Nifty tomorrow prediction 2nd feb 2024 prediction.Nifty flat correction is a 3 waves corrective move labelled as ABC.Flat is a 3-3-5 structure.
Elliott Wave
#Nifty levels for 2024 union budget."Good evening, friends. Tomorrow, we have a big event: the Union Budget for 2024. It's a significant event, and the market will mostly move based on the sentiment surrounding that event, with less probability for technical analysis. So, I'm just sharing my Fibonacci levels on the one-hour chart. If you want, feel free to use it. And if you'd like to trade on this day, then only spend a partial amount of your capital because the market will provide plenty of opportunities in the upcoming days. All the best."
#Banknifty levels for 2024 union budget."Good evening, friends. Tomorrow, we have a big event: the Union Budget for 2024. It's a significant event, and the market will mostly move based on the sentiment surrounding that event, with less probability for technical analysis. So, I'm just sharing my Fibonacci levels on the one-hour chart. If you want, feel free to use it. And if you'd like to trade on this day, then only spend a partial amount of your capital because the market will provide plenty of opportunities in the upcoming days. All the best."
HDFC Bank (Bearish Cycle started)Hi
This is an long term forecast of bank nifty, as per neowave cycles bank nifty is making bearish cycles. For complete understanding of price action do watch the video.
#Banknifty directions and levels for January 31st#Banknifty
There are no changes in the Banknifty chart, and it still has a FLAG pattern structure. So, if the market breaks the previous high, we can expect a rally continuation. However, if the market rejects around 38%, then we can expect a minor correction of 23 to 38%.
An alternate view is important. If the market opens with a gap-down, the level of 45045 will act as a strong support. However, if it doesn't find support there, then we can expect an aggressive correction. This is because yesterday's consolidation may act as a supply, and the correction may occur with heavy volume
#Nifty directions and levels for January 31st#Nifty
Good morning, friends. As of January 31st, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a mixed trend. It might open with a neutral to slightly gap-up start based on Giftnifty, which shows +2.
According to Giftnifty, Nifty may open with a neutral start. If the market takes a pullback, it may reach the crucial Fibonacci level of 38% (21620). Structurally, this level is crucial as it indicates a ranging market. If the market breaks this level, only then can we expect a pullback of 61 to 78%. On the other hand, if it doesn't break this level, it may undergo further correction.
Alternatively, if the market experiences correction initially, the 21465 level will act as a support. After that correction, if it finds support at this level, then we can expect a minimum of 23 to 38% pullback. However, if it consolidates or breaks this level immediately, then we can expect correction continuation.
#Nifty directions and levels for JAN 30thNifty has a solid pullback structure. So, if the market opens with a gap-up, then we can expect further rally continuation. After that, if the rally rejects around the supply zone or 21917, then the following correction may take a 23 to 38% Fibonacci correction. Structurally, it might be in the 4th phase, so after that, if it takes support around there, then we can expect the 5th pullback wave. However, this sentiment will be applicable for a gap-down opening. After the gap-down, the market may correct a maximum of 23 to 38%. Also, we assume it may be the 4th structurally. After that, if it takes support around there, then we can expect the 5th pullback wave
#banknifty directions and levels for JAN 30thBanknifty has a structurally perfect FLAG pattern. So, if the market breaks the previous high, then we can expect a rally continuation. However, if the market rejects around 38%, then we can expect a minor correction of 23 to 38%. Alternatively, if the market opens with a gap-down, structurally there is no big correction. However, if it breaks 45045, then we can expect a correction. On the other hand, if it doesn't break 45045, then we can expect minor consolidation for pullback continuation
UPL-Wave 5(Starting)Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
• Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
• Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
Traders can thus use the information above to determine the point of entry and profit target when entering into a trade.
Long Target@21650ZigZag Correction ended now followed by impulsive move
with in impulsive move wave 1 and 2 are completed wave 3 in progress
wave 3 target @21650
#Nifty directions and levels for JAN29th#Nifty
Nifty has an expanding diagonal structure. If the market opens with a gap-up, then we can expect a minimum range of 21514 to 21546. After reaching this level, if the market consolidates or breaks through it, the pullback will likely continue, reaching 21619 to SZ. However, if it doesn't break the immediate resistance (21514 to 21546), then it might turn into a range market. Alternatively, if the market opens with a gap-down or if the initial market rejects sharply, we can expect initial range continuation. However, if the rejection shows aggression, it will reach the demand zone of 21108
#Banknifty directions and levels for JAN29th#Banknifty
Bank Nifty also has a diagonal structure that indicates an ending diagonal. So, if the market opens with a gap-up, we can expect a minimum of 45260 to 45365. After that, if the market consolidates or breaks this level, the pullback will likely continue, reaching 45623. However, if it doesn't break the immediate resistance (45260 to 45365), then it might turn into a range market.
Alternatively, if the market opens with a gap-down or if the initial market rejects sharply, we can expect the diagonal continuation. However, if the rejection shows aggression and breaks 44340, it will reach 44185 and 44000
Adani PowerRules Of Elliott Wave Theory:
#1.Wave 2 never retraces more than 100% of wave 1.
#2.Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
#3.Wave 4 never enters the price territory of wave 1.
ZEE Ent's Rise: Listening to Dalal Street's Market WhispersDisclaimer:
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?
Fundamentals:
Institutional Trust:
A significant holding by Domestic Institutional Investors (DIIs) compared to Foreign Institutional Investors (FIIs) indicates strong domestic confidence. This is backed by interest from major fund houses like ICICI Prudential, Nippon India, and HDFC Mutual.
Potential:
The DII trust and backing from prominent fund houses suggest potential for positive surprises in the stock market. In a market where news plays hide and seek, the strong interest from these institutions could be seen as the market whispering its confidence in ZEE's potential. It's as if "Wavetalks - Market whispers, can you hear them?" becomes a reality.
Technical Analysis:
Historical Performance:
Since January 2018, the stock fell from highs of 619 to lows of 114 in March 2020, a drop of about 81.5%. This was during the early phase of COVID-19, indicating that market prices often anticipate events & discount them. After all, Price is God.
Recovery and Fluctuations:
Post-March 2020, the stock recovered to 378 by December 2022 but again fell to 165-170 in June 2023. The last six months of 2023 saw another rally to around 299/300.
Current Trend and Outlook:
The stock crossing the 300 mark is a key trigger, potentially leading to retesting of the December 2022 highs (378) and possibly extending towards 400-425.
Sony Group Corp. Board Meeting:
The upcoming decision on the $10-billion merger with Punit Goenka-led media conglomerate is a critical factor. Positive news could further boost the stock.
Wave Analysis:
Probability:
There's a 75% chance, according to wave analysis, that the stock will make new highs above 300 in the coming months.
Key Levels:
Traders should watch for psychological levels like 250 and 300 for trading opportunities.
Conclusion:
Wait and Watch:
The outcome of the Sony Corp board meeting is crucial. It's important to monitor the stock closely for any upward movements.
Trading Strategy:
Considering the stock's volatility and potential, traders should be alert to key price levels and news updates for timely decisions.
From
WaveTalks
Market whispers!
Short term view : Likely Corrections ended at 44550 levels In 15 minutes time frame bank nifty identified Zig Zag pattern and the pattern was completed its wave C, even wave C has internal 5 waves,
next move will take the price to higher,
price target will be updating as it unfolds
#nifty directions and levels for JAN 25
#Nifty
"Nifty has experienced a solid pullback after the ABC correction. If the market opens with a gap-up, we can structurally consider it as a sub-wave 3rd continuation, suggesting a potential rally with minor corrections.
Alternatively, if the market opens with a gap-down or rejects around the immediate resistance level, we can consider it a diagonal variation. Both structures are essentially similar, but the momentum will shift from one to the other.
#Banknifty directions and levels for JAN 25Bank Nifty is also forming its 3rd sub-wave, but there is no strong pullback. If the market opens with a gap-up, it might exhibit a diagonal variation. On the other hand, if the market opens with a gap-down, it might continue the correction by breaking the previous bottom. However, if it doesn't break the previous bottom, then we can expect a range-bound market."
#Nifty directions and levels for JAN 24th#Nifty
"Nifty had a sharp correction. structurally, it might be in a 'C' or '3rd' wave. So, if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 21,159 or the Demand zone, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction.
Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the 'C' leg continuation).
#Banknifty directions and levels for JAN 24th#Banknifty
Banknifty also had a reddish day. The structure suggests there is going subwave 5 or double correction variation. So here also, the same sentiment as Nifty—if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 44,720 or 61%, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction.
Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the '5th' wave continuation).
Nifty EW count analysisNifty is currently trading (22032) in 5 of III wave.
Soon it will be followed by corrective wave IV.
On down side it have a 2 support zone from where it can reverse(21470 & 20950), which can mark the End of IV wave and starting of V wave.
As Nifty is rising continuously there is divergence in RSI.
This is my 2 Cents. It is for Educational purpose only. Not a Buy/sell Recommendation
short term Nifty: bullish Target1 @ 21810 & Target2 @21880
After price drop from levels 22124 to 21285 the price action id as impulsive move and labeled as Wave (A)
now wave (B) is in progress
with in wave (B) its internal sub wave A and B are completed and wave C required to progress
Target forwave C of Wave(B) is 21810 & 21880
