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NIFTY: Price Action Perspective And EWTDaily Chart: Elliott Wave Perspective: Nifty has completed the corrective wave A of triple zigzag (Z) If the price gives a consecutive close above (X), it suggests that corrective structure has occurred and an impulsive wave started. However, the price has given three moves after wave A. Sub-wave a traveled 100% of wave B. The price is weak below 17639 and strong above 17650. In my previous idea, I have mentioned the price can be out of the channel. Sellers can enter after a rejection of the candle on a higher timeframe. Safe traders can enter when the price enters into the downtrend channel. Today's close will initiate positional views. Price Action perspective: After the accomplishment of the lower-low, nifty surged and reached near the previous lower-high point at 17639 . As mentioned in down theory, An upward trend is a series of successively higher highs and higher lows. Price is weak below 17639 , which is a previous lower high. If nifty creates a swing failure, supply will exceed the demand.
NSE:NIFTY
by forextidings
3
Alembic Pharmaceuticals is preparing for Rs. 140+Alembic is having a double zigzag( W-X-Y) correction of wave ((4)). Price is stuck on the ending diagonal of wave Y. According to the Elliott wave principle, if the price breaks up the ending diagonal, the price is supposed to reach the targets of 114-123-139 and more . However, the price must confirm the trend by breaking the wave (X). In case if price breaks the low of wave Y, it can fall up to 79 . At this level, wave W has traveled 100% of wave Y. After that, it will initiate an uptrend for the above targets.
NSE:ALEMBICLTDLong
by forextidings
4
Elliott Wave says NIFTY Going for 16369 Nifty is constructing triple three (x,y,z) right now. Price is about to accomplish sub-wave B of triple three. Buyers should be ready to exit from their position before the price reaches the nearest lower high at 17639 , which is wave (X) of the correction. According to wave principle, if the price couldn't sustain above wave X, then the current trend is about to resume. Currently, nifty's trend is bearish and, wave C can give a downward motion with the following targets: TP 1: 16909 TP 2: 16690 TP 3: 16449 TP 4: 16369 Note that price can make an excess at the upper band of the channel. Trade Setups (only for the safe traders): Traders can enter when the price rejects the wave (X). If the price breaks the (X) at 17639, it may be a fake-out. Traders can wait for the price to enter into the parallel channel. Stop-loss can be the nearest high of the excess which will be out of the channel. T rade Setups (only for the Lion heart traders): Lion heart traders can enter in sell position when the price makes rejection of wave (X). After the price rejection, they can initiate a short position below 17600. Stop-loss can be high of the new lower high. Stay in touch for the next update of this setup.
NSE:NIFTYShort
by forextidings
14
NSE IDFCFirstBank Bullish Cycle Started Preface: IDFC First bank is ready to march upward. After making the high of 69.30, the Price has started the corrective wave four and took 179 days to complete. The ending point of wave 4 is the starting point of impulsive wave 5. Wave Formations And Fibonacci Relationships: Wave 1 is a Leading diagonal which has a 3-3-3-3-3 sub-wave structure. Wave 2 is a combination where wave 'W' is a zigzag & wave 'Y' is a triangle. Fibonacci retracement of wave 2 is 38.2% of wave 1. Wave 2 is not exceeding the starting point of wave 1. Wave 3 is an extensive impulse. 3rd wave has 261.8% retracement of wave 1. Wave 4 is a zigzag correction with a 5-3-5 wave structure. Sub-wave of wave 4 fulfilled the rule of equality (wave A= wave C). Wave 4 retraced 78.6% of wave 3. What will happen next? Completion of sub-wave C indicates that the corrective wave has ended. Price has started forming sub-waves of wave 5. Wave (ii) retraced 78.6% of wave (i). If the IDFC First Bank breaks the high of wave 1, it will confirm the impulsive behavior of wave (iii). (Note that the ending point of the corrective wave is the starting point of an impulsive wave.) A trader can expect the following targets: 64-74.64- 86.2+ Target 1: 64 {Clusters: high of wave B,161.8% of wave (iii), 78.6% of reverse Fibonacci retracement of wave 4} Target 2: 74.64 {Clusters: 2.618% of wave (i) through (iii), 161.8% of wave 1 through 3} Target 3: 86.23 {Clusters:78.6% reverse Fibonacci retracement of wave 4, dynamic resistance}
NSE:IDFCFIRSTBLong
by forextidings
16
Unlocking The Next Targets of MCX Gold, Crude oil, & AluminiumGold Price Slowly Going Upside Key levels: 48113 - 47616 MCX gold has been moving under the range of 48113 - 47616. It's a very crucial point. We may see a continued uptrend ahead if it breaks and close above 0.382 retracement level. That can be up to 48260 - 48490 - 48600 - 48700. And if it breakdown the 0.5 retracement level, then we may see 47496 - 47300 - 47160. Kindly note, 47616 is strong support. ***Beware, Crude Oil Bulls - That’s the Beginning of the End*** Barrier: 6290 level Crude oil may keep running upward for the levels of 62360 - 6500+. To maintain an uptrend, it has to crossover the hurdle level of 6290 by closing above. And if it breaks the level of 6060, then wait for my update. ***Aluminium Is Going To Test Critical Technical Support Levels*** MCX Aluminium is coming back to the strong support of 226.6. Be ready to jump on it.
MCX:GOLD1!
by forextidings
Nifty technically short-term bullish, but…Nifty hasn't given a continuous breakout of the lower high. If nifty couldn't give consecutive closes above lower high, there can be a failed swing low and signals resumption of the trend. In 30 minute timeframe, the price has made a value area box where supply equals demand. If nifty gives a continuous break to the upper band of the value area, traders can initiate a buy position for the target of 17554-17586-17618. Strong closes above 17621 indicate a good time for bull traders. Swing failure may drive the price lower. Bear traders can look for 17465-17408-17312.
NSE:NIFTY
by forextidings
6
Will BANK NIFTY Hit 37800 Today?Bank Nifty had stuck into the descending channel (DC) from 25 Oct to 07 Dec. The upper trendline of DC has broken and started moving forward. It has filled the 25 Nov gap yesterday and marching towards the supply zone. We have chances to see 37600 – 37800+ levels today. Intraday traders can take benefit of it. But you must note the second resistance of 36871 . It’s a barrier for buyers. If Bank Nifty remains under of it, then we may see an excess of this channel. And that will collapse the Bank Nifty prices from 36800 to 36300 – 35696 below. That’s why I have highlighted the supply zone in the above chart with a strict warning. I have used RSI and Stoch RSI together. The Stoch RSI is indicating a downtrend ahead. But, others (MA, DMI, & RSI) are throwing positive signs. Hence, you have to focus on the second resistance line only. Further any changes/details I will update during the market hours.
NSE:BANKNIFTY
by forextidings
3
Kotak Bank Has An Explosive Rally AheadNSE Kotak Mahindra Bank has started marching upside because it has completed wave ((4)). Its fifth wave will end nearby the retracement of wave ((4)) of 161.8% and sub-wave of (4) of 161.8%. So, long-term investors may hold for the targets of 2345 - 2446 - 2536 . At present, intraday & short-term investors can also jump on this stock. Kotak bank prices may move forward up to 1900 - 1960 - 2056 levels to hit the halfway of wave 5th. Consecutive closing above the level of 1832 is a direct buy signal. A short reversal is expected at the last target of 2056 . Further information I will update you soon. Stay connected!
NSE:KOTAKBANKLong
by forextidings
11
Nifty Outlook: The Case Of Initiative And Response Between Bulls Nifty has continued forming the descending channel. Price has made three excess areas on the lower band. It means that bear traders are continuously trying to break down the descending channel. Price is following the control line with nine spot confirmation. The trend will change after a breakout of the upper band, and it will drag the nifty price at my pivot point. And that pivot point will act as a hurdle. Hence, it has to climb up to that. And if that happens, then it will keep moving forward non-stop. Otherwise, there is a high chance that the price will create an excess. This pivot has provided three successful reversals on the upper band. Bearishness may drive nifty for one more leg down.
NSE:NIFTY
by forextidings
6
Part 2: Is zeel preparing for a bull run? Zeel Is Sitting On The Ticking Bomb! Did you read the previous report of MCX Gold? If not, click the below link to read it. - Is zeel preparing for a bull run? Zeel has concluded a corrective structure and started an impulsive wave. The price is about to cross the recent high of 362 , but there is resistance. Breakout traders can enter after breaking the high of 362 , and reversal traders can wait for a pullback, and they can enjoy the big move. Invalidation: please note that pullback can't be lower than wave C . Further, I will upload intraday (15 min and 1-hour chart) to make a setup on zeel.
NSE:ZEELLong
by forextidings
1
BANKNIFTY trend forecasting using Elliott Wave Principle Price has made extreme high, and impulse moves have started a correction. According to Elliott wave price confirmation, Safe traders can enter when the price breaks wave B at 40160 . Sub-wave C of wave 4 is about to complete. If price breaks wave B, It has the potential to make a new high. At present, the price has neither made higher-lows nor sub-waves of wave 5. If the trader wants an early entry with a small stop-loss, traders must wait for wave ((2)) sub-wave of wave 5. The common retracement of wave '2' is 61.8 %, and wave '2' never overlaps the starting point of wave ((1)). If the bank nifty starts to move downward, it will make a new leg then start marching upward. Stay in touch for regular updates. Show your support with likes and comments. Thank you. Quote of the day "If you can learn to create a state of mind that is not affected by the market's behavior, the struggle will cease to exist."- Mark Douglas
NSE:BANKNIFTY
by forextidings
7
Part IV: Nifty outlook: A steep recovery or a slow correction? Nifty has continued growing in the corrective channels. It has filled two gaps and is currently on the third gap level. The third gap is providing support. Nifty has made a double bottom pattern on the gap level. And according to the gap theory, price gaps cause reversal. But if selling pressure exceeds buying pressure during the gap area, Trader can expect another leg down. targets for buyers 18220-18334-18454-18500+ Don't take a trade without any confirmation. The market can go downward. A trader can wait for confirmations, like candlestick pattern, volume breakout, trendline breakout, and channel breakout. More clusters are there, more controlled your psychology will be.
NSE:NIFTY
by forextidings
1
Last Warning to NIFTY SellersNifty is forming corrective wave 4 of wave ((5)) Nifty has made a high at 18604 and started falling due to conclude of wave 3. It has broken the base channel due to high selling pressure on Nifty. The following terms confirm the nifty pullback. A. The common Fibonacci retracement of wave 4 is 38.2%. Nifty has entered the 38.2% retracement level. It seems like the reversal is ahead. B. Wave equality (A = C) Wave C is 100% of wave A and vice-versa. If nifty breaks the previous low, then it can reverse between 100% to 161.8% range. The corrective wave can complete if it sustains in the channel trendline. I will upload Intraday charts to take trading decisions.
NSE:NIFTY
by forextidings
5
Nifty Outlook: A fight Between Bulls and Bears Nifty was heaving correction in previous weeks. Now, It looks like it has completed corrective structure and marching upward. If you are following my daily outlooks, you can understand these charts easily. If the price is about to change the direction, It will make an initiative then confirm it. Nifty will confirm its bull trend by breaking wave B at 18350. In case, If you have missed my previous idea: Show your love by likes and comments. & Do follow for more Ideas.
NSE:NIFTY
by forextidings
3
Nifty can take two steps back before skyrocketing. This week nifty may break 18350, and this level will increase high buying pressure. The above chart shows that nifty seems price is forming a leading diagonal. Moreover, wave 5 is the ending point of the leading diagonal. And completion of wave 'i' the wave 'ii' will take place. The wave 'ii' is corrective. So the day traders can initiate buy position there. It's a golden opportunity because of moderated risk here. Safe intraday traders can enter at the breakout of wave i. This point is also initiating an opportunity. If the acceleration phase is sturdy, then It can hit 19200. Please note that wave '2' can never overlap the starting point of wave '1'.
NSE:NIFTY
by forextidings
3