Get started

Expandedendingdiagonal

U(R) Truce on the Way – Nifty: Nervous to Nirvana! ElliottWave Life and markets share a common truth: Decisions made at crossroads define the journey ahead. Whether it's turning left or right at an intersection or navigating the ever-changing waves of financial markets, one thing remains constant—preparation is key. In trading, emotions often cloud judgment. The impulsive, last-minute decisions taken without a backup plan lead to uncertainty, just as a driver who hesitates at a crucial turn may end up lost. If you don’t prepare in advance, you will always be at the mercy of emotions rather than logic. I’ve always warned about hidden market paths, sharing insights through stocks like BHEL, ONGC, and others that signaled Nifty’s nervousness well before it unfolded. If you ignored the signs or failed to rethink, then neither I nor anyone else can help—because wisdom lies in learning before mistakes become losses. As someone once said: 👉 If you learn from your own mistakes, you’re intelligent. 👉 If you learn from others’ mistakes, you’re a genius! Now, coming back to our topic: The Ukraine-Russia Truce & Nifty’s Grand U-Turn? The war between U (Ukraine) & R (Russia) seems to be moving towards a truce, but only time will confirm its reality. However, technically, Nifty has been unfolding a wedge pattern since December 2024—a structure known for its time-consuming, overlapping movements across multiple wave degrees. On January 29, 2025, I proposed a falling wedge scenario with a key requirement: Nifty must overlap 22,537 to confirm the pattern Copyright of WaveTalks By Budget Day (February 1, 2025) Not only did Nifty hit this level, but it surged to 23,807 on February 5, adjusting the structure to an expanding wedge — a rare phenomenon . 6th Feb 2025 - Expanded Ending Diagonal Last Wave Pending Downside (One Day Before RBI Policy on 7th Feb 2025) Copyright of WaveTalks 11th Feb 2024 - What a fall in Expanded Ending Diagonal Copyright of WaveTalks What’s Next? The Big U-Turn? If this pattern completes in the current zone and starts bouncing upwards, we might witness Nifty’s journey from Nervous to Nirvana—a potential upside move towards 25,000, possibly even 26,277 for a new high! Are We Ready for the Grand Turn? Just like life, trading is about preparation. Those who anticipate the next wave will ride it effortlessly; those who hesitate will be left watching. Stay tuned as this unfolds—Catch me with another exciting idea from WaveTalks… Market Whispers! Can You Hear Them? Regards, Abhishek
NSE:NIFTY
by WaveTalks
20
BankNifty:Tale of Triumph and Trials,Bulls or Bears-Which Side?Netflix - Scoop The riveting Netflix web series "Scoop" brought to life a powerful saying from the book **"Behind Bars in Byculla: My Days in Prison" by Jigna Vora**. The line, **"If someone says it’s raining, and another person says it’s dry, it’s not your job to quote them both. Your job is to look out of the window and find out which is true" is a fitting metaphor for our exploration of the BankNifty index.** Here, we don't just parrot what others say, we strive to unravel the truth behind the numbers and the patterns. **The story began at WaveTalks**. On the 25th of July, 2023 we published an enticing TradingView idea focusing on the BankNifty Index and outlined an **Expanded Ending Diagonal** . For the adventurous risk takers, we pointed towards potential targets: - First stop at 46155 - A second milestone at 46263 - The final leap to 46369 The narrative took a thrilling twist on the 27th of July, 2023 . The Index raced towards our 3rd target, pausing just short at 46310. Then, it took a breathtaking nosedive, shocking the bulls with a Niagara-like fall from the highs of **46310 to the lows of 45238**. **Now, traders are left wondering, "What's next?" The markets never sleep, so our story continues...** **On the larger timeframe-4 Hour Chart** We're seeing the formation of a tantalizing pattern - a potential rising wedge once again. **But here's the caveat**: **the Index needs to hold its footing at the crucial psychological level of 45525 to bounce back upwards.** **If we stand firm above 45525**, we're looking at an exciting upward trajectory: - First target at 45790 - Second target at 46300 - Third target at 46500 - **And if we cross beyond 46500**, we're aiming for a final target between **46900-47000+**, coinciding with the completion of the wedge pattern. **Here comes the thrilling climax**. **What happens after reaching a new all-time high?** Brace yourselves as we could see a rerun of the Niagara plunge from the 27th of July, 2023. From the new all-time highs of around 47000, the Index could potentially tumble to 43345, as marked by the menacing black arrow downside. **WaveTalks** wishes everyone a joyful weekend! As we delve into the narrative of BankNifty, we ask you - are you siding with the bulls or the bears? Stay tuned for more, and remember, it's not about echoing what others say, it's about understanding what's unfolding in the market.
NSE:BANKNIFTY
by WaveTalks
18