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Elliott Wave

turnaround stock INDOSTAR CAPITALIndostar Capital Finance Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 4,248.40 Crore) operating in NBFC sector. Indostar Capital Finance Ltd. key Products/Revenue Segments include Interest, Income From Financial Services, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2024. For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 352.07 Crore, down 10.72 % from last quarter Total Income of Rs 394.34 Crore and up 12.34 % from last year same quarter Total Income of Rs 313.39 Crore. Company has reported net profit after tax of Rs 31.68 Crore in latest quarter. As on 30-09-2024, the company has a total of 13.61 Crore shares outstanding. Indostar Cap. Fin. Share Price Today is Rs. 312.20 as on 06 Dec, 2024, 03:57 PM IST. On previous day, the Indostar Cap. Fin. Share Price (NSE) closed at Rs. 285.35, featuring among the most traded securities on the National Stock Exchange.
NSE:INDOSTARLong
by TechnicalAnalystSucrit
#Banknifty directions and levels for December 6th.Bank Nifty Current View: The sentiment for Bank Nifty looks similar to that of Nifty. If the market takes an initial pullback, it could reject each and every resistance level, indicating that it may form a diagonal pattern. This is a time adjustment and distribution pattern; therefore, once the pattern breaks below the trend line, we can expect a reversal. This is the basic structure. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, the market will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for December 6th.Good morning, friends! 🌞 Here are the market directions and levels for December 6th. Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market also exhibits a bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the Gift Nifty is showing a positive 30 points at 8:00 AM. In the previous session, both Nifty and Bank Nifty had significant movements but ended positively. What about today? Currently, we are in a positive bias; therefore, if this continues, we can expect a diagonal pattern, which means the market may go up, but not in a straight line. On the other hand, if the market starts negatively, the previous day's range will likely continue. This is the basic structure, which I will explain in the chart. Both Nifty and Bank Nifty have similar sentiments. Nifty Current View: The current view suggests that if the market experiences an initial pullback, it could reject each and every resistance level, indicating that it may form a diagonal pattern. This is a time adjustment and distribution pattern; therefore, once the pattern breaks below the trend line, we can expect a reversal. This is the basic structure. Alternate View: The alternate view suggests that if the market initially declines, it could reach a minimum of 24,481 to 24,416, which is a major support level. Until this support is broken, the market will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:NIFTY
by Manickamtraders
1
#Sensex directions and levels for December 4th. Current View: The sentiment looks similar to that of Nifty. If the market takes an initial pullback, it could reach a minimum 81202 or 50%. After that, if it gets rejected there, we could see a correction of 23% to 38% in the minor swing. Conversely, if it breaks through or consolidates at this zone, the rally is likely to continue. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, it will maintain a bullish bias. If it breaks this level, we can expect a correction.
BSE:SENSEX
by Manickamtraders
#Nifty directions and levels for December 4th.Good morning, friends! 🌞 Here are the market directions and levels for December 4th. Market Overview: There are no significant changes happening. The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market shows a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the Gift Nifty is showing a positive 10 points at 8:00 AM. In the previous session, both Nifty and Bank Nifty had a solid pullback. The structure and sentiment remain the same as we discussed in the previous session. Let's look at this in the charts. Both Nifty and Bank Nifty have a similar sentiment. Nifty Current View: The current view suggests that if the market takes an initial pullback, it could reach a minimum of 24,629. However, the previous day's movement shows RSI divergence, indicating weakening momentum. If this divergence continues when it reaches 24,629, we could see a correction of 23% to 38% in the minor swing. Conversely, if it breaks through or consolidates at this zone, the rally is likely to continue. This is the basic structure. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, it will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:NIFTY
by Manickamtraders
3
#Banknifty directions and levels for December 4th.Bank Nifty Current View: The sentiment looks similar to that of Nifty. If the market takes an initial pullback, it could reach a minimum supply zone. After that, if it gets rejected there, we could see a correction of 23% to 38% in the minor swing. Conversely, if it breaks through or consolidates at this zone, the rally is likely to continue. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, it will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
BankNifty - 900 Points Bounce - Leading Diagonal Scenario ?As we discussed on 1st Dec 2024, an upside move towards the recent high was anticipated. If the recent high holds...then what? I'm glad to see we got a strong 900+ points bounce in Bank Nifty Index since Monday, 2nd Dec 2024. This aligns exactly with our weekend discussion. Elliott Wave Analysis (Advanced School of Thought) This could be a classic market scenario to include in my upcoming book. If the index halts below 52760, we might be witnessing a Leading Diagonal Scenario: From the highs of 52760's Referencing the bible book of Elliott Wave by Frost & Prechter (Page 41, Figure 1-21): Snapshot captured at 11;49 am / 3rd Dec 2024 Leading Diagonals occur at the start of a decline. They can retrace up to 99.99% but cannot exceed 100%, which would be 52760 in this case. Current Scenario: A Leading Diagonal appears to be forming from the highs of 52760. It has retraced until today's high of 52748. Can This Be a Double Top and Leading Diagonal Scenario at 52760? Line in the Sand (Stop Loss): The index cannot cross above 52760. If it does, the pattern is invalidated, and we’ll need to reassess. Market Whispers! ...Can You Hear Them? Regards, WaveTalks Abhishek
NSE:BANKNIFTYShort
by WaveTalks
5
#Nifty directions and levels for December 3rd.Good morning, friends! 🌞 Here are the market directions and levels for December 3rd. Market Overview: There are no significant changes happening. The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market has a moderately bullish sentiment. In the previous session, Nifty had a solid pullback and ended around the top of the swing, but Bank Nifty is still around the 38% mark. The structures are different here. In my personal opinion, if the market takes a solid pullback, we can expect a long rally today. On the other hand, the same could happen on the downside, which means if it declines or rejects around the immediate resistance level, it could turn into a flat correction, as well as a sharp decline correctional leg. Let’s explain this on the chart. Nifty Current View: The current view suggests that if the market takes an initial pullback, it could reach a minimum of 38% to 24,485. After that, if it consolidates or breaks this level, the rally will likely continue. Conversely, if it rejects this level, apply the Fibonacci levels to the minor swing. If it breaks below the 38% Fibonacci level during this rejection, it may indicate a reversal, while maintaining above this level will keep the bullish bias. This is the basic structure. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, it will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for December 3rd.Bank Nifty Current View: It looks similar to Nifty's sentiment. If the market takes an initial pullback, it could reach a minimum of 61% to 78%. After that, if it consolidates or breaks this level, the rally will likely continue. Conversely, if it rejects this level, it may consolidate between the previous low and the upcoming high. If it breaks below the bottom of the swing, the correction will continue. Conversely, if it breaks the 61% level on the upside, the rally will continue. Alternate View: The alternate view suggests that if the market initially declines, it may indicate a range-bound market, which means it may consolidate between the previous low and the opening price. After that, if it breaks below the bottom of the swing, the correction will continue. Conversely, if it breaks the 61% level on the upside, the rally will continue.
NSE:BANKNIFTY
by Manickamtraders
#Sensex directions and levels for December 2nd. Current View: The current view indicates that if the market starts neutral or experiences an initial decline, the immediate zone(red) will act as support. If it consolidates or breaks this level, we can expect a continuation of the correction, with a minimum target of 79136 to the minor demand zone. This is the basic structure. However, if it doesn’t break this level, it could see a pullback. Alternate View: The alternate view suggests that if the market sustains the gap-up and breaks the previous high, it could reach the 80170 Fibonacci level on the upside, which is a major resistance. Until we break this level, we cannot expect a continuation of the rally. If it breaks, the rally will continue; conversely, if it is rejected, it could turn into a range-bound market.
BSE:SENSEX
by Manickamtraders
#Nifty directions and levels for December 2nd.Good morning, friends! 🌞 Here are the market directions and levels for December 2nd. Market Overview: There are no significant changes happening. The global market is maintaining a bullish sentiment (based on Dow Jones only), while our local market has a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on Gifty Nifty showing a positive 50 points. In the previous session, both Nifty and Bank Nifty experienced minor pullbacks. Structurally, Nifty closed at the mid-level of its minor swing, while Bank Nifty closed around the 38% Fibonacci level. What does this indicate? >Nifty suggests a range-bound market sentiment. >Bank Nifty reflects a slightly bearish sentiment. Overall, this suggests a moderately bearish outlook, meaning we cannot expect a rally continuation until the previous highs are broken. Let's explain this further using charts. Nifty Current View: The current view indicates that if the market starts neutral or experiences an initial decline, the 38% level to 24031 will act as support. If it consolidates or breaks this level, we can expect a continuation of the correction, with a minimum target of 23941 to the minor demand zone. This is the basic structure. However, if it doesn’t break this level, it could see a pullback. Alternate View: The alternate view suggests that if the market sustains the gap-up and breaks the previous high, it could reach the 78% Fibonacci level on the upside, which is a major resistance. Until we break this level, we cannot expect a continuation of the rally. If it breaks, the rally will continue; conversely, if it is rejected, it could turn into a range-bound market.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for December 2nd.Bank Nifty Current View: The current view indicates that until we break the previous low, we cannot expect a correction. If it breaks, we can expect a minimum of 51656 to 51461. On the other hand, if it doesn’t break the previous low, consolidation will likely continue. Alternate View: The alternate view suggests that if the market sustains the gap-up and breaks the 38% Fibonacci level, it could reach the 50% Fibonacci level on the upside. This is a major resistance; if it breaks this level, the rally will continue to a minimum of the 61% Fibonacci level at 52551. Conversely, if it is rejected, it could turn into a range-bound market or a continuation of the correction.
NSE:BANKNIFTY
by Manickamtraders
2
PI INDUSTRIES good to buy?The daily chart of PI INDUSTRIES shows that the stock is in wave 4 of an impulse. Wave 3 is a terminal impulse in this case as it is less than 161.8% (see fib extension in green). And as per the rule, wave 4 of any terminal impulse can overlap with wave 1. Also, wave 4 can retrace to 50%. We have done detailed counting, and we can see that the price is near 50% of the fib retracement of the impulse. At this level, we can see wave C of wave 4 is standing at 127% extension. It is possible that the price can fall a little further up to 161.8% extension. (See fib extension in blue). The conclusion is that an aggressive trader can enter between the zone of 50% (see in black) fib retracement and 161.8% (see in blue) fib extension. For conservative entry, one can wait for the price to break and sustain above 38.2% (see in black). The stoploss for both entries will be below 61.8% (see in red). This is quite logical because wave 4 will never close below 61.8% Meaning, the 61.8% level is an invalidation point for all this counting and the price will fall further if it breaks 61.8% This analysis is based on Elliott wave theory and Fibonacci. This analysis is for educational purposes only. This is not any buying recommendation. Please always do your research before taking any trade.
NSE:PIINDLong
by theprofityogi
#Nifty directions and levels for November 29th.Good morning, friends! 🌞 Here are the market directions and levels for November 29th. Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market shows a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the Gifty Nifty indicates a positive 20 points. In the previous session, the market started with a positive bias, but this did not sustain, and it fell drastically. If we consider yesterday's structure, there is bearish pressure. However, the overall structure suggests that we might see a time adjustment movement, meaning we can expect a minor pullback and some consolidation today. I will explain this in the chart. Both Nifty and Bank Nifty are showing similar structural sentiment. Current View: The current view indicates that if the market starts neutral or if the initial market takes a pullback, we can expect a minimum pullback of 38% to 50%. Structurally, it could reject there. If that happens, we can expect some consolidation between the previous low and the pullback high. This is the basic structure, > but the notable point is the 38% Fibonacci level. the 38% Fibonacci level is critical because sharp corrections typically struggle to decisively break this level. Therefore, if the market pulls back but then breaks the previous low without breaching the 38% Fibonacci level, the correction is likely to continue, making this a key area to watch. Alternate View: The alternate view suggests that if the initial market declines and breaks the previous low, the correction will likely continue to the level of the minor demand zone, which is a support level. However, if it consolidates around there, the correction is likely to continue.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for November 29th.Current View: The current view indicates that if the market starts neutral or if the initial market takes a pullback, we can expect a minimum pullback of 38% to 50%. Structurally, it could reject there. If that happens, we can expect some consolidation between the previous low and the pullback high. This is the basic structure, > but the notable point is the 38% Fibonacci level. the 38% Fibonacci level is critical because sharp corrections typically struggle to decisively break this level. Therefore, if the market pulls back but then breaks the previous low without breaching the 38% Fibonacci level, the correction is likely to continue, making this a key area to watch. Alternate View: The alternate view suggests that if the initial market declines and breaks the previous low, the correction will likely continue to the level of 51,461, which is a support level. However, if it consolidates around there, the correction is likely to continue.
NSE:BANKNIFTY
by Manickamtraders
COCHIN SHIPYARD analysisCOCHIN SHIPYARD is forming wave of Zig-zag pattern. We can see the previous fall has 5 waves within it forming wave of Zig-zag. According to the rule, wave will go a minimum 23.6% and a maximum of 50%. Anyone in the buying side in COCHIN SHIPYARD, should exit at these levels, as the price will fall again to form wave of Zig-zag. Trend changes above 61.8% level. This analysis is based on Elliott Wave theory and Fibonacci. This analysis is for educational purposes only. This not buying recommendations. Please always do your research before you take any trade.
NSE:COCHINSHIPLong
by theprofityogi
#Nifty directions and levels for November 28th.Good morning, friends! 🌞 Here are the market directions and levels for November 28th. Market Overview: The global markets are maintaining a bullish sentiment (based on the Dow Jones only), and our local market is also exhibiting a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Nifty showing a positive 30 points. "There were no significant changes in the previous session. Both Nifty and Bank Nifty remained in consolidation yesterday as well." What about today? We are still within a range, so until we break out of this range, we shouldn't expect a significant move. However, some bullish patterns are forming, such as the flag pattern, cup and handle, and a triangle breakout structure. These indicate that if the market breaks the range, it could lead to a solid movement. Conversely, on the downside, flat patterns are forming, suggesting that if the market declines, we can expect further range continuation. Let’s explain this on the chart. Both Nifty and Bank Nifty are showing similar structural sentiment. Current View: The current view suggests that if the market declines, we can consider it a flat pattern, which means the range market will likely continue. Usually, flat patterns indicate a time correction, so even if the market declines, we can expect a pullback around the demand zone. This is our first variation. Alternate View: The alternate view suggests that a bullish cup and handle pattern is forming. If the market breaks above the top of the range, we can expect a rally continuation. However, we should note the breakout structure: if it breaks the range with a solid candle, we can expect a rally with some minor consolidation. On the other hand, if it breaks the range gradually, it may not rise significantly.
NSE:NIFTY
by Manickamtraders
4
#Banknifty directions and levels for November 28th.Current View: The current view suggests that if the market declines, we can consider it a flat pattern, which means the range market will likely continue. Usually, flat patterns indicate a time correction, so even if the market declines, we can expect a pullback around the demand zone. This is our first variation. Alternate View: The alternate view suggests that a bullish cup and handle pattern is forming. If the market breaks above the top of the range, we can expect a rally continuation. However, we should note the breakout structure: if it breaks the range with a solid candle, we can expect a rally with some minor consolidation. On the other hand, if it breaks the range gradually, it may not rise significantly.
NSE:BANKNIFTY
by Manickamtraders
Is correction over in MCX?In the 75-minute chart in MCX, we can see that flat correction is going to be finished. This can be expected as the 0-B trend line breaks in less than half a time. (See that the lowest point from the trend line is formed in 25 candles, and the trend line is broken in 10 candles.) This is the primary indication of the end of correction. A risky buying opportunity exists at the current market price. The stop loss for this will be below the end of wave C, i.e., below the 5820 level. This is not a buying recommendation. Please always do your own research before you take any trade. This analysis is based on Elliott wave theory and Fibonacci. This analysis is for educational purposes only.
NSE:MCXLong
by theprofityogi
#Nifty directions and levels for November 27th.Good morning, friends! 🌞 Here are the market directions and levels for November 27th. Market Overview: The global markets are showing bullish sentiment (based on the Dow Jones only), and our local market has maintained a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Nifty showing a positive 40 points. There have been no significant changes in the last session. In the previous session, both Nifty and Bank Nifty consolidated after the decline. What about today? If you look at the Nifty structure, there is consolidation after the long rally. Structurally, it may continue further until it breaks the consolidation range. If it breaks either to the upside or downside, we can follow that direction. This is the basic structure; let's look at it on the chart. Nifty Current View: Even if the market opens with a gap-up, it could decline initially. If this happens, the range market will continue between the previous high and the demand zone. In this case, if it breaks the demand solidly, then 24006 will act as strong support. Alternate View: The alternate scenario suggests that if the market sustains the gap-up and breaks the 24303 level, we can expect further pullback continuation to the 38% Fibonacci level. This is a major resistance. After the rally, if it rejects there, we can expect a minimum correction of 23% to 38% in the minor swing. On the other hand, if it sustains or breaks this level(38%), then the rally will likely continue.
NSE:NIFTY
by Manickamtraders