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Elliott Wave

Nifty’s Final Shakeout? Ending Diagonal May Be the Exit ClueNifty appears to be unfolding a WXY corrective structure: Wave W ended at 24,462.40 Wave X bounced up to 25,079.20 The current decline looks like Wave Y, forming a classic ending diagonal Ending Diagonal Details: Overlapping waves with a contracting structure Final Wave 5 of the diagonal may be unfolding now Invalidation level (for stop-loss logic): 24,864.25 If price moves above this, the wave structure is likely invalid Target Zone: Wave 5 projected to complete between 24,522.55 and 24,311.50 (using 1x to 1.618x of Wave 1 within the diagonal) Summary: If the diagonal plays out, a breakdown toward the green box is likely. Above 24,864 , the setup is invalid. Watch price action closely.
NSE:NIFTYShort
by WaveXplorer
Setup Intact, Eye on Wave 5?This is a follow-up to my earlier analysis on Canara Bank, where we identified the completion of an ABC correction and the start of a fresh impulse. What’s happened since: Price respected the projected Wave 3 (yellow) target of 109.50 – exactly 1x of Wave 1. A healthy correction is underway, likely forming Wave 4 (yellow) . The pullback is holding within the 0.236–0.382 retracement zone (105.12 to 102.63) – make-or-break zone . What’s next: If the structure holds above 102.63, a bullish Wave 5 (yellow) may extend the rally toward the 120+ zone, completing Wave 3 (green). Break below 102.63 invalidates the count and opens the door to a more complex correction. This is for educational purposes only.
NSE:CANBKLong
by WaveXplorer
JIOFIN – Expanded Flat? Wave C on RadarSince the last analysis, price dipped to ₹270.35 (near 0.236 retracement), then bounced sharply to ₹284.70 — breaking the Wave 5 high. This move confirms a Wave b rally that extends 159% of Wave a, a classic signature of an Expanded Flat correction. What this means: Wave b has trapped breakout buyers. Expect Wave c next — likely a sharp decline below ₹270.35 to complete the correction. RSI still shows divergence and momentum looks tired. Watching for: ₹265–₹255 as potential Wave c landing zone. Reclaiming ₹285+ invalidates this short-term correction view. Structure remains educational. Stay sharp.
NSE:JIOFINShort
by WaveXplorer
1
Technical Analysis of DXY (US Dollar Index) for the Week of May # Current Price Action and Market Context Recent Price Movement: As of May 23, 2025, the DXY closed at approximately 99.11, down 0.85% from the previous session's close of 99.96. The index has been trending downward, testing two-week lows near 99.14 after failing to reclaim the 100.50 level. Bearish Momentum: The break below 97.50 on the monthly chart signals a bearish structure with lower highs and lower lows, suggesting continued selling pressure. The next major downside target is around 96.00, with a potential longer-term target near 92.00. Key Fundamental Drivers: Recent weakness in the DXY is attributed to President Trump’s proposed 50% tariffs on European imports, which have undermined bullish momentum in the dollar. Additionally, anticipation of Federal Reserve interest rate decisions, upcoming US inflation data, and employment reports (e.g., Non-Farm Payrolls) will play a significant role in the DXY’s direction. -- Chart for your reference -- -- Disclaimer -- This analysis is based on recent technical data and market sentiment from web sources and X posts. It is for informational purposes only and not financial advice. Trading involves high risks, and past performance does not guarantee future results. Always conduct your own research or consult a SEBI-registered advisor before trading.
TVC:DXYShort
by renderwithme
TTML: Unlocking Potential with Elliott WavesHello friends, Welcome to RK Chaarts.! Let’s analyse the chart of Tata Teleservices Maharashtra Limited from an Elliott wave perspective. We can see that in March 2023, the stock formed a bottom around 49.65 and then moved upwards in an impulse wave. We can identify wave one as complete, ending around the July 2024 high. After that, there was a sudden fall to the April 2025 low, which we assume to be the end of wave two. We expected it to reverse around the previous low, because wave II cannot retrace more than 100% of wave I (Elliott wave principles), and Same happened, it had reversed from that low to upside. Looking at the weekly chart, we can see that post wave II, price has broken the 0-B trend line with strong volume intensity. If our wave counts are correct, we can measure wave I and project wave III’s target using Trend based Fib extensions as per Elliott wave theory. According to the theory, wave III target could be around 150.70, which is 1.618 times the length of wave I. Projected Targets as per Elliott waves: So, friends, from an Elliott wave perspective, Tata Teleservices has strong potential to move upwards to around 150 rupees, with potential targets at 88, 112, 127, and 150 rupees. Invalidation levels: Please note that this analysis is for educational purposes only and involves multiple possibilities. The scenario presented focuses on one potential outcome, assuming the invalidation level of 49.65 is not triggered. If it is triggered, the chart would need to be reassessed, and wave counts would need to be reevaluated. This is not a tip or advisory, but rather a educational analysis. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Chaarts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Chaarts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:TTMLLong
by RK_Chaarts
3
INTU seems to have completed Correction and heading towards ~700INTU seem to have completed complex ABC correction,. Its last corrective leg had XYZ correction (provided we see break out from current segment) It seem to be heading towards ~700 in coming weeks/months Can the pattern change ? Yes we may have a Z wave hitting channel bottom, or one more larger ABC may play out for next few months (this is low probability) If any one needs larger time frame wave structure do comment so that I can share the road map that I see with INTU.,
NASDAQ:INTU
by jsgadgil
2
Finding Market Clues with Simple ToolsThis is not a trade I took — just an observation I found fascinating and wanted to share. In ANGEL ONE’s recent price action, I applied a simple 3-step process: Identify a turning point Spot a potential 5-wave Elliott Wave structure Look for RSI divergence at key highs/lows After a sharp downtrend, price made a lower low while RSI showed a higher low — hinting at a possible bullish reversal. Later, price moved up in what could be a 5-wave structure. But near the top, price made a higher high while RSI made a lower high — a possible bearish divergence. I didn’t trade this setup — but it’s fascinating how often these simple techniques reveal potential market shifts. It’s not about being right every time, but about learning to read the market structure better. Books like Elliott Waves Made Simple by Steve Sinclair have helped me more than any social media post. They teach you to think with structure, not noise. This isn’t a buy/sell recommendation. Just sharing something I’m practicing. Mistakes will happen, but that’s part of the learning curve. The market is always there — it’s on us to keep improving our technical reading.
NSE:ANGELONE
by WaveXplorer
1
CDSL [Follow up] – Wave (5) Ending or Extending?The earlier hypothesis of a bullish impulse in CDSL saw Wave (5) completing near the 1.0 extension from Wave (4), right at the upper channel boundary — a strong confluence zone. On closer inspection, the internal structure of Wave (5) looks more like an A-B-C rather than a clean 1-2-3-4-5, hinting at possible exhaustion. This raises the likelihood that Wave (A)/(1) may already be in, and a Wave (B)/(2) correction could be in progress. Still keeping an eye on the 1.618 projection as a stretch target if the trendline breaks. Until then — structure confirmation is key. Tools: Elliott Wave, Fibonacci Projections Timeframe: 30min / 1H for intrawave clarity
NSE:CDSLShort
by WaveXplorer
Canara Bank – Impulse Wave in Play After ABC Correction?From the mid-June 2024 high, Canara Bank completed a textbook ABC correction, with Wave C terminating precisely at the 100% retracement of Wave A from B. This setup marked the end of the downtrend and the potential beginning of a new impulsive uptrend. The current structure shows a higher-degree impulsive move (marked in green), within which Wave 3 appears to be subdividing into its own smaller impulse (yellow count). Notably, Wave 3 (yellow) has completed exactly 100% of Wave 1 from Wave 2 at 109.50, which aligns well with common Fibonacci projections. A healthy retracement (Wave 4 of yellow) is now underway, typically expected to fall within the 0.236–0.382 retracement zone. This region is a critical make-or-break zone — sustaining above 102.63 keeps the bullish structure intact and sets the stage for Wave 5 (yellow), which could complete the larger Wave 3 (green). Once Wave 3 (green) tops out, a correction in Wave 4 (green) could unfold, again within the 0.236–0.382 retracement zone. Monitoring RSI divergence will be essential to identify exhaustion at the top of Wave 3. If the pattern continues to hold, Wave 5 (green) could push price to 130+ levels , assuming a minimum 1x projection of Wave 1 from the Wave 4 base. The structure remains valid only as long as 105.12 and 102.63 are respected . A deeper breakdown would suggest the count is invalid and we may instead be dealing with a complex W-X-Y-X-Z correction , with Z potentially unfolding below 78.60. Given that earnings and revenue reports in both Jan and May have been strong, the bullish case is fundamentally supported too. Still, alternate bearish counts must be kept in mind. This is a technical analysis for educational purposes only and not a buy/sell recommendation. Timeframe: 2hr Tools Used: Elliott Wave, Fibonacci Retracements, RSI
NSE:CANBKLong
by WaveXplorer
1
Jio Financial Services – Wave 5 Exhaustion? Retracement AheadJio Financial Services has completed a clean 1-2-3-4-5 Elliott Wave sequence, with each leg respecting Fibonacci levels well. From the Wave 4 low, price rallied and reached the 100% Fibonacci extension of Wave 1, marking ₹279.35 as a potential Wave 5 termination point. Key Technical Signals: Complete 5-wave impulse structure Wave 5 = 100% of Wave 1 Bearish RSI divergence at the top Volume shows signs of exhaustion These signals suggest that Wave 5 may have ended and a corrective phase could begin. Retracement Levels to Watch: A retracement from the top is expected toward: 0.236 level: ₹270.55 0.382 level: ₹265.10 Price action in this zone will help determine if this is just a correction or the start of a larger reversal. Indicators Used: Elliott Wave count Fibonacci levels RSI Volume Timeframe: 2H
NSE:JIOFIN
by WaveXplorer
1
EURUSD Chart Analysis : An Elliott Wave Approach Hello friends, welcome to RK Charts! Today, we'll analyse the EURUSD chart using Elliot Waves. This study is based on Elliot Wave theory and structure, which enables multiple possibilities. Please note that the possibilities outlined here are not definitive predictions, but rather potential scenarios. The provided information is for educational purposes only and should not be considered trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. We are not responsible for any profits or losses incurred. Individuals should consult a financial advisor before making any trading or investment decisions. Now, let's dive into the analysis. According to Elliot Wave principles, we're currently in a corrective pattern, which consists of ((A)), ((B)) and ((C)) patterns. We've completed ((A)) and ((B)) and are now unfolding ((C)). Within ((C)) we expect five sub-divisions, labeled as intermediate waves (blue bracketed): blue (1), (2), (3), (4) & (5). Almost four of these sub-divisions are completed, and we've just begun the (5). We've set an invalidation point at 1.1065, which is the recent low. If this low is not breached, we'll likely continue unfolding the (5) wave of ((C)), which should break above the high of wave (3). However, if the low is breached, it's possible that wave (4) is undergoing a double correction. Both scenarios are possible, and we'll continue to monitor the market's unfold. Scenario 1 Scenario 2 This study is a deep dive into Elliot Wave counts, aligned with the rules and principles of Elliot Wave theory, as well as higher time frame and higher degree analysis. I hope this analysis based on Elliot Wave theory has helped you understand the chart better and learn something new. Please keep in mind that this is for educational purposes only. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Long
by RK_Chaarts
3
Muthoot Finance Futures – WXY Done? Bounce ExpectedA W-X-Y corrective pattern may have just wrapped up in Muthoot Finance Futures, with Wave Y potentially completing at ₹2086.50. The final leg of this correction formed a neat a-b-c structure and tapped into a rising trendline support, adding strength to the bullish setup. If price pushes above ₹2150–₹2180, that would break recent swing highs and hint at trend reversal. But a fall below ₹2086 would invalidate the structure and open doors for deeper downside. 🧭 Bias: Bullish (as long as price holds above support). 📘 Just sharing my wave-based view — not financial advice. Open to thoughts and feedback!
NSE:MUTHOOTFIN1!Long
by WaveXplorer
SPX/ NDX/ DJI - Elliot Wave - Change in CountsI have expected May 8th as the top of the pullback in this post: However, it seems that there were more legs pending. View still remains that this is a counter trend rally, and we will eventually head down again. We are in 3rd of C and we will get another move up in 5th, which should mark the end of the entire leg up. If I am invested in US markets - I would use this rally to book profits! View is similar in Nasdaq and DJI, so not sharing those charts again. :) All the best!
SP:SPXShort
by pankajarora232
Nifty - Elliot Wave Update So, thankfully we have been aligning are views with the market and reviewing counts at the right time. Lucky much? :) On May 2nd - We caught the top, when the breakout didn't look convincing We got a good correction (Correction was even better in stocks) and booked out at around 24k on May 9th, and changed views, again as the fall wasn't as bad as it was expected after the end of 5th. Hence, it made sense to expect a 5th up. This change in view helped us ride a good move of +1000 points in Nifty and multiple +10% moves in stocks (crazy moves there). Now, while the view shared on May 9th still remains valid, there's an even more bullish view possible. Ideally, I should have waited for more clarity, but thought that someone shouldn't book out of positions, if it's actually that. So, there are two scenarios: 1. We are in 5th up/ which got done, is about to be done. In this case we head down to 23500 or so and then we review if this bounce was corrective or we are going to ATH. 2. We did 1 and 2 and have started 3 up. Within 3 we started the 3rd up today. If this is true, the run up should continue for next few days. How to decide, I am keeping 61.8% of today's move as a deciding factor. So, if we come back to 24700, I'll be out of longs - will even book cash trades and wait for clarity to re-enter. P.S.: You must be wondering, what the two Orange circles denote - Well they are for reminding me that this price action can be a trap, as it has happened in past. :D Though looking at set-ups in stocks and the way they are moving after clearly defining a base - I am quite confident that the low has been made for this correction. As usual, important to track closely and be nimble to change the view and humble to accept mistakes :) All the best!
NSE:NIFTYLong
by pankajarora232
1
Is BTCUSD still in WXY correction phase ?BTCUSD continues to be correcting till 48K-62K band, this is weekly chart so it will take time. Current up-move seems to be X wave as indicated., Why 51-62K is the band where correction will end ? a. Technical divergence gets resolved here b. 1.618 Fib relation of assumed corrective Wave-W falls in this band Can the current rising segment impulsive ? No because current rising segment is pretty corrective supporting high probability of next wave-Y Will the correction stop at Wave-Y ? May not be as one more leg up (Wave-X) and one more Leg down (Wave-Z) can be formed
BITSTAMP:BTCUSDShort
by jsgadgil