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Elliott Wave

#Nifty directions and levels for September 11th.Good morning, friends! 🌞 Here are the market directions and levels for September 11th. Market Overview: Global markets are maintaining a moderately bearish trend, as indicated by the Dow Jones, while our local market has a moderately bullish sentiment. However, today, the market may open neutral to slightly gap-down, as SGX Nifty is indicating a negative move of around -30 points at 8 AM. In the previous session, Nifty had a solid pullback, but Bank Nifty behaved differently, as it didn't pull back as much. Today’s basic structure suggests a minor correction, which we can analyze in the charts. Nifty: In the previous session, Nifty closed more or less at the same level it opened, even though there was a long pullback. This is what we usually refer to as range-bound market movement. The market remains in a range. What about today? > If the gap-down sustains, we can expect a 50% to 61% correction in the minor swing, potentially forming a three-wave structure. > A solid correction is expected only if it breaks the 61% level. If it does, then the next target is 78% and 24834. On the other hand, if it doesn't break, the market will likely form a minor range between the previous day’s high and the 61% downside level. Alternate View: An alternate scenario suggests that if the market opens with a gap-up or if the initial movement is a solid pullback, it may reach the 78% Fibonacci level, especially if it breaks the previous day’s high. > In this case, if it doesn't break the previous high, the market may consolidate around that level.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 11th.Bank Nifty: Bank Nifty has a similar structure to Nifty. However, if you ask where it differs, I would point to the movement. Let me explain it simply: > On the downside, if the market declines, the demand zone may act as strong support. If it holds, the market may once again reach the previous day's close. However, Nifty’s structure is not as clear. > On the upside, if the market breaks the 78% level solidly, it may not respect the supply zone, and a long pullback could be possible. In this case, the breakout structure becomes important. Alternates for Both Scenarios: >If the market doesn’t hold the demand zone or consolidates there, the correction will likely continue. >On the upside, if the market breaks the 78% level gradually, it may not go far.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 10th.Good morning, friends! 🌞 Here are the market directions and levels for September 10th. Market Overview: Global markets are showing a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +45 points at 8 AM. Nifty and Bank Nifty are showing slightly different. Bank Nifty had a strong pullback in the previous session, but Nifty did not. Typically, when the market breaks the 38% Fibonacci level after a sharp decline, it suggests a range-bound market. So, today might see some consolidation, which we can track on the charts. Nifty: Current View: > If the market sustains the gap-up, we can expect the next target to be the 61% Fibonacci level on the upside. After that, if it consolidates there or breaks it then the rally will likely continue. > On the other hand, if it rejects this level, the market might close near today’s opening level. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the 50% resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing. > on the other hand, If the rejection doesn’t break the 38% Fibonacci level, the market may consolidate between the previous high and the 38% Fibonacci level. > In this case, if it breaks the previous high after consolidation, we can follow the pullback.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 10th.Current View: > Bank Nifty is also showing an unclear trend. If the market opens with a gap-up, it might reach the 78% Fibonacci level. If it consolidates or breaks above this level, the rally may continue further. > on the other hand, If the market rejects the 78% level, it could retrace min of 38% Fibonacci level in the minor swing. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the immediate resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 9th.Good morning, friends! 🌞 Here are the market directions and levels for September 9th. Market Overview: Global markets are showing a bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap down, as SGX Nifty is indicating a negative move of around -80 points. Both Nifty and Bank Nifty experienced a solid correction in the previous session. Structurally, we can expect today's movement to shift from correction to consolidation, and we can check the charts to see how this is likely to unfold since both Nifty and Bank Nifty are showing the same sentiment. Nifty: Current View: Gift Nifty is indicating a negative start, but when we look at the wave structure, we can see a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction seems less probable, so if the market faces rejection around the immediate support level, we may see a bounce back of 23% to 38% in the minor swing. According to the wave structure, this bounce back could be the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further to levels between 24,717 and 24,672. > In this case, we should focus on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue further. However, if the market approaches the support level gradually, it may not fall significantly.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 9th.Bank Nifty: Bank Nifty shares a similar sentiment with Nifty. The structure shows a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction is less likely, so once the market faces rejection around the immediate support level, we could see a bounce back of 23% to 38% in the minor swing, potentially marking the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further by up to 78%. >In this case, we should concentrate on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue. On the other hand, if the market approaches the support level gradually, it may not fall much further.
NSE:BANKNIFTY
by Manickamtraders
#Nifty Directions and levels for the 2nd Week of S Global Market Overview Last week, the global market had four red candles, which suggests that the negative trend might continue this week as well. But if you ask, "Will this correction go on for two or three more weeks?" my answer is no. The market structure shows that if it keeps correcting, it may find support near the previous low. If that happens, the market could start moving sideways. This is the current global market sentiment. Our Market Both Nifty and Bank Nifty followed the global sentiment last week. Structurally, we can expect further correction. Let’s look at the charts. However, both Nifty and Bank Nifty share the same overall structure. Nifty In Friday’s session, the Dow Jones closed with a solid red candle, so the first session of the week may open negatively. If this occurs, we can expect a correctional target of the 61% Fibonacci level on the downside. In the meantime, it may consolidate around the 50% level (24716). > In this case, the 61% Fibonacci level serves as a key support zone. After the market reaches this level, we could see a bounce back of about 23% to 28% in the current swing. This is our first scenario.
NSE:NIFTY
by Manickamtraders
#BankNifty Directions and levels for the 2nd Week of September#Bank Nifty Current View If the week starts negatively, we can expect a correctional target of at least 49894 to 49697 on the downside. In the meantime, consolidation may occur around the 50262 level (78%). In this case, the levels of 49894 (MDZ) and 49697 will act as key support zones. After the market reaches these levels, we could see a bounce of 23% to 28% in the current swing. This is our first scenario. Alternate Scenario If the correction finds rejection around the immediate support and breaks the 38% Fibonacci level in the minor swing, it could become a range-bound market, targeting between 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for September 6th. Current view: BankNifty shares the same sentiment due to its range-bound structure. If the market opens with a gap-down, we can expect an immediate target of 51303. After reaching this level, if it consolidates or breaks solidly, the correction may continue toward lower levels, with a minimum target of 51206, extending down to the 78% Fibonacci level. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: Alternatively, if the initial market pullback is strong, or if it rejects around the immediate support level, the range-bound market may continue. If this happens, we can expect a bounce back of 61% to 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 6th.Good morning, friends! 🌞 Here are the market directions and levels for September 6th. Market Overview: The global markets are showing a moderately bearish trend, as indicated by the Dow Jones. Our local market also reflects a similar sentiment. However, today, the market may open with a gap-down, based on SGX Nifty’s negative indication of around -80 points. Both Nifty and BankNifty have been maintaining a range-bound sentiment. Will this continue today as well? The probability is high; however, we will need to confirm by checking the charts. Nifty: Current view: The market is still trading within a range, so we should wait for a proper range breakout even if it opens with a gap-down. If the market opens gap-down, we can expect immediate targets are the 78% Fibonacci level to the minor demand zone. After reaching this area, if the market consolidates or breaks solidly, the correction will likely continue toward lower levels of 24998 to 25037. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: On the other hand, if the market shows a strong pullback initially or if it rejects the immediate support level, it might try to maintain the range-bound structure. In this case, we could expect a bounce back of around 38% to 61% in the minor swing.
NSE:NIFTY
by Manickamtraders
5
NSE ASIANPAINTS - At the Edge of Kinfe Timeframe: Daily NSE ASIAN PAINTS has been undergoing a corrective phase for about 80 weeks, with its price confined within a range of 3329 – 2938 , excluding excesses. The ADX indicator has declined to 21, while the average true range (ATR) stands at 43. Presently, the price has breached the 20-day exponential moving average (EMA) and is trading below the 50, 100 , and 200 EMAs. According to the wave principle, the price has formed a corrective formation A-B-C. Wave (B) occurred at 3422.9 , and wave (C) has taken place. Wave (C) has already reached 100 % of wave (A), indicating equality between wave (A) and wave (C). Sub-wave 4 of wave (C) is expected to occur, followed by wave 5 of wave (C). A buying opportunity may arise if the price breaks above the wave A – C line and maintains levels above 2931. Targets for the Long position would be 3026 – 3152 – 3285+. We Will update further information soon.
NSE:ASIANPAINT
by forextidings
6
NVDA: Correction PhaseHello everyone,😉 I’ve put a scenario for the stock 'NVDA' together, which is currently drawing attention. This scenario is based on not only the "Elliott Wave Theory" but also various analytical tools, so please take it into high consideration. ✔️ Wave from $140.76 downward: "Extended Flat" This is an 'Extended Flat' composed of a 3-3-5 structure. The final C wave was completed as an 'Extended fifth wave impulse.' ✔️ Wave from $90.69 upward: "Zigzag" This is a 'Zigzag' with a 5-3-5 structure. The A wave and C wave have a 1.618 ratio, which adds a high level of credibility. ✔️ Conclusion: Projected Path Based on the wave count so far, I’ve drawn the projected path. I anticipate the appearance of a downward impulse wave and used the downward parallel channel and Fibonacci levels to estimate the potential decline range. First support zone: $100.03 Second support zone: $84.57 (very strong) Good luck! This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities are yours.
NASDAQ:NVDALong
by Killer_Whales
BITCOIN: Elliott Wave & ChannelGreetings, everyone.😉 I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory" . ✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag" ✔️ Current wave in development: Y-c-3 ✔️ Projected upward range: 93K ~ 101K The rationale behind this analysis is as follows: Zigzag patterns typically move within a parallel channel. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel. As a result, the likelihood of a complex correction occurring is considerably high. Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles. Wishing you all the best of luck🍀 This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
#Banknifty directions and levels for September 5th.Current View BankNifty's current view differs slightly from Nifty. If the market opens with a gap-up, we can expect it to reach a minimum of 78% on the upside. After that, if it consolidates or breaks this level, it could move higher. > The potential, however, will be determined by the strength of the breakout. With a solid breakout, we can expect the minimum targets of 51,766 to 51,814. If the breakout is gradual, it may not go as high. Alternate View The alternate view is similar to Nifty: if the market rejects the 78% level or takes a sharp decline initially, the range-bound market will likely continue. The expected targets are a minimum of 38% to 61% of the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 5th.Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both Nifty and BankNifty have been range-bound. What about today? It’s likely that the range will continue, but let’s take a look at the charts. Nifty Current View If the market opens with a gap-up, the 78% level will act as crucial resistance. If it consolidates or breaks this level, we can expect the next targets to be a minimum of 25,333 to 25,366. This is our first scenario. Alternate Scenario On the other hand, if the market rejects the 78% level or takes a sharp decline initially, the range-bound market is likely to continue. The expected targets would be a minimum of 38% to 61% of the minor swing.
NSE:NIFTY
by Manickamtraders
EWT – Can Bulls Push NSE JIOFIN to New Highs?Timeframe: Daily After hitting a low of 202.8, NSE JIOFIN has formed an impulsive cycle. Wave ((2)) has not retraced more than 100% of Wave ((1)). Sub-Wave (3) is a powerful extended wave, reaching 261.8% of the Fibonacci extension of Wave (1). The price has completed Wave (4) at 307, marking an exact 50% retracement of Wave (3). The impulsive structure is expected to resume following a breakout above the corrective slope. However, if the price encounters strong resistance at the upper channel, there is also a possibility of a triangle formation on the daily timeframe chart. The 337 level will pose a significant challenge for the bulls to overcome. According to the alternative chart, the price has completed Wave D at 337.95 and has begun forming Wave E. If the price doesn’t break below the low of Wave C, Wave E could alternatively be interpreted as a 1-2 wave formation. If price breaks out 338 , traders can trade for the following targets: 360 – 383 – 405 +. A breakdown of Wave A at 307 will require a reassessment of the entire wave structure We will update further information soon.
NSE:JIOFIN
by forextidings
8
#Nifty directions and levels for September 4th.Good morning, friends! 🌞 Here are the directions and levels for September 4th. Market Overview The global market experienced a significant decline in the previous session, structurally indicating a bearish sentiment (based on the Dow Jones). Our local market has been maintaining a moderately bullish sentiment. However, today the market may open with a significant gap-down based on the GIFT Nifty's 200-point negative indication. I have shared a basic Elliott Wave structure. If the market opens with a long gap-down, then both Nifty and Bank Nifty will react in line with one of the following two variations. Let’s take a look: Nifty Current View: If the market opens with a long gap-down, Nifty may find support around the 78% Fibonacci level or a minor demand zone. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 4th.Bank Nifty Current View: The sentiment is similar to Nifty; however, for Bank Nifty, it’s uncertain where it will open exactly, so I’m making an assumption. If the market opens with a long gap-down, it may find support around the 61% to 78% Fibonacci level. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:BANKNIFTY
by Manickamtraders
3
BankNifty ( Elliott Wave) - Will 51700+ Be The Short Term TopDisclaimer: This is not a solicitation to buy or sell any financial instruments. Please consult your financial advisor. Explore the latest Bank Nifty analysis with WaveTalks. Will 51700+ be the short-term top? Discover insights and potential market moves as we decode the whispers of the market. Stay informed with WaveTalks - Market Whispers! Let's Jump In ... As discussed in the last idea published on 29th August, it was suggested that holding the 50938 / 50939 critical level, Index can make new highs beyond 51404 which is very much possible. The market tested traders' patience on Friday, 30th August, and continued to do so on Monday, 2nd September, and even on 3rd September, with many feeling the urge to give up. However, bulls were fortunate as a last-minute explosive move took BankNifty from 51400 to 51750—a 350-point jump towards the end of the session. Now, with U.S. markets trading in deep red, with major indices like S&P, Dow, and Nasdaq all down more than 1%, the big question arises: Has the BankNifty pattern we’ve been discussing since last week finally completed? Are we about to fall below 50939, potentially slipping down to the 50300 support level? Only time will reveal the answers to these questions.
NSE:BANKNIFTYShort
by WaveTalks
3