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Elliott Wave

#Nifty directions and levels for September 19th.Good morning, friends! 🌞 Here are the market directions and levels for September 19th. Market Overview: Both global markets and our local markets are still showing a moderately bullish trend. Moreover, today the market is expected to open slightly neutral to gap-up, with SGX Nifty indicating a positive move of around +70 points as of 8 AM. In the previous session, we observed differing performances between the Nifty and Bank Nifty. The Bank Nifty had a solid rally, while the Nifty underperformed and closed in the negative. Typically, we might interpret this as a continuation of the negative bias; however, today the SGX Nifty is indicating a decent positive start. Therefore, if the market sustains the gap-up and breaks the previous high, we can follow that direction. However, I am starting with a negative bias because theory suggests that. Let's look at the charts. Nifty: Current View: The current view suggests that if the initial market declines, we can expect a minimum correction level of 38% on the downside. After that, if the market breaks or consolidates around the 38% mark, the correction is likely to continue. On the other hand, if there is a solid pullback, we can anticipate a minimum target of 61% to 78%. Simply put, if the bounce-back breaks the 38% level in the minor swing, we can anticipate reaching the 61% to 78% levels next. Alternate View: The alternate view suggests that if the gap-up sustains, there may be some consolidation between the previous high and the previous day's closing price. If it breaks the previous high, the rally is likely to continue. However, we should wait for the breakout for directional movement.
NSE:NIFTY
by Manickamtraders
2
#Nifty directions and levels for September 17th.Good morning, friends! 🌞 Here are the market directions and levels for September 17th. Market Overview: Global markets continue to show a moderately bullish trend, as indicated by the Dow Jones, and this sentiment is reflected in our local market as well. Today, the market is expected to open with a gap-up, with SGX Nifty suggesting a positive move of around +30 points as of 8 AM. Current view: There haven't been any significant changes in the previous sentiment, so I'll explain it simply. Nifty is showing a moderately bullish structure, which means consolidation. If the market rejects around the immediate resistance, it may continue this sentiment. A solid rally is expected only if the immediate resistance is broken convincingly. Alternate view: Alternatively, if the market starts negatively, the demand zone will act as strong support. If the market finds support there, it could form a range between the previous high and the downside demand zone. A deeper correction is expected only if the demand zone is broken convincingly.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 17th.Current view: There haven't been any significant changes in the previous sentiment, so I'll explain it simply. Bank Nifty is showing a moderately bullish structure, which means consolidation. If the market rejects around the immediate resistance, it may continue this sentiment. A solid rally is expected only if the immediate resistance is broken convincingly. Alternate view: the situation is similar to Nifty. Even if the market declines initially, it could maintain a bullish bias until it breaks the previous minor swing low(Blue color box). If this level is broken solidly, we can expect a correction of 38% to 50% from the minor swing.
NSE:BANKNIFTY
by Manickamtraders
2
#Nifty directions and levels for September 16th.Good morning, friends! 🌞 Here are the market directions and levels for September 16th. Market Overview: Global markets are showing a moderately bullish trend, as indicated by the Dow Jones, and this sentiment is reflected in our local market as well. Moreover, today’s market is expected to open with a gap-up, with SGX Nifty indicating a positive move of around +50 points as of 8 AM. Nifty: Current View: There haven't been any major changes to the market sentiment since the previous session, as Nifty closed with consolidation. Structurally, this suggests we could be in the 4th wave. Now, if the market opens with a gap-up and sustains it, we can expect a 5th impulse wave. The targets for this wave are likely between 25,452 and 25,587. > It’s important to note that the 5th wave is typically a distribution wave. So, if the market breaks the immediate resistance with a strong candle or after some minor consolidation, the rally could extend further, potentially reaching 25,587. On the other hand, if the market reaches the resistance gradually, it may not gain as much momentum, and the maximum level to expect would be 25,492. Alternate View: If the gap-up doesn’t hold or the market declines initially, we may see a correction of around 23% to 38%. Following this, if the market finds support near the 38% Fibonacci level, it could consolidate between this level and the previous high. However, if the market breaks below the 38% level, the next target would be at the 50% Fibonacci level. Still, further correction will only continue if the market decisively breaks below the 50% Fibonacci level.
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NSE:NIFTY
by Manickamtraders
4
#Banknifty directions and levels for September 16th.Bank Nifty: Current View: In the previous session, Bank Nifty formed a diagonal pattern, which often signals the final wave of the trend when it forms at the top. However, lower time frames can sometimes break these rules. so If the market breaks the supply zone solidly or with some consolidation, we can expect the rally to continue, with targets ranging from 52,250 to 52,320. Alternate View: Alternatively, if the market faces rejection around the supply zone or declines initially, a correction of around 23% to 38% is possible. Afterward, if the market finds support near the 38% Fibonacci level, it will likely consolidate between this level and the previous high. If the market falls below the 38% level, the next target would be at the 50% Fibonacci level. However, the correction will deepen only if the 50% Fibonacci level is broken convincingly.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty Directions and Levels for the 3rd Week of September.Bank Nifty: Current View: Bank Nifty is following a similar trend. If the week starts on a positive note, the market may face resistance around the 52126 or 52249 levels. If this happens, we can expect a 23% to 38% correction in the minor swing. After that, if support is found around the 38% level, the rally is likely to continue, with potential targets of 52527 and the supply zone. This is our first scenario. Alternate View: In the alternate scenario, if the market starts negatively or faces rejection around the immediate resistance, we can expect a 38% correction. (It’s important to note that the retracement points differ from the current view.) after that If the market breaks this level decisively, we can expect the correction to extend to at least 78% to the swing low. However, if it doesn't break the 38% level, the bullish bias could be maintained.
NSE:BANKNIFTY
by Manickamtraders
#Nifty Directions and Levels for the 3rd Week of September.Global Market Overview: In the previous week, the global market experienced a solid pullback; however, the structure still indicates a range-bound market. What about this week? Structurally, if the market breaks the previous high, we can expect a continuation of the rally. On the other hand, if the market faces rejection around the previous high, the range is likely to continue. However, there are many important events this week, such as Retail Sales, Industrial Production, Building Permits, the Fed Interest Rate Decision, FOMC Economic Projections, and the Fed Press Conference. So, this week might be crucial, and we could expect heightened volatility. Our Market: In the previous week, our market mirrored the global sentiment. Both Nifty and Bank Nifty experienced strong pullbacks, and structurally, this could continue into this week. However, we might see some consolidation in the middle of the week. Let’s break it down further by looking at the charts. While Nifty and Bank Nifty have similar structures, their wave counts differ. Nifty: Current View: If this week begins positively, we could see resistance around the 25492 to 25587 levels. If the market gets rejected here, we can expect a minor retracement of 23% to 38% in the swing. After that, if the market finds support there(around 38%), the rally could continue, with potential targets of 25692 to 25853. This is our primary scenario. Alternate View: In the alternate scenario, if the market starts negatively or faces rejection around the immediate resistance, we can expect a 38% correction. (It’s important to note that the retracement points differ from the current view.) after that If the market breaks this level decisively, we can expect the correction to extend to at least 78% to the swing low. However, if it doesn't break the 38% level, the bullish bias could be maintained.
NSE:NIFTY
by Manickamtraders
2
#Nifty directions and levels for September 13th.Good morning, friends! 🌞 Here are the market directions and levels for September 13th. Market Overview: Global markets are showing a moderately bullish trend, as indicated by the Dow Jones, and our local market has a bullish sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +40 points at 8 AM. In the previous session, Nifty and Bank Nifty showed a solid rally. Structurally, it is indicating a bullish bias. However, if we look at the sub-wave structure, there is a progressing fourth wave. The previous solid rally could indicate a third wave, followed by a rejection that reached the 23% Fibonacci correction, so we should consider that a fourth wave. In this sentiment, we can expect consolidation until breaking the immediate resistance. Let’s take a look at this on the chart. Today, Nifty and Bank Nifty have the same sentiment. Current View: If the market opens with a gap-up, it may face rejection around the previous high. If this happens, it may enter some consolidation between the previous high and the 38% Fibonacci level to the downside. This is our first variation. Alternate View: The alternate view suggests that if the gap-up doesn’t sustain, it may find support around the 38% Fibonacci level. If this occurs, it typically consolidates between the 38% and the previous high. In this case, if it breaks below the 38%, we can expect the next target at the 50% level; however, the correction will continue only if it breaks the 50% Fibonacci level solidly.
NSE:NIFTY
by Manickamtraders
1
#Banknifty directions and levels for September 13th.Current View: If the market opens with a gap-up, it may face rejection around the previous high. If this happens, it may enter some consolidation between the previous high and the 38% Fibonacci level to the downside. This is our first variation. Alternate View: The alternate view suggests that if the gap-up doesn’t sustain, it may find support around the 38% Fibonacci level. If this occurs, it typically consolidates between the 38% and the previous high. In this case, if it breaks below the 38%, we can expect the next target at the 50% level; however, the correction will continue only if it breaks the 50% Fibonacci level solidly.
NSE:BANKNIFTY
by Manickamtraders
DXYDXY cmp 101.759 this is a monthly chart of DXY, looking at the chart , this is the wave counts comes to me.. DXY have completed its 5 waves, wave A and most probably wave B and is ready to move towards the down targets as marked with green line... those are targets 1 and 2 ... if this wave B is not over... it can move up towards upward target marked by red line ..(that is if at all wave B is not completed), and after completing wave B , it would go and touch downward levels.. ONLY and ONLY after that I believe.. we would resume up trend ... Just a View! Vedng!! Disclaimer: Chart is for study purpose only!!!
TVC:DXY
by VedangsStudy
#Nifty directions and levels for September 12th.Good morning, friends! 🌞 Here are the market directions and levels for September 12th. Market Overview: Global markets are still maintaining a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +90 points at 8 AM. In the previous session, both Nifty and Bank Nifty had a huge up and down. Structurally, it’s maintaining the range market. What about today? Even though the market closed negative yesterday, SGX Nifty is indicating a positive start today. Simply, it says that the range will continue. Let’s look at the chart. Today, Nifty and Bank Nifty both have the same sentiment. Nifty: Current view: The current view is saying that the market is range-bound, but if the market breaks the level of 25078 solidly or with some consolidation, it will continue to the Fibonacci level of 78% to 25216. This is our first variation. Alternate view: On the other hand, if the gap-up doesn’t sustain or if the market rejects the level at 25078, then it will continue the range further between the previous day’s range. This is our alternate view.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 12th.Bank Nifty: Bank Nifty also has a similar sentiment to Nifty. If the market opens with a gap-up, then the 51319 level will act as minor resistance. Once the market breaks this level with a solid candle or some consolidation, it will reach a minimum of 51492 to 51593. > In this case, the supply zone will act as resistance only if approached gradually. Conversely, if the market reaches that level with a solid structure, it may require some consolidation there before continuing the rally. Alternate view: The alternate view is that if the gap-up doesn’t sustain or if the market rejects around the 51319 level, then it will continue the range further between the previous day’s range.
NSE:BANKNIFTY
by Manickamtraders
TATAMOTORS Ending diagonal.. trend is getting matured..Tata motors in impulse 5th wave up .. high made 1179 (min target of 5th wave done) It seems its making ending diagonal pattern in form of 3-3-3-3-3... waves and if it is doing diagonal pattern than chances are there for 3rd wave of 5th up in 3 waves and one more new high possible. important support is 4th wave low 855 breaking of which will end the impulse trend and down trend will start in tata motors. Disclaimer : study is only for educational and I am not SEBI registered.
NSE:TATAMOTORS
by MDstockmagic
#Nifty directions and levels for September 11th.Good morning, friends! 🌞 Here are the market directions and levels for September 11th. Market Overview: Global markets are maintaining a moderately bearish trend, as indicated by the Dow Jones, while our local market has a moderately bullish sentiment. However, today, the market may open neutral to slightly gap-down, as SGX Nifty is indicating a negative move of around -30 points at 8 AM. In the previous session, Nifty had a solid pullback, but Bank Nifty behaved differently, as it didn't pull back as much. Today’s basic structure suggests a minor correction, which we can analyze in the charts. Nifty: In the previous session, Nifty closed more or less at the same level it opened, even though there was a long pullback. This is what we usually refer to as range-bound market movement. The market remains in a range. What about today? > If the gap-down sustains, we can expect a 50% to 61% correction in the minor swing, potentially forming a three-wave structure. > A solid correction is expected only if it breaks the 61% level. If it does, then the next target is 78% and 24834. On the other hand, if it doesn't break, the market will likely form a minor range between the previous day’s high and the 61% downside level. Alternate View: An alternate scenario suggests that if the market opens with a gap-up or if the initial movement is a solid pullback, it may reach the 78% Fibonacci level, especially if it breaks the previous day’s high. > In this case, if it doesn't break the previous high, the market may consolidate around that level.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 11th.Bank Nifty: Bank Nifty has a similar structure to Nifty. However, if you ask where it differs, I would point to the movement. Let me explain it simply: > On the downside, if the market declines, the demand zone may act as strong support. If it holds, the market may once again reach the previous day's close. However, Nifty’s structure is not as clear. > On the upside, if the market breaks the 78% level solidly, it may not respect the supply zone, and a long pullback could be possible. In this case, the breakout structure becomes important. Alternates for Both Scenarios: >If the market doesn’t hold the demand zone or consolidates there, the correction will likely continue. >On the upside, if the market breaks the 78% level gradually, it may not go far.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 10th.Good morning, friends! 🌞 Here are the market directions and levels for September 10th. Market Overview: Global markets are showing a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +45 points at 8 AM. Nifty and Bank Nifty are showing slightly different. Bank Nifty had a strong pullback in the previous session, but Nifty did not. Typically, when the market breaks the 38% Fibonacci level after a sharp decline, it suggests a range-bound market. So, today might see some consolidation, which we can track on the charts. Nifty: Current View: > If the market sustains the gap-up, we can expect the next target to be the 61% Fibonacci level on the upside. After that, if it consolidates there or breaks it then the rally will likely continue. > On the other hand, if it rejects this level, the market might close near today’s opening level. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the 50% resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing. > on the other hand, If the rejection doesn’t break the 38% Fibonacci level, the market may consolidate between the previous high and the 38% Fibonacci level. > In this case, if it breaks the previous high after consolidation, we can follow the pullback.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 10th.Current View: > Bank Nifty is also showing an unclear trend. If the market opens with a gap-up, it might reach the 78% Fibonacci level. If it consolidates or breaks above this level, the rally may continue further. > on the other hand, If the market rejects the 78% level, it could retrace min of 38% Fibonacci level in the minor swing. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the immediate resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 9th.Good morning, friends! 🌞 Here are the market directions and levels for September 9th. Market Overview: Global markets are showing a bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap down, as SGX Nifty is indicating a negative move of around -80 points. Both Nifty and Bank Nifty experienced a solid correction in the previous session. Structurally, we can expect today's movement to shift from correction to consolidation, and we can check the charts to see how this is likely to unfold since both Nifty and Bank Nifty are showing the same sentiment. Nifty: Current View: Gift Nifty is indicating a negative start, but when we look at the wave structure, we can see a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction seems less probable, so if the market faces rejection around the immediate support level, we may see a bounce back of 23% to 38% in the minor swing. According to the wave structure, this bounce back could be the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further to levels between 24,717 and 24,672. > In this case, we should focus on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue further. However, if the market approaches the support level gradually, it may not fall significantly.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 9th.Bank Nifty: Bank Nifty shares a similar sentiment with Nifty. The structure shows a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction is less likely, so once the market faces rejection around the immediate support level, we could see a bounce back of 23% to 38% in the minor swing, potentially marking the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further by up to 78%. >In this case, we should concentrate on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue. On the other hand, if the market approaches the support level gradually, it may not fall much further.
NSE:BANKNIFTY
by Manickamtraders
#Nifty Directions and levels for the 2nd Week of S Global Market Overview Last week, the global market had four red candles, which suggests that the negative trend might continue this week as well. But if you ask, "Will this correction go on for two or three more weeks?" my answer is no. The market structure shows that if it keeps correcting, it may find support near the previous low. If that happens, the market could start moving sideways. This is the current global market sentiment. Our Market Both Nifty and Bank Nifty followed the global sentiment last week. Structurally, we can expect further correction. Let’s look at the charts. However, both Nifty and Bank Nifty share the same overall structure. Nifty In Friday’s session, the Dow Jones closed with a solid red candle, so the first session of the week may open negatively. If this occurs, we can expect a correctional target of the 61% Fibonacci level on the downside. In the meantime, it may consolidate around the 50% level (24716). > In this case, the 61% Fibonacci level serves as a key support zone. After the market reaches this level, we could see a bounce back of about 23% to 28% in the current swing. This is our first scenario.
NSE:NIFTY
by Manickamtraders
#BankNifty Directions and levels for the 2nd Week of September#Bank Nifty Current View If the week starts negatively, we can expect a correctional target of at least 49894 to 49697 on the downside. In the meantime, consolidation may occur around the 50262 level (78%). In this case, the levels of 49894 (MDZ) and 49697 will act as key support zones. After the market reaches these levels, we could see a bounce of 23% to 28% in the current swing. This is our first scenario. Alternate Scenario If the correction finds rejection around the immediate support and breaks the 38% Fibonacci level in the minor swing, it could become a range-bound market, targeting between 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders