Elliott Wave
Britannia in correction phase.#Britannia looks bullish but it's not, little bit up move still remained but eventually going to come down, bigger picture it will look in sideways good for investing long term
#Banknifty directions and levels for May 8th.Banknifty also has a similar sentiment. If the initial market decline occurs, then we can expect a correction to a minimum of 48128 or 47992 levels. After that, if it finds support there, then we can expect a pullback that may retrace a minimum of 38 to 50%.
However, if it doesn't find support or consolidates there, then the correction will likely continue, and we can fix our next target Fibonacci level 38% (47856).
The alternate variation is similar to Nifty: if the market takes a pullback initially, then the Fibonacci level 38% (upside) may act as a strong resistance. If it rejects there, then we can expect a range market. After that, if it breaks the range either upside or downside, we can follow the direction.
#Nifty directions and levels for May 8th."Good morning, friends🤝🍬! Here are the directions for May 8th:
There have been no changes in the global market; it's maintaining a moderate bullish sentiment, while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20.
Nifty fell solidly in the previous session; however, the RSI shows divergence, indicating that even if the market declines initially today, it won't be sustained. If it rejects around the immediate support level, then we can expect a sharp pullback. This is the reason behind the first variation.
However, if it doesn't find support at the immediate support level or if it consolidates, then the correction will likely continue, and we can try a range breakout entry.
The alternate variation suggests that if the market takes a pullback initially, then the Fibonacci level 38% (upside) may act as a strong resistance. If it rejects there, then we can expect a range market. After that, if it breaks the range either upside or downside, we can follow the direction.
Here, we also have another variation: if the pullback solidly breaks the Fibonacci level 38% (upside), then it may reach the Fibonacci level 61% with minor consolidation. I explained this in the video; if you have free time, please check it.
#Banknifty directions and levels for May 7th.Both Nifty and Bank Nifty have the same consolidation structure. If the market initially takes a pullback, then we can expect a minimum of 61% pullback. After that, if it rejects sharply, then it might correct again, meaning it may return to its morning opening level.
However, if it sustains around 61%, then the rally will likely continue with minor consolidation.
Alternatively, if the market declines initially or if the market opens with a gap-down, then we can expect a minor correction only because there is going to be a range market, so we can anticipate only a minor correction. However, if it forms a solid correctional formation (solid red candle), you can try a range breakout entry.
#Nifty directions and levels for May 7th."Good morning, friends! Here are the directions for May 7th:
The global market has moderate bullish sentiment, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +12.
Both Nifty and Bank Nifty have the same consolidation structure. If the market initially takes a pullback, then we can expect a minimum of 61% pullback. After that, if it rejects sharply, then it might correct again, meaning it may return to its morning opening level.
However, if it sustains around 61%, then the rally will likely continue with minor consolidation.
Alternatively, if the market declines initially or if the market opens with a gap-down, then we can expect a minor correction only because there is going to be a range market, so we can anticipate only a minor correction. However, if it forms a solid correctional formation (solid red candle), you can try a range breakout entry."
Dow Current Rally could fail to complete Rest Before Next Up legJust for educational purpose trade at your own risk.
I only trade Indian markets.
#Banknifty directions and levels of May 6th.BankNifty differs slightly from Nifty. It has already finished the three-wave structure, so if the gap-up sustains, we can expect rally continuation with minor correction that should break the minor fib level of 38%. Alternatively, if the gap-up doesn't sustain and breaks the previous day's low, then it might turn into a diagonal pattern."
#Nifty directions and levels of May 6th."Good morning, friends! Here are the directions for May 6th:
There have been no changes in the global market; it's maintaining its range, while our local market sentiment also indicates a moderately bearish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +100.
Nifty fell drastically in the previous session, so the correction might continue when it breaks the previous day's low. However, GiftNifty is indicating a gap-up start. So, how can we interpret this sentiment? First, let's look at the structure, which indicates a range market. Often, this kind of fall happens in the range market but doesn't continue. If this fall had occurred in the trading market, we would surely expect a reversal, but it's not a trending market.
So, simply put, my expectation is if the gap-up sustains, then the range will likely continue. The first variation suggests (current view) ('B' leg of zigzag variation (three-wave pattern)): if the gap-up sustains, then we can expect minor rejection at the level of 50%. If it happens, we can assume it's an 'A' and 'B' leg.after that if it break the fib level 50% it could continue the pullback, which should be in the 'C' leg, reaching 61 to 78%.
Note: One more thing, if the initial market breaks the fib level of 50%, then the 'A' leg might go to 61%, so that's why I mentioned 50 or 61% where it will reject. if it happens then You can complete the 'A' leg there and expect 'B' minor retracement and 'C' pullback.
The alternate variation suggests that even if the initial market rejects sharply, we can expect minor consolidation between the opening range to the previous bottom. After that, if it breaks the range either upside or downside, we can follow the direction.
Comex Copper = Explosive Nifty to Unfold in 2024 ?Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
WaveTalks - Market Whispers: Can you hear them?
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Copper Outlook
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1. Setting the Stage for Explosive Moves:
- Copper is recognized as a barometer of economic growth, and its performance can provide insights into broader market movements.
- In January 2023, I predicted copper would see explosive growth in 2023-2024. This was confirmed in November 2023 when the corrective wave 2 completed in a truncated wedge pattern, providing a strong foundation for significant gains.
Comex Copper in Nov 2023 ( Explosive Wave to Unfold Next?)
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2. Rising Demand:
- Copper cathode demand reached 598,000 tonnes (81.2% of the previous year's total) by November 2023.
- Imports of copper cathode, scrap, and wire rods soared by 174%, 56%, and 13% year-on-year, respectively.
- This robust demand hints at double-digit growth in FY24. The Indian government's focus on infrastructure, clean energy, and consumer spending is expected to sustain this growth.
3. Production Challenges and Future Solutions:
- India's smelting capacity was halved due to facility closures, turning the nation from a net exporter to a significant importer.
- The upcoming Adani smelter (5 lakh tonnes capacity) and potential reopening of the Sterlite smelter in 2024 could help India reclaim its status as a net copper exporter.
Nifty / BankNifty Outlook
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1. Explosive Moves Expected:
- The Nifty index started forming a well know rising pattern around the 18,800-19,000 zone in October to November 2023, suggesting a significant move ahead. This famous pattern was rising wedge.
- This pattern was debated on WaveTalks as either an ending or leading diagonal, offering different implications for future market moves.
2. Elliott Wave Analysis Insights:
- Applying Elliott Wave Analysis gave clarity to potential market paths, allowing for strategic decisions at tops and bottoms.
- As patterns unfolded as expected for Copper, the market outlook became increasingly clear for equities as Copper is a barometer of economic growth.
3. Conclusion:
- The Indian equity markets, particularly Nifty and BankNifty, appear set for more explosive moves.
- Time will reveal how far the markets can go, but the whispers of the market suggest significant growth ahead.
Signing off from WaveTalks: Market Whispers! Can you hear them?
From WaveTalks
Abhishek
End of wave iiiChoose parallel channel . Then connect the end of wave i to the end of wave iii and make a parallel channel connecting to the end of wave ii. Only if the channel is broken on the lower side with resistance , we can conclude that wave iii is over . If the parallel channel gives support it means we have a 1-2-123... in progression . Investors should hold because even if the channel is broken on the lower side it would be a wave iv only . Regards
Beautiful Waves - the making in the Silver MarketAs we could see from the chart the way how XAGUSD presented beautiful patterns every time before a breakout. Now looking it from the left side of the chart it seems pretty easy to create multiple good trading setups but what's tough is doing the same to the right side of the chart where the UNKNOWN lies. That's what would take years of experience to interpret and execute.
#Banknifty directions and levels for May3rd.BankNifty differs from Nifty. It didn't have as much of a pullback yesterday. So, if the market opens with a gap-up, then we can expect the fib level 78% with minor consolidation. Alternatively, if the gap-up doesn't sustain, then we can expect an initial range market between the opening price and the fib level 50%. After that, if it breaks that range either upside or downside, then we can follow the direction.
#Nifty directions and levels for May3rd."Good morning, friends! Here are the directions for May 3rd:
The global market is still maintaining the range, while our local market sentiment also indicates a moderately bearish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +80.
Nifty has been moving in a diagonal pattern. So, if the gap-up sustains, we could expect 22842, which means a rally continuation with minor consolidation. After that, if it sharply rejects around 22842, the diagonal may complete there and start to correct. But we could look for some reversal confirmation, using EMA20 and the 38% fib level in the minor swing. Both sentiments need to align for a trend reversal, indicating a bearish trend.
However, if the market sustains there (22842), then it will continue the rally further.
The alternate variation suggests that if the gap-up doesn't sustain and declines sharply at the initial market, then we can expect a range market. The previous range may continue further.
Manappuram 3x opportunityNear ATH, Always focus on right entry with max 6-7% stop loss.
Part booking is what you need to opt for time to time when stock is about to consolidate.
DISCLAIMER:
There is no guarantee of profits or no exceptions from losses.
The stock and its levels discussed are solely the personal views of my research.
You are advised to rely on your judgment while investing/Trading decisions.
Seek help of your financial advisor before investing/trading.
Investment Warnings:
We would like to draw your attention to the following important investment warnings.
-Investment is subject to market risks.
-The value of shares and investments and the income derived from them can go down as well as up.
-Investors may not get back the amount they invested - losing one's shirt is a real risk.
-Past performance is not a guide to future performance.
-I may or may not trade this analysis
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#Banknifty Directions and levels for May 2nd.Good morning, friends! Here are the directions for May 2nd:
The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30.
Nifty and BankNifty have the same structure, and structurally there is a sub-wave 4th going on. It's a consolidation zone, so if the market opens with a gap-up and sustains it, then we can expect a range market. However, if the market sustains around the Fibonacci level of 78%, it could break out. Even though it breaks the Fibonacci level of 78%, structurally, it may not take that much of a rally because the upcoming wave is a 5th wave, and the 5th wave is typically a distribution wave.
Alternatively, if the gap-up doesn't sustain and declines initially, we can expect a minor correction with a pullback structure. The aggressive correction will occur only if it breaks the immediate support level with some minor consolidation.
#Nifty Directions and levels for May 2nd.Good morning, friends! Here are the directions for May 2nd:
The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30.
structurally there is a sub-wave 4th going on. It's a consolidation zone, so if the market opens with a gap-up and sustains it, then we can expect a range market. However, if the market sustains around the Fibonacci level of 78%, it could break out. Even though it breaks the Fibonacci level of 78%, structurally, it may not take that much of a rally because the upcoming wave is a 5th wave, and the 5th wave is typically a distribution wave.
Alternatively, if the gap-up doesn't sustain and declines initially, we can expect a minor correction with a pullback structure. The aggressive correction will occur only if it breaks the immediate support level with some minor consolidation.
HCL Correction looks overNSE:HCLTECH
Weekly and Daily TF analysis
Wave 4 correction looks getting over
Wave 5 Rally shall resume
#Banknifty directions and levels for April30th.BankNifty has a solid bullish structure, so if the initial market rejects, we can expect a maximum retracement of 23 to 38% because it could be in a 4th correctional wave. Alternatively, if the gap-up sustains, then we can expect rally continuation with minor consolidation.
#Nifty directions and levels for April30th.Good morning, friends! Here are the directions for April 30th:
The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment indicates a bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20.
Structurally, Nifty doesn't have that much of a bullish sentiment. It's maintaining the bullish bias supported by the BankNifty. So, if the initial market rejects, we can expect a minimum correction of 38 to 50%. After that, if it finds support, it may undergo a range-bound structure. On the other hand, if it consolidates around 50%, then the correction will likely continue.
An alternate variation indicates that if the gap-up sustains and breaks the supply zone, then we can expect rally continuation with minor consolidation at the immediate resistance level.
BITCOIN Looks read for $100000COINBASE:BTCUSD
Wave 4 Correction looks over.
Shall be heading Higher in Wave 5
To $100000
Bank Nifty Update ( Long Term View)Hello Everyone
Its been long since my last update, as in current chart i am only going to talk about long term view. I have been talking about up cycles since 23rd january 2023, you can see this in my below chart.
Bank Nifty update on 23/01/2024
What now i expect market should move upward making blue degree which is called medium degree(m1 series). By combining this m series, our one long term degree wave-((3)) will completed.
Thank You
bit coin 4h here is my analysis of bit coin ; what do you think about it ? it gonna start its journey to 100K mark
