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Elliott Wave

#Nifty directions and levels for FEB 23Good morning, friends! Here are the directions for February 23rd: The global market is bullish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-up start, as suggested by Giftnifty, showing a +40 point increase. Nifty had a solid pullback in the last session. So, if it sustains the gap-up, then structurally, we can expect further continuation. This is the basic structure. If the market consolidates around the supply zone, it may continue further when it breaks. Alternatively, if it rejects sharply around the supply zone, or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for a rally continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% for the correction target with minor pullbacks.
NSE:NIFTY
by Manickamtraders
#banknifty directions and levels for FEB 23Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation. The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and level for FEB 22Banknifty structurally differs a little from Nifty, but here also, we can expect a ranging market initially if the gap-up sustains. We can expect a rally continuation only if it breaks the previous high. On the other hand, if the gap-up doesn't sustain, then we can expect a minor correction here also. After that, if it finds support around the demand zone, the ranging market might continue. However, if it consolidates or breaks the demand zone solidly, then the correction will continue further.
NSE:BANKNIFTY
by Manickamtraders
#nifty directions and level for FEB 22"Good morning, friends! Here are the directions for February 22nd: The global market sentiment remains moderately bullish, supported by the Dow Jones, while our local market sentiment indicates a moderately bearish trend. It might open with a gap-up start, as suggested by Giftnifty, showing a +90 point increase. Nifty had fallen sharply in the last session; however, Giftnifty indicates a 90-point positive start. This sentiment suggests a ranging market. So, if the gap-up sustains, we can expect a ranging market initially. After that, if it breaks the previous high, then we can anticipate a continuation of the rally. This is the basic structure. Alternatively, if the gap-up doesn't sustain, then we can expect a minor correction. After that, if it finds support around 21920 to 50%, we can expect a minimum of a 23 to 38% pullback wave. However, if it consolidates or breaks that level solidly, then the correction will continue further.
NSE:NIFTY
by Manickamtraders
#nifty directions and levels for FEB 21Good morning, friends! Here are the directions for February 21st: The global market sentiment is still moderately bearish, supported by the Dow Jones, while our local market sentiment also shows a bullish trend. It might open with a neutral to slightly gap-up start, as indicated by Giftnifty, showing a +20 point increase. Nifty has reached a new high, but the RSI indicates that the strength of the rally is a bit weak. Even though my personal opinion is that the market might go up further with minor consolidation, structurally, it may undergo some consolidation around the supply zone (22252). After that, if it breaks this with a solid structure, then we can expect a further rally continuation. However, if the breakout fails, then it will turn into a correction phase. Alternatively, if the initial market rejects structurally, there is no big correction; it may undergo some range formation. We can expect correction only if it breaks the lower trend line.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for FEB 20Good morning, friends! Here are the directions for February 20th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment also shows a moderately bullish trend. It might open with a neutral to slightly gap-down start, as indicated by Giftnifty, showing a -30 point decrease. Nifty has reached a new all-time high, so we can expect further pullback only if it breaks the previous high. If it does, we can fix our target at the next extension levels. However, today, Giftnifty indicates a negative open. If the market opens with a gap-down, we can expect the 38% level to be a strong support. If it rejects there, we can anticipate a range market or a rally continuation. Alternatively, if it consolidates or breaks the fib level of 38%, then the correction might continue.
NSE:NIFTY
by Manickamtraders
#Nifty direction and levels for FEB 19th"Good morning, friends! Here are the directions for February 19th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment also shows a moderately bullish trend. It might open with a gap-up start, as indicated by Giftnifty, showing +30 points. The Nifty last session closed positively with minor consolidation. Sentimentally, this is positive, and the probability of movement also indicates consolidation. My personal opinion is also that, here movement will occur only if it breaks the supply zone effectively. If it happens, then we can expect further rally continuation. On the downside, also the same consolidation; if the rejection has a solid structure, then only we can expect a 23% to 38% correction.
NSE:NIFTY
by Manickamtraders
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