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Elliott Wave

#Banknifty directions and levels for April 2nd.Banknifty has also consolidated in the last session. If the market opens with a gap-down, then we can expect minor correction initially. After that, if it finds support around 23 or 38%, then we can expect consolidation for a rally continuation. On the other hand, if it breaks the fib level of 38%, then it may turn into a correction phase that will reach a minimum of 50 to 78%. Alternatively, if the gap-down doesn't sustain, then it could take a little bit of consolidation initially. After that, if it breaks the fib level of 78%, then we can expect further rally continuation.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for April 1st.Bank Nifty also reflects similar sentiment. Gift Nifty is indicating a gap-up start, suggesting potential consolidation initially. After that, if it breaks the previous high, we can expect the rally to continue. Alternatively, if the gap-up is not sustained, we can anticipate a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. However, if it breaks the 38% Fibonacci level, we could see a correctional wave ranging from 50% to 78%.
NSE:BANKNIFTY
by Manickamtraders
#nifty directions and levels for April 1st.Good morning, friends! Here are the directions for April 1st: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment indicates a similarly bullish trend. It might open with a neutral to slightly gap-up start, as suggested by Giftnifty, showing a +40 point. Nifty has recently rejected nearly all-time highs. I anticipate the market may undergo some consolidation given the gap-up start indicated by Gift Nifty. If the market breaks the previous high after this consolidation, the rally will likely continue. Alternatively, if the gap-up is not sustained, we can expect a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. On the other hand, if it breaks the 38% Fibonacci level, we can expect a correctional wave ranging from 50% to 78%.
NSE:NIFTY
by Manickamtraders
EURUSD Fall - Classic Equality Count in Play | C = A WaveDisclaimer: 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 13th Jan 2024 - B: Wave completed at the tops of 1.11393 Long Term Outlook From its low at 0.95358, we're seeing a leading diagonal wave signaling a potential long-term uptrend. As previously discussed, big gains might be ahead. Once short term completes & the base is formed as discussed in short term analysis, EURUSD will move into next sequence of wonder to behold waves which is Wave 3. Let us wait & have patience for magic to unfold. Short Term Outlook It's building a base, possibly dipping to 1.02-1.04, a 50-61.8% retracement from the 0.95358 low to the 1.12757 high in July 2023. Wave C = Wave A falls to 1.03118 falls in the projected zone suggesting a stronger possibility for Wave-C ending in the box zone 1.02 to 1.04 as discussed earlier From WaveTalks (Market Whispers!, Can you hear them) Abhishek
by WaveTalks
4
#Banknifty directions and levels for March 28thBanknifty has a similar sentiment. The 4th subwave has consolidated for a long time. So, if the market opens neutrally, then the 4th may continue further. After that, if it breaks the previous high, then we can expect the 5th wave, which may reach a minimum of the supply zone. If the 5th wave rejects there, then we can expect a correctional wave. On the other hand, if the market sustains around the supply zone, then the 5th may extend further. Notes: >Nifty and Banknifty have both been moving in a range-bound structure. >Giftnifty indicates a neutral start, so the possibility of the moment being the range market might continue further. >How can we trade in this range market? We can try to enter the minor fib level breakout and fix your target at the next fib level. >If you want to take an option trade, then you should know how much premium you will get in the particular range because the range market may not provide as much premium in the options contract. >Tomorrow is a trading holiday."
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for March 28th"Good morning, friends! Here are the directions for March 28th: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to slightly gap-down start, as suggested by Giftnifty, showing a -8 point. Nifty experienced a solid pullback in the last session, but the closing retraced a little bit. According to the wave structure, it could be in the 4th subwave. So, if the market opens neutrally, the 4th might consolidate a bit. After that, if it breaks the previous high, then we can consider that as a 5th subwave. It might reach a minimum of 22211 to 22262. If the 5th wave rejects there, then we can expect a correctional wave. On the other hand, if the market sustains around the 22262 level, then the 5th may extend further.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for March 27th.Bank Nifty also has the same sentiment. If the gap-down sustains and breaks the Fibonacci level of 50%, then we can expect a minimum of 61 to 78% correctional wave. After that, if it finds support there, it may undergo a minor pullback wave of the Fibonacci level of 38%. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the correction will likely continue. Alternatively, if the gap-down doesn't sustain and if the initial market experiences a sharp pullback, it might enter a range market between the previous high.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for March 27th.Good morning, friends! Here are the directions for March 27th: there is no significant difference between the last session. The global market trend is moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to slightly gap-down start, as suggested by Giftnifty, showing a -40 point. Nifty has consolidated despite opening with a long gap-down. Today also, Giftnifty indicates a gap-down start. So, if the gap-down sustains, we can expect a minimum of 61 to 78% Fibonacci correction. After that, if it finds support there, we can expect a minor 38% pullback wave. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the correction will likely continue. Alternatively, if the gap-down doesn't sustain and if the initial market experiences a sharp pullback, it might enter a range market between the previous high.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for March 26th.Banknifty also has the same sentiment. If the market opens with a gap-down, then the 38% to 50% zone will act as support. If it finds support there, we can expect a range-bound market. However, if it consolidates or breaks that level, then the correction will continue further. Alternatively, if the market opens with a gap-up and breaks the previous day's high, then first we should watch the breakout structure. If it has a solid structure, then we can expect sharp moves. If it breaks with less volume, then it may form a diagonal pattern, because if it breaks the previous high, then the 5th wave may continue. The 5th wave is a distribution wave.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for March 26th."Good morning, friends! Here are the directions for March 26th: The global market trend is moderately BEARISH, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to slightly gap-down start, as suggested by Giftnifty, showing a -30 point. If the Nifty opens neutral or gap-down, then the 38% Fib level will act as support. If it finds support there, we can expect a range-bound market. On the other hand, if it consolidates or breaks that level (the Fib level 38%), then we can expect a correctional wave of a minimum of 61 to 78%. Alternatively, if the market opens with a gap-up and breaks the previous day's high, then first we should watch the breakout structure. If it has a solid structure, then we can expect sharp moves. If it breaks with less volume, then it may form a diagonal pattern, because if it breaks the previous high, then the 5th wave may continue. The 5th wave is a distribution wave."
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for march 22.Good morning, friends! Here are the directions for March 22nd: The global market trend is bullish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to slightly gap-down start, as suggested by Giftnifty, showing a -40 point. Yesterday also Nifty closed at where it opened. Giftnifty suggests a gap-down start, so if it opens with a gap-down, we can expect a range-bound market initially because the wave indicates subwave 4th. If it finds support around the demand zone, then we can expect a range-bound market to rally continuation. Alternatively, if it breaks the demand zone, it will turn into a correction phase that may reach the Fibonacci level of 78% with minor consolidation.
NSE:NIFTY
by Manickamtraders
BANK NIFTY.... ELLIOT WAVES In recent days, we witnessed a decent fall in bank nifty. Thanks to the Elliot waves, we could make some decent profits in the market. I trust you've also been able to capitalize on these market movements. Looking ahead, I'd like to share my perspective on the possible market movement based on Elliot waves. I presume wave 3 is likely to end soon on the downside, somewhere near 45750. This is also the support line from where Bank nifty rallied earlier. The wave (v) of wave 3 is currently ongoing. This wave (v) moves in five waves, of which four waves are already completed. Tomorrow, I expect a gap-down opening or an initial fall that will complete wave (5) of wave (v) of wave 5. Can be easily understood from the chart. Bank nifty should resume upward movement in the form of a wave larger 4. I'm not planning to have short positions beyond 47500 and will enter long positions when I find a reversal. Trade carefully with appropriate stop-loss. Remember: The market is always right!
NSE:BANKNIFTYLong
by Stock-Holmes
4
BANK NIFTY.... THE FALL CONTINUES.....I sincerely appreciate all the support thus far! Here are my insights on the Bank Nifty through Elliot Waves. CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades. We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The entire fall can be viewed as one full Elliot wave, and our current position aligns with the 3rd wave, specifically within wave (iv) of wave 3 (Explained in the chart). Should my assessment prove accurate, we may anticipate wave (v) on Monday, potentially resulting in a substantial drop of 700 to 750 points. Following that, there can be a substantial recovery (wave 4). Happy Trading!
NSE:BANKNIFTYShort
by Stock-Holmes
#Nifty directions and levels for March 21st.Good morning, friends! Here are the directions for March 21st: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment also indicates a moderately bullish trend. It might open with a gap-up start, as suggested by Giftnifty, showing a +160 point. Nifty has closed near the open price, but the swing was very huge. Today, Giftnifty has shown a +160 gap-up start. So, if it sustains, then we can expect further rally continuation, reaching 22077 to 22177 with minor consolidation. Alternatively, if it rejects around the immediate resistance (22035 to SZ), initially we can expect a 23 to 38% minor correction. After that, if it breaks the 38% Fibonacci level, that's a sign of trend reversal, or if it finds support there, then it may experience some consolidation in the range market.
NSE:NIFTY
by Manickamtraders
BANK NIFTY.. WAVE COUNTING. We witnessed a 650 points fall in bank nifty, but it didn't reach the target levels predicted. Today's fall could be the Vth wave of wave 3. The day ended with wave 4. So, over one or two days, we should see a more significant fall in wave 5, taking the index to the support levels (45815 & 45660). The wave numbering is shown in the charts. The wave counting and the analysis will fail if the bank nifty moves upwards. I still have the bearish view fully intact. Trade with appropriate stop loss.
NSE:BANKNIFTYShort
by Stock-Holmes
2