Silver may continue moving upwardSilver is bullish. We have to wait for the support level for further decision. It is for educational purpose only. Not recommended for live trade. One can test his study.
Elliott Wave
#Nifty direction's and levels for August 16th.Nifty has a range-bound market structure. There are two possible scenarios:*
1. *If the market finds support around at the 61% Fibonacci level, we can expect a bounce back that may once again reach today's high.*
2. *If the market consolidates around those support levels, (the 61% Fibonacci level), then the correction may continue further.*
*In my personal opinion, if you're a conservative trader, it's advisable to go with the latter scenario(2nd one), as there is a 60% probability of success.*
#Banknifty direction's and levels for August 16th. Bank Nifty has a range-bound market structure. There are two possible scenarios:*
1. *If the market finds support around at the 78% Fibonacci level, we can expect a bounce back that may once again reach today's high.*
2. *If the market consolidates around those support levels, (the 78% Fibonacci level), then the correction may continue further.*
*In my personal opinion, if you're a conservative trader, it's advisable to go with the latter scenario(2nd one), as there is a 60% probability of success.*
Bank Nifty Reversal Trade-Setup with Great RRBank Nifty is trading at big demand zone and and we see significant potential for an upside move for several reasons:
Reasons for Going Long in Bank Nifty:
1. Ichimoku Daily Cloud Bottom
2. Ichimoku Weekly KS Support
3. Bullish MACD Divergence on the 1-hour time frame
4. Completing Triple Correction—WXYXZ (considering a truncated scenario; otherwise, BN might aim for the 127% and 161.8% levels mentioned in the earlier post)
CMP: 49,718
Expected Targets: 51,300, 51,700
Stop Loss: 49,590
Disclaimer : We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Bank Nifty Next Move and Possible Reversal Zones. Bank Nifty is in a nice downtrend, and we feel it's forming a "WXYXZ" wave pattern.
Ichimoku Signals: One hour Cloud SSB rejected the price and currently trading below TS KS, indicating the bearish trend will continue and go down for wave Z, and expected destinations are:
127.2% == 49342
161.8% == 48935
Stop Loss = One hour candle above TS KS (50573) should be fine.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
#Banknifty directions and levels for August 14th.1st Scenario:
>Even if the market opens with a gap-up, structurally it may not sustain. If this happens, we can expect the correction to continue towards the levels of 49,697 to the demand zone when it breaks the previous day’s low.
>After that correction, if the market finds support around the major support levels, we might see a 23% to 38% bounce back. However, this bounce is not guaranteed; if it doesn’t occur, the correction may continue with minor consolidations.
2nd Scenario:
If the gap-up sustains structurally, we can expect an initial bounce back of 23% to 38%. Usually, sharp movements bounce back within this range. If the price gets rejected at this level, the major trend will likely continue. However, if it breaks the 38% Fibonacci level solidly, the current movement may shift to a range-bound market. But the probability of this is less likely.
#Nifty directions and levels for August 14th.Good morning, friends! 🌞 Here are the directions and levels for August 14th.
Market Overview
Global markets have been maintaining a range-bound movement, while our local market shows a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start because the SGX Nifty indicates a positive 30-point move as of 8:00 AM.
Yesterday's Movement:
In the previous session, Nifty Nifty experienced drastic drops. However, if you take a broader view of the charts, these movements occurred within a range-bound market. Why does this matter? Because if the market rejects any of the support levels, a solid bounce might occur.
So, what about today?
I’m highlighting two possible scenarios:
1st Scenario:
>Even if the market opens with a gap-up, structurally it may not sustain. If this happens, we can expect the correction to continue towards the levels of 24,079 to the 78% Fibonacci level, to the demand zone when it breaks the previous day’s low.
>After that correction, if the market finds support around the major support levels, we might see a 23% to 38% bounce back. However, this bounce is not guaranteed; if it doesn’t occur, the correction may continue with minor consolidations.
2nd Scenario:
If the gap-up sustains structurally, we can expect an initial bounce back of 23% to 38%. Usually, sharp movements bounce back within this range. If the price gets rejected at this level, the major trend will likely continue. However, if it breaks the 38% Fibonacci level solidly, the current movement may shift to a range-bound market. But the probability of this is less likely.
These are today's expectations.
BankNifty - Bullish Shark Sitting on Rising Parallel Channel11:38 am / 13th Aug 2024
Last - 50325
The Bank Nifty chart showcases a Bullish Shark Harmonic Pattern forming within a rising parallel channel . The pattern suggests a potential bullish move, provided that the price holds above the crucial level of 50149 , which should act as a strict stop loss for any long positions.
If the bulls can defend this key level, there is a strong possibility that the index could aim for the upper target zone around 50800+ levels . The alignment of the Shark pattern with the rising channel supports this bullish outlook.
Traders should monitor the price action closely, as maintaining the channel's support is critical for uptrend to start next & reach the target area close to 51000 -which is very important psychological level & Strong supply zone.
What is Supply Zone ? -Try & Ask these questions to yourself - get the answer, get the move & enjoy your week.
Regards,
WaveTalks
#Banknifty directions and levels for August 13th.Bank Nifty Analysis
Bank Nifty is showing a diagonal pattern. In the previous session, it had significant swings, but they closed near neutral by the end of the day. If we simplify it, we can say it's a range market. However, structurally, it’s a diagonal pattern, and there’s no real difference between the two because both are time adjustment patterns.
So, we should wait for a breakout from this range, whether to the upside or downside. If it breaks out, we can expect only a minor trend initially because the structure suggests there isn’t a big move ahead. But if we see a solid breakout candle, then we can expect stronger momentum. This forms our basic structure. However, if the range isn’t broken, the market will likely continue moving within it.
#Nifty directions and levels for August 13th.Good morning, friends! 🌞 Here are the directions and levels for August 13th.
Market Overview
Both global and local markets have been trading within a minor range. Today, the market may open with a neutral to slightly gap-down start because the SGX Nifty is indicating a negative 20-point move.
Nifty Analysis
Nifty showing a diagonal pattern. In the previous session, nifty had significant swings, but it closed near neutral by the end of the day. If we simplify it, we can say it's a range market. However, structurally, it’s a diagonal pattern, and there’s no real difference between the two because both are time adjustment patterns.
So, we should wait for a breakout from this range, whether to the upside or downside. If it breaks out, we can expect only a minor trend initially because the structure suggests there isn’t a big move ahead. But if we see a solid breakout candle, then we can expect stronger momentum. This forms our basic structure. However, if the range isn’t broken, the market will likely continue moving within it.
#Nifty directions and levels for August 12th.Good morning, friends! 🌞 Here are the directions and levels for August 12.
Market Overview
Both global and local markets have been trading within a minor range. Today, the market may open with a neutral start because the SGX Nifty is indicating a positive 5-point move.
Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look:
In the previous session, both Nifty and Bank Nifty closed with consolidation after a significant gap-up. If the market breaks the previous high, then we can expect a minor rally, but not a big one. A big rally is expected only if the breakout occurs with a solid green candle and some consolidation around the immediate resistance level. However, if this doesn't happen, the market may reject at that level and continue in its current range, which is our first scenario.
Alternatively, if the market initially declines, the 38% Fibonacci level will act as a key support. If the market finds support there, the range-bound movement may continue. On the other hand, if it breaks below the 38% level, we can expect the correction to continue.
#Banknifty directions and levels for August 12th. In the previous session, Bank Nifty closed with consolidation after a significant gap-up. If the market breaks the previous high, then we can expect a minor rally, but not a big one. A big rally is expected only if the breakout occurs with a solid green candle and some consolidation around the immediate resistance level. However, if this doesn't happen, the market may reject at that level and continue in its current range, which is our first scenario.
Alternatively, if the market initially declines, the 38% Fibonacci level will act as a key support. If the market finds support there, the range-bound movement may continue. On the other hand, if it breaks below the 38% level, we can expect the correction to continue.
NIFTY 50 (ELLLIOT WAVE ANALYSIS) 12/08/24.As nifty is in a consolidation phase in higher TF.
It is travelling inside a rising wedge.
Currently it has completed C wave and started the D wave.
After completing E wave we can expect a downfall of around 350 to 500 points minimum.
#Banknifty directions and levels for the 3rd week of August.
As per the chart Bank Nifty has a range-bound structure. However, the market closed at the top of this range by the end of the week. So, if the market starts with a bullish bias, it may reach the swing high once again. This is because, as we mentioned in the previous post, if the market breaks the 50% level in the minor swing, it will lose the strength of the current trend. If this happens, it may reach the Fibonacci levels of 61% to 78% on the upside. However, there are two variations for the bullish sentiment.
1. First Variation: If the initial day's candle closes with a solid bar, then the market may continue the pullback with minor consolidation around the Fibonacci level of 61% in the upcoming sessions.
2. Second Variation: If the market faces rejection around the minor supply zone or if the week starts with a negative candle, then the range-bound market may continue further.
The Bearish Variation:
The bearish variation suggests that if the market potentially breaks the channel, then it may continue the correction. There are some minor levels to watch, which is typical. If the market breaks the 38% level in the minor swing, we can expect the next target to be 78%.
#Nifty directions and levels for the 3rd week of August.Good evening, friends! 🌺🍬 Here are the market directions for the 3rd week of August:
Global Market Overview
In the previous week, global markets experienced a consolidation after a sharp decline, which indicates that the market is structurally bearish. So, what about this week? My expectation is that the bearish sentiment might continue because the US market will release PPI and inflation data, which could be a key factor in determining the next direction.
Nifty and Bank Nifty
Last week, Nifty and Bank Nifty saw significant ups and downs, but this movement happened within a range. So, what about this week? Let's break it down.
As per the chart, both Nifty and Bank Nifty have a similar range-bound structure. However, the market closed at the top of this range by the end of the week. So, if the market starts with a bullish bias, it may reach the swing high once again. This is because, as we mentioned in the previous post, if the market breaks the 50% level in the minor swing, it will lose the strength of the current trend. If this happens, it may reach the Fibonacci levels of 61% to 78% on the upside. However, there are two variations for the bullish sentiment.
For Nifty:
1. First Variation: If the initial day's candle closes with a solid bar, then the market may continue the pullback with minor consolidation around the Fibonacci level of 61% in the upcoming sessions.
2. Second Variation: If the market faces rejection around the top of the channel or if the week starts with a negative candle, then the range-bound market may continue further.
Why did I mention the diagonal pattern? (Second Variation:)
because the previous structure also looks like an expanding diagonal, and the pullback also broke the 38% level. So, both conditions suggest a minor reversal. However, don't expect a major move because a diagonal is an accumulation pattern when it forms at the bottom of a trend, so it could take some time for the next movement.
The Bearish Variation:
The bearish variation suggests that if the market potentially breaks the channel, then it may continue the correction. There are some minor levels to watch, which is typical. If the market breaks the 38% level in the minor swing, we can expect the next target to be 78%. It may resemble a diagonal pattern, but there is a key difference:
> that, if the correction follows this variation, the decline could be sharp and fast.
> However, a diagonal typically doesn’t have much volume and usually faces rejection before the channel breakout.
#UJJIVANSBF .......Mid to long term bullish view NSE:UJJIVANSFB
As a Elliott wave practitioner I can say we are in impulsive wave.
Currently 4th wave going on which is nearly to end.
4th wave support 40 or in worst case 38
5th wave target could be 72 (if not then previous high)
In long term view I can say that a bullish pattern forming
Which called " Cup & Handel " pattern
Long term price target 110.
Stock is providing a good dividend yield of 3.55%.
Company is expected to give good quarter
Company has delivered good profit growth of 45.0% CAGR over last 5 years.
RAILTEL - AS PER FIB RETRACEMENT, CORRECTION WAVE MIGHT BE OVERHi,
This idea is about Railtel Corporation of India Ltd
ABOUT THE COMPANY
RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Miniratna" PSE of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers
TECHINCALS
As per the price action, the first impulse wave took the price all the way from 337 to 615. THen the correction wave commenced which pulled back the price from 615 to 440 levels. The price point as per fib retracement is at the point of 50-61% which as per Elliot Wave theory should be the correction wave
Next impulsive wave could start if the price aloses above 475 with volume support
FUNDAMENTALS
Market Cap
₹ 15,066 Cr.
Current Price
₹ 469
High / Low
₹ 618 / 163
Stock P/E
56.4
Book Value
₹ 56.9
Dividend Yield
0.61 %
ROCE
20.2 %
ROE
15.2 %
Face Value
₹ 10.0
Equity capital
₹ 321 Cr.
No. Eq. Shares
32.1
EPS
₹ 7.99
Promoter holding
72.8 %
Change in Prom Hold
0.00 %
Chg in Prom Hold 3Yr
0.00 %
Pledged percentage
0.00 %
Market Cap to Sales
5.67
Sales growth
29.8 %
PEG Ratio
3.81
EVEBITDA
27.9
Quick ratio
1.16
Trade receivables
₹ 1,268 Cr.
Sales
₹ 2,658 Cr.
Debt to equity
0.02
Price to book value
8.25
Free Cash Flow
₹ 347 Cr.
CMP / FCF
75.8
Thanks,
Stock-n-Shine
DXY 1 D - ANALYSIS 10 AUG 2024
Definition: Explain what the DXY (US Dollar Index) is and how it measures the value of the US dollar against a basket of major foreign currencies.
Importance: Highlight why the DXY is a crucial indicator for forex traders, investors, and economists.
2. Market Analysis
Current Trends: Present recent trends in the DXY, including historical data and recent movements.
Technical Analysis: Use charts and technical indicators to analyze patterns that suggest a potential decline in the DXY. Include tools like moving averages, RSI, MACD, and support/resistance levels.
3. Economic Indicators
Impact of Economic Data: Discuss how economic data (like GDP growth, employment figures, and inflation rates) affects the DXY.
Federal Reserve Policies: Explain how interest rate changes and monetary policy from the Federal Reserve influence the DXY.
4. Global Factors
Geopolitical Events: Examine how global geopolitical events, such as trade wars, political instability, or international conflicts, can impact the DXY.
Comparative Currencies: Compare the US dollar’s performance with other major currencies like the Euro, Yen, or Pound.
5. Risk Management
Risk Factors: Outline potential risks involved in selling the DXY, including unexpected economic announcements or geopolitical events.
Strategies: Offer strategies for managing risk when betting against the DXY, such as setting stop-loss orders and diversifying investments.
6. Case Studies
Historical Examples: Provide case studies or historical examples where selling the DXY proved profitable or unprofitable. Analyze these cases to offer insights into current market conditions.
7. Expert Opinions
Interviews: Feature insights from financial analysts, economists, or trading experts who can provide professional opinions on the DXY’s future.
Market Sentiment: Summarize current market sentiment and how it aligns with or contrasts against your position on selling the DXY.
8. Actionable Insights
Investment Strategies: Suggest specific trading strategies for those interested in selling the DXY, such as short selling, options trading, or futures contracts.
Tools and Resources: Recommend tools, platforms, or resources that traders can use to track DXY movements and execute trades.
9. Conclusion
Summary: Recap the key points discussed and reinforce why selling the DXY could be a profitable strategy.
Charts and Graphs: Use visual aids to illustrate trends, technical analyses, and economic impacts.
Infographics: Create infographics to simplify complex information and make it more accessible.
Videos/Webinars: Host video analyses or webinars to provide a dynamic and engaging way to discuss DXY selling strategies.
#sbi card.........cmp-709.80NSE:SBICARD
My primary view I bullish until it's hold 700-702 level
I am assuming that 1st wave completed and 3rd wave
going on.
Currently we are in 2nd wave (1 of 3rd) which probably
end on monday then we started wave 3rd which leads
price to 742.
Overall if the correction has been completed ( weekly
chart suggest ABCDE pattern which is almost end )
then 3rd wave target near 850.
Disclaimer- I am sebi registered. This idea only for educational
purpose .
#SBI CARD. ........CMP-709.80SBI CARD
My primary view is bullish now.
Until it's hold 702 level.
I am assuming that we are going to se 3rd (3) wave
which leads price to 740 or further in extension.
WEEKLY CHART ALSO SUGGESTING THAT THE (ABCDE) PATTERN MIGHT COMPLETED.
NSE:SBICARD
#Nifty directions and levels for August 9th.Good morning, friends! 🌞 Here are the directions and levels for August 9th.
Market Overview
Both global and local markets have been trading within a minor range. Today, the market may open with a gap-up, as indicated by a 250-point positive start in GIFT NIFTY.
Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look:
Nifty:
In the previous session, Nifty experienced some minor oscillation due to the monetary policy. However, it closed within Tuesday's range. Structurally, it remains a range-bound market.
> According to Elliott Wave theory, we expect three swings in this range-bound market. With two swings already completed, we are anticipating a third one.
> In today’s market, after the gap-up, if it encounters resistance around the immediate resistance level, it may lead to a correction. if it happens, The corrections are expected to range between 38% to 78% of the minor swing—this is our first scenario.
>In this case, if it consolidates or breaks solidly (at the 61% Fibonacci level on the upside), then the rally will likely continue.
Alternatively, if the gap-up doesn’t sustain or if it rejects around the previous high, the range-bound market will likely continue. Structurally, it could form a triangle pattern. However, trading in range-bound market movements can be somewhat challenging, and premiums may also be affected.
#Banknifty directions and levels for August 9th.Bank Nifty:
Bank Nifty is also maintaining its consolidation. If the gap-up sustains and breaks the level of 50,468, then we can expect the next targets to be 50,688 and 50,823.
> Here, we have the same sentiment as in Nifty: after the pullback, if it sharply rejects around the level of 50,823, the market may enter a correction phase. Targets are expected to range between 38% to 78% of the minor swing.
> On the other hand, if it consolidates or breaks solidly above the level of 50,823 on the upside, then the rally will likely continue.
The alternative scenario is if the gap-up doesn't sustain or if the market initially declines, then the range-bound market will likely continue.
#Nifty levels for August 8th.Good morning, friends. Today, our market has a major event, that, the RBI monetary policy announcement. So, the market will mostly move based on this event. however, I’m sharing my Fibonacci levels. The directions are as we expected in the weekly analysis because some sub-waves are bending. but, we should follow what the market is saying, not just our analysis. Have a nice day!🤝🍬
