Get started

Elliott Wave

GUARGUM51! - Key Trends and Price PredictionsOn the NCDEX, guar gum has formed an Elliott Wave cycle, with the final Wave E of Wave (4) approaching completion. A confirmation above Wave D could shift the entire outlook in favor of buyers. From a price action perspective, 9830 serves as a strong support level, while 13,650 acts as a supply zone, both of which have remained significant for over four years. Wave D represents a critical midpoint, ensuring a push toward the upper supply zone once the price sustains above this level or Wave D. If the price has completed Wave (4) and has broken above Wave D, it is likely to reach the upper boundary of the value area, around 13,650 . However, with the ADX (Average Directional Index) at 17, this suggests a weak trend, indicating that the current price movement lacks strength. If the price closes below the demand zone at 9,830 , it could delay the expected bullish move. Traders should wait for confirmation before entering a long position to ensure a stronger trend.
NCDEX:GUARGUM51!
by forextidings
TMCFGRNZM: Breakout Could Fuel Bullish MomentumNCDEX TMCFGRNZM is showing signs of potential growth, but the increase so far hasn't been significant. According to Elliott Wave analysis, the price has formed an impulsive pattern, with wave (c) of wave ((4)) reaching a level of 13,000 . The price is currently in the final wave ((5)) of the impulsive cycle. For this to confirm the impulsive movement, the price needs to break above the level of wave (B), which is at 16,590. A strong resistance is expected at wave B, and if the price breaks through this level, it could boost the bullish momentum, leading to a new high. However, without this confirmation, the price may not be suitable for long-term investment and could remain in a corrective phase. We will update further information soon.
NCDEX:TMCFGRNZM1!
by forextidings
#Nifty directions and levels for January 6th, Monday:Good Morning, Friends! 🌞 Here are the market directions and levels for January 6th, Monday: Market Overview: The global market is maintaining a moderately bearish sentiment (based on the Dow Jones), while our local market is also showing a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Gift Nifty showing an 80-point positive start. In the previous session, Nifty and Bank Nifty experienced a minor decline. However, the structures indicate a range-bound market, so until the range is broken, we shouldn't expect directional movement. Let’s look at the charts. Nifty Current View: The current view for Nifty suggests that if the market opens with a gap-up, 24072 will act as a resistance. This means that until this level is broken, the market will maintain a bearish bias. However, if it breaks 24072, then we can expect a minimum target of 24173, which is also a major resistance level. > After reaching 24173, if it consolidates or breaks this level, we can expect further continuation of the pullback. Conversely, if it rejects this level, the range is likely to continue. This is the basic structure. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the 38% mark on the downside, the correction will likely continue to the 50% mark. Based on the correction structure, if the correction has a solid structure, it will likely continue to 78%. Conversely, if it reaches 50% with gradual movements, we can expect a minor pullback.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for January 6th, Monday:Bank Nifty Current View: The current view for Bank Nifty is similar to that of Nifty. If the market opens with a gap-up, the 38% level will act as a resistance. This means that until this level is broken, the market will maintain a bearish bias. However, if it breaks the 38% level, we can expect a minimum target of 51379 to 51508, with 51508 being a major resistance. > After reaching 51508, if it consolidates or breaks this level, we can expect further continuation of the pullback. Conversely, if it rejects this level, we can expect a correction. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the previous low, the correction will likely continue to the 78% level at 50620, which is the bottom of the range. Therefore, we should wait for a breakout, or if it pulls back, we can check for reversal confirmation before entering a long position.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for the second week of January:Nifty Previous Week Recap: Last week, Nifty moved in a three-way structure. It started on a negative note, shot up sharply midweek, and ended with a slight decline. Open interest indicates a bearish bias, but it hasn’t fully confirmed. This suggests a moderately bullish bias for now. Let’s examine the charts. Current View: If the week starts negatively, Nifty could reach a minimum of 23,624. After that: * If it consolidates or breaks below this level, the correction may continue. * However, if it holds above 23,624, it could turn into a range-bound market between the previous high and 23,624. Alternate View: If the market finds support around 23,934 and breaks the previous high, it could target 24,559–24,698. This range is a significant resistance, and the rally will continue only if it breaks this level. Otherwise, the market could remain range-bound. Final Note: * The US market has several major events this week, so each session may open with fluctuations. * The local market is entering the earnings season. * Charts: Both global and local markets are in a range. * Both Nifty and Bank Nifty have different structures as well as open interest. Expectation: The market is likely to remain range-bound with a negative bias this week.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for the second week of January:Bank Nifty Bank Nifty is clearly in a range-bound market, and until it breaks out, we cannot expect directional movement. Open interest also indicates a bearish bias, so the probability of downside movement is higher. Let’s look at the chart. Current View: If the week starts negatively, Bank Nifty could reach a minimum of 50,255, which is a minor support level. While some consolidation may occur, the level might not sustain. Alternate View: If the market pulls back at the start, it could attempt to reach 52,174–52,386. However, this is a major resistance level. If the market rejects this level, we can expect a correction, which means it will re-enter a range-bound phase.
NSE:BANKNIFTY
by Manickamtraders
#Sensex directions and levels for the second week of January:Sensex Sensex mirrors Nifty’s structure, so we can follow the same sentiment for Sensex. Current View: If the week starts negatively, Sensex could reach a minimum of 78,090. After that: * If it consolidates or breaks below this level, the correction is likely to continue. * Conversely, if it holds above 78,090, it could turn into a range-bound market between the previous high and 78,090. Alternate View: If the market finds support around 78,797 and breaks the previous high, it could reach 80,501–87,300. The 87,900 level is a significant resistance, and the rally will continue only if it breaks this level. Otherwise, the market could remain range-bound.
BSE:SENSEX
by Manickamtraders
2018 breakout soon with momentum in RANE MADRASWe can see on yearly chart that price is at 2018 breakout level with RSI coming above 70 for the 1st time. Rane (Madras) Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 1,481.77 Crore) operating in Auto Ancillaries sector. Rane (Madras) Ltd. key Products/Revenue Segments include Steering & Suspension Linkages, Scrap, Export Incentives and Job Work for the year ending 31-Mar-2024. For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 530.69 Crore, up 1.37 % from last quarter Total Income of Rs 523.52 Crore and down 13.27 % from last year same quarter Total Income of Rs 611.88 Crore. Company has reported net profit after tax of Rs -.68 Crore in latest quarter.
NSE:RMLLong
by TechnicalAnalystSucrit
No more ruling the skies of the aviation sector!! - INDIGOInterglobal Aviation (INDIGO) has shown several bearish patterns recently, indicating potential downward trends in its stock performance. Weekly : Bearish Engulfing Candlestick Pattern. Daily : Three Outside Down with very weak volume Each candlestick pattern confirms a bearish trend, suggesting a short trade. Additionally, global factors are expected to impact the aviation sector. Entry: 4425 Stop Loss: 4740 Target: Open/Mentioned. Let me know if you found this interesting. Happy trading! 😄
NSE:INDIGOShort
by Vikrant_Mighty
Triple Top Chart Pattern IN BANK NIFTY ? Triple Top in Bank Nifty? Please observe carefully. Upon broadly looking at Bank Nifty and its components, such as HDFC, ICICI Bank, SBI, IndusInd Bank, Axis Bank, and Other PSUs etc.. it is evident that many have begun forming lower lows or transitioning from an uptrend to downtrend. This indicates a bearish structure. By observing Bank Nifty closely and considering the mentioned points and levels, an early Entry for shorting @ 50900 level. If the price rebounds to 51275, it presents an opportunity to add more quantity. Most of the levels are mentioned in the chart. Please refer to it and share your feedback in the comments. If you disagree, please feel free to ignore.
NSE:BANKNIFTYShort
by Vikrant_Mighty
3
Corrective rise in Reliance The current upmove in Reliance is corrective. The recent low was made near the 111% level, which is considered the wave B level of Flat Correction. The price is in wave C currently. If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B. The targets are open as: Minimum 61.8% (the price is near this level) Rule of equality 100% Extended golden ratio 161.8% This analysis is based on Elliott Wave theory and Fibonacci. This is not buying recommendations. Always do your research before taking any action. For educational purposes only.
NSE:RELIANCELong
by theprofityogi
1
TATVA LONGElliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv) and (v) downside. Currently, the stock is undergoing correction wave (a), (b), and (c) in a daily time frame. stock is currently in Wave (a). Wave (a) will unfolded in five sub waves in red colour. Wave iii (in red colour) of wave (a) will unfold in five sub waves ( in black circle) on the chart. Wave levels are shown on the chart. Level of Invalidation The starting point of Wave (i) has been identified as the invalidation level at 788.5. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:TATVALong
by drvineet
3
#Banknifty directions and levels for January 3rd, FridayBank Nifty Current View: The current view for Bank Nifty indicates that if the market initially pulls back after a gap-down start, it could signal the continuation of the pullback. However, we should wait for the previous high to break. If it does, the minor supply zone could serve as the minimum target for this pullback. Additionally, this zone acts as minor resistance, so some consolidation is likely around this level. Alternate View: If the decline has a solid structure, it could reach the 38% Fibonacci level in the overall swing. Structurally, we are in a range-bound market, so if it breaks the 38% level, it could reach a minimum of 50% to 78% in the current swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for January 3rd, Friday:Good Morning, friends! 🌞 Here are the market directions and levels for January 3rd, Friday: Market Overview: The global market shows a moderately bearish sentiment (based on the Dow Jones), while our local market leans towards a moderately bullish sentiment. In the previous session, Nifty and Bank Nifty experienced a pullback, but compared to Bank Nifty, Nifty performed better. What can we expect today? The pullback structure suggests it could continue after some consolidation. However, the global market and some parameters do not support this, so we should approach it with caution. Let’s take a look at the charts. Nifty Current View: The current perspective based on the pullback structure indicates that whenever the market experiences a solid rally, it typically does not break the 38% retracement during profit booking. If the market opens with a gap-down, we could see a maximum correction of 23% to 38%. If the market finds support around this level, we can expect some consolidation between the previous high and the 38% level on the downside. After that, if it breaks the previous high, the rally will likely continue toward 24,324. This is the basic structure. Alternate View: An alternate perspective based on some parameters suggests that if the gap-down has a solid structure, it could reach the 50% Fibonacci level in the minor swing. However, even with a solid structure, we cannot consider it a correction until it breaks the 50% mark. If it does break that level, we can then consider it a correction. If it does not break the 50% level, it could maintain a bullish bias.
NSE:NIFTY
by Manickamtraders
2
NIFTY ELLIOT WAVE ANALYSIS - Wave b(4)Potential Wave B Completion in Wave 4 Correction Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold. Key Levels to Watch: Resistance Zone: 25,600–25,700 This level could act as a key resistance, capping the upward move of Wave B. Support Zone: 22,700–22,800 On the downside, this area may provide significant support and serve as the target for Wave C. Potential Scenario: Wave B could complete after testing the resistance zone, forming a bearish reversal. If the gap fill around the 81.2% Fibonacci retracement occurs, it might signal the transition into Wave C. Wave C could drive prices lower toward the support zone, completing the corrective structure.
NSE:NIFTY
by hiteshkumar10999
Birlasoft Ltd : Ready for a BreakoutBirlasoft Ltd is a company engaged in computer programming, consultancy, and related activities. It provides software development and IT consulting services. Pro: Almost debt-free Good profit growth of 18.2% CAGR over the last 5 years Healthy dividend payout of 28.3% Technical Analysis: \ The stock is forming a Descending triangle pattern , indicating a potential breakout. Volume is also building up from the last swing low. Expecting a good profit for the upcoming quarters Stop Loss of 25 points with a target of 350 ++ points. One can consider this stock for a shorter period with a target of 600 to 605.
NSE:BSOFTLong
by Vikrant_Mighty
3
SPANDANA LONGElliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv) and (v) downside. Currently, the stock is undergoing correction wave (a), (b), and (c) in a daily time frame. Wave (a) and (b) in blue colour are finished and the stock is currently in wave (c). Wave (a) unfolded in five sub waves in red colour and Wave (b) is folded in three sub waves (a-b-c) in red colour. Wave (c) will unfold in five sub-waves shown in red colour on the chart. Wave levels are shown on the chart. Level of Invalidation The starting point of Wave (a) has been identified as the invalidation level at 286.65. Because as per wave rules Wave (b) cannot retrace more than 100% of Wave (a). If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:SPANDANALong
by drvineet
3
BATAINDIA LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (i) and (ii), which are shown as blue numbers on the daily chart. Wave (iii) appears to be underway at this time. Wave (iii), also known as the impulse wave, unfolded into five waves, which are illustrated in red. Wave levels are depicted on the chart. An inverted Head and Shoulder Pattern is formed on the chart and the target is shown on the chart. (The Inverted Head and Shoulder Pattern is a bullish reversal pattern). Level of Invalidation The invalidation level of 1269 has been identified as the start point of wave (i). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears. I'm not a registered Sebi analyst. My research is done solely for academic purposes. Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses. Regards, Dr Vineet
NSE:BATAINDIALong
by drvineet
PRINCEPIPE LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (i) and (ii), which are shown as blue numbers on the daily chart. Journey of Wave (iii) is started. It is anticipated that wave (iii) will have about five subdivisions shown in red color. wave i (in red color) of wave (iii) will unfold in five sub waves shown in black circle. Wave levels of wave i in red color is shown on chart. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:PRINCEPIPELong
by drvineet
11
JSFB LONGThe Elliott Wave Theory's description of the structure and pattern of price movements in financial markets is known as the Elliott Wave Structure. The Elliott Wave analysis indicates that the stock has completed waves (i) and (ii), which are shown as blue numbers on the daily chart. Journey of Wave (iii) will start. It is anticipated that wave (iii) will have about five subdivisions shown in red color. wave i (in red color) of wave (iii) will unfold in five sub waves shown in black circle. Wave levels of wave i in red color is shown on chart. Level of Invalidation The starting point of Wave (i) has been identified as the invalidation level at 365. Because as per wave rules Wave (ii) cannot cross the starting point of Wave (i). If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:JSFBLong
by drvineet
FLAIR LONGThe Elliott Wave analysis indicates that the stock has finished waves (i) and (ii). Stock is moving in the wave (iii), which are shown by blue numbers on the daily chart. Wave (iii), also known as the strongest impulse wave, unfolded into five waves, which are illustrated in red. waves i, ii, iii and iv are finished and shown in red colour on the chart. Wave v (in red colour) of wave (iii) (in blue colour) will unfold in five waves, as illustrated in the black circle. Wave levels are depicted on the chart. Level of Invalidation The invalidation level of 294 has been identified as the end point for wave i. If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears. I'm not a registered Sebi analyst. My research is done solely for academic purposes. Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses. Regards, Dr Vineet
NSE:FLAIRLong
by drvineet