Black Friday saleUp to 70% OFF

Elliott Wave

#Banknifty directions and levels for July 10th.BankNifty has a different structure. There hasn't been as much of a pullback compared to Nifty, so we can follow the same sentiment as the previous day. If the market pulls back and breaks the previous high, we can expect further continuation. Here also, structure is important. If the pullback has a solid structure, we can expect pullback continuation with minor consolidations around the supply zone. If it has less volume, then the supply zone will act as a solid resistance, and if it rejects there, it may fall by a minimum of 38 to 61%. The alternate variation suggests that if the initial market declines, we can expect the level of swing low to be 52146. After that, if it finds support there, we can expect a range market. On the other hand, if it breaks the demand zone, then the correction may continue further.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for July 10th.Good morning, friends! 🌺🍬 Here are the directions for July 10th: There are no significant changes in the global and local markets, both of which are showing a moderately bullish trend. However, today the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 10 points (as of 8:00 AM). Nifty has broken its all-time high once again in the previous session. Structurally, if the market breaks the previous high, then the rally will likely continue. However, breakout structures are important. In the last session, the market moved in a grinding manner, so if the market continues with that same grinding momentum, we can't expect much of a rally. If the market rejects at either 24464 or 24495, it may fall by a minimum of 38 to 61%. On the other hand, if it breaks the previous high with a solid candle structure or consolidates around the immediate resistance level, we can expect a solid rally further. This is our first variation. The alternate variation suggests that if the initial market declines, we can expect a 38 to 61% minor retracement. After that, if it finds support there, we can expect a range market. If it breaks the 61% Fibonacci level, then the correction may continue further.
NSE:NIFTY
by Manickamtraders
3
Nifty Short Swing Trade 1:3.5 Risk-Reward RatioIchimoku TS KS broke in 15 mins and once it breaks the cloud and price structure, we will get the confirmation. We have shared our higher time frame view earlier today - please check: Entry : 24280 (in case of gap down opening below this level, wait for a small pullback near TS in 5 mins) Stop Loss : 24417 Target : 23770 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:NIFTYShort
by WaveMoku
6
#Banknifty directions and levels for July 9th.Banknifty's structure is slightly different from Nifty, but it also indicates a range-bound market. If the market initially corrects, it may reach a minimum of 52233 to the demand zone. After that, if it finds support there, we can expect a minimum of a 38% bounce back in the minor swing. On the other hand, if it breaks the demand zone, the correction may likely continue. Alternatively, if the market initially pulls back, we can expect it to reach 52629 to 52796 with minor consolidation. Structurally, it could be an expanding flat. So, if it rejects around the supply zone, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for July 9th.Good morning, friends! 🌺🍬 Here are the directions for July 9th: There are no significant changes in the global and local markets, both of which are showing a moderately bullish trend. However, today the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 10 points (as of 8:00 AM). Nifty and Banknifty both have a range-bound structure, so today may continue in this manner. Let's check them one by one. For Nifty, there were no big changes in the previous session, and it is still within the range. Today, GiftNifty is showing a neutral start, so if the market declines initially, we can expect it to reach a minimum of 24243 to 24210, both minor support levels. If the market finds support there, we can expect the range to continue. On the other hand, if it breaks below these levels, it may fall further to 24168, which is a 78% retracement. This is our first variation. Alternatively, if the market initially pulls back, we can expect it to reach 24401, 24431, and 24464 with minor consolidation.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for July 8thGood morning, friends! 🌺🍬 Here are the directions for July 8th: The global market has a moderately bullish sentiment on the Dow Jones. Our local markets are showing a moderately bullish sentiment as well. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points (as of 8:00 AM). Nifty had a solid pullback even though it opened with a gap-down. If you look at the structure, it is showing a range market, and GiftNifty also indicates that. So, the first scenario is if the market opens with a gap-down and sustains, we can expect a minimum of 24,266 to the demand zone. Structurally, it may consolidate over there, but by the end of the day, it might fall further. Alternatively, if the initial market takes a pullback, then it may reach a minimum of the swing high at 24,431 and 24,464 with minor consolidations. Here is one more thing, and this is my personal opinion: I think the market might take a range-bound structure until the budget, similar to how the market behaves before election results. This means one day it might take a bullish bias, then another one or two days it may go bearish, and then again it may take a bullish bias. Experts are expecting this pattern.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for July 8thThe Bank Nifty structure differs from Nifty, but the sentiment is the same. So, if the market opens with a gap-down and sustains, we can expect a minimum of 52,511 to 52,385. After that, if it consolidates or breaks, then the correction will likely continue, and we can expect the next target to be the swing low to the minor demand zone. On the other hand, if it rejects around 52,385, then we can expect a range market, meaning the market may reach the previous high again. Alternatively, if the initial market takes a pullback, then it may reach a minimum of 52,765 to 61% with minor consolidations.
NSE:BANKNIFTY
by Manickamtraders
Globus Spirits Wave Counting and Next Targets 1700 and 2350!Here is why we are super bullish on Globus Spirits: 1. This stock has corrected deeply from the top (61.8% Fib). 2. Falling wedge pattern (proper buying angle). 3. Hidden bullish divergence. 4. Wave analysis: The stock has completed Waves A and B, and is now ready for Wave C. 5. Ichimoku turning positive. We see great risk-to-reward in this stock. It has the potential to hit our targets and could rally even further. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:GLOBUSSPRLong
by WaveMoku
#Nifty levels and direction for July 5th.Good morning, friends! 🌺🍬 Here are the directions for July 5th: The global market had an oscillation but continues to range based on the Dow Jones. Our local markets are showing a moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 60 points (as of 8:00 AM). Nifty and Bank Nifty both have the same sentiment. They have been moving in consolidation. Let's look at this. Yesterday, Nifty reached a new high but did not sustain it. Structurally, there hasn't been a significant correction, as indicated by the global market trends. Therefore, if the market opens with a gap-down today, it may find support at the immediate support level. If this occurs, the consolidation range is likely to continue. This is our first scenario. On the other hand, if it doesn't find support there or if it consolidates a little around the support, then we can expect the correction to continue.
NSE:NIFTY
by Manickamtraders
Bull Run Over? Will Nifty Return to 19K? | Nifty50 Wave AnalysisWave has already shared the Nifty wave counting (2020-24) earlier. Please refer to the following links: Nifty Elliott Wave Analysis 2020-24 With Subordinates Counting Strong Wave 5th is Happening: Nifty Wave Analysis in DTF The big wave 5th of the impulse, which started from the 2020 COVID bottom, has hit 261.8%, and we have to go for a degree correction. Three possibilities: 1. Rally Continues : Wave 5th can go in extension further if Nifty can sustain weekly candles above 24,127. It can hit 26,000, but the possibilities are very low due to many factors like divergences, Ichimoku gaps, Yearly CPR etc. 2. Time-wise Correction: Nifty can stay in a big range (4,000-5,000 points) for one or two years. Who can benefit from this? Option sellers, for sure. 3. Price-wise Correction: Nifty can see a sharp fall to the demand zones we mentioned. Who can benefit from this? Option buyers, directional options and future sellers. Note: Edge is compulsory for any trades to avoid unexpected events since it's going to be a positional trade. Entry Points: Current Market Price is 24,302, and a 1-hour candle close below 24,170 is our short entry. Stop Loss: The safest SL is 24,610, but if this SL is too big for swing/intraday traders, they can keep the stop loss above 24,450. Targets: We have mentioned three demand zones in the chart based on Fibonacci retracement: First Demand Zone: 22,000-22,500 Second Demand Zone: 20,030-20,960 Third Demand Zone: 18,000-18,500
NSE:NIFTYShort
by WaveMoku
2
#Nifty directions and levels for July 4th.Good morning, friends! 🌺🍬 Here are the directions for July 4th: The global market continues to range based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a gap-up start, as indicated by GiftNifty, which shows an increase of 70 points (as of 8:00 AM). Nifty and Bank Nifty both have the same sentiment. Let's look at this. Once again, Nifty broke its all-time high yesterday, but the market couldn't move that much and moved into consolidation in the previous session. As usual, the consolidation may continue the trend. GiftNifty also indicates that, but the structure suggests that today the market may also take consolidation even if it opens with a gap-up. This is our first variation: That's if the market rejects around the immediate resistance or if the gap-up doesn't sustain, then we can expect a 23% to 38% retracement in the minor swing. After that, if it finds support at either the 23% or 38% levels, then we can expect consolidation followed by a rally continuation. A correction will occur only if it breaks the 38% Fibonacci level. If it breaks, we can expect the next targets to be 50% and 78%.
NSE:NIFTY
by Manickamtraders
3
#Banknifty directions and levels for July 4th.Bank Nifty has the bullish sentiment and made a new high in the previous session. If you look at the structure, you can see many patterns there, such as the flag pattern, cup & handle pattern, and cypher pattern. But here also, the market suggests that if it rejects around the immediate resistance or if the gap-up doesn't sustain, then we can expect a 23% to 38% retracement in the minor swing. After that, if it finds support at either the 23% or 38% levels, then we can expect consolidation followed by a rally continuation. A correction will occur only if it breaks the 38% Fibonacci level. If it breaks, we can expect the next targets to be 50% and 78%. Alternatively, if the gap-up sustains or if it consolidates around the immediate resistance level, then the rally will continue further.
NSE:BANKNIFTY
by Manickamtraders
Where is Nifty 50 Headed Next? Is the journey coming to an end? Date: 3rd July 2024 Nifty Elliot Wave Analysis - Daily Time Frame General Trend: Since March 2023, Nifty 50 has surged in a remarkable uptrend, skyrocketing from around 17,000 to an impressive 24,300—a spectacular leap of 7,300 points. So, has Nifty 50 reached its limit? Is the journey coming to an end? Here is our previous analysis, which we posted on June 18th, and we are still using the same wave count. Ichimoku Cloud: Applying the Ichimoku cloud to the chart, we see that Nifty 50 is trending above the Monthly, Weekly, Daily, and Hourly clouds. This suggests that Nifty 50 still has more ground to cover. No sign of reversal yet in Ichimoku and Price action. Elliott Wave Analysis: Applying Elliott wave analysis to the entire leg of Nifty 50’s journey from March 2023 suggests that we are currently in subwave 3 of Wave 5. The Wave 5th has already completed its minimum target at 127% (23,898) and is now looking to hit 161.8% (24,600). If this is surpassed, we could see 25,000+ which corresponds to the 200% Fibonacci ratio. The Nifty trend will change only if the daily candle closes below 23,898. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTYLong
by WaveMoku
2
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5. Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3). HDFC Bank & Bank Nifty: HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level. We shared the HDFC Bank analysis a few weeks ago; please check the link below. Buy Entry Points: Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku. Exit Points: We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here. Stop Loss: 100-150 points below the wave 4 low point. We will update once we get confirmation. The risk-to-reward ratio will be great because wave 5 is expected to cross 53K. Note: This trade is not active yet. Confirmation is always good for entry and exit. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
#Nifty directions and levels for July 3rd.Good morning, friends! 🌺🍬 Here are the directions for July 3rd: The global market continues to range based on the Dow Jones. Our local markets are showing moderately bullish sentiment. However, today, the market may open with a gap-up start, as indicated by GiftNifty, which shows an increase of 80 points (as of 8:00 AM). Yesterday also, Nifty performed slightly better than Banknifty, and their structures also differ slightly. Let's look at each one individually. > Nifty was rejected around its all-time high in yesterday's session. Today, GiftNifty is showing a gap-up start, so the market might break the all-time high once again today. > But if you ask if we can expect a sharp rally if the market breaks the all-time high, structurally the probability is less. > The wave suggests that if the gap-up sustains, we can expect a diagonal pattern. This means if the market rejects around the immediate resistance level, it could retrace a maximum of 38% to 61%, but it won't break the previous day's low. This is our first variation. > In this variation, the rally continuation will occur only if it breaks the supply zone with minor consolidation. Alternatively, if the gap-up doesn't sustain or if the initial market takes a sharp decline, we can expect a range-bound market between the past two trading session ranges.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for July 3rd.> BankNifty is totally different from Nifty. Today, the market also indicates a range-bound movement. We can expect the next movement only if it breaks the current range. > If the market breaks the level of 52340 on the upside, we can expect a rally. On the other hand, if it breaks the demand zone on the downside, we can expect a continuation of the correction. This is the basic structure. Alternatively, if it doesn't break either the upside resistance or the downside demand zone, it will remain in a range-bound market.
NSE:BANKNIFTY
by Manickamtraders
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5. Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3). HDFC Bank & Bank Nifty: HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level. We shared the HDFC Bank analysis a few weeks ago; please check the link below. [ Link to HDFC Bank Analysis ] Buy Entry Points: Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku. Exit Points: We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here and in our Telegram group: t.me Stop Loss: 100-150 points below the wave 4 low point. We will update once we get confirmation. The risk-to-reward ratio will be great because wave 5 is expected to cross 53K. Note: This trade is not active yet. Confirmation is always good for entry and exit. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
1
Bank Nifty 15 Mins Analysis - We're short again but why? Hello traders, Hope you all captured the down move we shared a couple of days ago. We are short again after a pullback today(please refer our today's post), and we have explained the corrective wave count (WXYXZ) in this chart, so please have a look. The price is rejecting 61.8% of previous swing highs, and we expect it to continue the downtrend tomorrow(could be a good trending day) Expected Targets: 52,032 51,933 51,863 Stop Loss: 52850 (If the stop loss is too big for you, then please set a smaller stop above 52,720 (based on a 15-minute candle close, not a spike). Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYShort
by WaveMoku
10
Intraday Trade Setup For Nifty 1st JulyTime 7:56 AM 1st July 2024 Reasons for Shorting Nifty today: 1. Wave Analysis - Shorting based on wave counting 2. Ichimoku - Given a sell signal in 15min TF 3. Broke Support Trendlines 4. Risk to Reward in great 5. MACD bearish divergence in 1hr TF Options Selling: ATM CE selling with OTM CE edge is best for this trade. (or future sell with edge) We wait for the entry if it doesn't trigger then we avoid the trade. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTYShort
by WaveMoku
#Nifty Directions and level for July 2nd.Good morning, friends! 🌺🍬 Here are the directions for July 2nd: The global market is still showing a slightly negative sentiment based on the Dow Jones. Our local markets are also showing moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows a increase of 50 points (as of 8:00 AM). Nifty has performed slightly better than Banknifty, and their structures also differ slightly. Let's look at each one by one. Nifty has reached near its all-time high, so it might face rejection there. However, if the market sustains the gap-up, it may go further. Here’s our first scenario: that if the market opens with a gap-up and breaks the previous high, the minor supply zone will act as resistance. If the market consolidates or breaks it, we can expect the rally to continue. Alternatively, if the market rejects at the supply zone or if the gap-up doesn't sustain, we can expect an initial 38% correction. after that If it breaks this level, the correction may continue further. On the other hand, if it doesn't break the 38% Fibonacci level, the market may maintain a bullish bias.
NSE:NIFTY
by Manickamtraders