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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
AARTI DRUGS - Monthly Chart - LongAarti Drugs Ltd (NSE: AARTIDRUGS) has been trading within a well-defined parallel channel on the monthly timeframe since 2009. The stock is currently at the bottom of the channel, having successfully retested the channel support. This retest could signify a potential bounce, presenting a long-term buying opportunity. The RSI is also on an upward trajectory. Sharing this analysis for Long-Term investors. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any investment decisions.
NSE:AARTIDRUGSLong
by gurinder1988
4
Is HDFC Bank aiming to hit 2200+ in the coming months?Reason for going long on HDFC: Ichimoku: HDFC stock has been sideways for years but is slowly turning bullish after hitting strong Ichimoku cloud support at 1350. It is now crossing the Tenkan-sen (TS) and Kijun-sen (KS) on the monthly chart. Fibonacci + Fib Channel: When we draw the Fibonacci channel and Fibonacci extension of swings, it looks like HDFC is set to hit 2200 in the coming months. Buy on Dip: The current market price (CMP) is 1604. Any good dip near 1450-1520 presents a great buying opportunity for the long term. 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:HDFCBANKLong
by WaveMoku
1
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. 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. 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
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
FinniftyPrice is moving in a channel and now it is testing the upper trend line. The price may fall towards lower trend line or it can move up. Buy above 23720 with the stop loss of 23680 for the targets 23760, 23800, 23840 and 23880. Sell below 23620 with the stop loss of 23660 for the targets 23580, 23540, 23500 and 23460. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:FINNIFTY1!
by vanathi
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
Intraday Trade Setup For Nifty 1st JulyTime 7:56 AM 1st July 2024 Reasons for Shorting Nifty today: 1. Wave Analysis - Shorting based on wave counting 2. Ichimoku - Given a sell signal in 15min TF 3. Broke Support Trendlines 4. Risk to Reward in great 5. MACD bearish divergence in 1hr TF Options Selling: ATM CE selling with OTM CE edge is best for this trade. (or future sell with edge) We wait for the entry if it doesn't trigger then we avoid the trade. 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
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
Nifty Weekly Analysis : 10-14 June, 2024Trend: As expected, last week was very eventful with wild volatile moves. Nifty has given a very strong ATH weekly closing near 23300 by forming a hammer candle(hanging man) in weekly time frame. It means that bulls have crushed & empowered bears completely. Next week should be However, the exit polls seemed to be a perfect bull trap and the crash was a bear trap. The inflated VIX also got crashed and now we are almost back to normal markets. Bullish market should continue given there are no global news of war, etc. in next week. Levels:- 1. Above ATH of 23340, we can see continuation of uptrend with 23500, 23830 and 24000 as potential targets for next week. 2. Below 23000, market will turn slightly bearish till 22850. If 22850 is also breached, we can expect further downside of 22500 and then 22250. Verdict: I am expecting gap up opening above 23350 and sideways market throughout the day which will favour option sellers. The channel is broken on upside and hence, probability of downside is quite low. However, markets are supreme and this is my personal opinion. Please trade according to your own analysis. Stocks to watch for next week:- IT sector stocks are looking strong. Sonata software, Birlasoft, HCLtech, Infy have given good breakouts.
NSE:NIFTYLong
by chartistamey
BLS International trading strategy for short term gainIt is a preferred partner for Embassies and Governments across the world, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, e-governance, attestation, biometric, e-visa & retail services. last 3 years net profit : 2022: 114 cr 2023: 220 cr 2024: 352 cr promoters have over 70%. can buy this stock if it can sustain above 360+ range on daily charts. nearest target of this stock could be 400-425.
NSE:BLSLong
by CHART-Charitra
Good buy HindalcoHindalco is fundamentally a very good stock and has given good returns in the past. Currently, it has formed and given a breakout of a symmetric triangle pattern in a weekly timeframe with good volumen and trading in a daily/weekly channel. It has cleared its first resistance which was a zone of 450 and is now ready to travel up to the upper body of the channel. A fresh position can be created at CMP or in the dip in the price zone of 410-430. Keep a strict stop loss of 380. It has the potential to give a return of 20-30% in the coming weeks. Happy trading :)
NSE:HINDALCOLong
by ProPriceActionTrading
India Cements Smashes Resistance, Begins Epic Breakout Rally!Get ready for a wild ride, traders! India Cements Ltd. is taking us on a rollercoaster that would make even the bravest thrill-seeker dizzy. Buckle up and let's dive into the price action analysis of this cement stock that's been anything but solid. I. Current Price Action: Price: ₹233.15 Change: +14.55 (+2.12%) Volume: 18,388M (Higher than the number of potholes on Mumbai roads) II. Key Observations: Resistance Breakthrough: After a prolonged tease, INDIACEM has finally broken through the ₹230.15 resistance level, showcasing more power than a construction site jackhammer. 200-Day Moving Average Crossover: The stock has crossed above the 200-day moving average, a bullish signal that could potentially attract more buyers like bees to honey Consolidation Phase: The stock has been stuck in a range, trading between support and resistance, indecisive as a Bollywood villain's motives. Volume Spike: The volume during the breakout is higher than the number of uncles offering unsolicited advice at a family gathering. This suggests conviction in the move, whether you like it or not. Support Zone: The stock is currently flirting with the ₹204.98 - ₹210.19 support zone. If it holds, this could be a juicy buying opportunity for the daring traders out there. If not, well, you might need a stiff drink to cope. Trading Idea: For the risk-takers, buying the breakout could be a tempting proposition. But remember, chasing a stock after a sharp move is about as safe as trying to outrun a raging bull. Set those stop-losses tighter than your budget after a night of revelry. Potential Targets: 🎯 Short-term: ₹250 (As ambitious as your New Year's resolutions) 🎯 Mid-term: ₹275 (Reaching for the stars, or at least the top shelf of the liquor cabinet) Risks: If this breakout fails to hold, the stock could tumble faster than a poorly constructed building. Keep an eye on the overall market sentiment and be prepared to run for the exit faster than a rat spotting the neighborhood cat. Final Thoughts: India Cements Ltd. has finally broken out of its consolidation range, potentially setting the stage for a new uptrend. Will it continue to build upon its gains, or crumble under the pressure? Only time will tell, but one thing's for sure – this stock is keeping traders on their toes more than a Bollywood dance number. Disclaimer: This analysis is about as reliable as that one friend who always claims to have an "inside scoop." Always do your own research and consult a financial advisor before making investment decisions. Happy trading, and may your profits be as plentiful as the stars in the Mumbai night sky! 🚀💰
NSE:INDIACEMLong
by TRADING-NASA
4
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
NIFTY50 - Weekly Index Analysis - 15th June #indices #nifty50NIFTY50 Analysis Update (1W TF) - 15th June, 2024 - Trading outside the channel as of now - The Resistance & Support Zones are marked out - This should help choosing our Swing Trades as well If you are in FOMO: - Then ensure to choose stocks that are at Weekly support levels only - Do not jump into falling knives which are away from their support levels Note: The charts will be updated as we go along. But please ensure to keep your Risk Management in play constantly for any and all swing trades. * Disclaimer
NSE:NIFTYLong
by TradeRyteStockz
"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