NIFTY: New high or new low ahead?It looks like NIFTY is in wave 4 currently.
If this counting is correct, price should not break below wave 2 (23222 level). Because according to rule, wave 4 will never be parallel or below wave 2.
It means price will eventually go in wave 5.
Now, as per this counting wave 3 is shorter than wave 1.
And rule says wave 3 is never the shortest wave.
It means wave 5 will be shorter than wave 3 here.
We may assume target of wave 5 as 24034.
But if price falls below wave 2, this counting becomes invalid.
And price may go in new low.
Elliott Wave
Alteration between wave(ii) and (iv) is a law of the markets Wave (iii) is exactly 2.618 of wave (i) taken from the end of wave (ii) . Wave (ii) is a flat correction . So wave iv cannot be a flat correction , as per the law of alternation , which basically means wave ii and wave iv cannot be similar. Dissimilarity can occur by price correction and by time correction . I think we will get a time correction here , if not price correction . Basically saying , avoid . If it explodes next week it will just be wave v . Always wave iv has to balance wave iv either by time of price. Regards
NSE LINDEINDIA – Elliott Wave ProjectionTimeframe: Daily
NSE LINDEINDIA is currently trading below both the 100 and 200 EMAs, indicating a bearish trend. The ATR stands at 232, reflecting low volatility while supporting the ongoing downward movement. The price action has formed a descending channel, with a clear corrective pattern visible within this structure.
The price has completed wave 5 of wave (C) and begun moving upward. A downward value area is visible near the lower band of the descending channel. The price has reached 100% of wave (A), suggesting it has hit the anticipated Fibonacci ratio, indicating a potential correction. To confirm this assumption, the price must break above wave 4 of wave (C) at 6800 . If this breakout occurs, traders can look for the following targets in a long setup: 7500 – 8198 – 8660+.
We will update further information soon.
Only investors -wave 3 (with circle) seems to be at peak A wave 3 (with circle - micro wave) seems to have peaked . It will only be confirmed if trendline connecting sub- microwave 2-4 is corrected by time lesser than that of time taken by sub-microwave 5 . If if happens it will be a 20% correction , that is called Cost Reducing Technique (CRT) . CRT happens when we have a Top Out Signal . But for hold and buy its all right . Regards
#Banknifty directions and levels for February 5th:In the previous session, Bank Nifty had a solid rally, suggesting further continuation. However, We can expect a rally only if it effectively breaks through this supply zone. If it does, we can anticipate a solid rally. However, if it rejects around the supply zone or if the market declines initially, we can expect a minimum retracement of 38% to 61% in the minor swing, using the Fibonacci levels from the swing low to the upcoming high (from 48,906 to the anticipated high)
#Nifty directions and levels for February 5th:Good Morning, Friends! 🌞
Here are the market directions and levels for February 5th:
There haven’t been any major changes in the global markets, which still show a bullish sentiment (as seen in the Dow Jones). Our local market is also showing a moderately bullish sentiment. Today, the market may open with a neutral to slight gap-up, as the GiftNifty indicates a positive sign of 70 points.
In the previous session, both Nifty and Bank Nifty had a solid rally, suggesting further continuation. However, some parameters have a neutral bias.
In my view, we can expect a rally only if it effectively breaks the 23,822 level. If it does, we can anticipate a solid rally. On the other hand, if it rejects around the supply zone or if the market declines initially, we can expect a retracement of 38% to 61% in the minor swing.
A clean wave 3 will happen or not ? ONLY for investorsWe had a wave i and a messy wave ii (a looong flat- magnificent consolidation) . Then wave 1 (of one lesser degree) up was messy again . It has corrected . We should now expect a clean impulse wave now . Dont be surprised if the crack in the ice , crumbles below the feet (of the bears) . Regards
Tata Motors - Weekly EW (Updated Counts)- Analysis - Long Set-upSo, the last pullback was 4th down and we got 5th down today.
680 is 61.8% retracement of Wave 3 and a great entry point for a long trade.
At least A is done and we should play for a B up. Possible 15-20% upside.
Buy now, add around 682. SL 675.
Elliot Wave study EMAMI LTDEmami Ltd., incorporated in the year 1983, is a Mid Cap company (having a market cap of Rs 27,316.17 Crore) operating in FMCG sector.
Emami Ltd. key Products/Revenue Segments include Personal Care and Other Operating Revenue for the year ending 31-Mar-2024.
For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 1,064.41 Crore, up 16.69 % from last quarter Total Income of Rs 912.15 Crore and up 5.07 % from last year same quarter Total Income of Rs 1,013.03 Crore. Company has reported net profit after tax of Rs 283.48 Crore in latest quarter.
Havells India to complete complex correctionHavells India to soon complete complex correction (W-X-Y). right now we are in the last part of the wave Y.
Possibilites:
1) Wave Y can be (A-B-C) correction in which case we are almost done and ready to move to impulsive structure
2) Wave Y can be (1-2-3-4-5) in which case we are in wave 4 and will take some more days to complete and then expect wave 5 to unfold in that case we will be dropping to 1454-1455.
What to do? Its just wait and watch situation before we see any conclusive move.
Disclaimer: I am not SEBI registered member and this idea is only for educational purposes. Please do your own analysis and decide to buy/sell at your own risk