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Elliotwaveanalysis

Nifty pvt bank bullish candidateNifty pvt bank cmp 17975 Elliot wave study Daily time frame At the moment index is trading at pre covid all time high levels of index,, which are in range of 17950 to 18030. It strong demand zone and is being respected in past history so the index can be considered at support levels . Wave 1 :- wave 1 consist of 3494 points and 41.17% move from the bottom,, this is the first impulse wave of impulse phase. Wave 2 :- Wave 2 have retraced 0.786% of wave 1,as per theory it can retrace from 0.50 to 0.886% of wave 1 wave 3 :- wave 3 consist of 10629 point and 112.% upmove from the bottom of wave 2, it is longest and strongest impulse wave of the whole impulse phase,, point wise comparision of wave 3 with wave 1,, wave 3 have extended 3.14 time of wave 1 which is considered as pie number and is important number in geometry and fibo numbers,, percentage wise wave 3 have extended 2.618 time of wave 1,,as per theory it can extend from 1.618 to 3.618% of wave 1.. so all criteria of wave 3 matches the elliot wave theory. Wave 4 :- Wave 4 have retraced 0.382% of wave 3, as per theory it can retrace from 0.23 to 0.50% of wave 3 pre assumption of wave 5 :- wave 5 is last impulse wave of impulse phase and it can be euphoric in nature,, it should be smaller than wave 3 and can be equivalent to extended compared to wave 1. Now if we consider wave 5 as equivalent of wave 1 in terms of percentage it gives upmove of 6695 points,, which is almost 2 times of wave 1 which can be considered as extended 5 wave of wave 1 in terms of points and equivalent wave 5 to wave 1 in terms of percentage,, now same calculation if compared with wave 3 it is 0.618% of wave 3 in terms of points.. so most criteria matched for this calculation. Index is trading around support zone of previous life time high,, if index manage to reverse from this levels and wave 4 matures,, if wave 5 unfolds from current levels it may lead to levels of 22800-23000,, RSI is around support levels of trend line of symmetrical triangle formation indicate strength around this levels.. Good bullish formation as per elliot wave in this index,,,
NSE:NIFTYPVTBANKLong
by RUDRA007
1
Banknifty Elliott Wave V towards all time high 37708Banknifty Elliott Wave count plotted best to my knowledge. After Wave iv which is complex correction new leading diagonal wave has been seen. New impulse should start taking it towards lifetime high. 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. -------(((((Please LIKE or Comment)))))-------
NSE:BANKNIFTYLong
by Niftydirection
4
Nifty Zig Zag Correction possible X wave towards 15800Nifty formed today falling wedge pattern after few hours opening. This is also called ending diagonal appearing in wave 5 or C wave. Wedge broken channel price was thrown under channel made low 15637. Entire ABC move from 15916 completed near 15637. Wedge had confirmed upside with 15688 breakout point. Today it completed A wave of correction going up to 15710 then B was down to 15665 Currently C wave started expected to go towards 15808 or 0.618 Fibonacci retracement of move 15916-15637. Move above 15770 to 15808 is expected to make price Throw Over channel. 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. -------(((((Please LIKE or Comment)))))-------
NSE:NIFTYLong
by Niftydirection
Tata Motors Gearing Up for Impulse Wave 5 Tata Motors after Mar 2020 low 63 moved up by making wave 1 as leading diagonal Next sub impulse wave (1) and (3) were normal waves without extension. So (5) was explosive up raising 300% or wave (1)+(3) at 357. After 357 high it retraced very small portion 0.232 Fibonacci level or 23% which is common in case of wave extended wave. It appears to be making cup and handle pattern which could reach well towards 0.618 Fibonacci zones. This rise from 280-360 is also observed to be leading diagonal Minimum target of Wave 5 will be 0.618 of wave 1+3 combined which is 460 Long near 325-310 zone, with Stop loss 380, target 1 460, target 2 570 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. -------(((((Please LIKE or Comment)))))-------
NSE:TATAMOTORSLong
by Niftydirection
Nifty zig zag 4th Wave correction on the wayWave C is expected either be a ending diagonal or zig zag going down in the channel as shown. Once this move is done near 15580-50 levels another big move UP will take place. Target 1 level as you can see 0.618 Fibonacci retracement near 15580 or 1.382 fib extension of Wave A. Target 2 level is 1555 is 1.618 Fibonacci extension of Wave A 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. -------(((((Please LIKE or Comment)))))-------
NSE:NIFTYShort
by Niftydirection
2
#banknifty analysis for 31th May'2021 #banknifty analysis for 31th May'2021 Decision Line:- 35,142 Resistance:- 35,524 / 35,960 / 36,326 Support Zone :- 34,751 / 34,410 / 34,142 / 33,850 One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade. E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't. John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient. Regards, SG
NSE:BANKNIFTY
by subhagghosh
18