Get started

Elliott Wave

#Banknifty directions and levels for November 12th.Bank Nifty Current View: It looks similar to the Nifty sentiment. If the market sustains the gap-up, it could reach a minimum of 52,093. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 52,237 to 52,357. This is our first variation. Alternate View: The alternate view suggests that if the market declines and breaks the level of 51,736, then it could reach a minimum of 51,483 to 51,395.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for November 12th.Good morning, friends! 🌞 Here are the market directions and levels for November 12th. Market Overview: There are no significant changes that have happened. The global market is maintaining a bullish sentiment (based on Dow Jones only), while our local market is showing a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on Nifty showing a positive 40 points. In the previous session, both Nifty and Bank Nifty had a solid pullback, but it didn't sustain, which simply means we are in a range market. Today's structure also indicates a continuation of the range market. Let's take a look at this in the charts. Nifty Current View: The current view suggests that if the market sustains the gap-up, it could reach a minimum of 24,288. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 24,367. This is our first variation. Alternate View: The alternate view suggests that if the market declines initially, it could reach a minimum of 78% to the MDZ. However, it should break 24,076, then only can we expect these levels.
NSE:NIFTY
by Manickamtraders
EPL Ltd for 60% gains; best ever quarter resultsDate: 11Nov’24 Symbol: EPL Timeframe: Daily EPL (formerly known as Essel Propack Ltd) seems to be in Wave III of 3 which could extend to 400 levels (60% from current price of 250) as seen in the chart. Possible wave counts have been marked which will have to be reviewed as the move develops. EPL has posted best ever quarter sales and profits in Q2 today so a big jump may be seen tomorrow, 12 Nov’24. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. HINGLISH VERSION Aisa lagta hai ki EPL (pehle jiska naam Essel Propack tha) 3 ki Wave III mein hai jo 400 ke star (250 ki vartamaan keemat se 60%) tak badh sakta hai jaisa ki chart mein dekh sakte hain. Sambhavit Wave numbering ko chihnit kar liya gaya hai jiski sameeksha chaal vikasit hone par kee jaegee. EPL ne aaj Q2FY25 mein ab tak ki sabase achchhee quarterly sales aur profit darj kiya hai, isliye kal, 12 Nov’24 ko ek bada uchhaal dekha ja sakta hai. Yah koi trade lene ya invest karne ki salaah nahi hai. Kripya apana vishleshan khud karein. Aur mujhe galat hone ka adhikaar hai.
NSE:EPLLong
by DhandhaPaani
Sharda Cropchem for 60% gainsDate: 11 Nov’24 Symbol: SHARDACROP Timeframe: Daily Sharda Cropchem seems to be in Wave III of 3 which is heading towards 1350 (~60% from current price of 800) as seen in the chart. Wave 3 could even extend to 1500 which can be reviewed after closing above 1100 in Wave V of 3. Recent Q2 results are good with better margins compared to last FY. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. HINGLISH VERSION Jaisa ki chart mein dekha gaya hai, Sharda Cropchem 3 ke Wave III mein dikh raha hai jo 1350 (800 ki maujooda keemat se ~60%) ki taraf badh raha hai. Wave 3 1500 tak bhi jaa sakta hai; jiskee sameeksha 3 ke Wave V mein 1100 se upar band hone ke baad ki jaa sakti hai. Pichhle FY ki tulana mein behatar margin ke saath haal ke Q2 ke nateeje achchhe hain. Yah koi trade lene ya nivesh karne ki salah nahin hai. Kripya apna vishleshan svayan karen. Aur mujhe galat hone ka adhikaar hai.
NSE:SHARDACROPLong
by DhandhaPaani
#Nifty directions and levels for November 11th.Good morning, friends! 🌞 Here are the market directions and levels for November 11th. Market Overview: The global markets are maintaining a bullish sentiment (based on the Dow Jones), while our local market is displaying a moderately bearish outlook. Today, we might see the market open with a neutral to slightly gap-down start, as indicated by the Gifty Nifty showing a decline of 70 points. In the previous session, both Nifty and Bank Nifty showed strong movement, but the fluctuations resembled a diagonal pattern. If the market starts off neutral, this diagonal trend may continue. Conversely, if the market experiences a significant decline, it could reach the bottom of the recent swing. > Currently, there are no structural changes; we remain in a range-bound market. Let’s take a look at the charts. Both Nifty and Bank Nifty are following a similar structure. Nifty Current View: The current view suggests that if the market finds support at the level of 24010 and gradually moves up, or if the market takes a solid pullback initially, then we can expect a minimum pullback of 38% to 50%. This is our first variation. Alternate View: The alternate view suggests that if the market sustains the gap down or declines solidly, then the correction will likely continue to the level of 78% to MDZ.
NSE:NIFTY
by Manickamtraders
2
Epigral Ltd for 30%+ gains; Strong Q2 resultsDate: 10 Nov’24 Symbol: EPIGRAL Timeframe: Daily Epigral (formerly known as Meghmani Finechem) seems to be in Wave V of 3 which is heading towards 2800 (33% from current price of 2100) as seen in the chart. There is a possibility of Wave V extending to 3000 which we can assess once it closes above 2500. Let’s keep a stop loss at 1840 on closing basis. Q2FY25 results on Saturday were good so the run up should continue. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. Epigral (jise pehle Meghmani Finechem ke naam se jaana jaata tha) 3 ke Wave V mein hai aisa lagta hai jo 2800 (2100 kee vartamaan keemat se 33%) ki taraf badh raha hai jaisa ki chart mein dekha gaya hai. Wave V ke 3000 tak badhane ki sambhaavana hai jiska aakalan hum 2500 se upar band hone par kar sakte hain. 1840 ke neeche closing basis stop loss rakhein. Shanivaar ko Q2FY25 ke nateeje achhe rahe to teji jaari rehni chahiye. Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karein. Aur mujhe galat hone ka adhikaar hai.
NSE:EPIGRALLong
by DhandhaPaani
#nifty directions and levels for November 8th.Good morning, friends! 🌞 Here are the market directions and levels for November 8th. Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market is showing a moderately bearish sentiment. Today, the market may open with a neutral start, as the Gifty Nifty is indicating a positive 10 points. In the previous session, both Nifty and Bank Nifty fell solidly, but structurally, they closed in between the swings. Whenever the market breaks the 38% Fibonacci level, we can consider that it's a ranging market. It could also be a range market. Due to global issues and FII selling, there is no clear pathway for a single direction. So, until a clear direction forms, the market could remain range-bound with a bearish bias. Today, we are going to see four variations. Let’s look at the charts. Bullish View: > The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low. > However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level. Bearish View: > The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%. > Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for November 8th.Bullish View: > The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low. > However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level. Bearish View: > The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%. > Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
NSE:BANKNIFTY
by Manickamtraders
#nifty directions and levels for November 7th.Good morning, friends! 🌞 Here are the market directions and levels for November 7th. Market Overview: The global market is showing a super bullish sentiment, while our local market has a moderately bullish sentiment. Today, the market may open with a negative start based on the Gifty Nifty, which is showing a decline of 100 points. In the previous session, both Nifty and Bank Nifty maintained a bullish bias. However, today, the Gifty Nifty is indicating a negative start, so what’s next? Experts are saying (for Indian market) that due to the new US president, the market may experience a minor correction. However, technically we want some additional confirmation. As of now, we do not have that confirmation, so we are still in a moderately bullish bias. Let’s explain this in the charts. Structurally, both Nifty and Bank Nifty share the same sentiment. Current View: The current view indicates that if the market opens with a gap down, it may reach the 38% level on the downside. Structurally, it won’t go beyond that level. If the market finds support there, then the rally will continue with some consolidation. This is our first variation. Alternate View: The alternate view is similar to the current view. If the initial market experiences a sharp pullback, then the rally is likely to continue. This is our alternate view. Note: Here, the notable point is that if the market sustains the gap down and breaks the 38% Fibonacci level on the downside, it may turn into a ranging market. However, if we look at it from an aerial view, there is a downtrend.
NSE:NIFTY
by Manickamtraders
1
#banknifty directions and levels for November 7th.Current View: The current view indicates that if the market opens with a gap down, it may reach the 38% level on the downside. Structurally, it won’t go beyond that level. If the market finds support there, then the rally will continue with some consolidation. This is our first variation. Alternate View: The alternate view is similar to the current view. If the initial market experiences a sharp pullback, then the rally is likely to continue. This is our alternate view. Note: Here, the notable point is that if the market sustains the gap down and breaks the 38% Fibonacci level on the downside, it may turn into a ranging market. However, if we look at it from an aerial view, there is a downtrend.
NSE:BANKNIFTY
by Manickamtraders
Affle India for 60%+ gainsDate: 6 Nov’24 Symbol: AFFLE Timeframe: Weekly Affle India seems to be in Wave V of 3 which may end around 1850. And after correction in Wave IV, the price is likely to head to 2450 (60%+ from where Wave IV ends) as seen in the chart. Once the prices go past 2000, five waves of Wave 5 will be more visible. Wave 5 could even extend and head towards 2800+; will review this as waves develop. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. HINGLISH VERSION Aisa chart dekhke lagta hai ki Affle India 3 ki Wave V mein hai jo 1850 ke aaspaas samaapt ho sakti hai. Aur Wave IV mein giraavat ke baad, keemat 2450 (60%+ jahaan Wave IV samaapt hotee hai) tak pahunchane kee sambhaavana hai. Ek baar jab keematen 2000 ke paar chalee jaengee, to Wave 5 kee paanch waves adhik dikhaee dengee. Wave 5 extend bhi ho sakta hai aur 2800+ kee taraf badh sakta hai; wave vikasit hone par isakee sameeksha karenge. Yah koee trade lene ki salah nahin hai. Kripya apana vishleshan khud karein. Aur mujhe galat hone ka adhikaar hai.
NSE:AFFLELong
by DhandhaPaani
#Banknifty directions and levels for November 6th."Structurally, we won’t expect more than a 38% correction, so once the market finds support there, we can expect further continuation of the rally with some consolidation. You can apply this same sentiment even if the market consolidates in today’s range. If that happens, the market may go up further. On the other hand, if it breaks the 38% Fibonacci level on the downside, we can consider that the target for the range market should be 50% and 78% on the downside."
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for November 6th."Structurally, we won’t expect more than a 38% correction, so once the market finds support there, we can expect further continuation of the rally with some consolidation. You can apply this same sentiment even if the market consolidates in today’s range. If that happens, the market may go up further. On the other hand, if it breaks the 38% Fibonacci level on the downside, we can consider that the target for the range market should be 50% and 78% on the downside."
NSE:NIFTY
by Manickamtraders
State Bank of India for 40% gainsDate: 4 Nov’24 Symbol: SBIN Timeframe: Weekly SBI seems to be in Wave IV of 3 which could likely come down towards 750-740 levels. As seen in the chart, Wave V of 3 could then move up towards 1050 (~40% from where Wave IV ends). Banks have been largely consolidating in this market fall and could lead the next rally up. Please note nothing in the market is a given. Be very watchful. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. HINGLISH VERSION Aisa lagta hai ki SBI 3 ki Wave IV mein hai jo lagbhag 750-740 ke star par samaapt ho sakti hai. Jaisa ki chart mein dikh raha hai, 3 ki Wave V phir 1050 ki taraf badh sakti hai (jahaan Wave IV samaapt hoti hai vahaan se ~40%). Bazaar ki is giraavat mein Banking shares bade paimaane par majaboot hi rahe hain aur agli teji ka netritva kar sakte hain. Kripya dhyaan den ki bazaar mein kuch bhi pakka nahin hota. Hamesha satark rahein. Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karen. Aur mujhe galat hone ka adhikaar hai.
NSE:SBINLong
by DhandhaPaani
1
Nifty directions and levels for November 4th.Good morning, friends! 🌞 Here are the market directions and levels for November 4th. Market Overview: In the short term, both global and local markets are showing moderately bearish sentiment. However, today the Nifty is indicating a neutral start. In the previous session, both Nifty and Bank Nifty closed with slight positive gains due to the Muhurat trading. However, the overall structure suggests that there is a clear range-bound market. Therefore, the market may continue to trade within this range today. We can analyze this further by looking at the charts. Nifty Bullish View: From a bullish perspective, if the market experiences a pullback initially, we can expect a continuation of that pullback, reaching a minimum of 78% of the previous high. This is a usual target for range-bound markets. Additionally, if the market consolidates around the 78% level, the breakout continuation could be significant. Nifty Bearish View: The bearish view suggests that if the market declines initially, it could reach a minimum of the minor demand zone or the Fibonacci level of 23% if it breaks below 24,214.
NSE:NIFTY
by Manickamtraders