ 2,658 Cr. Debt to equity 0.02 Price to book value 8.25 Free Cash Flow ₹ 347 Cr. CMP / FCF 75.8 Thanks, Stock-n-Shine
NSE:RAILTELLong
by Stock-n-Shine
DXY 1 D - ANALYSIS 10 AUG 2024 Definition: Explain what the DXY (US Dollar Index) is and how it measures the value of the US dollar against a basket of major foreign currencies. Importance: Highlight why the DXY is a crucial indicator for forex traders, investors, and economists. 2. Market Analysis Current Trends: Present recent trends in the DXY, including historical data and recent movements. Technical Analysis: Use charts and technical indicators to analyze patterns that suggest a potential decline in the DXY. Include tools like moving averages, RSI, MACD, and support/resistance levels. 3. Economic Indicators Impact of Economic Data: Discuss how economic data (like GDP growth, employment figures, and inflation rates) affects the DXY. Federal Reserve Policies: Explain how interest rate changes and monetary policy from the Federal Reserve influence the DXY. 4. Global Factors Geopolitical Events: Examine how global geopolitical events, such as trade wars, political instability, or international conflicts, can impact the DXY. Comparative Currencies: Compare the US dollar’s performance with other major currencies like the Euro, Yen, or Pound. 5. Risk Management Risk Factors: Outline potential risks involved in selling the DXY, including unexpected economic announcements or geopolitical events. Strategies: Offer strategies for managing risk when betting against the DXY, such as setting stop-loss orders and diversifying investments. 6. Case Studies Historical Examples: Provide case studies or historical examples where selling the DXY proved profitable or unprofitable. Analyze these cases to offer insights into current market conditions. 7. Expert Opinions Interviews: Feature insights from financial analysts, economists, or trading experts who can provide professional opinions on the DXY’s future. Market Sentiment: Summarize current market sentiment and how it aligns with or contrasts against your position on selling the DXY. 8. Actionable Insights Investment Strategies: Suggest specific trading strategies for those interested in selling the DXY, such as short selling, options trading, or futures contracts. Tools and Resources: Recommend tools, platforms, or resources that traders can use to track DXY movements and execute trades. 9. Conclusion Summary: Recap the key points discussed and reinforce why selling the DXY could be a profitable strategy. Charts and Graphs: Use visual aids to illustrate trends, technical analyses, and economic impacts. Infographics: Create infographics to simplify complex information and make it more accessible. Videos/Webinars: Host video analyses or webinars to provide a dynamic and engaging way to discuss DXY selling strategies.
TVC:DXY
by Greenfireforex
#sbi card.........cmp-709.80NSE:SBICARD My primary view I bullish until it's hold 700-702 level I am assuming that 1st wave completed and 3rd wave going on. Currently we are in 2nd wave (1 of 3rd) which probably end on monday then we started wave 3rd which leads price to 742. Overall if the correction has been completed ( weekly chart suggest ABCDE pattern which is almost end ) then 3rd wave target near 850. Disclaimer- I am sebi registered. This idea only for educational purpose .
NSE:SBICARDLong
by ladesar88
2
#Nifty directions and levels for August 9th.Good morning, friends! 🌞 Here are the directions and levels for August 9th. Market Overview Both global and local markets have been trading within a minor range. Today, the market may open with a gap-up, as indicated by a 250-point positive start in GIFT NIFTY. Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look: Nifty: In the previous session, Nifty experienced some minor oscillation due to the monetary policy. However, it closed within Tuesday's range. Structurally, it remains a range-bound market. > According to Elliott Wave theory, we expect three swings in this range-bound market. With two swings already completed, we are anticipating a third one. > In today’s market, after the gap-up, if it encounters resistance around the immediate resistance level, it may lead to a correction. if it happens, The corrections are expected to range between 38% to 78% of the minor swing—this is our first scenario. >In this case, if it consolidates or breaks solidly (at the 61% Fibonacci level on the upside), then the rally will likely continue. Alternatively, if the gap-up doesn’t sustain or if it rejects around the previous high, the range-bound market will likely continue. Structurally, it could form a triangle pattern. However, trading in range-bound market movements can be somewhat challenging, and premiums may also be affected.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for August 9th.Bank Nifty: Bank Nifty is also maintaining its consolidation. If the gap-up sustains and breaks the level of 50,468, then we can expect the next targets to be 50,688 and 50,823. > Here, we have the same sentiment as in Nifty: after the pullback, if it sharply rejects around the level of 50,823, the market may enter a correction phase. Targets are expected to range between 38% to 78% of the minor swing. > On the other hand, if it consolidates or breaks solidly above the level of 50,823 on the upside, then the rally will likely continue. The alternative scenario is if the gap-up doesn't sustain or if the market initially declines, then the range-bound market will likely continue.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for August 7th.Good morning, friends 🌞 Here are the directions and levels for August 7th. Market Overview The global market has been in a minor range, and our local market has a moderate bearish sentiment. Today, the market may open with a gap-up, indicated by a 200-point positive start in GIFTNIFTY. Both Nifty and BankNifty share the same range market sentiment. Let's take a closer look: Even though the previous session opened with a gap-up, it didn’t sustain, and both Nifty and BankNifty maintained their bearish bias. Today also the market may open with a minimum of 150 points positive. What about today? If this happens structurally, it could turn into a range market. Range market movements are usually difficult to predict. However, my expectation is that if the market opens with a gap-up, the 24,292 level will act as immediate resistance. If the market consolidates around there, we can expect a pullback continuation if it breaks this level, with targets expected at 24,364 up to the Fibonacci level of 61%. This is our first variation. Alternatively, if the gap-up doesn’t sustain, it may consolidate within the previous day's range. In this variation, a correction is anticipated only if it falls below the previous low.
NSE:NIFTY
by Manickamtraders
1
#Banknifty directions and levels for August 7th. Even though the previous session opened with a gap-up, it didn’t sustain,BankNifty maintained their bearish bias. Today also the market may open with a minimum of 200 points positive. What about today? If this happens structurally, it could turn into a range market. Range market movements are usually difficult to predict. However, my expectation is that if the market opens with a gap-up and breaks the 38% level solidly, we can expect the next target at 50,468. After that, if it consolidates, the pullback will continue. On the other hand, if it rejects this level, the range market will likely continue. Alternatively, if the gap-up doesn’t sustain, it may consolidate within the previous day's range. In this variation, a correction is anticipated only if it falls below the previous low.
NSE:BANKNIFTY
by Manickamtraders
Fin Nifty is Bearish - Can hit 22680 in coming days! 1:3.5 RRWhy Short Fin Nifty: Current Market Price: 23879 Fin Nifty has completed its 1-2-3-4-5 subwaves and rejected the 261.8% level (24,027) yesterday. Risky players can short at current price but it has strong support at 23,750. Once this level breaks, the price structure will change, giving us double confirmation as Ichimoku will break both the TS and KS by that time. So this entry will be safer but SL will be little big. Stop Loss: 24,056 T arget: 22,680 Risk-to-Reward Ratio: 1:3.5 Note: We always prefer futures or option selling with an edge to avoid overnight risks. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Please conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:CNXFINANCEShort
by WaveMoku
NASDAQ - Possible moves [Wave Theory]I'm not an expert of wave theory but I have an inclination towards it. Wave theory is nothing short of brilliance! NASDAQ seem to have completed its 5 waves and now following the ABC retracement wave. NASDAQ:NDX should now move to its B wave and show some bounce. It should be followed by further downwards retracement during C wave. Trigger for C wave my be the FOMC meeting in Sept. Let's see. Disclaimer: I'm sharing my analysis. Wave theory is not my strong forte. Do your own research & analysis before taking any action.
NASDAQ:NDX
by anuragcoma15
#Nifty directions and levels for August 6th.Good morning, friends 🌞 Here are the directions and levels for August 6th. Market Overview The global market experienced a pullback, but sentiment remains bearish, and our local market also has the bearish sentiment. Today, the market may open with a gap-up, indicated by a 150-point positive start in GIFTNIFTY. Both Nifty and BankNifty are reflecting the same sentiment. Let's take a closer look: 1.Basic Structure: Nifty and BankNifty both fell drastically in the previous session. Whenever the market takes a sharp movement, it will take some consolidation afterward. How will it work in today's session? We can look at that. > As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 23801. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for August 6th.1.Basic Structure: As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 49439. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for the August 2nd week.Good evening, friends! 🌺🍬 Here are the market directions for the second week of August: Global and Local Market Overview Last week, both global and local markets experienced significant volatility, closing with a negative candle. On the weekly chart, the market shows a moderately bullish trend, but the 1-hour chart suggests a bearish sentiment. For this week, I anticipate a moderately bearish trend. Let's delve into the details. Nifty: Current View: - Nifty has completed the 5 sub-waves within the 3rd wave extension. Following this, a three-wave corrective pattern is expected. - The declines over the past two days, along with negative global market closures on Friday, suggest a bearish start on Monday. - If the market opens negatively, the 50% Fibonacci retracement level should act as strong support. If support holds, a 38% pullback is likely. - This pullback could be the 2nd sub-wave of the correction. If the market rejects this pullback and breaks the previous low, the correction will likely continue, targeting levels around 24365 to 78%. Alternate View: The alternate variation is a bit more complicated, but I will try to explain it simply. - If the initial pullback breaks the 38% Fibonacci level in the minor swing, it could reach the 61% and 78% retracement levels. - Usually, the one and two formations are very difficult to predict in the Elliott Wave. - Because the 2nd wave targets allow 90% of the 1st wave. - So, I use a common Fibonacci method: whenever the market breaks the Fibonacci level of 38%, it most often reaches 61% to 78%. - After that pullback, if it sustains or breaks the fib level 78%, then it may continue the rally further to the level of 25143 to 25209 (extension variation). - Or if it faces rejection at either one of the resistance levels (61% or 78%), it could turn into a correction. - However, we could take additional confirmation for the reversal that if both the EMA 20 and the Fibonacci level of 38% in the minor swing break, we can expect a reversal.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for the August 2nd week.Bank Nifty: Current View: Structurally, it's a range market, because whenever the market enters into double and triple corrections, it forms huge ups and downs within the range. It's very difficult to predict the proper direction. However, my expectation is the same as for Nifty. Let's look at that. - If Monday's market opens negatively, it could find support around the 51020 level or the 78% Fibonacci retracement. - If this happens, we can expect a 23% to 38% pullback in the minor swing. It's a minor pullback only. - after that, if it is rejected there(23 or 38% in the minor swing), then the correction will continue if it breaks the previous low again. This is our first variation. Alternate View: - If the initial bounce breaks the Fibonacci level of 38% in the minor swing, it could reach the next target of 61% and 78%. These are usual range market targets. - After that it faces rejection there (around 61% or 78%), then the range market will likely continue. - However, we could use the same reversal confirmations here as well(.EMA 20 and the Fibonacci level of 38% breakout) - Alternatively, if it sustains or breaks the level of 78% on the upside, then the pullback will likely continue to the level of 52526 and 52694.
NSE:BANKNIFTY
by Manickamtraders