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Nifty is having strong support at 13 EMANifty' is having strong support near 10600 area. Also expect the RSI to support near 50 level. Wave structure is is bit confusing but still hopes that we are in wave 3, and the IV of 3 is show as an expanding flat here. if true we will see the 1.618% retracement show here11924 approx: And if wave 3 is completed at 11171, then we are in an a b c correction starting from 11171. A is completed at 9952 ( I was expecting 9920) & we are in wave b of wave 4, could be formed as a flat, since wave 4 rarely form zigzag. Means this b also will be equivalent or above 11171, depending on waht pattern it form.
NSE:NIFTYLong
by padiyara
5
Sun Pharma Neo WaveComplex Correction Taking Place . First Zigzag. Next X Wave. Then Diametric....(Looks Like it finished at g's Low) Low of e might provide some resistance.... A bounce happened from Last weeks low,so, it might be impulse or just can turn out into symmetrical pattern connecting h & i to ongoing diametric correction....... Be careful with shorts....( as i feel in worst case it might make one more low if its symmetrical) Apply buy in Dips Strategy... Cmp 480
NSE:SUNPHARMALong
by iilluussiioonniisstt
Infosys: Q4 EarningsDear Fellow Readers, The management of Infosys Ltd (INFY) is about to declare its Q4 earnings on 13th April, 2017. The stock has been under bearish mode since June 2016 after hitting its all time high price of 1279.30 per share. The movement in the stock of Infosys Ltd from the low of 66.10 made in September, 2001 to its all time high of 1279.30 was an impulsive run and the stock may witness correction in simple zigzag (A-B-C) pattern upto the level of 816.00, being the 38.20% retracement level of the total rise from 66.10 to 1279.30 level. The fall from its all time high price of 1279.30 to its low price of 901 per share, looks to be an impulsive run, whereby the stock has completed its first leg, i.e., 'A', of its simple zigzag corrective pattern. Besides, its seems that the stock of Infosys Ltd has completed its second leg, i.e., 'B', in a-b-c (901-1022, a -901.15, b - 1044, c) pattern, and looks to have started its last leg 'C' which might another impulsive run. The stock has witnessed decline of 93.90 points from its recent top of 1044 to 950.10. Within this fall the stock looks to have completed three waves and under the process of completing its fourth waves, I suppose. The corrective pattern that stock may witness can be an extended flat or complex, whereby the first leg of this probable correction seems to have completed at 976.90 in three wave structure and the second leg may get completed around 939.85, being a 138.20% retracement level of first leg. If the stock takes support at or around 939.85, breaching its previous low of 950.10, and then it may see a temporary short term up move to the level of 1021.10, being 165.00% extension level of first leg and also being 78.60% retracement level of total fall of 91.40 from 1041.50 to 950.10. One should note that if the stock takes support at above expected level, there may appear a bullish/positive divergence on the stock, which may give a boost to temporary up move in the stock.
NSE:INFY
by sgor1980
Pivot Point & Trendline Nifty Facing Resistance Near Upper Falling Channel Line .....It Can Either Retrace Lower trendline & Move Above 8600 Or Can bounce from fib retracement levels. Rally From 8600 is not an completed impulse as of now,But it can either move up as Impulse of zigzag family pattern,If Zigzag then it may retrace till 8950 Or If impulse then can go well above 9000 ,You can get a clue from Bank Nifty as it is quite strong. Pivot is 8680 End of Running triangle (Top of Wave e) and immediate resistance at 8600. But FII participation is low as of now to consider this as impulse......Lets See.
NSE:NIFTY
by Speed0
TrendLines & PivotRally From 8000 Till 8600 Can be Form Of Impulse (Pending) Or ABC Zigzag ,If we take out 8600 ,Now It Can Bounce back from any of fib retracement levels (of 8000 to 8600) to take out 8600 Or Can Even touch falling lower trendline & bounce back.Then Probably Next Could be Till 8900 Again As Zigzag Family Pattern Or May We il move Above All Time Highs As Impulse ......If Bank Nifty Takes Out All Time Highs ,Then Slowly We May Follow It too. Currently its facing resistance at upper falling trendline ,Above 8600 Next Rally till 8680 which i consider a pivot. The end of Wave e of running triangle (If My identification is right).
NSE:NIFTY
by Speed0
JSW STEELWell, according to my probable Elliott wave count and opinion it seems like some more up trend in JSW STEEL. We have finished micro wave 3 and 4 (wave 4 is 23.6 of wave 3). Now we are currently moving towards the final micro wave 5. But one need to be careful as we might not have finished wave 4 correction. Further wave 1 was a flat correction so with alteration wave 4 was a zigzag. Now the internal wave counts are also done just zoom it to see. So one could buy this stock after a retracement of the current wave or at the breakout. But still one be careful before trading as your capital will at risk. Any suggestion will be welcome.
NSE:JSWSTEELLong
by vinodsinghfcca
BTC ew updateBTC USD completed THE WXY PATTERN, and now forming a pattern with 5 wave upside on first leg, which opens up more than one opportunity, like ABC- zigzag, LD first wave 1-3 have formed under this, it can be LD as well, it can 1-1-1 ew combination as well, it will interesting to see what folds out. Now the sturcture based on counts looks like DIANGONAL 1- LD- first wave complete,third is also complete, 1st wave is long, 3rd wave is less than 161, 4th is done and 5th is going, Structurewise it fits in LD, it has not broken any trendlines. Fib wise it also fits in this criteria and 5th wave is also reached 61.8 which complete another criteria. 3- 1-2,1-2,1-2 sequence of bullish pattern can also be possible, first sequence is done, 2nd is also done, 3rd impulse in underway. structure looks ok lines looks ok fibs looks ok. Lets see how it turnsout.
CRYPTO:BTCUSDLong
by sanjayplayer1
1
BTC EW updateBTC USD COMPLETED THE WXY PATTERN, and now forming a pattern with 5 wave upside on first leg, which opens up more than one opportunity, like ABC- zigzag, LD first wave 1-3 have formed under this, it can be LD as well, it can 1-1-1 ew combination as well, it will interesting to see what folds out. Options are 1- Abc pattern SZZ-- structure wise ok, fib ext. Was ok. 2- LD- first wave complete,third in under going, 1st wave is long, 3rd wave is less than 161, 3- 1-2,1-2,1-2 sequence of bullish pattern can also be possible, 1-2,1-2,1-2 is also possible, first sequence is done, 2nd is underway. Price did complete 3rd wave with 100% and retraced forming another, WXY pattern. Now probability of SZZ is complete but no big fall hints that is could be other two patterns, so long the position .
CRYPTO:BTCUSDLong
by sanjayplayer1
Reliance Industries fall is not overIf you refer the chart of Reliance Industries, its in impluse move which is Just wave 1 of the Zig-zag and we are about to complete wave 5 after this expect A-B-C move which we can use to our advantage and make some profit. Post that one more correction to complete the 5-3-5 Zigzag and then we can see a long trend. Disclaimer: I am not SEBI registered member, these ideas are for strictly educational purpose only, please do your own analysis and take a call.
NSE:RELIANCE
by swapsachin
2
Nifty Intraday Support & Resistance Levels for 22.01.2025Tuesday's session was marked by high volatility, with Nifty opening positive and made high of 23,426.30, entering the 30m Supply Zone. However, intense selling pressure pushed it down to 23,127.70, followed by another bounce to 23,421.25, before dropping to a day low of 22,976.85. It closed at 23,024.65, losing 320 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Demand/Support Zones Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (30m): 23,396.85 - 23,454.65 (tested) Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Outlook Tuesday's zigzag movement of over 1,700+ points underscores the volatility in the market. Nifty is facing strong resistance near 23,400, and above that lies a Daily Supply Zone extending up to 23,800. If selling pressure persists, watch for support at the Daily Demand Zone (21,791.95 - 22,910.15).
NSE:NIFTY
by PriteshPalan
Nifty correction levels before next move Statement - As speculated in my last idea , Nifty started correcting from 26000 - 26300 area . The rally started from Mar 2020 and extended 100% till above mentioned area and started correcting ( only price action , reasons can be anything ...high valuations, state elections exit polls, new China recovery story, geo political tensions , Israel warning that it will hit oil refineries etc etc....which we don't need because it's markets duty to factor it in, we only follow and speculate where market might go) Arguments -1) It might be looking very tough to analyze where market is heading but one simple rule of PITCHFORK will give you the answer. 2) The Pitchfork used in the chart is Andrew's pitchfork ( using 2008 low , following high and 2020 low) . 3) Price rejecting from the upper line with a confluence has to return to median ... simple as that. Price extended 100% from March 2020 and hit extended pitchfork upper line ----so it has to return to median which is ~23656 by Jan 27th 2025 . 4) Timing might be off but price should come around that area which is also 50% retracement area from June 2024 elections low. Time also aligns closely with Feb 1st Budget day . Conclusion - I feel we entered correction state and its gonna last for 3-4 months). Based on the time frame of correction, market will be in a complex correction of Zigzag, flats and triangles to results in a WXYXZ correction. Markets will be bearish to sideways in coming months. This is only for educational purpose and an idea on how market geometry works in higher timeframes using technical tools to find confluences in support of price action. Cheers!!!! Happy Trading.
NSE:NIFTY
by dasgaaravishnu
Gold Current PA before NFPCurrent PA on H1 showing bullish trend with consistent higher highs and higher lows. The ascending trendline acts as dynamic support, holding the structure intact. The price has broken above pivot R1 level and is now sustaining above it, indicating a good strength on this time frame by buyers The price is moving in impulsive waves (blue zigzag lines), showing controlled corrections before resuming the primary trend. Liquidity is likely building below the ascending trendline. If the price breaks this trendline, it could indicate a sweep of liquidity before continuing upward or can lead to correction if price breakdown this support trend line. above this buyers are in control . on bigger picture price is consolidating inside a Triangle and the direction is not clear on daily right now . today we have NFP and Unemployment data which can act as main driver for next move
OANDA:XAUUSD
by TheGoldenCircle
3
**Scenario for BTC**1️⃣ **Fundamental analysis:** 📊 Nonfarm data last weekend was good for the USD and impacted the interest rate cut policy. It is likely that we will have to wait until June for the next interest rate cut. 📉 Current market sentiment is affected by this information, plus the recent sharp increase in BTC price has made many people doubt the momentum to continue to increase to a higher price range. Therefore, the increase has temporarily slowed down. 2️⃣ **Technical analysis:** 🔹 **Week frame:** Last week closed not very optimistically when the price reacted badly at the resistance zone of 101k~104k. 🔹 **Frame D:** The price structure is also not good when there are 2 peaks with the latter peak lower than the previous peak. The price is approaching the support zone but there is no clear reaction, it is likely to adjust to a lower support zone. 🔹 **H4 frame:** Based on the Zigzag line, we can see the classic head-and-shoulders pattern. At this time, we should not catch the bottom when the price has created a lower peak, showing that the market sentiment is no longer interested in the possibility of BTC's price increase. 3️⃣ **Trading plan:** ✅ If you have a **SELL** order in a good position, congratulations! 🎉 You can absolutely wait for a better profit when BTC is likely to break the current support zone to reach the next support zone of 85~86xxx. ⛔ **Absolutely do not BUY** at the present time, when the price structure shows a short-term downtrend. 💪 **Wish you successful trading!** 🚀
COINBASE:BTCUSD
by TonyL0ng
This chart represents a detailed Elliott Wave analysis for Gold This chart represents a detailed Elliott Wave analysis for Gold (XAUUSD) in a 1-hour timeframe. Here's the explanation: Elliott Wave Progression: The chart shows waves labeled as (i), (ii), (iii), (iv), and (v) for a larger impulsive move down. Following the completion of wave (v), a corrective structure (marked with W, X, Y, Z) appears, indicating a complex corrective wave. Corrective Wave Structure: The corrective wave appears to form a double or triple zigzag pattern (W-X-Y-(Z)). The orange trendlines illustrate a wedge or channel pattern, suggesting consolidation or exhaustion in the corrective phase. Current Status: The blue circle marks the point of interest where the price breaks out or rejects the wedge pattern. This could indicate the end of the corrective phase and the beginning of the next impulsive move. Future Projections: The red arrow pointing downward suggests continuing the decline to complete wave (c). Key Fibonacci retracement levels (0.618 and 0.786) are marked at $2,551.15 and $2,527.49, respectively, as potential support zones. The highlighted yellow area serves as a strong demand zone, potentially signaling where the price may reverse after completing the correction. Long-Term Expectation: After completing wave (c) near the demand zone, the upward red arrow suggests a significant bullish move. This aligns with Elliott Wave theory, where a strong impulsive wave follows a corrective wave. Key Levels: Resistance: Near the upper boundary of the corrective wedge/channel. Support: Fibonacci retracement levels and the highlighted yellow zone.
CAPITALCOM:GOLD
by subhagghosh
NIFTY 04-12-2024 - WEDNESDAYPossible explanation to Nifty Movements today ( The zigzag pattern) pre open market was more like a hanging man where HDFC bank reliance industries, TCS were positive but ICICI Bank, infosys and other top IT where downward to flat. Hence, it was expected to be a flat market. Opening was strong with back to back green candles but it could not break the standard deviation path for a long time hence it was expected to fall since its just opposite of what happened yesterday. Resistance and support were both super strong which explains whever it touches extension of Resistance it falls back similarly when it touches extension of support it tends to pull back and return to mean position which is blue line. All together for now market is positive and we expect people to stay a little deep in the money with small stop losses and re-entry.
NSE:NIFTYLong
by ajayekka002
Gold : The fundamental context and goals have both changedOANDA:XAUUSD The breakout of the local downtrend channel has disadvantaged sellers. The fundamental background is changing, despite continued USD buying and the prevailing risk-off environment, which overall favors gold as a safe-haven asset during times of crisis. The stronger USD, supported by the ongoing "Trump trade" rally, and US bond yields have rebounded across various maturities. Despite the optimism around the USD, gold prices remain resilient and benefit from escalating geopolitical tensions between Russia and Ukraine. Therefore, gold prices are likely to continue their growth in the near term before today’s scheduled news (PMI)... However! Since this is pre-news before session closing, reactions may consolidate for sellers before further strengthening. Technically, gold has every opportunity to retest the boundaries of the previously broken channel. However, based on fundamental news and technical factors, we can conclude that further growth may continue. Prices are heading toward a liquidity zone, from which a correction may occur, followed by expected further strengthening in the near term. But in any case, I prioritize and consider buying upon a clear breakout of gold at 2686 - 2700, targeting the medium-term highs as outlined on the chart.
OANDA:XAUUSDLong
by Bo-Samson
Gold-> Buyer Back Yet?After suffering significant losses last week, gold has regained its recovery momentum and is trading positively above $2,600 on Monday. The fundamental backdrop supports this recovery. Key resistance levels at $2,518 and $2,628 now divide the market into two distinct zones. Meanwhile, market participants are awaiting moves from several Fed officials this week to gain further insights into the U.S. interest rate trajectory. The most likely scenario at the moment is a slight recovery in gold prices following the recent steep sell-off, with expectations for gold to climb higher after several reversals in the USD. In the medium term, bulls need to reassess U.S. policy planning in December, as the Fed is expected to hold rates steady in January. This has not been fully priced into the market, so any adjustments could pose challenges for gold. Technically, since the market opened, prices have climbed considerably, increasing the likelihood of resistance capping further upward movement. A false breakout at $2,589 and subsequent consolidation below this zone would strengthen selling pressure. However, there is potential for a retest of $2,618 (Order Block). Similarly, a failed breakout could trigger selling momentum. But if the fundamentals align strongly in favor of gold, the market may have a chance to shift the local trend from the $2,618 zone.
OANDA:XAUUSDShort
by Bo-Samson
GBPUSDFX:GBPUSD Back to the liquidity test above after the free fall. The pair lacks bullish conviction amid a stable US dollar and as investors choose to wait for the Bank of England (BoE) Monetary Policy Report Hearing before placing strong bets. A clear bearish wave is forming on the larger timeframe, on the smaller timeframe the downtrend is formed based on negative fundamentals, which only strengthened after Trump's victory. Therefore, any strong resistance can easily hold the market. On H4, it is trying to break out of the main range, breaking the main support level. A consolidation is forming inside the channel, if sellers hold the 1.269 - 1.277 zone, we can expect a decline towards the areas of interest in the medium term. Resistance: 1.282 - 1.277 and 1.269 Support: 1.259 - 1.247 and 1.231 The focus is on the resistance level mentioned above, as the further struggle and movement of the market depends on this important zone at this point. The bearish structure will be broken when the local high at 1.282 i.e. (0.5 fib) is broken and the price consolidates above this zone.
Short
by Bo-Samson
Update latest gold price today !Hello everyone! Gold has been in a steady decline since the start of the week, currently sitting at 2561, with strong indications that this downtrend may persist. The key 2550 level is still fiercely contested, keeping traders on edge. The market remains clouded with apprehension, especially with recent developments in the U.S. following Donald Trump's election as president. This lingering uncertainty may continue to weigh heavily on gold. At the moment, all attention is focused on the upcoming October Producer Price Index (PPI) report in the U.S. Analysts are forecasting a year-over-year increase of 2.3% for October, a notable jump from September's 1.8%. If both the CPI and PPI show further inflationary pressure, the Federal Reserve could be pushed to raise interest rates, which could apply even more pressure on gold prices. A stronger U.S. dollar would make gold trading and holding costs more expensive, potentially intensifying the sell-off. Technically speaking, the battle at 2550 is far from over, and there’s a strong likelihood of a brief pullback before continuing the downward trend. This could mean a possible retest of the 2600-2580 resistance zone before resuming its decline. Chart patterns suggest that if the correction unfolds as anticipated—possibly in line with an Elliott wave impulse—the target could be around 2485, a drop of over 1000 pips from the resistance level. Stay tuned for more developments as this situation unfolds!
OANDA:XAUUSDShort
by Bo-Samson
2