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Elliott Wave

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 swapsachin
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 swapsachin
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 swapsachin
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
NSE IOC – Approaching a Key Demand ZoneTimeframe: Daily After reaching a high of 196.8, the price has declined by over 39% in 13 weeks. It is currently trading below the 50/100 EMA band, with ATR at 3.68 and ADX at 26.02 . According to the Elliott Wave projection, the peak of 196.80 can be identified as a wave ((3)). The security is currently undergoing the formation of a corrective wave (4). Wave (B) formed at 185.97 , while wave 4 of wave (C) was completed at 145.10 . NSE IOC is now setting up for the final wave 5 of wave (C). Two key Fibonacci relationships help estimate the end of the correction: 1.618 Fibonacci extension of wave (A) at 106.54 (for wave C) 0.618 Fibonacci extension of wave 1 at 115.52 (for wave 5) The price is expected to settle between 115 and 105 , which serves as a key demand zone for buyers. If the price breaks out and sustains above 129.75, traders can target the following levels: 139 – 156 – 172+. we will update further information soon.
NSE:IOC
by forextidings
1
NSE GLAND: A Critical Resistance Zone That Could Shift the TrendTimeframe: Daily In NSE GLAND, the price has respected the channel in three distinct moves, indicating a potential 3-wave correction setup. Currently, it is trading below the 50 and 100 EMA, with ATR at 55.96 and ADX at 42.07 . After reaching a high of 2220 , the price declined and formed a corrective structure. Wave (A) completed at 1585.7 , followed by wave (B) at 1964 . Presently, wave 4 of wave (C) is in formation. The 1545-1585 zone serves as a strong resistance, where a decisive breakout could shift the trend. However, the price still needs to reach 1328 to complete a 100% extension of wave A, making wave C = wave A at 1328 . A strong throw-under could enhance the probability of revisiting levels near wave (B). We will update further information soon.
NSE:GLAND
by forextidings
BANKNIFTY: Elliott Wave AnalysisBANKNIFTY counting using Elliott Wave theory is done from 13th January. We can see FLART- ZIGZAG- ZIGZAG CORRECTION marked in the chart. The top made on 6th February is marked as wave (W) because it has 3 moves in it. The fall after that was sharp and fast. This is the characteristic of wave (X). Now, according to my analysis price is standing on wave (B) of wave (Y). and as per previous observations, wave (Y) always crosses the top of wave (W), so we can expect it to go up to 100% extension. This not any buying or selling recommendation. This analysis is based on Elliott Wave theory and Fibonacci. For educational purpose only.
NSE:BANKNIFTY
by theprofityogi
5
NIFTY analysis based on Elliott Wave theoryNIFTY is looking like in wave (Z). Now, wave (Z) is always in 3 moves (ABC). If we take a look in 75 min chart of NIFTY, we may see wave (a) of wave (Z) finished on 12 Feb. The price is in wave B of wave (b) now. It looks like Zig-zag pattern is forming and it is observed most of the times that, Wave B of Zig-zag takes at least equal time of wave A. So we may assume that, wave (b) of Zig-zag will finish at least by 19 Feb near 50% to 61.8% And then we may expect a fall to form wave (c) of Zig-zag. This analysis is based on Elliott Wave theory and Fibonacci. This analysis is for educational purpose only.
NSE:NIFTY
by theprofityogi
20
#Nifty directions and levels for February 14th:Good morning, Friends! 🌞 Here are the market directions and levels for February 14th: 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-up, as Gift Nifty indicates a positive move of 100 points. In the previous session, both Nifty and Bank Nifty closed with a neutral sentiment, though volatility was high. What about today? Due to selling pressure, the market didn’t gain much even when it started positively. So, today, we will take a conservative approach. My expectation is for a consolidation phase. However, if the market breaks its immediate support or resistance after some consolidation, the direction is likely to persist. Let’s look at the chart. Both Nifty and Bank Nifty have the same structural sentiment. Current View We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 22,956 to 22,920. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level. > On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue. Alternate View The alternate view suggests that if the market sustains the gap-up, 23,186 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.
NSE:NIFTY
by Manickamtraders