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Elliotwaveanalysis

JIO FINANCIAL SERVICESHello & welcome to this analysis The decline from May 2024 till Mar 2025 appears to be an Elliott Wave corrective ABC that went on to make its all time lows breaking the previous one made in Oct 2023. The rally in Mar 2025 was a Leading Diagonal Impulse Wave 1 It was followed by Wave 2 - a corrective ABC which did a 88% retracement giving a double bottom in early April 2025. From there started the strongest & most reliable Elliott Wave - 3 that lasted the full month of April 2025. Since Wave 2 was deep the corrective Wave 4 did a zigzag and ended quickly mid May 2025. The terminal wave 5 of the larger Wave I is coming to an end around 275 - 280. This could lead to another round of corrective ABC which could be the larger Wave II in the making. Likely levels till where it could retrace its formation could be 255 at least, 240 probable & 205 hopefully maximum. Anything below Mar 2025 lows will make the Impulse wave rise as invalid. On the other hand, if the current wave continues to sustain beyond 285-290 then it could be unfolding a Wave 3 extension that could lead to much higher levels. Conclusion For buyers - wait for it to sustain above 285-290 to add, else wait for a dip to 255 - 240 and then review For sellers - between 275-280 wait for a bearish candle follow through keeping 285-290 as a stop loss. All the best
NSE:JIOFIN
by Dinesh_C_Nagpal
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
NIFTY ITHello & welcome to this analysis NIFTY IT (CNXIT) appears to have completed in Monthly from 2016 lows an impulse 5 waves up Weekly shows a running flat wave 4 followed by sub waves of the terminal 5th wave Daily indicates post the impulse an ABC corrective ended (ending) is this A of abc down after a monthly 5 up or is it wave 2 complete with this ABC? It is too early to say the latter. Normally the corrective tends to retest the start of the preceding sub wave 4 that is around 31000 but that is not mandatory as per Elliott Wave rules. An early indication of which wave is unfolding will depend on how the sub waves come out now, either they will be corrective, then it would be B of abc or they will be impulse then wave 2 has ended and index is into Wave 3. Interesting days ahead for IT index All the best
NSE:CNXIT
by Dinesh_C_Nagpal
1
Banknifty combining Elliott and wedge theoryBanknifty is repeating the wedge pattern, in confluence with Elliott waves falling exactly at the prices of support and resistance of the wedges. The Elliott wave used here is the in-built indicator of Tradingview. According to this, the 4th wave is finished and the price is projected to break out of the upper line of the wedge for a new high at 56864 as 61.8% As per the current price action, the price is at the support of the 2024 high, 54467.35. If it is breached, it will test the lower line of the wedge, and we will have another early buying opportunity at the support. The RSI is still above 50; therefore, the 2024 high level is proving to be good support. No selling is suggested unless the price is trading above this support level of 54467.35.
NSE:BANKNIFTY
by AbsoluteAnalysis
Another Possible Elliott Wave counting of GoldCounting 2: Here, after an impulse, a Zig-zag correction is formed (marked in red ABC) Here, I have assumed that this is just point (A) of further correction (in blue colour). Then the price has gone to form wave (B), and currently the market is in wave (C). This correction will complete near 61.8% (near 3164 level). And from here, a new impulse will start. This analysis is based on Elliott Wave theory and Fibonacci study. This analysis is for educational purposes only.
OANDA:XAUUSD
by theprofityogi
2
Nifty - Elliot Wave - Alternate counts - Bullish ScenarioI called a top on May 2nd as the buying looked like a trap - which usually acts as a good end of a trend move. It worked out quite well, but we didn't get a selling momentum, that I expected. So, contemplating if we are still in 4th and there's another leg up pending, which should be: 1. Bearish scenario - C of X - Y down should take us to new lows 2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k. It's a tricky position to be in. Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y. Ride the leg down and then take a call if it's bottoming out earlier or we are heading down? For the time being, I have booked all of my shorts and awaiting clarity. Cheers - All the best!
NSE:NIFTYLong
by pankajarora232
4
Nifty - Elliot Wave Analysis - Short Opportunity!We have had a good run-up from April lows. Today's buying seems like the last leg up which should end 5th up. Now there are two possibilities: 1. Bullish Scenario: Nifty has completed correction in April first week and we have done Wave 1 in an impulse of 5 waves up. In this case we should retrace 38-50% of the move from April lows. So, expect 500-1000 points in Wave 2. 2. Bearish Scenario: The entire move up from April lows was corrective and part of larger X. X is formed by ABC where C is 5 waves up - i.e. the move from April first week lows. If this is the case, then we head to new low in Y. 21500 or lower. In both cases this is the time to initiate shorts and ride at least 500 points the move down. All the best!
NSE:NIFTYShort
by pankajarora232
3
GBP/USD at a Turning Point – Correction Pattern in PlayIt appears that the corrective Wave A in the GBP/USD pair is nearing completion, and the formation of Wave B may be underway. The Wave 1 to 5 structure seems to have been completed, indicating the beginning of an A-B-C corrective phase. If the correction unfolds as expected, potential upside targets are 1.32918 and 1.33555. However, if the market faces rejection below the trendline, the stop-loss level would be  1.32021.
by Money_Dictators
1
#Nifty Investors who missed post covid Rally - Time is Now !!!Nifty set for a massive rally as per wave theory. Chartical representation of my morning market view. It formed triple correction pattern, W,XY,Z As index failed to close above 23800 (Wave X) in last rise started from 21964 levels, wave z is last phase of correction. Watchout for trend change on daily charts in coming days which would leqd to a strong counter trend rally equal to the intensity of this fall. 🤞🤞🤞
NSE:NIFTYLong
by chinmaypatnaikk
EUR/NZD Wave Structure Shift: 4th Wave Correction in ProgressThe 3rd wave in EUR/NZD appears to have been completed, and the market seems to be entering the 4th wave. There is a possibility that the 4th wave could take support near the Fibonacci 0.5 level (1.19164). After that, the 5th wave of the impulse phase may move upward. If the market falls below 1.98303, it would confirm the beginning of the 4th wave. In that scenario, the first target could be around 1.95907 .
by Money_Dictators
Godrej Properties is About to Start UptrendElliot Wave analysis of the stock shows following important things: 1. We are currently at the end of Wave 4 (Correction Wave) 2. Wave 2 was sideways and not deep. Thus as per the rule of alternation, the wave 4 was going to be sharp (zigzag) and deep. It has turned out to be so. It retraced as much as 78% of the Fibonacci levels. 3. Wave 4 - ABC had following waves - - A - 3 Waves - B - 3 Waves - C - 5 Waves Thus, the 3-3-5 Waves pattern has been established and verified. What is current situation? Currently, if analysis is correct, it is in the beginning of 5th Wave. It is ahead of Nifty 50 which is yet to start the 5th wave. If it is not in beginning of 5th Wave, it still doesn't have much room anyway left to fall before it begins to reach into 1st Wave territory at 1769 Levels. That is extremely unlikely event. If it happens so, then the wave count will change and entire 1st and 3rd wave will become 1st Wave. This is my understanding. Open for the community views. note: Personal Views only. No buy/sell recommendation.
NSE:GODREJPROPLong
by fvs99
2
XAU/USD: 5th Wave Rally After CorrectionOn the 1-hour timeframe, XAU/USD has formed an Elliott Wave corrective structure. This is an expanded flat correction, typically seen in the 4th wave. The correction seems to have been completed at 3,054, suggesting that the 5th wave may be in progress. For bullish traders, a potential long position can be considered around the 0.236 retracement level as a pullback entry point. The 5th wave has the potential to reach the following upside targets: 3,110, 3,145, 3,165 However, this bullish outlook remains valid only if the low of Wave IV holds. A breakdown below this level would invalidate the bullish scenario.
OANDA:XAUUSD
by Money_Dictators
GBP/USD Technical Outlook: Elliott Wave Mapping the Next MoveThis GBP/USD 4H chart presents an Elliott Wave analysis. Wave (1) and (2): The market had an impulsive bullish movement in Wave 1, followed by a corrective Wave 2. Wave (3): A strong bullish move with momentum. Wave (4): A corrective phase, forming a triangle pattern (a-b-c-d-e), which suggests the market is preparing for another impulsive leg. Entry Confirmation: A breakout above the triangle pattern. First Target: 1.31457 (Fibonacci 0.382) Second Target: 1.32105 (Fibonacci 0.5)
by Money_Dictators
3
Nifty - Awaiting the Fifth Wave for a BreakoutNifty recently hit a low of 21,905 , marking a key reversal point in the trend. A well-defined Head and Shoulders pattern is emerging, with the right shoulder currently forming. The ongoing pullback has retraced to the 38.2% level, but there is potential for it to extend towards the 50% mark at 22,906 . However, the upward move appears to be losing momentum, with buying interest remaining subdued. Based on the chart, the head of the pattern signifies the beginning of a new impulse wave. This appears to be the fourth wave within the larger first wave. Once Nifty completes this corrective phase, the fifth wave is expected to present a trading opportunity. If wave equality holds, Nifty could potentially rise to 24,857 .
NSE:NIFTY
by Money_Dictators
1