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Elliott Wave

#Nifty directions and levels for June 26th.Good morning, friends! 🌺🍬 Here are the directions for June 26th: The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 10 points (as of 8:00 AM). Nifty and Bank Nifty had a solid rally in the previous session. However, the structures are a little bit different. Let's look at each one individually. Nifty had a solid pullback in the previous session, so if the market opens neutral to slightly gap-down, then structurally, we can expect a maximum 23 to 38% correction. If it finds support there, we can expect minor consolidation for the rally continuation. This is the basic structure. On the other hand, if it breaks the 38% Fibonacci level on the downside, it may continue the correction further. Structurally, it could be in a flat correction. (Note: If the initial market takes a pullback and breaks the previous high, then the rally may continue further. However, the momentum could be less, so we can't expect a big rally. If we want a big rally, it would require a solid candle breakout or a minor consolidation around the immediate resistance level.)
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for June 26th.Bank Nifty had a long rally, so if the market opens neutral to slightly gap-down, then structurally, it could also take a maximum 23 to 38% correction. After that, if it finds support around 38%, we can expect minor consolidation for the rally continuation. The alternative scenario differs a bit from Nifty. Bank Nifty has extended more compared to Nifty, so structurally, there is no possibility of a big correction, meaning the flat correction might not occur here. Conversely, if it breaks the 38% Fibonacci level, the zigzag variation may extend here, and that correction may reach a maximum of 61%. (Note: If the initial market takes a pullback and breaks the previous high, then the rally may continue further. However, the momentum could be less, so we can't expect a big rally. If we want a big rally, it would require a solid candle breakout or a minor consolidation around the immediate resistance level.)
NSE:BANKNIFTY
by Manickamtraders
2
#Banknifty directions and levels for June25th.Good morning, friends! 🌺🍬 Here are the directions for June 25th: There is no significant difference. The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 35 points (as of 8:00 AM). Nifty and BankNifty are still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in both Nifty and BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail. 1. The first thing is it's a range-bound market. 2. The second thing is there is a flag pattern formed within the range. 3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market. 4. But what's here? This is a range market, so the pattern's success probability is less. 5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue. Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for June25th. BankNifty has still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail. 1. The first thing is it's a range-bound market. 2. The second thing is there is a flag pattern formed within the range. 3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market. 4. But what's here? This is a range market, so the pattern's success probability is less. 5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue. Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
CholaFin Wave Analysis - Wave 3 is Running! Use Ichimoku to RideCHOLAMANDALAM (CholaFin) Chart Analysis As per Elliott Wave analysis, CholaFin is still bullish. The price reversed after a strong bullish divergence in the MACD and has completed the subwaves of Wave 2 of Wave 3. Currently, it is moving up in Wave 3 of Wave 3. Use Ichimoku for entry & exits (Daily time frame): Entry Point: Look for a good dip to enter and avg(for long-term) when the price is near the Ichimoku Cloud's support. Enter when the Price breaks TS/KS with momentum candle. Exit Point: Consider exiting the position when the price starts to show weakness near TS and KS in daily chart. Another exit signal could be when the candle close below the cloud. By using the Ichimoku indicator in conjunction with Elliott Wave analysis, you can identify more precise entry and exit points to maximize your trading strategy. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
NSE:CHOLAFINLong
by WaveMoku
MARKSANS PHARMA is in Wave 3 after Multi-Year Breakout!!Analysis Date: June 24, 2024 Marksans Pharma Stock Analysis: General Trend: The stock was in range for years, the previous monthly high for Marksans Pharma was Rs. 115 in August 2015. According to Elliott Wave theory, this marked the completion of Wave 1, followed by a correction and completion of Wave 2 on March 2020 and entered Wave 3. A breakout above the previous monthly high of Rs. 115.10 was recorded in July 2023. In August, September, and October 2023, the price retested the previous high and broke out again in November, accompanied by good volume. Entry and Exit Points: As per ichimoku the stock still in bull mode in monthly time frame and good accumulation last few months between 140-180. Long-term Perspective: The accumulation price range is a good area to buy the stock, with a stop loss set at Rs. 110 (monthly candle close not spike). Short-term Perspective: Fresh buyers can enter at CMP 162 and keep averaging till near the bottom of the accumulation zone and exit near the high of the range or hold or for two supply zones till 270. The stop loss will be1 hour candle close below RS. 135. Expected Target: Marksans Pharma is expected to hit supply zone 1 and 2 marked in the chart, once it breaks out of the accumulation zone. This target is derived based on the application of Fibonacci extension. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:MARKSANSLong
by WaveMoku
#Nifty Directions and levels for june24th.Good morning, friends! 🌺🍬 Here are the directions for June 24th: The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a gap-down start, as indicated by GiftNifty, which shows a decrease of 75 points (as of 8:00 AM). Nifty and BankNifty have both been maintaining a range-bound structure, with no significant changes. However, GiftNifty is indicating a negative start today. If the market breaks below the current range, a correction may be expected. Conversely, if it finds support at the immediate support level, it will likely return to its range. This is the basic structure we are observing. Additionally, I will share one thing: it has been a long consolidation period, so if it breaks, it could lead to a sharp correction. To determine if the correction will continue, we should check the volume and open interest (OI). If both increase, we can assume the correction may continue further. If they do not, we can't expect a significant correction.
NSE:NIFTY
by Manickamtraders
#Banknifty Directions and levels for june24th.Good morning, friends! 🌺🍬 Here are the directions for June 24th: The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a gap-down start, as indicated by GiftNifty, which shows a decrease of 75 points (as of 8:00 AM). Nifty and BankNifty have both been maintaining a range-bound structure, with no significant changes. However, GiftNifty is indicating a negative start today. If the market breaks below the current range, a correction may be expected. Conversely, if it finds support at the immediate support level, it will likely return to its range. This is the basic structure we are observing. Additionally, I will share one thing: it has been a long consolidation period, so if it breaks, it could lead to a sharp correction. To determine if the correction will continue, we should check the volume and open interest (OI). If both increase, we can assume the correction may continue further. If they do not, we can't expect a significant correction.
NSE:BANKNIFTY
by Manickamtraders
2
We are Going to Honolulu I wonder weather the people call them self as Analyst or research person have any kind of knowledge with them at all They only try to put information in random manner with out even having an complete sense of how things work in Stock market and Mass people ( so call retail traders as sheep ) follow them without even knowing what is the performance The scrip is in well position of moving up one more impulse leg The price from inception have made an 1st impulse leg up and then it entered in correction ( Function of time ) and completed its all three corrective moves which are labeled as A B C , where as Wave A & C represents 5 wave move and Wave B represents 3 wave move Wave C of last move down fell short by price move but met the time factor correction by days / week , and lastly Momentum have given the confirmation of its end of wave C One can look for position them self as long term position and look to book near the forecast Patience is key for better earnings Good luck
NSE:GAILLong
by ShreeKrishna_F
11
What ITC has done so far ? do you know ?Well I have met many Jokers in this platform , who claims so much of victory but have no idea what is happening in the stocks / Indices They still continue to claim their indicators , Telegram Channels ( Message in Private Box ) , and etc etc and retail usually follow them only to end up getting loss I had to make this above statement particularly one individual is very irritating me with various methods , i am letting it go ignoring so far Regarding Scrip , ITC so far have made its move up as 3 wave impulse and have corrected in the pattern of ABC as sharp corrective pattern Wave 4 by which it meets the Guidelines set or advised by R N Elliott as alternative moves of sharp and side ways ( wave 2 is side ways so the wave 4 will be sharp ) Now i am looking for a strong reversal basically on daily then followed by weekly , apparently its still not showing a sign of strong reversal daily for safe entry and long term prospective one can wait for weekly strong close , because the room to down side is still at large it can come down or it might reverse at any given condition it must not brake the low of its last impulse leg So people please wait for strong close on weekly and take a safe entry for next move up Good luck
NSE:ITCLong
by ShreeKrishna_F
23
Bitcoin - Classic Flat-Screaming for 72000 Target Upside Elliott Wave Flat Sequence with Wave C Ending Diagonal In Elliott Wave Theory, a flat sequence typically consists of three waves: A, B, and C. The pattern is generally labeled 3-3-5, indicating the wave structures. Wave A: A corrective three-wave move. Wave B: Another three-wave corrective move, often retracing Wave A by 90% or more. Wave C: A five-wave move, which can unfold as an ending diagonal. An ending diagonal in Wave C indicates a slowing momentum, often signaling a reversal. The ending diagonal structure usually forms a wedge pattern, tapering towards the end. This setup is crucial for identifying potential turning points in the market. Buying Trigger Above 66457 Target 71993 From WaveTalks Abhishek
CRYPTO:BTCUSDLong
by WaveTalks
2
#Banknifty directions and levels for June 21st.Bullish sentiment: > We previously discussed that the market is in the 4th subwave. This is still the case, so we expect a range-bound market today. > If the market breaks the range on the upside, we can expect the 5th wave rally. However, the 5th wave is a distribution phase, > so even with an upside breakout, the market might not move significantly. > A sharp rally can be expected if the market breaks the immediate resistance effectively or consolidates around it. Otherwise, significant movement is unlikely. Bearish sentiment: The same sentiment applies on the downside. If the market finds support at the immediate support level, the range will likely continue. If it breaks the immediate support, we can expect the correction to continue.
NSE:BANKNIFTY
by Manickamtraders
2
#nifty directions and levels for June 21st.Good morning, friends! 🌺🍬 Here are the directions for June 21st: There are no significant changes in the global or our markets. They are maintaining a moderately bullish sentiment. Today, the market may open neutral to slightly gap-up, as indicated by GiftNifty, which shows an increase of 3 points (as of 8:00 AM). Range-Bound Market: Both Nifty and BankNifty consolidated in the previous session, and this may continue today. However, if the market breaks out of this range, we need to be prepared. Bullish sentiment: > We previously discussed that the market is in the 4th subwave. This is still the case, so we expect a range-bound market today. > If the market breaks the range on the upside, we can expect the 5th wave rally. However, the 5th wave is a distribution phase, > so even with an upside breakout, the market might not move significantly. > A sharp rally can be expected if the market breaks the immediate resistance effectively or consolidates around it. Otherwise, significant movement is unlikely. Bearish sentiment: The same sentiment applies on the downside. If the market finds support at the immediate support level, the range will likely continue. If it breaks the immediate support, we can expect the correction to continue.
NSE:NIFTY
by Manickamtraders
Bandhan Bank -Potential Breakout in Progress (Upside Target-430) I suggested somewhere that market participants should start looking at this stock and hold it in their portfolio with an upside trigger of 265 and a final target of 430, to be reviewed later. No surprise – the stock has started moving from our desired zone of 155-175. What a low 169 . Will it cross 265 and later 430? Only time will tell. Pattern: Falling Wedge (Similar to Adani Wilmar as discussed earlier) Such patterns swiftly move towards its starting point. In this case it is 430 From WaveTalks Abhishek
NSE:BANDHANBNKLong
by WaveTalks
4
#Nifty directions and levels for June20th.Good morning, friends! 🌺🍬 Here are the directions for June 20th: There are no significant changes in the global and our markets. They are maintaining a moderately bullish sentiment. Today, the market may open neutral to slightly gap-up, as indicated by GiftNifty, which shows an increase of 10 points (at 8:00 AM). Nifty Analysis Nifty and Bank Nifty structures are different, but the subwaves are the same, currently in sub-wave 4. Here’s the breakdown: Previous Session: Nifty had high volatility. We discussed a diagonal pattern in the 5th wave, and a sharp rejection suggested a possible correction. This correction happened in the previous session. Current Structure: Nifty is forming a flat correction variation, a time-adjustment correction pattern. Today's Expectation: The market may move in two ways. Even if it opens with a gap-up, a correction to 23,442 and 23,380 is possible. This is the final leg of the flat correction, so if support is found at these levels, a bounce back is expected. Alternative Scenario: If the market sustains the gap-up, it may consolidate between the previous high and the previous close, resulting in a range-bound market.
NSE:NIFTY
by Manickamtraders
2
#banknifty directions and levels for June20th.Bank Nifty Analysis Bank Nifty had a solid rally, but retraced a bit in the second half. Structurally, the retracement could be sub-wave 4. Here, the market indicates a minor correction, structurally the C leg of the 4th wave. If it finds support around the 50% or 61% Fibonacci levels, then we can expect the 5th wave bounce back. However, it should break the 38% Fibonacci level for us to expect the 50% and 61% levels. An alternative scenario, similar to Nifty, indicates a range-bound market. We can expect a rally only if it breaks the previous high.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty Weekly Wave Analysis & Positional Trade SetupReason for shorting: As per Elliott Wave theory, Bank Nifty has completed the 1, 2, 3, 4, 5 moves, and wave 5 went up in a contracting triangle ED (Ending Diagonal). It has completed a degree, and now we are expecting a correction. Based on Fibonacci retracement levels, our minimum targets are 0.618 and 0.786. Time Frame: Weekly Stop Loss: Above ATH (51130) Targets: Mentioned in the chart Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYShort
by WaveMoku
16