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NIFTY... ELLIOT WAVES COUNTING....Dear friends, As we see in the chart, Nifty is correcting rapidly from an all time high level. While counting the Elliot waves, we can see that waves 1 and 3 on the downside have been completed. The five waves of wave 3 are shown in the chart. Now we can expect wave 4, which is likely to consolidate for a few days. Wave 4 is likely to have moves on either sides and it can form a zig zag or a flat or a triangle pattern. I had shown a flat pattern of wave 4 in the chart. As per my view, the right time to invest will be at the end of wave 5 which is likely to be around 24000 to 24300 levels. Get ready to ride the bumpy wave 4 guys! Trade with appropriate stoploss.
NSE:NIFTY
by Stock-Holmes
9
Silver Futures: Navigating the Bullish Breakout The Silver Futures chart presents a compelling picture, but as we know, navigating the market demands more than just technical analysis. Let's break down what we see: Bullish Signals: The decisive breakout above the VWAP, coupled with the series of green Heikin Ashi candles, paints a bullish picture. The recent breach of the Base Camp level further strengthens this positive outlook. VWAP as a Guide: The VWAP is now acting as dynamic support, offering potential buying opportunities on dips. However, remember that even in a bullish scenario, the market can be unpredictable. Beyond the Chart: While technicals are promising, external factors can sway silver prices. Keep an eye on global economic indicators, geopolitical tensions, and any news that might impact precious metals. Applying the Wisdom: Don't Get Complacent: Even with a bullish setup, risk management is paramount. Set stop-losses to protect your capital in case of unexpected reversals. Stay Informed: Technical analysis is valuable, but it's only one piece of the puzzle. Stay updated on fundamental factors that can influence silver's price trajectory. Avoid Blind Faith in Tips: This bullish setup might attract stock tips, but remember, no one can predict the market with certainty. Do your own research and make informed decisions. In Conclusion: The Silver Futures chart is signaling a potential bullish trend. However, successful trading involves more than just following signals. Combine technical analysis with a keen understanding of market dynamics, risk management, and a healthy dose of skepticism towards "hot tips." This approach will increase your chances of navigating the market successfully, even when faced with its inherent unpredictability. Disclaimer: This is an analysis, not financial advice. Trading involves risk; conduct your own research and consider your risk tolerance before making any investment decisions
MCX:SILVER1!Long
by Profitabletradingindia
2