NIFTY Bullish Harmonic Nifty 23520 after corrective wave from 24300 to 23500 there is EMA support, Trendline support, RSI oversold and bullish harmonic pattern can bounce as impulsive till 23750,23940,24100
Elliott Wave
#Nifty directions and levels for November 14th.Good morning, friends! 🌞 Here are the market directions and levels for November 14th.
Market Overview:
There are no significant changes from the previous session. The global markets are showing a moderately bearish sentiment (mainly based on the Dow Jones), and our local market also indicates a bearish trend. Today, the market may open neutral to slightly gap-down, as SGX Nifty is showing a negative move of 30 points.
In the previous session, the market continued its correction solidly. Structurally, today's correction is expected to continue if it breaks the previous bottom. Otherwise, it may consolidate between the previous bottom and the 38% Fibonacci level. A reversal could be anticipated only if it breaks either the 20-day EMA or the 38% Fibonacci level. Additionally, there are two sub-waves forming—a fourth consolidation wave and a fifth corrective wave—so today’s movement may reflect these structures. Let's illustrate this on the chart.
Nifty Current View:
> The current view of Nifty indicates that if the market undergoes minor consolidation or if it breaks the previous bottom solidly, then the correction is likely to continue toward the levels of 23435 to 23245.
> Notably, if the market corrects, it could be a minor fifth wave; thus, there is a possibility of forming a diagonal pattern. If it forms and subsequently breaks out of the pattern, we can consider that a minor reversal to the upside.
Alternate View:
> On the other hand, the alternate view suggests that if the market initially takes a pullback, we can expect a maximum pullback of 23% to 38%. After that, if it rejects either the 23% or 38% Fibonacci level, then the correction will likely continue.
> However, structurally, it could be a fourth sub-wave, so some consolidation could be possible between the previous low and the Fibonacci level of 38%.
> Notably, structurally, it won’t break the Fibonacci level of 38%; in case it does, we can consider that a minor bullish reversal.
#Banknifty directions and levels for November 14th.Bank Nifty Current View:
The situation is similar to the Nifty structure. If the market undergoes minor consolidation or if it breaks the previous bottom solidly, then the correction will likely continue toward the level of 38% to 49283. Furthermore, a diagonal pattern is also possible; therefore, we can follow the same instructions mentioned in the Nifty sentiment.
Alternate View:
> The alternate view indicates that if the market initially takes a pullback, we can expect a maximum pullback of 38% to 50%. After that, if it rejects the 38% Fibonacci level, then the correction will likely continue.
> The pullback yesterday appeared to be a solid candle, so if the market takes a strong pullback, it could easily break the 38% Fibonacci level. However, if the market breaks the 38%, we could consider that a minor reversal.
Gold next moveThe current fall in GOLD is Zig-zag in nature.
The fall may continue upto 61.8%
However, this is wave A of Zig-zag. Wave B may lead the Gold price up for some extend. But ultimately it will come to 61.8% forming wave C.
This analysis is based on Elliott Wave theory.
This analysis is for educational purpose only.
NIFTY... KEEP INVESTING...Guys... I am sharing my view on the Elliot waves in Nifty.
The bullish pattern is intact.
We are currently in the 3rd primary wave. Of the five intermediate waves in the primary wave 3, nifty is right now in wave (4) correction.
A quick and rapid wave (5) is likely to start at the end of wave 4. Though Nifty is at 200 EMA right now, I feel the strong support zone is around 22700 levels.
I won't be surprised if Nifty can fall around 800 points from here.
Keep investing in parts and add more when Nifty goes below 23000.
The market is always right..! Trade with appropriate stop-loss.
Bank Nifty - Will This Be Wave E towards 52000+ As discussed last .....BankNifty unfolding a triangle & again took support close to 51000 which is most important support zone 50800-51000
Can we get Wave-E upside & achieve 800-1000 points target upside
Strictly -----No Buying ------If Index drops below 51000 ...................
Regards,
WaveTalks
Abhishek
#Nifty directions and levels for November 13th.Good morning, friends! 🌞 Here are the market directions and levels for November 13th.
Market Overview:
The global market is showing moderately bearish sentiment (based on Dow Jones only), and our local market is exhibiting a bearish sentiment as well. Today, the market may open with a neutral to slightly gap-down start, based on the Gifty Nifty showing a negative 30 points.
In the previous session, both Nifty and Bank Nifty experienced a solid correction. Structurally, we can expect a further slight correction, and the sub-wave analysis supports this. Currently, on the other hand, we are at the bottom of the range. Additionally, the RSI shows divergence, indicating a probability for a bounce back. Let’s explain this in the chart.
Both Nifty and Bank Nifty have the same structural sentiment.
Current View:
The current view suggests that if the market sustains the gap-down, it could experience a minor bounce back around MDZ. However, this would only be a minor bounce back; after that, if it breaks the previous bottom, then the correction is likely to continue.
Alternate View:
The alternate view indicates that if the market opens with a gap-up, or if the initial market takes a solid pullback and breaks the 20 EMA, it may hold a range-bound sentiment. This means the market could move to the top of the range. Targets are expected to be a minimum of 38% to 78% of the swing.
#Banknifty directions and levels for November 13th.Current View:
The current view suggests that if the market sustains the gap-down, it could experience a minor bounce back around 50,865 or DZ. However, this would only be a minor bounce back; after that, if it breaks the previous bottom, then the correction is likely to continue.
Alternate View:
The alternate view indicates that if the market opens with a gap-up, or if the initial market takes a solid pullback and breaks the 20 EMA, it may hold a range-bound sentiment. This means the market could move to the top of the range. Targets are expected to be a minimum of 38% to 78% of the swing.
NIFTY downside targetsIf we count a single leg for NIFTY, (recent move), we can see Flat Correction.
Wave B is returning from the golden ratio of 61.8%
We will use the Fib extension to find the target of wave C. We can see that the minimum target of 61.8% has already been crossed. Price now moving for the Rule of equality i.e. 100%.
But we can see several Fib clusters near the price range of 23667.40 and 23621.35
So we can expect wave C up to these zones.
This analysis is done using Elliott Wave theory and Fibonacci.
This analysis is for educational purposes only.
#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.
#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.
BTCUSD Bearish harmonic Pattern_BITCOINHello Everyone,
BTCUSD_ bitcoin has formed bearsih harmonic pattern, with RSI negative Divergence.
price Rise nearly 20% in just 1 week of US election CMP 85500 lifetime high of bitcoin.
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.
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.
pole&flag in MADHUSUDAN MASALAwe can see pole n flag formation happening here. length of the pole if matched with the current breakout we can see a target of 276 on charts. this is a Gujarat based sme company making spices
#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.
#Banknifty directions and levels for November 11th.Bank Nifty Current View:
It looks like Nifty sentiment. If the market finds support around 51338 and gradually moves up, or if there is a solid pullback initially, then we can expect a minimum pullback of 38% to 50% in the minor swing.
Alternatively, if the market sustains the gap down or declines solidly, then the correction will likely continue to the levels of 51189 to 51000.
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.
#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.
#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.
#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.
#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.
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.
