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#Banknifty directions and levels for July 12th.Yesterday, there was significant movement in Banknifty. What about next? As per the pullback, the market may go further up with minor consolidation. GiftNifty also indicates that. If the market opens with a gap-up, we can expect minor rejection around the immediate resistance level. If this happens, it may retrace up to 23 to 38%. After that, if the market finds support at the 38% level, it may continue the rally with minor consolidation. This is our basic structure. In this case, we have to discuss something simple and not too complicated: > 1st one, There is no need to reject around the immediate resistance level. If it happens, we can expect a minor retracement. that menas If the market consolidates or breaks it with a solid candle structure, the rally will likely continue further(around the immediate resistance). > 2nd one, Is there any correction possible? Yes, correction is also possible. If the retracement breaks the 38% Fib level, it may continue to range. > This sentiment is also applicable for an initial market decline. This means that if the gap-up doesn't sustain or if the market declines sharply initially, we can follow the same sentiment.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for July 11th.BankNifty had a solid correction in the previous session with not much of a pullback compared to Nifty. The structure indicates that if the market breaks the previous day low, then the correction will likely continue because the previous day's minor consolidation indicates that. This is our first variation, meaning if the gap-up doesn't sustain or the market takes a decline initially, then we can expect the correction to continue if it breaks the previous day's low. The alternate variation is similar to Nifty: if the gap-up sustains and consolidates around the 23% or 38% fib level or breaks the 23% or 38% fib level with a solid candle, then the rally will likely continue.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for July 11th.Good morning, friends! 🌺🍬 Here are the directions for July 11th: There are no significant changes in the global markets, which are still showing a moderately bullish trend. However, our local market is showing a moderately bearish trend. Today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 40 points (as of 8:00 AM). Nifty and BankNifty structures differ from one another. Let's look at them one by one. Nifty had a huge swing in the previous session. However, the structure is obviously a range market. Today, GiftNifty indicates a slightly positive start. If it rejects around the immediate resistance, then we can expect a correction, meaning the range market will likely continue. For this correction to happen, it should break the 38% fib level in the current swing. If it doesn't break the 38% fib level, it may go a little bit further up. This sentiment also applies to the initial market decline.that means If the gap-up doesn't sustain or the initial market takes a decline, then use the same sentiment. The alternate variation suggests that if the gap-up sustains and consolidates around the 78% fib level or breaks the 78% fib level with a solid candle, then the rally will likely continue.
NSE:NIFTY
by Manickamtraders
8
XAUUSD wave analysisXauusd currently near the resistance of 2365-2370 Two scenario from here : Bullish scenario : XAUUSD after making low of 2286 moving 3-3-3 waves till now (a) wave completed from 2286 to 2368 (moved in 3 zigzag move up) (b) wave completed from 2368 to 2293 (moved in 3 zigzag move down) now (c) wave started from 2293 to till now made high near 2365 ( internal wave a=wave b target done . wave (c) can be 3 zigzag move abc which seems completed or it can be 3-3-5 up move if wave (c) is in 5 wave than upside target is 2393. Bearish scenario: XAUUSD after making low of 2286 than moving 3-3-3-3-3 waves in triangle pattern. of which wave abc completed and wave d can be down in zigzag move for target of 2320-2310 Note : if it is bullish than gold should not go below 2340. for bearish scenario one should wait for sturcture to change from HH-HL TO LH-LL
OANDA:XAUUSD
by MDstockmagic
YESBANK (fibo )YESBANK SL compulsory. This Elliott Wave theory and understand how to effectively trade using this technique. Ralph Elliott discovered a very important pattern in the markets in early 20th century. yes bank move with high volume with breakout still wait for retext . targets and sl asper fibo . for MORE check in my Tv-id " in.tradingview.com " If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
NSE:YESBANKLong
by asAMOLSUTAR
WELPSUN CORP - BULLISH - 3X CANDIDATE - LONG TERMHi Folks, Fundamental Analysis 1. High top line growth - Sales growing at high growth. 2. High capex since 3 years. Operational leverage will play out in coming years. 3. PAT increasing constantly at a very decent growth. 4. PE is still undervalued, rerating will soar price multifold. 5. High free cash flows/ Cashflow from operations at its peek. 6. OPM is stable and increasing constantly. Technical Analysis 1. A very big cup and handle visible, retesting breakout levels. 2. Elliott wave analysis - A fresh new larger impulse is visible. 3. Price shall follow marked channel upwards. 4. Targets are marked on cup and handle breakout. 5. Elliot wave targets are also marked basis on fib projections. Not a trade recommendation. Do your own due diligence.
NSE:WELCORPLong
by KunalSaxena10
Globus Spirits Wave Counting and Next Targets 1700 and 2350!Here is why we are super bullish on Globus Spirits: 1. This stock has corrected deeply from the top (61.8% Fib). 2. Falling wedge pattern (proper buying angle). 3. Hidden bullish divergence. 4. Wave analysis: The stock has completed Waves A and B, and is now ready for Wave C. 5. Ichimoku turning positive. We see great risk-to-reward in this stock. It has the potential to hit our targets and could rally even further. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:GLOBUSSPRLong
by WaveMoku
Bull Run Over? Will Nifty Return to 19K? | Nifty50 Wave AnalysisWave has already shared the Nifty wave counting (2020-24) earlier. Please refer to the following links: Nifty Elliott Wave Analysis 2020-24 With Subordinates Counting Strong Wave 5th is Happening: Nifty Wave Analysis in DTF The big wave 5th of the impulse, which started from the 2020 COVID bottom, has hit 261.8%, and we have to go for a degree correction. Three possibilities: 1. Rally Continues : Wave 5th can go in extension further if Nifty can sustain weekly candles above 24,127. It can hit 26,000, but the possibilities are very low due to many factors like divergences, Ichimoku gaps, Yearly CPR etc. 2. Time-wise Correction: Nifty can stay in a big range (4,000-5,000 points) for one or two years. Who can benefit from this? Option sellers, for sure. 3. Price-wise Correction: Nifty can see a sharp fall to the demand zones we mentioned. Who can benefit from this? Option buyers, directional options and future sellers. Note: Edge is compulsory for any trades to avoid unexpected events since it's going to be a positional trade. Entry Points: Current Market Price is 24,302, and a 1-hour candle close below 24,170 is our short entry. Stop Loss: The safest SL is 24,610, but if this SL is too big for swing/intraday traders, they can keep the stop loss above 24,450. Targets: We have mentioned three demand zones in the chart based on Fibonacci retracement: First Demand Zone: 22,000-22,500 Second Demand Zone: 20,030-20,960 Third Demand Zone: 18,000-18,500
NSE:NIFTYShort
by WaveMoku
2
Where is Nifty 50 Headed Next? Is the journey coming to an end? Date: 3rd July 2024 Nifty Elliot Wave Analysis - Daily Time Frame General Trend: Since March 2023, Nifty 50 has surged in a remarkable uptrend, skyrocketing from around 17,000 to an impressive 24,300—a spectacular leap of 7,300 points. So, has Nifty 50 reached its limit? Is the journey coming to an end? Here is our previous analysis, which we posted on June 18th, and we are still using the same wave count. Ichimoku Cloud: Applying the Ichimoku cloud to the chart, we see that Nifty 50 is trending above the Monthly, Weekly, Daily, and Hourly clouds. This suggests that Nifty 50 still has more ground to cover. No sign of reversal yet in Ichimoku and Price action. Elliott Wave Analysis: Applying Elliott wave analysis to the entire leg of Nifty 50’s journey from March 2023 suggests that we are currently in subwave 3 of Wave 5. The Wave 5th has already completed its minimum target at 127% (23,898) and is now looking to hit 161.8% (24,600). If this is surpassed, we could see 25,000+ which corresponds to the 200% Fibonacci ratio. The Nifty trend will change only if the daily candle closes below 23,898. 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.
NSE:NIFTYLong
by WaveMoku
2
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5. Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3). HDFC Bank & Bank Nifty: HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level. We shared the HDFC Bank analysis a few weeks ago; please check the link below. [ Link to HDFC Bank Analysis ] Buy Entry Points: Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku. Exit Points: We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here and in our Telegram group: t.me Stop Loss: 100-150 points below the wave 4 low point. We will update once we get confirmation. The risk-to-reward ratio will be great because wave 5 is expected to cross 53K. Note: This trade is not active yet. Confirmation is always good for entry and exit. 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.
NSE:BANKNIFTYLong
by WaveMoku
1
Bank Nifty 15 Mins Analysis - We're short again but why? Hello traders, Hope you all captured the down move we shared a couple of days ago. We are short again after a pullback today(please refer our today's post), and we have explained the corrective wave count (WXYXZ) in this chart, so please have a look. The price is rejecting 61.8% of previous swing highs, and we expect it to continue the downtrend tomorrow(could be a good trending day) Expected Targets: 52,032 51,933 51,863 Stop Loss: 52850 (If the stop loss is too big for you, then please set a smaller stop above 52,720 (based on a 15-minute candle close, not a spike). 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.
NSE:BANKNIFTYShort
by WaveMoku
10
Axis Bank Wave Analysis: SIP, Levels, 1800+ in coming years! July 2, 2024: AXIS Bank Market Analysis Current Market Price: 1261.90 General Trend: After the COVID crash of 2020, Axis Bank hit a high of 865 on October 21st , 2021, completing Wave 1 and entered Wave 3 after completion of wave 2 on June 16th 2022. The stock is currently in a bullish mode and it's in extension, having completed subwaves 1 and 2 of Wave 3 and it has broken out of a consolidation zone and is looking to surge ahead with subwave 3 of Wave 3. Ichimoku Cloud: Applying the Ichimoku cloud to the chart shows that prices are trading above the Monthly, Weekly, and Daily clouds. Hence, there is a high possibility of the stock entering Wave 3.3.3 after small dip near 1150-1170 that will be our 3.3.2 subwave. Entry and Exit Points: Long-Term Perspective: The demand zone was a good area to buy the stock; however, we expect a retest of this zone, which can be a good opportunity for those who missed buying Axis Bank earlier. > SIP Mode is best for long term. Expected Target: Once Axis Bank gives a breakout above the recent high, it is expected to hit the first target of Rs. 1529 . The next target could be Rs.1859 and even 2000+ possible in couple of years. These targets are derived based on the application of the Fibonacci extension and channels. 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.
NSE:AXISBANKLong
by WaveMoku
1:5 RR Trade: Sell Nifty below 23877 with SL 24120, Tgt 22670Based on Wave Analysis and the Ichimoku 1-Hour Time Frame, we have a good short opportunity with a very small stop loss. Time: 12:52 PM, June 27th, 2024 Current Market Price: 24,024 Why Short Entry at 23,877? Wave Analysis: Nifty has completed waves 1, 2, 3, 4, and 5. Wave 5 hit 127% today at 23,899 and touched the 24,000 psychological mark. We will have the first sign of confirmation if Nifty drops below 23,898 and sustains this level for 1 hour. It has to go for a correction. We will be wrong if Nifty crosses our stop loss after the entry is triggered. Trendline Breakout: When Nifty breaks 23,877, we will have a trendline breakout, which will be our second confirmation for short positions. Selling call options or selling Nifty futures with a monthly OTM CE hedge is a good option. We will keep updating more in the update section. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTYShort
by WaveMoku
Intraday Trade Setup - Nifty Wave Analysis: Today's ExpiryNifty Analysis (15-Minute TF): June Monthly Expiry - 27-06-2024 Nifty is in the final leg of Wave 5. The third wave of Wave 5 was completed yesterday, and we are likely to see the 4th and 5th waves today. Nifty might take the morning session for Wave 4 and the second half for Wave 5. We have mentioned entry and exit points in the chart; please refer to it. Buy Entry: 23,740-23,770 Average Place: 23,700-23,720 Stop Loss: 23,680 (very small stop loss) Options Strategy: Option Selling: 1. Strangle and straddle will work in the morning session. 2. Go for directional PE selling near our buy zone and sell more lots near the average place with the stop loss mentioned above. Options Buying: We don't recommend option buying. However, if you try option buying, take the next week's expiry near our buy zone and keep a strict stop loss at 23,680. Futures Buying: We can consider buying Nifty July Future with next week PE hedge too. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
NSE:NIFTYLong
by WaveMoku
The Big Correction in Bank Nifty? Short at 52575 with 53100 SLTime: 10:22 AM, 26th June 2024 Bank Nifty Current Market Price: 52,585 Stop Loss 53100 Targets: 47843, 44,897, 44,444 and 40135 We shared our view on Bank Nifty (BN) in yesterday's post. A few people asked us to share the complete wave count in BN in detail with trendlines. Bank Nifty has completed its degree (2020-2024 wave). It has to go down for Degree 2, which can be a time-wise correction or a price-wise correction. There is a high chance of a time-wise correction, which might take a lot of time. Therefore, option selling with an edge is the safest option, or shorting futures with a call option hedge. 1. It has hit the Fibonacci levels we predicted a few days ago at 52,500 and made a high of 52,734. 2. The price has hit trendlines and given a fake breakout of a few previous trendlines. 3. Proper Selling Angle with few breakouts in weekly and monthly time frame. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
NSE:BANKNIFTYShort
by WaveMoku
"Bank Nifty has broken all hurdles. Real breakout or fake?" Bank Nifty Monthly Chart Wave Analysis: June Candle: 2 more days left for the candle to close. Current Market Price: ₹51,575 We drew all possible resistance trendlines and channels, and Bank Nifty has clearly broken out above everything(just 3 days left for June candle to close), with the wave extending. Elliot Wave Analysis : Initially, we counted the October 2021 high as wave 3 in our past charts. However, the current momentum and breakouts suggest it could be wave 1, and we are possibly in wave 3 not wave 5th. REAL Breakout : BN will retrace slightly and then move up again with strong candles in the coming months and it shouldn't enter the big purple color channel and close below 50,100(July Candle closing). Buy on Dip: A good dip near 50,600-800 is a place to go long with a small stop loss below a 49900 day candle close. If entering at the current market price, the SL is the same. Possible Upside Targets : 53,700, 57,000 FAKE Breakout : The July candle will break the purple color fib channel, retest, and come down with huge red candles. The candle shouldn't close above the purple channel again. Sell on Rise: Sell only if the price breaks below the channel, around 49,900. In this case, short with a small SL. Possible Targets : 44,444, 40,000 Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
NSE:BANKNIFTY
by WaveMoku
US SILVER - XAGUSD - LONG TERM IMPULSE - MULTIBAGGER - EWHi Folks, I am tracking silver linked ETF's for long term investment and did a long term and mid term analysis for the same. Analysis is on weekly timeframe, so mind you this will take a lot of time to play out. Also, ill cover a basic know how to interpret wave structure. Following is the inference- Elliott Wave Analysis Larger wave structure will follow 2 characteristics, Impulse (motive) and Corrective (Profit booking/ time correction/ price correction/ low liquidity). Characteristics of anImpulse - 1. It will have cleaner move, with less overlaps. 2. Internally, 5 wave structure can be observed clearly. 3. Major participation of traders/investors with positive sentiments. 4. Positive news augmenting the euphoria in later stages too. Characteristics of Corrective waves - 1. It will have overlaps in structure. In price correction, price can correct significantly, basis on timeframe the % correction will take place. In time correction, behaviour will be sideways and % correction in price will be comparatively less. Time correction will be range bound and will generate lots of accumulation and liquidity in anticipation of breakdown/breakout. 2. Internally, abc wave structure can be seen. 3. Negative news might augment further correction(price/time). XAGUSD - Analysis 1. Larger Red wave is an ongoing impulse on long term basis. We have completed 1 and 2 wherein 2 retraced to approx 61.8% of 1 which signifies healthy price correction. 2. Larger 3 is ongoing, which is strongest of all impulsive waves. 3. Within 3 we 1 and 2 seems to be completed. 1 was having an overlapping impulse known as Leading diagonal which shows very bullish sentiments. 2 wave made shallow price correction as it is more of a time correction. 4. Breakout of falling channel of 2 wave shows start of 3 wave, structure looks more cleaner and it shows more upmove yet to come. 5. All confirmations are basis on channel structure and fib retracements. 6. Targets of smaller 3 and larger 3 are marked on the chart with fib projections. See you there in few years :) Happy Trading! Cheers! Not a trade reco, please do your own due diligence.
FXOPEN:XAGUSDLong
by KunalSaxena10
5
Gold’s Fall Halt at 2305-The Choppy Trap-Bullish Bias Gold’s Fall Take A Halt Close To 2305-The Choppy Trap-A Weekly Bullish Bias Gold Price Tracking US Treasury Bond Yields This week, gold prices have closely tracked the movements in US Treasury bond yields. The previous decline in gold prices has paused in 2285-2305 support zone amid a modest weakness in US Treasury bond yields. 18th June 2024 - Running upside for 2358 Target Equity Markets and Indian Elections Global equity markets have extended their rally, gaining momentum particularly from the results of the Indian general election. The election unfolded in favor of the existing government NDA, leading to Prime Minister Narendra Modi securing a third term as declared a clear winner in the General election 2024 which went for more than a month. This political stability has propelled the Indian market index, Nifty, which saw a significant rise from the lows of 21,281 on June 4, 2024, closing the session at 23,562 on June 18, 2024 but saw a knee jerk reaction as it failed to surpass its 400 seat remark made by the existing party fellows. Going forward, A pause and potential correction below the 23,350-23,400 range for Nifty could support a short-term rally in gold prices. Technical Analysis of Gold Yellow Metal has been doing sideways since its all time of 2453.7 USD as of 20th May 2024. Support Zones Technically, gold has a strong support zone between 2,285 and 2,300, which has been acting as a bounce pad for the yellow metal. Harmonic Bullish Pattern An unfolding harmonic bullish Gartley pattern, has been observed close from the support zone of 2285-2305 zone. Gold prices have reached a few upside targets for the harmonic pattern, encountering resistance at the 200 EMA (Exponential Moving Average) based on a 2-hour calculation at 2,345. This level is crucial for further movements. Wave Analysis Yellow metal could be doing a choppy sideways correction & could unfold as a triangular correction yet to be confirmed & needs further price inputs. since its sideways move from 2448.8 as of 12th April 2024. Trading Strategies Plan A Trigger: Faces resistance in the 2,395-2,405 USD zone Target: Potential drop to the 2,345-2,355 USD zone for a short-term correction Getting resistance in 2395-2405 - Harmonic Bat Pattern will become active for targets suggested in Plan A Plan B Long-Term View: Trigger: Crosses above 2,405 USD, a critical level Target: Push towards the all-time high (ATH) of 2,450 USD Conclusion Gold's price movements are intricately linked with US Treasury bond yields and global market dynamics, including political developments. Investors should watch the key technical levels for India Nifty, getting a pause for equity indices could boost the upside potential of yellow metal in next few sessions and should employ appropriate trading strategies as discussed to capitalize on potential market movements. The trading strategies suggested above offer a structured approach to navigating gold's price action in the current market environment.
COMEX:GC1!Long
by WaveTalks
3