Interesting Pattern unveils in AluminiumSince the Chinese Index is Bottoming Out and Aluminum at its 4th wave Correction end , One can expect a good bull run in Aluminum in the coming months.
Elliott Wave
#nifty directions and levels for DEC21"Good morning, friends. Directions for December 21st: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a gap-down start, indicated by Giftnifty showing -120.
After that If the market sustains the gap-down or consolidates, the correction could continue with minor pullbacks. On the other hand, if the initial market shows a solid pullback, we might expect a minimum pullback ranging between 23 to 38%. It's important to note that this is a minor pullback and not a reversal. Should it reach 38% with a three-wave structure, it will act as strong resistance. If it gets rejected at this point, we can anticipate the continuation of the correction. Conversely, if it breaks past this level, consider a breakout entry and set your targets at 50% and 61%."
#Banknifty directions and levels for DEC21"Good morning, friends. Directions for December 21st: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a gap-down start, indicated by Giftnifty showing -120.
After that If the market sustains the gap-down or consolidates, the correction could continue with minor pullbacks. On the other hand, if the initial market shows a solid pullback, we might expect a minimum pullback ranging between 23 to 38%. It's important to note that this is a minor pullback and not a reversal. Should it reach 38% with a three-wave structure, it will act as strong resistance. If it gets rejected at this point, we can anticipate the continuation of the correction. Conversely, if it breaks past this level, consider a breakout entry and set your targets at 50% and 61%."
CNX PSE Wave 3 Seems overNSE:CNXPSE seems to have completed Wave 3.
Shall consolidate in wave 4 correction.
PSE stocks are overcrowded bus.
Time to offload late passengers.
#nifty directions and levels for DEC 20th"Good morning, friends. Directions for December 20th: The global market sentiment is bullish, supported by the Dow Jones. and our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows +80.
Nifty has a strong bullish structure, and Banknifty has a range market structure; both indicate different conditions. Therefore, we don't know exactly which one is going to dominate. However, we can follow one thing: if the market has a solid candle structure or consolidation followed by a gap-up, then we can expect the rally to continue. On the other hand, if the pullback reaches the immediate resistance with minor consolidation (without strength), then the range will likely continue."
#Banknifty directions and levels for DEC 20th"Good morning, friends. Directions for December 20th: The global market sentiment is bullish, supported by the Dow Jones. and our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows +80.
Nifty has a strong bullish structure, and Banknifty has a range market structure; both indicate different conditions. Therefore, we don't know exactly which one is going to dominate. However, we can follow one thing: if the market has a solid candle structure or consolidation followed by a gap-up, then we can expect the rally to continue. On the other hand, if the pullback reaches the immediate resistance with minor consolidation (without strength), then the range will likely continue."
#Nifty directions and levels for DEC 19th"Good morning, friends. Directions for December 19th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral start based on Giftnifty, which shows +3.
The previous sentiment has not changed. Structurally, the market is moving in consolidation (range market), so we should wait for the breakout. If it breaks the immediate resistance, then we can expect a rally continuation. On the other hand, if it breaks the immediate support, we can expect the 3rd minor wave, which might entail some long correction. However, the important thing is the structure; if it forms a solid structure, we can expect continuation; otherwise, the range will persist."
#Banknifty directions and levels for DEC 19th"Good morning, friends. Directions for December 19th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral start based on Giftnifty, which shows +3.
The previous sentiment has not changed. Structurally, the market is moving in consolidation (range market), so we should wait for the breakout. If it breaks the immediate resistance, then we can expect a rally continuation. On the other hand, if it breaks the immediate support, we can expect the 3rd minor wave, which might entail some long correction. However, the important thing is the structure; if it forms a solid structure, we can expect continuation; otherwise, the range will persist."
SBI CardsSBI Cards likely completed Wave 2 within an ascending triangle on the daily timeframe. Consider accumulating until 927, with a stop loss at 695 or 655 based on your risk appetite.
#nifty directions and levels for DEC 18th"Good morning, friends. Directions for December 18th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral to slightly gap-down start based on Giftnifty, which shows -60.
After that, if the gap-down sustains, we can expect a minimum of 23 to 38% fib correction. After that, if the market takes support there (38%), then it might turn into a range market. However, if it breaks the fib level of 38%, then the correction is likely to continue with minor pullbacks.
On the other hand, if the gap-down doesn't sustain and takes a pullback initially, then we can expect pullback continuation when it breaks the immediate resistance."
#Banknifty directions and levels for DEC 18th"Good morning, friends. Directions for December 18th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral to slightly gap-down start based on Giftnifty, which shows -60.
After that, if the gap-down sustains, we can expect a minimum of 23 to 38% fib correction. After that, if the market takes support there (38%), then it might turn into a range market. However, if it breaks the fib level of 38%, then the correction is likely to continue with minor pullbacks.
On the other hand, if the gap-down doesn't sustain and takes a pullback initially, then we can expect pullback continuation when it breaks the immediate resistance."
Bajaj Consumer: Long SetupBajaj Consumer: Long Setup
Achieved the target of EOW-4
And ready to shoot up for W-5
Levels mentioned on chart.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading
AFFLE INDIA: Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach).
Trading strategy: Buy on CMP 909 and keeping the SL 760 look for the target of 1600/2100
Gold Wave Decadal 1 seems to be over..Wave 1 which started in 1970s seems to be over with wave 5 reaching 2140 levels. Internal wave counts of wave 5 also tell so (from hourly to daily to weekly to monthly) all wave 5s are over
The sharp correction from 2148 levels just confirmed my view.
My calculations may be wrong if Gold sustains above 2150 for a week
Wave counts from wave 4 (sep 22)
Wave counts from wave 4 (2017)
DMART - Setup aligned for a good impulse DMART is about to give a good impulse on the upside if breaks above 4120 . Lets observe how it moves.
#Banknifty directions and levels for DEC 15th."Good morning, friends. Directions for December 15th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows 70+.
The market is making a new high every day, so whether it opens with a gap-up start or a neutral start is not important; the structure is what matters. If the gap-up has a solid structure (followed by consolidation or a solid candle structure), we can expect a rally continuation. On the other hand, if the gap-up doesn't sustain or if it rejects around the immediate resistance, we can expect a range market initially. If it breaks the Fib level 38%, then we can consider it a correction."
#Nifty directions and levels for DEC 15th."Good morning, friends. Directions for December 15th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows 70+.
The market is making a new high every day, so whether it opens with a gap-up start or a neutral start is not important; the structure is what matters. If the gap-up has a solid structure (followed by consolidation or a solid candle structure), we can expect a rally continuation. On the other hand, if the gap-up doesn't sustain or if it rejects around the immediate resistance, we can expect a range market initially. If it breaks the Fib level 38%, then we can consider it a correction."
#Nifty directions and levels for DEC 14th"Good morning, friends. Directions for December 14th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a significant gap-up start, creating uncertainty about its exact opening position.
Here's the basic structure: if the market breaks the immediate resistance with solid momentum or experiences minor consolidation, then we can expect a rally continuation. On the other hand, if it rejects around the immediate resistance, we can anticipate a correction, but it should break the 38% Fibonacci level."
#Banknifty directions and levels for DEC 14th
"Good morning, friends. Directions for December 14th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a significant gap-up start, creating uncertainty about its exact opening position.
Here's the basic structure: if the market breaks the immediate resistance with solid momentum or experiences minor consolidation, then we can expect a rally continuation. On the other hand, if it rejects around the immediate resistance, we can anticipate a correction, but it should break the 38% Fibonacci level.
I will provide updates if there are any changes in this chart during the mid-market session."
#nifty directions and levels for DEC 13thGood morning, friends. Directions for December 13th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a neutral to slightly gap-up start.
Structurally, it's a range market. However, if the market breaks the immediate resistance with a solid structure, then we can expect a pullback continuation. On the other hand, if it rejects that level, then the previous range will likely continue. The same applies to a downtrend. If the market finds support around the immediate support level, then the range will continue. However, if it breaks this level, we can expect correction continuation."
#Banknifty directions and levels for DEC 13thGood morning, friends. Directions for December 13th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a neutral to slightly gap-up start.
Structurally, it's a range market. However, if the market breaks the immediate resistance with a solid structure, then we can expect a pullback continuation. On the other hand, if it rejects that level, then the previous range will likely continue. The same applies to a downtrend. If the market finds support around the immediate support level, then the range will continue. However, if it breaks this level, we can expect correction continuation."
HDFC Life 75 Mins Elliott Wave Set UpIn the realm of technical analysis, the 75-minute timeframe chart of HDFC Life has unveiled a compelling Elliott Wave setup. A closer inspection of the recent retracement indicates a potential Wave 4 correction in progress. Let's delve into the Fibonacci relationships inherent in this labeling.
Wave 2 retracement was contained within the vicinity of 50%, while the extended nature of Wave 3 surpassed 162% of Wave 1. Notably, the current Wave 4 retracement appears shallow, confined between 24-38% of Wave 3. Even if it retraces around 38%, the target would be approximately 663.
The overall setup suggests a promising probability of Wave 5 materializing. As such, one might consider capitalizing on the recent decline, setting a stop loss at 655 for targets in the range of 705-710 within the short to medium term.
Poised for an upside - XAGUSDSilver is getting ready for another up move if proves the above impulse wave pattern. Failing which, will continue in its downward trajectory. If looking for a long entry, Look for confirmations, Aggressive entry is not recommended.
