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Elliott Wave

RAIN Industries not a bullish setupRain Industries is one stock where retails are more optimistic than the promoter but techinically their are 3 major red flags in price action 1 It has not crossed 61.8% retracement of fall from ATH to bottom 2020 2 The rise from lows of 2020 is not impulsive (god knows how some people are marking impulsive rise from 2020 bottom) 3 It has not crossed 61.8% retracement of fall from 2021 top to recent bottom yet Why people try to force counts when we see every move is over lapping their are more than 5000 stocks traded on NSE still people are forcing their own views in name of technicals & a sudden price action in direction of their trend they count themselves as doing miracle my personal take is when its difficult to fit Elliott counts stay away from the Stock.
NSE:RAINShort
by churiwalvikram
Gold / xauusd (Neowave Update)Degree full forms- L1 stand for Long term wave 1 and so on L1 stand for Medium term wave 1 and so on s1 stand for short term wave 1 and so on Hello Everyone Welcome to Trading Idea, This is Short Term Forecast Time Frame- 4hrs # Gold has completed first cycle and we are in ending of wave 2 # Stoploss level for this or SC3 cycle will be 2059, till than we will have bearish cycles I hope you are enjoying my forecast, if you love the content than kindly like and share it with your friends . Also keep following us for more neowave trading ideas. Thank You Medium Term Forecast Long Term Forecast-
FOREXCOM:XAUUSD
by Neowave-forecast
#Nifty directions and levels for FEB 16th#Nifty Good morning! the market directions for February 16th. It seems like there is an overall positive sentiment in the global market, with support from the Dow Jones. Locally, the market sentiment is also moderately bullish, with a potential gap-up start indicated by Giftnifty showing +60 points. Regarding Nifty, it's mentioned that there has been a breakout structure following consolidation and that it might be in the 5th impulse wave, which is considered a distribution wave. There's an anticipation of a potential ABC correction if the market rejects around the immediate resistance or if there's a sharp decline in the initial market. The minimum requirement for the ABC correction is specified to be within the Fibonacci levels of 23 to 38%. Alternatively If the gap-up sustains or breaks the immediate resistance at 22,000, the expectation is for a further rally continuation. In this case, the market could reach a supply zone
NSE:NIFTY
by Manickamtraders
1
#Nifty directions and levels for FEB 15thGood morning, friends! Here are the directions for February 15th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a moderately bullish trend. It might open with a gap-up start, as indicated by Giftnifty showing +80 points. Nifty had a fantastic rally in the last session, so structurally it will continue further. Even though it may face rejection around the immediate resistance, if it does, we can expect a maximum 23 to 38% Fibonacci correction. After that correction, if it finds support around 38%, then we can expect a range market to pullback continuation. This sentiment is also applicable for initial market rejection. Alternatively, we can expect a correction only if it breaks the Fibonacci level 50%, because if it corrects, it might be in the 4th wave, which is a consolidation wave with a maximum correction level of 50%. Therefore, we mention that the correction will occur only if it breaks the Fibonacci level 50%.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for FEB 15thBank Nifty is a little different from Nifty. The current pullback is violating the wave rule, so it might be in a leading diagonal. If it's a leading diagonal, then it won't take a sharp rally. If it opens with a gap-up, then it may reject around 78%, and then we can expect a minimum correction of 38%. If it breaks 38%, then we take a breakout short position and fix our target at 50 and 61%. This is also applicable for initial market rejection. Here, the trend reversal will occur only if it breaks yesterday's low; then only can we consider this a correction.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for FEB 14"Good morning, friends! Here are the directions for February 14th: The global market sentiment is bearish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing -190 points. Nifty had a solid pullback in the last session, but today Giftnifty indicates a negative 190 points, so I don't know exactly where it will open. In my personal opinion, if it finds support around the 61% followed by the gap-down, we can consider this as the 5th wave of the diagonal. It's the final wave of the correction structure, so we can expect a further pullback followed by rejection. However, if it consolidates or breaks this level, then the correction might continue. Alternatively, if it doesn't break the immediate support level of 21605, then it might consolidate for a rally continuation."
NSE:NIFTY
by Manickamtraders
#Nifty directions and level for FEB 13Good morning, friends! Here are the directions for February 13th: The global market sentiment remains moderately bullish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a slightly gap-up start, as indicated by Giftnifty showing a +50. Nifty has some corrective banding waves. If the initial market declines, then we can expect a further bit of correction. After that, if it takes support around 21561 or 61%, then we can anticipate a minimum of a 23% to 38% pullback wave. On the other hand, if it consolidates or breaks that level solidly, then the correction will continue. Alternate view: However, in the last trading session, Nifty fell 250, and the RSI shows divergence with the formation of a minor diagonal pattern. So, if the gap-up sustains, then that pullback will continue with minor consolidations. However, the fib level of 38% is a major resistance zone, so if it rejects sharply, we can expect further correction.
NSE:NIFTY
by Manickamtraders
1
#Banknifty directions and level for FEB 13There are some corrective waves bending, so if the initial market declines, we can expect minor correction initially. After that, if it takes support around 44500 or the swing low, then we can expect a 23% to 38% pullback wave. On the other hand, if it consolidates or breaks that level solidly, then the correction will continue. Alternate view: Banknifty also has an RSI divergence. So, if the gap-up sustains, then we can expect pullback continuation with minor consolidation.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty Neowave Update (13-02-2024)Degree full forms- L1 stand for Long term wave 1 and so on L1 stand for Medium term wave 1 and so on s1 stand for short term wave 1 and so on Hello Everyone, Welcome to Trading Idea, This is a short term forecast but trade always in direction of bigger cycles. Any last minute update will be done on our tradingview live links. I hope you are enjoying my forecast, if you love the content than kindly like and share it with your friends. Also keep following us for more neowave trading ideas. Thank you Medium Term Forecast
NSE:BANKNIFTY
by Neowave-forecast
State Bank of India - Is a five wave advanceSBI, or the state bank of India, first formed a triangle and then a five-wave move higher. The triangle itself is a pattern that proceeds the final move in a particular direction. By that nature, it mostly occurs in wave B or wave 4 of a trend. So, irrespective of what the triangle meant, the next rally is a five-wave move that can end something. A higher degree chart is needed to understand what it can end. If we close down for the day, it can be presumed that wave 5 of 5 was completed at today's high. This would hold true till the high is not surpassed. If it is surpassed, we would extend wave 5 of 5 to an extended rally .
NSE:SBIN
by indiacharts
Neowave Bank Nifty UpdateDegree full forms- L1 stand for Long term wave 1 and so on L1 stand for Medium term wave 1 and so on s1 stand for short term wave 1 and so on Hello Everyone, Welcome to Trading Idea, This is a short term forecast but trade always in direction of bigger cycles. Any last minute update will be done on our tradingview live links. I hope you are enjoying my forecast, if you love the content than kindly like and share it with your friends. Also keep following us for more neowave trading ideas. Thank you Medium Term Forecast
NSE:BANKNIFTYLong
by Neowave-forecast
6
#Nifty Direction and levels for FEB 12Nifty has formed a solid pullback structure around the 50% Fibonacci level. Structurally, it might continue, but it should break the Fibonacci level of 38%. If the market breaks the 38% Fibonacci level with a solid structure, then we can expect further pullback continuation with minor rejection. However, if the market opens with a gap-down or rejects around 21842, then structurally, we can expect a range market. The continuation of the correction is only expected if it breaks the swing low.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for FEB 9.Good morning, friends! Here are the directions for February 9th: The global market sentiment remains moderately bullish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a neutral to slightly gap-down start, as indicated by Giftnifty showing a -25. Nifty had a sharp correction in the last session. So, if the market breaks or consolidates around the Fibonacci level of 50%, then we can expect the correction to continue. However, my personal opinion is that if the market opens with a gap-down, it may form a diagonal pattern. It's a distribution wave, so it might move with less volume. Once the market finds support around 50%, then we can expect a minimum of a 23% to 38% pullback wave. Alternatively, if the initial market takes a sharp pullback, then it might consolidate between yesterday's low and the Fibonacci level of 38%. We can expect further pullback only if it breaks the 38% level.
NSE:NIFTY
by Manickamtraders
#banknifty directions and levels for FEB 9.Banknifty also experienced a sharp correction in the last session. Here, if the market breaks the previous day's low, then we can expect further correction. However, there's a demand zone, so if the market rejects there, we can expect a minimum of a 23% to 38% pullback wave. Alternatively, if the market breaks or consolidates in the demand zone, then the correction will likely continue. Alternatively, if the initial market takes a sharp pullback, then it might consolidate between yesterday's low and the Fibonacci level of 38%. We can expect further pullback only if it breaks the 38% level."
NSE:BANKNIFTY
by Manickamtraders
#nifty directions and levels for FEB 8th."Good morning, friends! Here are the directions for February 8th: The global market sentiment remains moderately bullish, supported by the Dow Jones, while our local market sentiment shows a similarly bullish trend. It might open with a gap-up start, as indicated by Giftnifty showing a +50. Today, we also have an important event, the RBI monetary policy around 10 am. As usual, the market might follow the event sentiment. However, my direction is: Nifty has a range market structure. So, initially, the market might undergo some consolidation. After that, if the market breaks the previous resistance, then we can expect a sharp rally. We can anticipate a correction only if it breaks the swing low; otherwise, it may maintain a range market structure. However, if the initial market breaks the previous day low, then we can expect a minimum of 218212 to 217997.
NSE:NIFTY
by Manickamtraders