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Elliott Wave

U(R) Truce on the Way – Nifty: Nervous to Nirvana! ElliottWave Life and markets share a common truth: Decisions made at crossroads define the journey ahead. Whether it's turning left or right at an intersection or navigating the ever-changing waves of financial markets, one thing remains constant—preparation is key. In trading, emotions often cloud judgment. The impulsive, last-minute decisions taken without a backup plan lead to uncertainty, just as a driver who hesitates at a crucial turn may end up lost. If you don’t prepare in advance, you will always be at the mercy of emotions rather than logic. I’ve always warned about hidden market paths, sharing insights through stocks like BHEL, ONGC, and others that signaled Nifty’s nervousness well before it unfolded. If you ignored the signs or failed to rethink, then neither I nor anyone else can help—because wisdom lies in learning before mistakes become losses. As someone once said: 👉 If you learn from your own mistakes, you’re intelligent. 👉 If you learn from others’ mistakes, you’re a genius! Now, coming back to our topic: The Ukraine-Russia Truce & Nifty’s Grand U-Turn? The war between U (Ukraine) & R (Russia) seems to be moving towards a truce, but only time will confirm its reality. However, technically, Nifty has been unfolding a wedge pattern since December 2024—a structure known for its time-consuming, overlapping movements across multiple wave degrees. On January 29, 2025, I proposed a falling wedge scenario with a key requirement: Nifty must overlap 22,537 to confirm the pattern Copyright of WaveTalks By Budget Day (February 1, 2025) Not only did Nifty hit this level, but it surged to 23,807 on February 5, adjusting the structure to an expanding wedge — a rare phenomenon . 6th Feb 2025 - Expanded Ending Diagonal Last Wave Pending Downside (One Day Before RBI Policy on 7th Feb 2025) Copyright of WaveTalks 11th Feb 2024 - What a fall in Expanded Ending Diagonal Copyright of WaveTalks What’s Next? The Big U-Turn? If this pattern completes in the current zone and starts bouncing upwards, we might witness Nifty’s journey from Nervous to Nirvana—a potential upside move towards 25,000, possibly even 26,277 for a new high! Are We Ready for the Grand Turn? Just like life, trading is about preparation. Those who anticipate the next wave will ride it effortlessly; those who hesitate will be left watching. Stay tuned as this unfolds—Catch me with another exciting idea from WaveTalks… Market Whispers! Can You Hear Them? Regards, Abhishek
NSE:NIFTY
by WaveTalks
20
#Nifty directions and levels for February 21:Good morning, Friends! 🌞 Here are the market directions and levels for February 21: Market Overview The global market has a slightly negative bias; however, the structure remains bullish (as indicated by the Dow Jones). Our local market is maintaining a moderately bearish sentiment. Today, the market may open neutral to slightly gapping down, as the Gift Nifty indicates a negative move of 50 points. In the previous session, both markets consolidated after a gap-down start. What about today? Structurally, we are still in a range, so it may continue in that manner. However, in the previous session, apart from HDFC Bank, all banking stocks performed well. If HDFC Bank supports the market today, we can expect some positive bias; conversely, if it does not support, the market may consolidate or correct. Just my opinion—let's look at the chart. Nifty Current View: The current view indicates that the Gift Nifty is suggesting a gap-down start. If the market finds support around the 78% level, or if the initial market takes a solid pullback without breaking the previous day's low, we can expect a pullback of a minimum of 38% to 78% within the range. After that, if it breaks the top of the range, we can expect a continuation of the rally, based on the structure. Alternate View: The alternate view suggests that if the gap-down has a solid structure and consolidates around the 78% to minor pullback zone, then the correction will likely continue to 22,725 to 38%.
NSE:NIFTY
by Manickamtraders
5
Nifty - Elliot Wave Update - Close to bottom, for Now!I am considering the entire correction from October highs as a triangle - ABCDE. We are now in E and E seems to be forming an Ending Diagonal - Another ABCDE. The chart shared shows internals of the Wave E. I have marked two alternates - Red and Orange, and in both cases we are close to end of correction which should end anywhere between 22500-600. If 22500 breaks we will have to update the counts and consider a dip to 22000. The bottom that gets formed could either be completion of correcting in Weekly Wave 4 in which case we head to ATH i.e. +28k in Nifty OR it could be just first leg of correction that ends in W and we go up in an X, in which case I expect 24-24.5k. In both cases a good move up should unfold - Expecting March to be a green month and most likely April to follow through upwards - So, gunning for 2 green months. A few factors getting aligned - US market seems topping out in Weekly Wave 3 and so does USDINR - both should favor some flow of funds towards a better valued Indian markets - and hence a +ve fund flow from FIIs should help bump up the markets, along with liquidity getting infused by RBI. So, time to start putting in the lump-sums :)
NSE:NIFTYLong
by pankajarora232
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 Swiftstrike
1
Cipla Update after the Correction Please refer the earlier chart of Cipla. Correction is over, we are seeing a big move up after the end of correction at wave e, remember there might be a pull back but overall the uptrend has just began. I am expecting that Cipla to move at 1675-1679 by Mid March to End of March. First Immediate move to 1580 and then the rest will unfold slowly. Disclaimer: I am not SEBI registered member and these Ideas are meant only for educational purposes.
NSE:CIPLALong
by Swiftstrike
DR REDDY GAP DOWN IN 3rd WAVEwe clearly see GAP DOWN in 3rd wave of the 5 waves of the C wave. What does this indicates? A fall to complete the 3rd wave was quick. we are done with 3rd wave and in the process to complete the 4th wave. Possibilities: *) Downward it can go to 1148-1160 to complete the 5th wave. *) It may close the 3rd wave Gap before resuming its downward Journey to complete the 4th wave. (Less Probability) In Either case I would prefer not to enter any new position and wait for the right opportunity. Disclaimer: I am not SEBI registered Member. This is Strictly for educational purpose only.
NSE:DRREDDY
by Swiftstrike
Nifty directions and levels for February 20th:Good morning, Friends! 🌞 Here are the market directions and levels for February 20th: Market Overview Globally, nothing has changed, while our local market is maintaining a moderately bearish sentiment. Today, the market may open neutral to slightly gapping down, as the Nifty futures indicate a negative move of 50 points. In the previous session, Bank Nifty had a solid pullback, but Nifty didn't react similarly and maintained its range. What’s next? The two structures are a bit different, so we can't take this in a single direction. My personal opinion is that structurally, there is still a decline pending today. If this decline finds support around the immediate support level, we can expect a continuation of the pullback with some consolidation. On the other hand, if it doesn't find support today, the market will likely consolidate before continuing its correction, Let’s look at the chart. Nifty Current View: The current analysis suggests that if the market pulls back initially or finds support around 22,830, we can expect a pullback. However, until it breaks the previous high, we can't anticipate significant movement. This is the first scenario. Alternate View: The alternate view indicates that we are in a range-bound market. Until the market breaks 22,769, the range will continue. However, if the decline has a solid structure and breaks 22,769, we can expect a continuation of the correction.
NSE:NIFTY
by Manickamtraders
5
Banknifty directions and levels for February 20th:Bank Nifty Current View: Bank Nifty is a bit different from Nifty; it has a bullish structure, resembling a "Flag pattern." If the market initially pulls back and breaks the minor rejection zone, we can expect further rally continuation. If it reaches there with gradual movement, it may not go up significantly. Alternate View: This is similar to the first one. If the market finds support around the immediate support level, we can expect a continuation of the pullback. Conversely, if it breaks that level, we can expect a minimum move to the channel bottom before the next correction target.
NSE:BANKNIFTY
by Manickamtraders
1
#Nifty directions and levels for February 18th:Good morning, Friends! 🌞 Here are the market directions and levels for February 18th: Market Overview There have been no significant changes in the global markets. The global sentiment remains bullish, as indicated by the Dow Jones, while our local market is showing a moderately bearish sentiment. Today, the market may open neutral to slightly gap down, as the Gift Nifty indicates a negative move of 20 points. In the previous session, both Nifty and Bank Nifty experienced a solid pullback after an initial decline. What’s next? The trend still seems bearish, but the pullback is accompanied by RSI divergence and some parameters supporting further continuation of the pullback. Therefore, the probability leans towards consolidation or continued pullback. Let's look at the chart. Both Nifty and Bank Nifty structures seem similar, but the wave structures are a little mismatched. Current View: Based on the wave structure, there is a progressing leading diagonal in Nifty. So, even if the market opens negatively and breaks the pattern's bottom, we can expect some pullback after the decline because it's the initial wave of the motive (leading diagonal). The decline could be in the second wave of the motive. Once it starts to pull back and breaks the previous high, we can expect continuation of the pullback to the upside. This is the basic structure. To explain it simply: the pullback has bullish momentum. So, even if the market starts negatively (as indicated by Gift Nifty), we can expect a pullback after some decline because RSI and other parameters support it. Here, a correction will occur only if the decline forms in a straight line and consolidates around the previous bottom. Until then, we could maintain a bullish bias in today’s session. Alternate View: The alternate view suggests that if the market opens with a gap up or if the initial market takes a pullback, the rally will likely continue with some rejections.
NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for February 18th:Current View: the pullback has bullish momentum. So, even if the market starts negatively (as indicated by Gift Nifty), we can expect a pullback after some decline because RSI and other parameters support it. Here, a correction will occur only if the decline forms in a straight line and consolidates around the previous bottom. Until then, we could maintain a bullish bias in today’s session. Alternate View: The alternate view suggests that if the market opens with a gap up or if the initial market takes a pullback, the rally will likely continue with some rejections.
NSE:BANKNIFTY
by Manickamtraders