Get started

Elliott Wave

#Banknifty directions and levels for January 8th, Wednesday:The market seems to be in the 4th consolidation wave. Yesterday’s movement supports this view. Unless the market breaks the previous high, we can assume it is still in the consolidation phase. However, if it breaks the previous high, the trend may change. Usually, breaking the 38% Fibonacci level can push the market toward the 78% level. based on that if the market crosses yesterday’s high, we could see it move toward the 50% to 61% Fibonacci levels. This is the key structure for the day.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for January 8th, Wednesday:Good Morning, Friends! 🌞 Here are the market directions and levels for January 8th, Wednesday: Market Overview: The global market continues to maintain a moderately bearish sentiment (based on the Dow Jones), and our local market is reflecting a similar outlook. Today, the market is likely to open with a neutral to slightly gap-up start, as the Gift Nifty indicates a 20-point positive opening. In the last session, Nifty and Bank Nifty opened with a gap-up but didn’t rally much. Based on the wave structure, the market seems to be in the 4th consolidation wave. Yesterday’s movement supports this view. > Unless the market breaks the previous high, we can assume it is still in the consolidation phase. However, if it breaks the previous high, the trend may change. Usually, breaking the 38% Fibonacci level can push the market toward the 78% level. > based on that if the market crosses yesterday’s high, we could see it move toward the 50% to 61% Fibonacci levels. This is the basic structure. Chart structures were discussed in the previous session and remain unchanged, so we can follow yesterday’s sentiment today as well.
NSE:NIFTY
by Manickamtraders
Elliott wave count: we are in Wave 4-5I will present my way of counting Elliott waves to identify the upcoming local top of BTC. Each Elliott wave researcher and practitioner will have their own way of counting, and each counting method has its own basis and weaknesses. I hope to receive feedback from traders who use the Elliott method. For those traders who do not use this method, please feel free to refer to it if you find it interesting or useful. 1. BTC has broken the downtrend from the end of 2021, and I consider the start of the impulse wave to be late November 2022. Wave 0-1 extended until April 2023. 2. The duration of Wave 1-2 is not shorter than the duration of Wave 0-1, therefore Wave 1-2 ended in August 2023. 3. Using ExFibo, I determined that Wave 2-3 = 1.618 Wave 0-1. Wave 2-3 ended in March 2024. 4. The duration of Wave 3-4 is not shorter than the duration of Wave 2-3, therefore Wave 3-4 ends in September 2024. 5. The most important thing right now: predicting Wave 4-5. Wave 2-3 was larger than Wave 0-1 so there is no limitation for Wave 4-5. I can list some cases that we can follow: a) Wave 4-5 = Wave 0-1 => BTC may form a local top at ~$103K. b) Wave 4-5 = Wave 2-3 = 1.618 Wave 0-1 => BTC may form a local top at ~$155K. c) Wave 4-5 = 1.618 Wave 2-3 = 2.618 Wave 0-1 => BTC may form a local top at ~$295K.
INDEX:BTCUSD
by MrSpasybo
#Nifty directions and levels for January 7th, Tuesday:Good Morning, Friends! 🌞 Here are the market directions and levels for January 7th, Tuesday: Market Overview: The global market is maintaining a moderately bearish sentiment (based on the Dow Jones), while our local market is has a bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Gift Nifty showing an 70-point positive start. In the previous session, Nifty and Bank Nifty experienced a solid correction. what about next? even if it opens with gap-up start we can expect correction once if it rejects around the 38% mark. because if it takes pullback strucutrelly it couold be a 4th wave, 4th its a consolidation wave and the upcoming wave is 5th, 5th its a distribution wave so as per the structure the moment might be decrese during the 4th and 5th wave. lets look at the structure. Nifty Current View: The current view saying if the market opens with gap-up and its sustains then it could take 23 to 38% pullback in the minor swing. and structurally it could be a 4th wave. The 4th wave is a three-wave structure, and it could also be a consolidation wave. the 4th wave usually doesn't break the 38% Fibonacci level. so once its started to reject there then we can expect correction. this is the basic structure. However, if the market experiences a strong pullback, it could reach the 50% mark. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the previous low then we can expect correction to the level of 23460 to demand zone. if this happens we should consider thats a 5th wave. 5th wave its a distribution wave so if it finds support around 23460 or the demand zone. then we can expect min od 23 to 38% pullback in the overall swing. (before entering the pullback entry pls check some reversal conformation.
NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for January 7th, Tuesday:Bank Nifty Current View: The current view for Bank Nifty is similar to that of Nifty. If the market opens with a gap-up and sustains, it could take a 23% to 38% pullback in the minor swing, and structurally, it could be a 4th wave. The 4th wave is a three-wave structure and could also be a consolidation wave. The 4th wave usually doesn't break the 38% Fibonacci level, so once it starts to reject there, we can expect a correction. This is the basic structure. However, if the market experiences a strong pullback, it could reach the 50% mark. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the previous low, we can expect a correction to the level of 49,599 to the demand zone. If this happens, we should consider that a 5th wave. The 5th wave is a distribution wave, so if it finds support around 49,559 or the demand zone, we can expect a minimum of a 23% to 38% pullback in the overall swing. (Before entering the pullback, please check for some reversal confirmation.)
NSE:BANKNIFTY
by Manickamtraders
GUARGUM51! - Key Trends and Price PredictionsOn the NCDEX, guar gum has formed an Elliott Wave cycle, with the final Wave E of Wave (4) approaching completion. A confirmation above Wave D could shift the entire outlook in favor of buyers. From a price action perspective, 9830 serves as a strong support level, while 13,650 acts as a supply zone, both of which have remained significant for over four years. Wave D represents a critical midpoint, ensuring a push toward the upper supply zone once the price sustains above this level or Wave D. If the price has completed Wave (4) and has broken above Wave D, it is likely to reach the upper boundary of the value area, around 13,650 . However, with the ADX (Average Directional Index) at 17, this suggests a weak trend, indicating that the current price movement lacks strength. If the price closes below the demand zone at 9,830 , it could delay the expected bullish move. Traders should wait for confirmation before entering a long position to ensure a stronger trend.
NCDEX:GUARGUM51!
by forextidings
TMCFGRNZM: Breakout Could Fuel Bullish MomentumNCDEX TMCFGRNZM is showing signs of potential growth, but the increase so far hasn't been significant. According to Elliott Wave analysis, the price has formed an impulsive pattern, with wave (c) of wave ((4)) reaching a level of 13,000 . The price is currently in the final wave ((5)) of the impulsive cycle. For this to confirm the impulsive movement, the price needs to break above the level of wave (B), which is at 16,590. A strong resistance is expected at wave B, and if the price breaks through this level, it could boost the bullish momentum, leading to a new high. However, without this confirmation, the price may not be suitable for long-term investment and could remain in a corrective phase. We will update further information soon.
NCDEX:TMCFGRNZM1!
by forextidings
1
#Nifty directions and levels for January 6th, Monday:Good Morning, Friends! 🌞 Here are the market directions and levels for January 6th, Monday: Market Overview: The global market is maintaining a moderately bearish sentiment (based on the Dow Jones), while our local market is also showing a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Gift Nifty showing an 80-point positive start. In the previous session, Nifty and Bank Nifty experienced a minor decline. However, the structures indicate a range-bound market, so until the range is broken, we shouldn't expect directional movement. Let’s look at the charts. Nifty Current View: The current view for Nifty suggests that if the market opens with a gap-up, 24072 will act as a resistance. This means that until this level is broken, the market will maintain a bearish bias. However, if it breaks 24072, then we can expect a minimum target of 24173, which is also a major resistance level. > After reaching 24173, if it consolidates or breaks this level, we can expect further continuation of the pullback. Conversely, if it rejects this level, the range is likely to continue. This is the basic structure. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the 38% mark on the downside, the correction will likely continue to the 50% mark. Based on the correction structure, if the correction has a solid structure, it will likely continue to 78%. Conversely, if it reaches 50% with gradual movements, we can expect a minor pullback.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for January 6th, Monday:Bank Nifty Current View: The current view for Bank Nifty is similar to that of Nifty. If the market opens with a gap-up, the 38% level will act as a resistance. This means that until this level is broken, the market will maintain a bearish bias. However, if it breaks the 38% level, we can expect a minimum target of 51379 to 51508, with 51508 being a major resistance. > After reaching 51508, if it consolidates or breaks this level, we can expect further continuation of the pullback. Conversely, if it rejects this level, we can expect a correction. Alternate View: An alternate scenario suggests that if the gap-up doesn't sustain and breaks the previous low, the correction will likely continue to the 78% level at 50620, which is the bottom of the range. Therefore, we should wait for a breakout, or if it pulls back, we can check for reversal confirmation before entering a long position.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for the second week of January:Nifty Previous Week Recap: Last week, Nifty moved in a three-way structure. It started on a negative note, shot up sharply midweek, and ended with a slight decline. Open interest indicates a bearish bias, but it hasn’t fully confirmed. This suggests a moderately bullish bias for now. Let’s examine the charts. Current View: If the week starts negatively, Nifty could reach a minimum of 23,624. After that: * If it consolidates or breaks below this level, the correction may continue. * However, if it holds above 23,624, it could turn into a range-bound market between the previous high and 23,624. Alternate View: If the market finds support around 23,934 and breaks the previous high, it could target 24,559–24,698. This range is a significant resistance, and the rally will continue only if it breaks this level. Otherwise, the market could remain range-bound. Final Note: * The US market has several major events this week, so each session may open with fluctuations. * The local market is entering the earnings season. * Charts: Both global and local markets are in a range. * Both Nifty and Bank Nifty have different structures as well as open interest. Expectation: The market is likely to remain range-bound with a negative bias this week.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for the second week of January:Bank Nifty Bank Nifty is clearly in a range-bound market, and until it breaks out, we cannot expect directional movement. Open interest also indicates a bearish bias, so the probability of downside movement is higher. Let’s look at the chart. Current View: If the week starts negatively, Bank Nifty could reach a minimum of 50,255, which is a minor support level. While some consolidation may occur, the level might not sustain. Alternate View: If the market pulls back at the start, it could attempt to reach 52,174–52,386. However, this is a major resistance level. If the market rejects this level, we can expect a correction, which means it will re-enter a range-bound phase.
NSE:BANKNIFTY
by Manickamtraders
#Sensex directions and levels for the second week of January:Sensex Sensex mirrors Nifty’s structure, so we can follow the same sentiment for Sensex. Current View: If the week starts negatively, Sensex could reach a minimum of 78,090. After that: * If it consolidates or breaks below this level, the correction is likely to continue. * Conversely, if it holds above 78,090, it could turn into a range-bound market between the previous high and 78,090. Alternate View: If the market finds support around 78,797 and breaks the previous high, it could reach 80,501–87,300. The 87,900 level is a significant resistance, and the rally will continue only if it breaks this level. Otherwise, the market could remain range-bound.
BSE:SENSEX
by Manickamtraders
2018 breakout soon with momentum in RANE MADRASWe can see on yearly chart that price is at 2018 breakout level with RSI coming above 70 for the 1st time. Rane (Madras) Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 1,481.77 Crore) operating in Auto Ancillaries sector. Rane (Madras) Ltd. key Products/Revenue Segments include Steering & Suspension Linkages, Scrap, Export Incentives and Job Work for the year ending 31-Mar-2024. For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 530.69 Crore, up 1.37 % from last quarter Total Income of Rs 523.52 Crore and down 13.27 % from last year same quarter Total Income of Rs 611.88 Crore. Company has reported net profit after tax of Rs -.68 Crore in latest quarter.
NSE:RMLLong
by TechnicalAnalystSucrit
No more ruling the skies of the aviation sector!! - INDIGOInterglobal Aviation (INDIGO) has shown several bearish patterns recently, indicating potential downward trends in its stock performance. Weekly : Bearish Engulfing Candlestick Pattern. Daily : Three Outside Down with very weak volume Each candlestick pattern confirms a bearish trend, suggesting a short trade. Additionally, global factors are expected to impact the aviation sector. Entry: 4425 Stop Loss: 4740 Target: Open/Mentioned. Let me know if you found this interesting. Happy trading! 😄
NSE:INDIGOShort
by Vikrant_Mighty
Corrective rise in Reliance The current upmove in Reliance is corrective. The recent low was made near the 111% level, which is considered the wave B level of Flat Correction. The price is in wave C currently. If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B. The targets are open as: Minimum 61.8% (the price is near this level) Rule of equality 100% Extended golden ratio 161.8% This analysis is based on Elliott Wave theory and Fibonacci. This is not buying recommendations. Always do your research before taking any action. For educational purposes only.
NSE:RELIANCELong
by theprofityogi
1
TATVA LONGElliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv) and (v) downside. Currently, the stock is undergoing correction wave (a), (b), and (c) in a daily time frame. stock is currently in Wave (a). Wave (a) will unfolded in five sub waves in red colour. Wave iii (in red colour) of wave (a) will unfold in five sub waves ( in black circle) on the chart. Wave levels are shown on the chart. Level of Invalidation The starting point of Wave (i) has been identified as the invalidation level at 788.5. If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems. I am not a registered Sebi analyst. My research is being done only for academic interests. Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses. Regards Dr Vineet
NSE:TATVALong
by drvineet
3
#Banknifty directions and levels for January 3rd, FridayBank Nifty Current View: The current view for Bank Nifty indicates that if the market initially pulls back after a gap-down start, it could signal the continuation of the pullback. However, we should wait for the previous high to break. If it does, the minor supply zone could serve as the minimum target for this pullback. Additionally, this zone acts as minor resistance, so some consolidation is likely around this level. Alternate View: If the decline has a solid structure, it could reach the 38% Fibonacci level in the overall swing. Structurally, we are in a range-bound market, so if it breaks the 38% level, it could reach a minimum of 50% to 78% in the current swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for January 3rd, Friday:Good Morning, friends! 🌞 Here are the market directions and levels for January 3rd, Friday: Market Overview: The global market shows a moderately bearish sentiment (based on the Dow Jones), while our local market leans towards a moderately bullish sentiment. In the previous session, Nifty and Bank Nifty experienced a pullback, but compared to Bank Nifty, Nifty performed better. What can we expect today? The pullback structure suggests it could continue after some consolidation. However, the global market and some parameters do not support this, so we should approach it with caution. Let’s take a look at the charts. Nifty Current View: The current perspective based on the pullback structure indicates that whenever the market experiences a solid rally, it typically does not break the 38% retracement during profit booking. If the market opens with a gap-down, we could see a maximum correction of 23% to 38%. If the market finds support around this level, we can expect some consolidation between the previous high and the 38% level on the downside. After that, if it breaks the previous high, the rally will likely continue toward 24,324. This is the basic structure. Alternate View: An alternate perspective based on some parameters suggests that if the gap-down has a solid structure, it could reach the 50% Fibonacci level in the minor swing. However, even with a solid structure, we cannot consider it a correction until it breaks the 50% mark. If it does break that level, we can then consider it a correction. If it does not break the 50% level, it could maintain a bullish bias.
NSE:NIFTY
by Manickamtraders
2
NIFTY ELLIOT WAVE ANALYSIS - Wave b(4)Potential Wave B Completion in Wave 4 Correction Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold. Key Levels to Watch: Resistance Zone: 25,600–25,700 This level could act as a key resistance, capping the upward move of Wave B. Support Zone: 22,700–22,800 On the downside, this area may provide significant support and serve as the target for Wave C. Potential Scenario: Wave B could complete after testing the resistance zone, forming a bearish reversal. If the gap fill around the 81.2% Fibonacci retracement occurs, it might signal the transition into Wave C. Wave C could drive prices lower toward the support zone, completing the corrective structure.
NSE:NIFTY
by hiteshkumar10999