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Elliott Wave

Sikko Industries is at perfect position to Buy and go long Analysis Done according to Elliott wave theory for holding period 6 to 12 months. CMP is 103 on 29 October 2024 The correction has completed its Main wave 3 Subwave 2 and now Main wave 3 Subwave 3 is about to start and price can give us movement till 160 to 200 level so keep accumulating this share. Fundamentally The share has reported highest profit in the year 2024 so price correction is complete and now fundamentals will support its technical movement too.
NSE:SIKKOLong
by mohitdevelopments
NIFTY... BEST TIME TO INVEST??When Nifty can fall 2200 points in one month, I won't be surprised if it rises by 2500 points in the next month. Nifty is almost at the end of the downside correction, with wave 5 ending around 23800 - 24100 levels. I'm expecting a rapid recovery in Nifty, taking it beyond all-time high levels very soon. Even if Nifty falls below 23800 sometime next week, I'm expecting a weekly close above 24000, which would suggest a good recovery in the coming days. Trade with appropriate stoploss, as the market is always RIGHT!
NSE:NIFTYLong
by Stock-Holmes
NIFTY... ELLIOT WAVES COUNTING....Dear friends, As we see in the chart, Nifty is correcting rapidly from an all time high level. While counting the Elliot waves, we can see that waves 1 and 3 on the downside have been completed. The five waves of wave 3 are shown in the chart. Now we can expect wave 4, which is likely to consolidate for a few days. Wave 4 is likely to have moves on either sides and it can form a zig zag or a flat or a triangle pattern. I had shown a flat pattern of wave 4 in the chart. As per my view, the right time to invest will be at the end of wave 5 which is likely to be around 24000 to 24300 levels. Get ready to ride the bumpy wave 4 guys! Trade with appropriate stoploss.
NSE:NIFTY
by Stock-Holmes
9
Insecticides India - Bullish OpportunityWe have a bullish opportunity for Insecticides India - positional long: - Trend seems to be upwards on Monthly and Weekly TFs - On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone - As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be just starting to initiate a 5th wave upwards on 1-D TF - We will wait for proper impulse formation until price crosses 855ish and then time an entry on hourly or 75 Mins TF chart. As of now, this is on my radar/watchlist.
NSE:INSECTICIDLong
by champvimal
BankNifty - Did You Miss The Explosive Move from 51000 ? Disclaimer: This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products. Consult Your Financial Advisor As per last idea we proposed that holding 51000 & above BankNifty Index can push upside towards 52050 & Above 52100 - can look for 52900-53100 Happy We achieved 78% of the target & got the maximum points of 1500 points in the Index Last Idea What Next ? Index again forming a similar looking pattern from the highs of 52577 -recent highs & safe traders can look for short term downside moves falling below 52100 towards 51855 - Yesterday's low & 51250 / 51000 respectively. Regards, WaveTalks Abhishek
NSE:BANKNIFTY
by WaveTalks
3
#nifty directions and levels for October 22nd.Good morning, friends! 🌞 Here are the market directions and levels for October 22nd. Market Overview: The global market is showing a moderately bearish sentiment due to yesterday’s decline, and our local market is following a similar trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive start of +35 points as of 8 AM. In the previous session, both Nifty and Bank Nifty opened with a gap-up, but it didn’t sustain. If you look at the structure, both indices are different from one another. Nifty is indicating a range-bound market, while Bank Nifty is showing a moderately bullish structure. > How can we interpret this? I took two things into consideration for today’s direction: first, yesterday, the global market declined by nearly 1%, and second, looking at the Nifty and Bank Nifty charts broadly, the pullback occurred after a sharp decline. Both of these signs indicate a bearish bias. That’s how I started today's scenario with a bearish outlook. Let's dive into the charts. Nifty Current View: The current view suggests that even if the market opens with a gap-up, structurally it won't sustain. So, if this starts to decline, we can expect a correction to a minimum of24,614, which is a minor support. If the decline has a solid structure, then the trend will likely continue. However, the notable thing is that it is in a range-bound market, so there is a small probability of a minor bounce back as well. Please watch carefully. Alternate View: The alternate view also presents a kind of range-bound market. If the market sustains the gap-up, then we can expect24,914 for the pullback target. Structurally, it could reject there; if this happens, we can expect a minor correction, but it shouldn't break yesterday's low. This is the basic premise. After this consolidation, if it breaks24,914, then the pullback will likely continue further.
NSE:NIFTY
by Manickamtraders
#banknifty directions and levels for October 22nd.Bank Nifty Current View: It is similar to the Nifty sentiment. If the market declines initially, we can expect minimum correctional targets of51,447 to51,338. If the decline has a solid structure, then the trend will likely continue. On the other hand, if it reaches this level gradually, a pullback is possible there. Alternate View: The alternate view suggests that if the market sustains the gap-up, then we can expect52,423 for the pullback target. However, it should break the38% Fibonacci level solidly; only then can we expect this level.
NSE:BANKNIFTY
by Manickamtraders
KOTAKBANK good to buy or wait for further correction?As we can see in the daily chart of KOTAKBANK, wave C of Flat Correction has reached 100% extension (which fulfills the rule of equality). The previous impulse also has a 50% retracement level around the same point, giving us a perfect cluster. Now, can we directly buy around this level? The answer is simple. Suppose the recent low,1735, is broken, and the stock starts to trade below this. In that case, the further level of wave C of Flat Correction will be opened, and the stock may further fall to 127.20% extension, where the 61.8% level of the previous impulse is also present, giving us another cluster. We can initiate buying at this point which is around 1695. Risky traders may start buying at the CMP with SL of recent low. This analysis is for educational purposes only. Always do your own analysis before doing any trade.
NSE:KOTAKBANKLong
by theprofityogi
#nifty directions and levels for October 16th.The global markets are still bullish, while our local market is showing a moderately bearish trend. Therefore, there is no clear direction for the short term. Today, the market may open with a slightly positive start. If this happens, we can expect that Friday's pullback may continue further. Let's explain it one by one. Current View: If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. For Nifty, the expected target range is 25003 to 25059 Alternate View: The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%. > It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
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NSE:NIFTY
by Manickamtraders
12
#Banknifty directions and levels for October 16th.Current View: If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. the target range is 52514 to 52642. Alternate View: The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%. > It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
NSE:BANKNIFTY
by Manickamtraders
Nifty small upmove possibleNIFTY has clear indication now that wave c of wave B is under formation. The recent down move has not touched 127% level, so this down move was clearly wave b of wave B. Now if we use fib extension for target of wave c of wave B, we get cluster around 25422 and 25416 level, where 161.8% extension of wave c and 50% retracement of bigger wave A (which is the maximum target of wave B of Zig-zag). So we have good buying opportunity here with stoploss below 24545 and target of 25420.
NSE:NIFTYLong
by theprofityogi
Sonata Software - Bullish OpportunityWe have a bullish opportunity for Sonata Software - positional long: - Trend seems to be upwards on Monthly and Weekly TFs - On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone - As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be forming a good solid 3rd Wave upwards on 1-D TF - Entry can be done at 620-625ish and Targets can be 650, 688, 700 for immediate swings. If the momentum carries forward, we will revisit for exact target of when 3rd wave completes later.
NSE:SONATSOFTWLong
by champvimal
ITC - Upward Leading DiagonalIt seems ITC has probably formed a base after consuming a good demand zone on 75 Mins TF and as per Dow Theory model, making higher lows and higher highs. As per my primary rationale of Elliott Wave analysis, it is forming a leading diagonal structure for Wave 1 on 75 Mins TF chart as shown hereby. We can confirm this once it consumes some demand at Wave 2 downwards and makes higher highs rally to initiate Wave 3. In case, it doesn't come to Wave 2 at around 420-425, then we may look for how price action and Elliott Wave Model plays out once it crosses 450 upwards breaking a good supply zone of 440-448. If it breaks Gann Square of 9 number - 463 upwards, then it will be confirmed that upward impulse wave has started yet again and may try to establish All-time highs again. But let's go step by step and see how the model and market sentiments work out/align beautifully in future. Take this as education post for Elliott Wave structure model and play around/perform exercises from your side too on various time frames.
NSE:ITCLong
by champvimal
Bank Nifty - Remainder of the weekI know we are all waiting for a bullish trend to take place in both indices. Me too equally :) As of now, let's quickly understand the wave-count and analysis as per the chart data we have. (Please note: The timeframe I have taken is of 75 Mins , which means the analysis may be fruitful for remainder of this week and not just for intraday) - The Wave counts are as showcased hereby. We are in master ABC and then in probably 4th sub-wave completion to start another sub-wave 5th downwards if the swing high of around 48250 is not broken tomorrow/remainder of the week - In case, the swing high is broken, the wave count changes and 3rd becomes 5th, the 4th becomes 1st. - But instead of confusing with the alternate counts, let's just say that if price action denotes price stays below 48250, we are still in correction wave downwards and may go down. If price action makes a bullish 15 mins candle and stays above 48250, we may see an impulse wave formation upwards and price may go upwards with small pullbacks - The week will be an interesting one, let's all study, learn and exercise our skills and leverage TradingView to maximum :)
NSE:BANKNIFTYShort
by champvimal
Bank Nifty - Next 2/3 days - current week - 15 Mins TFConsidering we have uncertain times and the chart's formation is also not providing clear direction of where the market seems to probably trend, we will go step by step and try to decode what market is forming on 15 Mins TF this week. As of end of market today, we have the following chart formation available. As per Elliott principle, we have 12345 completed from major swing low on 15 Mins TF and now we are in correction mode. Either of these possibilities exist: 1. We may be in ABC-ABC-ABC formation as per blue path line. 1 leg done, 2 remaining 2. We may have completed the ABC formation and now market needs to give good impulse from tomorrow for 12345 formation as denoted by green path line We still can't go for proper bearish formation as the major swing lows/demand zones are not yet broken on 15 Mins TF itself. Let's see how the market behaves tomorrow and accordingly we will revisit our views tomorrow.
NSE:BANKNIFTYLong
by champvimal
NIFTY going up or down from here?NIFTY is standing at crucial point. Here are two possibilities that will decide further move of NIFTY. 1. If price breaks down to 24548.65 level, it will be confirmed that wave C of Zig-zag has started and this move will go minimum up to 24255.75. 2. If price takes support near 24635 (or just say, reverses from anywhere without touching 24548.65) it will be considered that wave B of Zig-zag is still under formation. In this case NIFTY may show some up move upto 25299, and 25485.85.
NSE:NIFTY
by theprofityogi