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Elliott Wave

#Banknifty directions and levels for September 6th. Current view: BankNifty shares the same sentiment due to its range-bound structure. If the market opens with a gap-down, we can expect an immediate target of 51303. After reaching this level, if it consolidates or breaks solidly, the correction may continue toward lower levels, with a minimum target of 51206, extending down to the 78% Fibonacci level. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: Alternatively, if the initial market pullback is strong, or if it rejects around the immediate support level, the range-bound market may continue. If this happens, we can expect a bounce back of 61% to 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 6th.Good morning, friends! 🌞 Here are the market directions and levels for September 6th. Market Overview: The global markets are showing a moderately bearish trend, as indicated by the Dow Jones. Our local market also reflects a similar sentiment. However, today, the market may open with a gap-down, based on SGX Nifty’s negative indication of around -80 points. Both Nifty and BankNifty have been maintaining a range-bound sentiment. Will this continue today as well? The probability is high; however, we will need to confirm by checking the charts. Nifty: Current view: The market is still trading within a range, so we should wait for a proper range breakout even if it opens with a gap-down. If the market opens gap-down, we can expect immediate targets are the 78% Fibonacci level to the minor demand zone. After reaching this area, if the market consolidates or breaks solidly, the correction will likely continue toward lower levels of 24998 to 25037. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: On the other hand, if the market shows a strong pullback initially or if it rejects the immediate support level, it might try to maintain the range-bound structure. In this case, we could expect a bounce back of around 38% to 61% in the minor swing.
NSE:NIFTY
by Manickamtraders
5
NSE ASIANPAINTS - At the Edge of Kinfe Timeframe: Daily NSE ASIAN PAINTS has been undergoing a corrective phase for about 80 weeks, with its price confined within a range of 3329 – 2938 , excluding excesses. The ADX indicator has declined to 21, while the average true range (ATR) stands at 43. Presently, the price has breached the 20-day exponential moving average (EMA) and is trading below the 50, 100 , and 200 EMAs. According to the wave principle, the price has formed a corrective formation A-B-C. Wave (B) occurred at 3422.9 , and wave (C) has taken place. Wave (C) has already reached 100 % of wave (A), indicating equality between wave (A) and wave (C). Sub-wave 4 of wave (C) is expected to occur, followed by wave 5 of wave (C). A buying opportunity may arise if the price breaks above the wave A – C line and maintains levels above 2931. Targets for the Long position would be 3026 – 3152 – 3285+. We Will update further information soon.
NSE:ASIANPAINT
by forextidings
2
NVDA: Correction PhaseHello everyone,😉 I’ve put a scenario for the stock 'NVDA' together, which is currently drawing attention. This scenario is based on not only the "Elliott Wave Theory" but also various analytical tools, so please take it into high consideration. ✔️ Wave from $140.76 downward: "Extended Flat" This is an 'Extended Flat' composed of a 3-3-5 structure. The final C wave was completed as an 'Extended fifth wave impulse.' ✔️ Wave from $90.69 upward: "Zigzag" This is a 'Zigzag' with a 5-3-5 structure. The A wave and C wave have a 1.618 ratio, which adds a high level of credibility. ✔️ Conclusion: Projected Path Based on the wave count so far, I’ve drawn the projected path. I anticipate the appearance of a downward impulse wave and used the downward parallel channel and Fibonacci levels to estimate the potential decline range. First support zone: $100.03 Second support zone: $84.57 (very strong) Good luck! This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities are yours.
NASDAQ:NVDALong
by Killer_Whales
BITCOIN: Elliott Wave & ChannelGreetings, everyone.😉 I would like to present a scenario for your consideration, grounded in "Elliott Wave Theory" . ✔️ Wave initiated from the 15K level: Classified as a "Double Zigzag" ✔️ Current wave in development: Y-c-3 ✔️ Projected upward range: 93K ~ 101K The rationale behind this analysis is as follows: Zigzag patterns typically move within a parallel channel. The first zigzag wave, which started from the 15K level, adhered precisely to this parallel channel. As a result, the likelihood of a complex correction occurring is considerably high. Based on these observations, I have constructed this particular scenario. It is an illustrative representation of potential market behavior, grounded in established technical principles. Wishing you all the best of luck🍀 This is not a buy or sell recommendation. It is a personal perspective and should be used for reference only. All decisions and responsibilities lie with you.
Long
by Killer_Whales
#Banknifty directions and levels for September 5th.Current View BankNifty's current view differs slightly from Nifty. If the market opens with a gap-up, we can expect it to reach a minimum of 78% on the upside. After that, if it consolidates or breaks this level, it could move higher. > The potential, however, will be determined by the strength of the breakout. With a solid breakout, we can expect the minimum targets of 51,766 to 51,814. If the breakout is gradual, it may not go as high. Alternate View The alternate view is similar to Nifty: if the market rejects the 78% level or takes a sharp decline initially, the range-bound market will likely continue. The expected targets are a minimum of 38% to 61% of the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for September 5th.Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both Nifty and BankNifty have been range-bound. What about today? It’s likely that the range will continue, but let’s take a look at the charts. Nifty Current View If the market opens with a gap-up, the 78% level will act as crucial resistance. If it consolidates or breaks this level, we can expect the next targets to be a minimum of 25,333 to 25,366. This is our first scenario. Alternate Scenario On the other hand, if the market rejects the 78% level or takes a sharp decline initially, the range-bound market is likely to continue. The expected targets would be a minimum of 38% to 61% of the minor swing.
NSE:NIFTY
by Manickamtraders
EWT – Can Bulls Push NSE JIOFIN to New Highs?Timeframe: Daily After hitting a low of 202.8, NSE JIOFIN has formed an impulsive cycle. Wave ((2)) has not retraced more than 100% of Wave ((1)). Sub-Wave (3) is a powerful extended wave, reaching 261.8% of the Fibonacci extension of Wave (1). The price has completed Wave (4) at 307, marking an exact 50% retracement of Wave (3). The impulsive structure is expected to resume following a breakout above the corrective slope. However, if the price encounters strong resistance at the upper channel, there is also a possibility of a triangle formation on the daily timeframe chart. The 337 level will pose a significant challenge for the bulls to overcome. According to the alternative chart, the price has completed Wave D at 337.95 and has begun forming Wave E. If the price doesn’t break below the low of Wave C, Wave E could alternatively be interpreted as a 1-2 wave formation. If price breaks out 338 , traders can trade for the following targets: 360 – 383 – 405 +. A breakdown of Wave A at 307 will require a reassessment of the entire wave structure We will update further information soon.
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NSE:JIOFIN
by forextidings
7
#Nifty directions and levels for September 4th.Good morning, friends! 🌞 Here are the directions and levels for September 4th. Market Overview The global market experienced a significant decline in the previous session, structurally indicating a bearish sentiment (based on the Dow Jones). Our local market has been maintaining a moderately bullish sentiment. However, today the market may open with a significant gap-down based on the GIFT Nifty's 200-point negative indication. I have shared a basic Elliott Wave structure. If the market opens with a long gap-down, then both Nifty and Bank Nifty will react in line with one of the following two variations. Let’s take a look: Nifty Current View: If the market opens with a long gap-down, Nifty may find support around the 78% Fibonacci level or a minor demand zone. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 4th.Bank Nifty Current View: The sentiment is similar to Nifty; however, for Bank Nifty, it’s uncertain where it will open exactly, so I’m making an assumption. If the market opens with a long gap-down, it may find support around the 61% to 78% Fibonacci level. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:BANKNIFTY
by Manickamtraders
3
BankNifty ( Elliott Wave) - Will 51700+ Be The Short Term TopDisclaimer: This is not a solicitation to buy or sell any financial instruments. Please consult your financial advisor. Explore the latest Bank Nifty analysis with WaveTalks. Will 51700+ be the short-term top? Discover insights and potential market moves as we decode the whispers of the market. Stay informed with WaveTalks - Market Whispers! Let's Jump In ... As discussed in the last idea published on 29th August, it was suggested that holding the 50938 / 50939 critical level, Index can make new highs beyond 51404 which is very much possible. The market tested traders' patience on Friday, 30th August, and continued to do so on Monday, 2nd September, and even on 3rd September, with many feeling the urge to give up. However, bulls were fortunate as a last-minute explosive move took BankNifty from 51400 to 51750—a 350-point jump towards the end of the session. Now, with U.S. markets trading in deep red, with major indices like S&P, Dow, and Nasdaq all down more than 1%, the big question arises: Has the BankNifty pattern we’ve been discussing since last week finally completed? Are we about to fall below 50939, potentially slipping down to the 50300 support level? Only time will reveal the answers to these questions.
NSE:BANKNIFTYShort
by WaveTalks
3
#Nifty directions and level for September 3rd.Good morning, friends! 🌞 Here are the directions and levels for September 3rd. Market Overview The global and local markets are still maintaining their consolidation phase with a bullish outlook, supported by the Dow Jones. Today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM. There have been no significant changes, and both Nifty and Bank Nifty are maintaining their consolidation structure. What about today? Simply put, it might continue in the same way. However, we need to observe how it continues this structure and whether it takes the next move. Nifty Current View: The basic structure suggests that if the market opens with a gap-up or if it finds support around the 38% Fibonacci level on the downside, the range-bound market is likely to continue. After that, if it breaks the range to the upside, the next target could be the minor supply zone. Alternate View: The alternate view suggests that if the correction takes a sharp decline and consolidates or breaks the 50% Fibonacci level, it could fall further to the level of 25119 or the 78% Fibonacci level. > In this case, if it doesn’t break the 50% Fibonacci level, the range-bound market will likely continue as usual. Pattern Structure: For pattern traders, there is a forming bearish Head and Shoulders pattern. If you have confidence in this pattern, you can use it as well.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and level for September first week.Bank Nifty: Structurally, Bank Nifty differs from Nifty. However, if this week starts positively, we can expect it to reach at least the 78% Fibonacci level on the upside. in this case, > If the market takes time to reach that level, it may undergo a correction of 23% to 38% in the minor swing. This means if it reaches the 78% level gradually, it may lead to a minor correction. >On the other hand, if the market reaches that level solidly (78%), the rally will likely continue to the next supply zone (52,035). Alternate View: The alternate view suggests that if this week starts with a negative candle, then structurally, we can expect a range-bound market, which means a flat correction. In this case, if the market breaks the demand zone aggressively, it may reach a minimum of the 78% Fibonacci level down to the swing low in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and level for September first week.Nifty and Bank Nifty Directions for the First Week of September Global Market Overview The global market hasn't changed much and continues to trade within a range, so the overall sentiment remains positive. However, there are a few events this week that need to be monitored closely. Our Market: In the previous week, both Nifty and Bank Nifty closed with positive candles, suggesting that this momentum may continue this week. Meanwhile, there are no major events in our local market, which could indicate that there might not be significant moves on the downside. However, we should check the charts for more clarity. Nifty: In the previous week, Nifty moved solidly, but most of the gains occurred in the initial movements. What about this week? Current View: Structurally, if the market breaks the supply zone solidly, then the rally will likely continue to the level of 25,537 with minor consolidation. This is our first scenario. If this happens, it could signify the continuation of the 3rd sub-wave. Alternate View: > The alternate view suggests that if the market faces rejection around the minor supply zone (25,377) or if this week starts with a negative candle, we can expect a correction of 23% to 38% in the minor swing, potentially indicating a 4th sub-wave. > The correction may not be deep, so if it reaches the downside 38% Fibonacci level, the rally could continue further. However, if it breaks below the 38% level, we might need to reconsider our direction.
NSE:NIFTY
by Manickamtraders
6
Maruti Suzuki - Will it fly Above 12555 Disclaimer: This is not a solicitation to buy or sell. Consult your Financial Advisor before trading. ----------------------------------------------------------------------------------------------- As discussed earlier on 19th Aug ...Above 12555 ...Will Maruti Make An Attempt to Fly & Will it reach the upper trendline & make new highs beyond 13680 Will it Complete One of the Most Important ElliottWave Structure & Its pending Wave 5 on Upside What Level You Should Avoid Trading ? So Many Questions But Only time Know's the Exact Answer Catch Me in Next Episode of WaveTalks- Market Whispers! Can You Hear Them? ....
NSE:MARUTILong
by WaveTalks
5