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Elliott Wave

#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
NSE:NIFTY
by Manickamtraders
#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
NSE:BANKNIFTY
by Manickamtraders
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.
NSE:UPL
by vaibhav1050
2
#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
NSE:NIFTY
by Manickamtraders
#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
NSE:BANKNIFTY
by Manickamtraders
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!
NSE:ZEELLong
by WaveTalks
22
#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.
NSE:NIFTY
by Manickamtraders
#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).
NSE:NIFTY
by Manickamtraders
1
#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).
NSE:BANKNIFTY
by Manickamtraders
1
#Nifty directions and levels for JAN 23 #Nifty Good morning, friends. Directions for December 20th: 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 gap-up start based on Giftnifty, which shows +150. Nifty hasn't formed a proper structure, so if the market breaks the previous high, then we can expect a minimum of 21,744 to 21,804. After that, if it consolidates or breaks this level, the rally will likely continue. But as per the wave, its maximum pullback fib level is 78%. However, if the pullback rejects around 61% (21,804), then we could wait for reversal confirmation using the fib swing low to high. If this fib breaks 38%, then we could consider this a reversal for a bearish trend. Alternate view: If the gap-up doesn't sustain or if it rejects around 21,652, then it might turn into correction. But here also, we will wait for confirmation; when it breaks the fib level 38% (21,533), then we can take a short position.
NSE:NIFTY
by Manickamtraders
#Banknifty direction and levels for JAN 23Banknifty has a long consolidation, so if the market opens gap-up, it might follow the trend. After the gap-up, if the market breaks the resistance level (38%), then we can expect 46,756 to 46,868. Here also, the sentiment is the same as Nifty—if it consolidates or breaks this level, the rally will likely continue. But as per the wave, its maximum pullback fib level is 78%. However, if the pullback rejects around 50%, then we could wait for reversal confirmation using the fib swing low to high. If this fib breaks 38%, then we could consider this a reversal for a bearish trend. Alternate view: If the gap-up doesn't sustain or if it rejects around the fib level 38%, then it might turn into correction. But initially, the structure suggests a range market, and we can expect a correction when it breaks the previous swing bottom."
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for JAN 18th"Good morning, friends! Here are the directions for January 18th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing a -160. HDFC Bank's results' impact is still ongoing. Structurally, we can expect a pullback around the major support level. If it rejects, then we can anticipate a minimum of 38% to 61% pullback. On the other hand, if it breaks or consolidates around the major support level, the correction is likely to continue."
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for JAN 18th"Good morning, friends! Here are the directions for January 18th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing a -160. HDFC Bank's results' impact is still ongoing. Structurally, we can expect a pullback around the major support level. If it rejects, then we can anticipate a minimum of 38% to 61% pullback. On the other hand, if it breaks or consolidates around the major support level, the correction is likely to continue."
NSE:BANKNIFTY
by Manickamtraders
IREDA vs. IRCTC: Tracking Parallel Stock Successes Disclaimer: Trading in financial markets involves substantial risks. Please consult your financial advisor before making any trading decisions. This message is not a solicitation to buy or sell. Perform your due diligence. WaveTalks - Market Whispers: Can you hear them? Analysis Overview: IREDA's performance in the stock market is drawing attention, much like IRCTC did in 2019. Trading at 119.50, a significant rise from its listing at 50, IREDA is experiencing strong and impulsive market waves. This suggests a big growth potential, aiming for targets of 155, 175, and 190. Key Points of Analysis: 1. Remarkable Growth Since Listing: IREDA's stock value has more than doubled since its listing, showing strong investor confidence and favorable market trends. 2. Potential for More Growth: The trend suggests IREDA is in a bullish phase. Its steady rise indicates an impulsive wave pattern, often leading to quick price increases. 3. Projected Targets with Support Levels: The targets for IREDA's stock are 155, 175, and 190, assuming it stays above the support levels of 107.50 (minor) and the important 100 level (critical support). These targets are based on the stock's current momentum and market optimism. 4. Buying Triggers - Buy This Stock above 127.50 post breakout or Buying close to 110-112.50 zone which retraces the latest impulsive (103 to 127.40 at minor degree) by 61.8% 5. Current Wave Analysis: The stock is currently in its 5th wave of growth within first impulsive wave sequence from the listing price of 50, which is still unfolding. 6. Comparison with IRCTC: Though they operate in different sectors, IREDA's growth mirrors IRCTC's early success in the stock market. Both being public sector companies, they've attracted significant investor interest. The Last Idea on IRCTC – Stellar Debut -The Next Station Please? 7. Investor Sentiment and Industry Prospects: The positive market reaction to IREDA is partly due to its involvement in the renewable energy sector. With growing global focus on sustainability, IREDA is at the forefront of an expanding industry, increasing its attractiveness to investors. Concluding Thoughts: IREDA's stock, with its strong growth and potential for further rise, is a key player in the market. Investors and analysts should watch its progress, as IREDA might replicate or even exceed IRCTC's success. The unfolding 5th wave in its stock pattern and the ambitious targets further emphasize this potential. WaveTalks - Market Whispers: Can you hear them?
NSE:IREDALong
by WaveTalks
3