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BankNifty-Is this a wedge ? at 47700's (Intermarket Divergence)Disclaimer: This is not financial advice. Consult your financial advisor before making any decisions. Falling Wedge Pattern & Its Impact on Markets A falling wedge is a bullish reversal pattern that signals a potential trend reversal or continuation depending on the context. What is a Falling Wedge? Shape: A downward-sloping, converging price pattern where both highs and lows form lower highs & lower lows. Volume: Declining during the formation, followed by a breakout with increased volume. Breakout Direction: Typically upside. Impact of a Falling Wedge In a downtrend (reversal pattern) → bullish reversal signal - Occurs after a downtrend. - Signals a potential breakout to the upside. - Traders look for price closing above resistance with higher volume. Nifty Holds, BankNifty Slips – Intermarket Divergence in Play Possible Wave 4 and Wave 5 expected to complete in the next few days. Nifty holding its recent low of 21965 while BankNifty makes a new low could be a classic case of intermarket divergence. Will this divergence lead to a reversal or further breakdown? What is Intermarket Divergence? Intermarket divergence occurs when two highly correlated markets or indices (Nifty & BankNifty in current scenario) move in opposite directions, indicating potential market shifts, trend reversals, or underlying weakness/strength. BankNifty on 3rd March 2025 Nifty on 4th March 2025 Snapshot and analysis are original content from WaveTalks, protected under copyright laws. Any unauthorized use, distribution, or copying without written permission is strictly prohibited.. BankNifty is forming a falling wedge near 47700 lows, signaling a potential breakout ahead. Is a sharp reversal on the cards? Stay tuned for the next move. WaveTalks – Market Whispers! Can you hear them? Regards, Abhishek WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
5
EURUSD – The Perfect Catch at 1.02! (Heading Upside in Wave 3?)Patience rewarded! EURUSD dipped right into the 1.02-1.04 box zone as projected in Jan & March 2024, marking the completion of Wave C before delivering a powerful bounce to 1.08883! 📈🔥 How many of you held steady? From 0.95358, we identified a leading diagonal wave, signaling a long-term uptrend. The retracement to 1.02-1.04 (50-61.8%) was all part of the base-building phase, preparing for the next major wave—Wave 3! 🚀 📉 Wave C = Wave A projection hit the zone at 1.03118! 📍 Low: 1.01766 (61.8% retracement nailed!) 📈 Bounce: 1.08883 – The move begins! Now, as the foundation is set, is EURUSD ready for its next wonder wave—Wave 3? Let’s wait and watch the magic unfold! 📊 Check the previous TradingView idea & last tweet for reference!
Long
by WaveTalks
1
ONGC -Wave 5 Bottomed! OMG! - From Oil Rigs to Green Gigs!ONGC is making history, transitioning from oil dominance to renewable energy leadership. On Feb 28, Last ONGC Idea on TradingView I shared my TradingView idea, predicting Wave 5 completion at the bottom and expecting a bounce off the trendline. And here we are on March 6—ONGC surges from 215 lows to 232+ highs as of today’s close with a strong green candle. ONGC’s Big Bet: A ₹9.25B Leap into Green Energy! But that’s not all—ONGC just made a massive fundamental move, acquiring PTC Energy for ₹9.25B ($106M), adding 288 MW of operational wind power across three Indian states. Why This is a Game-Changer ✅ India’s 500 GW non-fossil fuel target by 2030 ✅ ONGC Green targeting 10 GW renewable energy portfolio ✅ Recent $2.3B Ayana Renewable Power acquisition with NTPC Green Technical Perspective – The Power of Wave 5 Is Wave 5 bottom confirmed in some degree of the impulsive move which started falling from 345 highs as discussed and warned earlier in the Bigger Idea Momentum building – are new highs incoming From oil rigs to green gigs, ONGC is shifting gears fast. Is this just the beginning of an explosive rally? Let us decode the waves. Catch me with another exciting idea from WaveTalks, Market Whispers! Can you hear them? Regards, Abhishek WaveTalks
NSE:ONGCLong
by WaveTalks
3
ONGC- Is it ONGC or OUCH!!! (Will You Buy or Sell?) Elliott Wave20th Feb 2025 Last time, ONGC traded at ₹241 on February 20, 2025 , as shown in the snapshot. Today, February 28, 2025, the stock hit a low of ₹223. The big question—Is this a buying opportunity, or is more downside ahead? Let’s break it down: Double Divergence Unfolding - The RSI image on the daily chart (shown above the price chart) indicates a potential reversal. - Price is making lower lows, while RSI is making higher lows— a regular bullish divergence , signaling that the downtrend is losing strength. Waiting for the Final Leg Downside ( Since 20th Feb 2025) - Though the stock has dropped to ₹223 lows as of today ( 28th Feb 2025), we are possibly in the last phase of the correction before a reversal attempt. Trendline Confluence – Price vs. RSI - Price chart: The stock has touched a falling trendline three times (1st, 2nd, and 3rd touch points), which could act as dynamic support. - RSI image: A rising trendline with three touch points suggests regular bullish divergence, strengthening the case for a potential bottom formation. Andrew Cardwell’s RSI Magic - According to Cardwell’s RSI principles, a rising RSI against a falling price often signals an upcoming reversal. Final Thought - If the RSI divergence holds, ONGC might be nearing a trend reversal, making this a potential buying opportunity. - However, a break below ₹223 with increasing momentum could invalidate this setup, opening doors for further downside. Would you buy at these levels, or are you waiting for more confirmation? Have a great weekend Catch me with another exciting idea from WaveTalks- Market Whispers! Can You Hear Them? ONGC - The Big Idea - Did You Check Them? Regards, Abhishek WaveTalks
NSE:ONGC
by WaveTalks
6
BankNifty: Magic of Historical Levels- Can we hold 49183?(Disclaimer: This analysis is for informational purposes only. Consult your financial advisor before making any trading decisions.) As anticipated earlier in the day at 12:03 pm BankNifty faced selling pressure right at the resistance zone of 49,600-49,665, leading to a sharp fall. Sharp Fall After 45 mins of Patience at 12:45 pm Was the sharp fall outcome of any pattern you recognise in ElliottWave - If so what is it? Did you notice it halted in 49600-49665 zones & to be precise it was 49600---Wow!!! Historical levels once again proved their significance, as we initially expected support near 49,350-49,375, but when momentum takes over, markets can surprise. The big question ? Will BankNifty hold at 49,183 & 48,900 (precisely 48,906), or are we set for a deeper plunge? The impulsive Y-Wave began at 47,845 in the WXYXZ proposed correction and if corrections tend to fully retrace, a test of those levels remains a possibility. And what about Nifty? Could we see a slide towards 23,800? 🤔 Only time will tell. Key Takeaways: ✅ Resistance worked like magic at 49,600-49,665. ✅ Support zones were tested but didn’t hold up in the sharp fall. ✅ Will 49,183 & 48,900 act as a base, or do we head lower to 47,845? ✅ Corrections often retrace fully—watch for further price action. Historical levels remain key—markets have their own mind! Catch Me With Another Exciting Episode from WaveTalks- Market Whispers! Can You Hear Them?
NSE:BANKNIFTY
by WaveTalks
5