Elliotwaveanalysis
Nifty ready to rise or fall...Nifty is currently taking support at the neutral zone and it will continue to flag bullish signals if it does not breach the low of 16822.
Till then neutral zone will act as support zone and will keep holding nifty.
Once breached the Nifty will enter the bearish territory and the neutral zone will convert into resistance zone and sell on rise will start coming into picture.
Keep it simple and just follow the chart.
Stay safe and trade safe.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
SILVERSilver is still in triangular correction on weekly time frame and now it has weekly closed below RK's stop loss line which is a sign for weak sentiments again also weekly macd is about to turn bearish again so we can assume that after completing wave a-b-c-d- now we are unfolding wave e in triangle pattern, which can be last decline before breakout towards north move ahead, so if our assumptions are going to be true then silver can fall towards price of $ 21.40, before it turns bullish for a long term rally to start, On up side we can assume $ 30.72 as 0.618% of wave 3 as a target of wave 5 of bigger degree.
Overall wave structure and chart pattern
Price closed below weekly RK"s stop loss line
weekly macd down tick
Daily macd turned negative again
Daily rsi down tick and closed below 40 range
DMI _ ADX turned negative
TLBD along with near Lbb to challenge
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However, If you treat trading like a business, it will pay you like a business.
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Disclaimer.
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.
nifty sharp fall in sharp downward channel done 50% fibnifty moving down in sharp downward channel..
today done 50% fib near 16900
next fib 61.8% comes near 16600
Till its in falling channel.. bears power will continue...
sell on rise till its below 17190...
FII is selling heavily.. and till they turn into buyers... no hopes for sustained upmove
last rise of 18115 also came as FII did turn into buy just 2-3 days before the hdfc twins merger
event over and they started dumping again..
views are educational..
CRUDE OILCRUDE OIL Looking good to go long at current levels or in dips ( if any ), there is a good and clear assumptions of wave structure along with trendline breakout on daily time frame.
Price again closed above mass psycology cloud, and also above RK's stop line and also price has given close above 20DMA, also trend indicator macd is showing same bias to go long.
On the way up side it can show 8883, and 9978 levels and more, on the way down RK's stop line which is pegged at 7687 would be a major support to watch out for upcoming days.
Overall wave structure of U S OIL - CRUDE OIL international Daily Chart
Overall wave structure of CRUDE OIL MCX Daily Chart
macd on weekly positive
MACD in mcx crude daily chart
Price again closed above mass psycology cloud, and also above RK's stop line
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...!
Disclaimer.
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.
L&T heading towards a fall?In terms of Elliott waves, LT has completed its already completed five-wave rally and the stock is going through ABC correction. Head and shoulders pattern could also be seen indicating possible correction. The 4th wave low which is considered as the end of ABC correction and the head and shoulder breakout is pointing towards 1350 level in short to mid term.
PS: This is not an investment or trading advice.
SILVER MCXSILVER MCX in the near term 70500 - 70600 are the resistance zone for silver mcx, it has possibly completed wave ii in three wave decline, and now possibly wave iii is unfolding. If our wave counts are going correct then above resistance zone silver can show 79000 plus, where wave iii would be equal to wave i.
Currently price is sustaining above RK's stop line and also above RK's cloud along with buy signal in RK's Magic on daily chart, which is a good positive sign itself, if we see price is also above 20DMA and 20WMA, macd is also positive in both daily and weekly time frames, RSI on weekly is uptick, stochastic on daily is supporting same bias.
On the way down immediate supports are pegged at 67050 as a RK's stop line, and major support at 65298 to watch out for upcoming sessions.
Overall wave structure on weekly chart
macd positive in weekly and also above zero line
macd positive crossed in daily chart
RK's indicator also suggesting to go long
Price above 20WMA above mid bollinger in Weekly chart
Price above 20DMA above mid bollinger in daily chart
rsi in weekly uptick
stochastic in daily going positively uptick
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...!
Disclaimer.
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.
CNXMETAL - NIFTY METAL INDEXNifty Metal Index is possibly completed as a leading Diagonal wave 1 of wave 5 circle, where wave 5 is shorter than 3, and wave 3 is shorter than 1 ( Leading Diagonal )
If its right than possibly wave 2 of wave 5 is now Due or ready to unfold, in macd and RSI we are witnessing negative divergences, along with Negative crossover in Stochastic and MACD, also RSI is Down tick, Lets see what happens next.
Overall wave structure could be like this
macd also turned negative cross along with Negative Divergence
macd negative crossover in hourly
RSI negative Divergence
RSI Down Tick
stochastic in daily time frame negative crossover
stochastic in hourly time frame negative crossover
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...!
Disclaimer.
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.
Nifty z of Z wave starting. Details as per added on chart waiting for day high 17724 to be taken out.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
BANKNIFTY-2 POSSIBILITYBanknifty has 2 possibility as mentioned in the chart.
We are in an impulsive down move A where the stop would be at 37185 and will move for B that is shown clearly.
In Other possibility we are in corrective ABC where a and b has been done and we are doing c wave.
Please trade as per your analysis.
Regards
IDBI Bank Leading Diagonal Wave 5 Going for 70IDBI making leading diagonal pattern after recovery from 40 odd lows.
Expecting it to move towards 70 in wave V of leading diagonal.
Stop loss as mentioned on the chart.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
Disclosures: I am holding this share currently.
VOLTASVoltas, this stock has been consolidated in a parallel channel since October 2021, and now very first time it has closed just out of that same channel's top on daily time frame,
Also it has been closed above 20DMA from last 15 days and sustaining on same.
As per elliot wave structure we can assume that from the low of 8th March fresh impulse wave 1 started and on the 17th March wave 2 was started and completed on 28th March, So now possibly wave 3 is in unfolding phase.
RK's Magic indicator is also showing cloud impulse buy on daily chart, along with macd turned positive crossover on weekly chart.
Overall it looks good candidate to go long, at current levels or in dips ( if any ).
on the way up side 1457 is the level where wave 1 and wave 3 would be equal, and on the way down RK's stoploss line which is pegged at 1244, can be a good support level to watch out for in forth coming days.
Wave structure on daily also all key levels are mentioned on chart
macd positive crossover on weekly
macd positive on daily
rsi breakout and uptick on daily
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...!
Disclaimer.
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.
NIFTY 50 TECHNICAL ANALYSIS ( ELLIOT WAVE )Nifty has finished the 5 wave motive structure
now it's time for corrective wave
corrective wave has started
hence expecting a bearing movement tomorrow
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