#Nifty directions and levels for December 23rd.Good morning, friends! 🌞
Here are the market directions and levels for December 23rd.
Market Overview:
The global market is showing a moderately bearish sentiment due to the solid pullback in the previous session (based on the Dow Jones). Meanwhile, our local market is displaying a bearish trend. Today, the market may open with a gap-up start, as the Gift Nifty indicates a 170-point positive sentiment.
In the previous session, the US market had a strong pullback, which might reflect in our market today. Gift Nifty is also pointing toward this possibility. So, how should we approach this?
If the gap-up sustains, we could interpret this as a sub-wave 4. Usually, the 4th wave is characterized by a three-wave structure, which we refer to as a consolidation wave. Therefore, we can expect some consolidation between the previous low and the 38% mark. This is the basic structure; let's look at it on the chart.
Both Nifty and Bank Nifty are currently showing the same structural sentiment.
Current View:
The current view suggests that if the market opens with a gap-up of less than 100 points and then declines initially, we can expect a slight further correction due to some sub-waves bending. However, if this occurs, the minor demand zone will act as strong support.
Alternate View:
The alternate view suggests that if the gap-up opens with more than 150 points and sustains, then the pullback could continue to the 38% level, with some consolidation as we discussed. This pullback could be interpreted as a 4th wave.
Elliott Wave
#Banknifty directions and levels for December 23rd.Current View:
The current view suggests that if the market opens with a gap-up of less than 200 points and then declines initially, we can expect a slight further correction due to some sub-waves bending. However, if this occurs, the minor demand zone will act as strong support.
Alternate View:
The alternate view suggests that if the gap-up opens with more than 300 points and sustains, then the pullback could continue to the 38% level, with some consolidation as we discussed. This pullback could be interpreted as a 4th wave.
NIFTY PREDICTIONS.... BEARISH OUTLOOK FOR DECEMBER 2024. I'll try explaining my Nifty chart analysis through Elliot waves.
Nifty, again, is likely correcting in a 5-wave pattern. After reaching an ATH of 24274, Nifty's downside waves/correction started towards the end of September.
Wave (1) moved in a 5-wave pattern and ended around 24700, as marked in the chart.
Wave (2) had a zig-zag pattern and ended around 25200.
Wave (3) also had a 5-wave pattern, falling 1.23 times wave 1 to end around 23300 levels.
Wave (4)- Nifty is currently in this wave, which is probably in a zig-zag pattern. Wave (4), as usual, notoriously has violent moves on either side, giving challenges to traders.
Probable levels of termination of wave (4) are 24800 {0.5 of waves (1-3)}and 25150 {0.618 of waves (1-3).
Wave (5) - Assuming wave (4) termination around 25150, we can expect a big correction in Nifty to 22700 levels. This wave (5) alone can cause approximately 10% fall in Nifty.
Remember,
THE MARKET IS ALWAYS RIGHT.
Trade with appropriate stoploss.
Possible Wave counts of TSLA Hourly & DailyDaily Time Frame Chart
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.
Most 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...!
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.
#Banknifty directions and levels for December 16th.Bank Nifty Current View:
This also looks like the Nifty sentiment; if the market takes a pullback after the gap-down start, we can expect the rally to continue. However, confirmation should be considered from an effective break of the MSZ mark. This is the basic structure; until this zone is broken, we can expect minor consolidation.
Alternate View:
The alternate view suggests that if the market sustains the gap-down and breaks the 53450 mark, it could reach a minimum of 23% to a maximum of 38%. Structurally, it won’t break 38%. However, if it does break, then it will reach the 50% and 78% Fibonacci levels in the recent swing. Simply put, if you find a three-wave structure while it reaches this level, we can expect a bounce back, which indicates a bullish structure. However, if it reaches the 38% level in a straight line, it will likely continue further once it breaks the 38% mark.
Just a random Elliot Wave analysisJust a random Elliot Wave analysis of BTCUSDT on the 1-hour timeframe. Key levels are highlighted: resistance at $99,618 and support zones at $94,531 and $91,247, with a major support at $82,800. The chart depicts completed impulse (1-5) and corrective (ABC) waves, followed by another wave cycle in progress. The EMA (21) aids trend direction. Watch for potential reactions near the support levels as the price approaches wave 5.
Short trade Ethereum.A trade idea based on my trading knowledge and market behavor.
I'm anticipation a retest on what what the double tiop previous support at 3480-3640 area.
Once we test it as resistance we will start a last wave downwards toward 3000-3100 area where I will anticipate we will start to go sideways untill the end of year.
#Banknifty directions and levels for December 20th.Good morning, friends! 🌞
Here are the market directions and levels for December 20th.
Market Overview:
Both the global and local markets are maintaining a bearish sentiment. Today, the market may open with a slight gap-down start, as the Nifty is indicating a negative 80 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty experienced a minor pullback after the long gap-down. Although the structure remains bearish, we can expect a continuation only if it breaks the previous day's low with solid movement. If this happens, we can anticipate a target of 78% in the minor swing.
On the other hand, if the market initially pulls back without breaking yesterday's low, or if it finds support at the immediate support level with gradual movements, then we can expect a pullback of 23% to 38%. This is the basic structure. Otherwise, we can follow the same sentiment that we discussed in the previous session, as nothing has changed.
#Nifty directions and levels for December 20th.Good morning, friends! 🌞
Here are the market directions and levels for December 20th.
Market Overview:
Both the global and local markets are maintaining a bearish sentiment. Today, the market may open with a slight gap-down start, as the Nifty is indicating a negative 80 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty experienced a minor pullback after the long gap-down. Although the structure remains bearish, we can expect a continuation only if it breaks the previous day's low with solid movement. If this happens, we can anticipate a target of 78% in the minor swing.
On the other hand, if the market initially pulls back without breaking yesterday's low, or if it finds support at the immediate support level with gradual movements, then we can expect a pullback of 23% to 38%. This is the basic structure. Otherwise, we can follow the same sentiment that we discussed in the previous session, as nothing has changed.
Nifty Correction for today, tomorrow?This is quick analysis only for today and tomorrow (10th and 11th Dec). We are using 15 Mins Time Frame.
- Seems on lower Time Frames of 15/5 Mins, we have Nifty going through Distribution zone and in complex corrections as per Elliott Wave model
- As marked here, we "may" be in middle of small sub c-wave formation on 15 Mins TF. If spot price ditches PDL (Previous Day Low) and also then sub a-wave downside, then we are in good confirmation that market is going downside to complete sub c-wave today/tomorrow. It has to surpass 24550-24500 though
- If it goes down, we may have a small demand zone at 24400-24350 (marked in chart as green zone) where price may either consolidate and go upwards or distribute and try to go downside. In short, this will be our checkpoint of next steps after the downside view execution
#Banknifty directions and levels for December 19th.Good morning, friends! 🌞
Here are the market directions and levels for December 19th.
Market Overview:
After the Fed rate cut, the Dow Jones fell drastically and ended with a negative change of 2.5%. This also affected the Nifty. Therefore, today the market may open with a significant gap-down, indicating that the Nifty is expected to start 330 points lower.
The global sentiment suggests there is a bearish bias. If you look at the charts from a broader perspective, the Nifty is showing a negative trend, while the Bank Nifty appears to be range-bound. Thus, both indices are displaying slightly different biases. However, my expectation is that, even though the Bank Nifty has a range-bound structure, it could reach a minimum correction of 78% in the minor swing. More or less, the current trend indicates a negative outlook. If the gap-down sustains today, we can expect a continuation of the correction with some consolidation. A reversal could be considered if there is a breakout at the EMA 20 or the 38% Fibonacci level in the minor swing. Until these factors occur, the trend could remain bearish.
Additionally, I checked the volume profile and EMA 200 for long-term trend projections. Both the Nifty and Bank Nifty have yet to break the EMA 200, which means the higher degree trend is still bullish until it breaks that level. However, the volume profile is showing initial indications of a reversal in the Nifty, while the Bank Nifty has not yet shown this because the 51,500 level (in futures contracts) is providing good support based on the volume profile.
Conclusion: There is no clear direction yet from the combination of the Nifty and Bank Nifty charts. Therefore, we should approach this correction as a minor trend only.
#Nifty directions and levels for December 19th.Good morning, friends! 🌞
Here are the market directions and levels for December 19th.
Market Overview:
After the Fed rate cut, the Dow Jones fell drastically and ended with a negative change of 2.5%. This also affected the Nifty. Therefore, today the market may open with a significant gap-down, indicating that the Nifty is expected to start 330 points lower.
The global sentiment suggests there is a bearish bias. If you look at the charts from a broader perspective, the Nifty is showing a negative trend, while the Bank Nifty appears to be range-bound. Thus, both indices are displaying slightly different biases. However, my expectation is that, even though the Bank Nifty has a range-bound structure, it could reach a minimum correction of 78% in the minor swing. More or less, the current trend indicates a negative outlook. If the gap-down sustains today, we can expect a continuation of the correction with some consolidation. A reversal could be considered if there is a breakout at the EMA 20 or the 38% Fibonacci level in the minor swing. Until these factors occur, the trend could remain bearish.
Additionally, I checked the volume profile and EMA 200 for long-term trend projections. Both the Nifty and Bank Nifty have yet to break the EMA 200, which means the higher degree trend is still bullish until it breaks that level. However, the volume profile is showing initial indications of a reversal in the Nifty, while the Bank Nifty has not yet shown this because the 51,500 level (in futures contracts) is providing good support based on the volume profile.
Conclusion: There is no clear direction yet from the combination of the Nifty and Bank Nifty charts. Therefore, we should approach this correction as a minor trend only.
Good buying opportunity in HDFCAMCWave 4 is almost finished in HDFCAMC.
We can see that a Flat Correction is getting over here.
Wave C of this Flat Correction is near 127%, where a 50% retracement level of the previous impulse is also present.
This creates a good buying cluster. The stop loss for this trade will be 61.8% (marked in red). As wave 4 will never reach this level, we can assume that this is a pretty valid level at which to put our stop.
This analysis is based on Elliott wave theory and Fibonacci.
This analysis is for educational purposes only.
Please always do your own research before you take any trade.
When to buy BHARTIAIRTELIn BHARTI AIRTEL, a Diagonal (Terminal impulse) is finished and the price is falling.
After any Diagonal the next fall is always 61.8% or 81.2%.
So, if anyone is interested in buying this stock, they may start buying near these two levels: 1577.45 and 1544.05.
This analysis is based on Elliott wave theory and Fibonacci.
This is not any buying recommendation. Please always do your own research before you take any trade.
This analysis is for educational purposes only.
#Nifty directions and levels for December 18th.Good morning, friends! 🌞
Here are the market directions and levels for December 18th.
Market Overview:
The global market continues to show moderately bearish sentiment (based on the Dow Jones), while our local market is also exhibiting similar bearish signs.
In the previous session, both Nifty and Bank Nifty experienced solid corrections. So, what can we expect today? It’s important to remember that we are in a range-bound market and currently near its bottom. This makes predicting the next move challenging. However, based on the structure, I have observed some key points:
Even though the market fell yesterday, a minor diagonal structure formed at the end of the swing. If the market finds support around the immediate support level during the initial session, we can anticipate a 23% to 38% bounce back. However, the pullback can continue only if the market breaks the 38% retracement level. If it does, the next pullback targets could be at the 50% and 78% levels. Conversely, if it doesn’t break the 38% level, the market could consolidate before continuing its correction. This forms the basic structure. Let’s explain this further using the chart.
Both Nifty and Bank Nifty are currently showing the same structural sentiment.
Current View:
Today, the market may start negatively, based on the Gift Nifty sentiment. If this happens, we can expect a minimum correction down to MDZ. After this correction, if there is a rejection, a 23% to 38% bounce back could follow.
However, it is crucial to note that unless the market breaks the 38% retracement level, we cannot expect a further pullback continuation. This means the market’s bias will remain bearish until the 38% level is breached.
Alternate View:
The alternate view suggests that if the correction develops into a solid structure, it could continue further with some consolidation. In this case, we can use the EMA20 as a marker for potential reversals.
This means the solid correction will likely persist until the market breaks above the EMA20 level. However, it is important to note that the EMA20 is reliable only during solid movements. If the market undergoes prolonged consolidation, the EMA20 could generate false signals.
#Banknifty directions and levels for December 18th.Current View:
Today, the market may start negatively, based on the Gift Nifty sentiment. If this happens, we can expect a minimum correction down to 78% retracement level. After this correction, if there is a rejection, a 23% to 38% bounce back could follow.
However, it is crucial to note that unless the market breaks the 38% retracement level, we cannot expect a further pullback continuation. This means the market’s bias will remain bearish until the 38% level is breached.
Alternate View:
The alternate view suggests that if the correction develops into a solid structure, it could continue further with some consolidation. In this case, we can use the EMA20 as a marker for potential reversals.
This means the solid correction will likely persist until the market breaks above the EMA20 level. However, it is important to note that the EMA20 is reliable only during solid movements. If the market undergoes prolonged consolidation, the EMA20 could generate false signals.
Nifty 50 Completes Decadal Impulse Wave 5.Nifty has completed Elliott Impulse Wave cycle that began in 2008
And Awaits Correction Waves that should follow for decent future run up..
0.5/0.61/0.78 Fib retracement is Possible, Which Will bring Nifty to 17000 Level..
2025 2026 Crisis is about to Begin..
Mark the Level 24k to 25k
If this zone is Respected, Then This Correction may begin with full throttle taking Nifty to 18k 17k Very soon..
Our previous Idea has seen the 26250 level being tested and respected strongly!
Make your Decisions Consciously after going through previously posted idea linked here.
#Nifty directions and levels for December 17th.Good morning, friends! 🌞
Here are the market directions and levels for December 17th.
Market Overview:
The global market continues to show moderately bearish sentiment (based on the Dow Jones alone), while our local market is displaying a bullish sentiment. Today, the market may open with a neutral to slightly gap-down start, as the Gift Nifty is indicating a negative 40 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty saw a minor correction but did not break the 38% Fibonacci level. Therefore, until the support level is broken, the market will maintain its bullish bias. However, if the support is broken, the bullish momentum may turn neutral to bearish. This is the basic structure; let’s analyze this further with the chart.
Both Nifty and Bank Nifty currently share the same structural sentiment.
Nifty Current View:
The current view suggests that if the market initially takes a pullback, it could reach a minimum of 24,752. However, the rally will continue only if the market breaks this level with a solid candle. If it does, we can expect the next targets at 24,818 and 24,857. This is the basic structure.
Alternate View:
The alternate view suggests that if the market sustains the gap-down, the levels 24,559 and 24,531 will act as strong support. If the market finds support here, we can expect a bounce back of at least 38% to 78% in the minor swing.
Conversely, if this support level is broken, the market may fall further to 24,451 and 24,418.
(Note: If you plan to take a position in the bounce back, check for RSI divergence. If divergence occurs, you can enter; if it doesn’t, wait for a 38% Fibonacci breakout in the minor swing. Apply the Fibonacci levels from swing high (24,792) to the upcoming low. Because Range-bound entries can be challenging, and we cannot expect proper swings and in this premium)
#Banknifty directions and levels for December 17th.Bank Nifty Current View:
Bank Nifty also reflects a similar sentiment as Nifty. If the market initially takes a pullback, it could reach a minimum of 53,703 to 53,791. However, the rally will continue only if the market breaks this level with a solid candle. If it does, we can expect the next targets at 53,934 and 54,099.
Alternate View:
The alternate view suggests that if the market sustains the gap-down, the 38% Fibonacci level will act as strong support. If the market finds support here, we can expect a bounce back of at least 38% to 78% in the minor swing.
Conversely, if this support level is broken, the market may move lower to the 50% and 61% Fibonacci levels in the minor swing.
Garware Technical Fibre in Extended Wave 3NSE:GARFIBRES
Garware Technical Fibre is in final wave of extended wave 3. The current stock movement indicates that it is currently in the fourth wave of the extended third wave, and it is in the process of forming a triangle pattern. Trangle always form in wave 4. I have labelled wave 4 triangle with ABCDE.
Entry point is at high of wave D :- 3375/-
Target :- 4906/-
Profit Probability :- 45%
#Nifty directions and levels for December 16th.Good morning, friends! 🌞 Here are the market directions and levels for December 16th.
Market Overview:
The global market is showing moderately bearish sentiment (based on the Dow Jones only), while our local market displays bullish sentiment. Today, the market may open with a slightly gap-down start, as the Gift Nifty is indicating a negative 100 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty moved in two directions; however, by the end of the day, they closed with a solid rally.
What about today?
> As per yesterday's structure, if the market takes a pullback initially, we can expect further continuation with some consolidation.
> Additionally, open interest (OI) and the RSI indicator support this outlook.
> However, if we look at this from a broader perspective, it seems we are in a range-bound market.
> Therefore, until the market breaks the 38% Fibonacci level on the downside, we can consider this a bullish market. However, if it breaks below this 38% level, we should approach it as a range-bound market. This is the basic structure; let’s explain this in the chart.
Both Nifty and Bank Nifty share the same structural sentiment.
Nifty Current View:
The current view suggests that if the market takes a pullback after the gap-down start, we can expect the rally to continue. However, confirmation should be considered from an effective break of the 24797 mark. This is the basic structure.
Alternate View:
The alternate view suggests that if the market sustains the gap-down and breaks the 24702 mark, it could reach a minimum of 23% to a maximum of 38%. Structurally, it won’t break 38%. However, if it does break, then it will reach the 50% and 78% Fibonacci levels in the recent swing. Simply put, if you find a three-wave structure while it reaches this level, we can expect a bounce back, which indicates a bullish structure. However, if it reaches the 38% level in a straight line, it will likely continue further once it breaks the 38% mark.