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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
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
2
ONGC - Did You Get Trapped in an Irregular Flat? – Elliott Wave I Told You So… The Market Whispers! Can You Hear Them? Back in April 2024, I warned you to be careful as the stock approached key resistance at 314, forming a Bearish Bat pattern with a Potential Reversal Zone (PRZ) between 300-275. The stock topped at 287, right at the edge of invalidation. Yet, if you got convinced of the rally above 300, then unfortunately, no one can help—but I did my job of warning you months in advance. This reminds me of BHEL, the stock we discussed a few days back. Let us talk about ONGC. The Irregular Flat structure caught many off guard. Did you get trapped? Because if the current wave unfolds impulsively, which it just started from the highs of 345, then welcome to reality! Warning Through Last Idea in April 2024 As shown in the chart snapshot, how Irregular Flats look has been illustrated next to the price chart. I have depicted the irregular path of flats that could unfold. This is how markets deceive, creating irregular structures that mislead traders. Elliott Wave calls this pattern an Irregular Flat—a trap that looks bullish before a sharp reversal wipes out weak hands. The Lesson? Patterns speak… if you listen carefully. I shared my insights long before the structure unfolded—and yet, if you got trapped, you now know why. Catch me later with another exciting idea of WaveTalks, Market Whispers! Can you hear them? Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
NSE:ONGC
by WaveTalks
10
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
BankNifty -Target Done, ED Done, Fall Done,Bounce, What’s Next? WaveTalks Market Update - Budget Day Breakdown (Feb 1, 2025) The much-anticipated Budget 2025 has failed to cheer the markets, triggering a sharp sell-off that aligns perfectly with a classic Ending Diagonal (ED) breakdown. Technical Setup - ED Play in Action! For those following the Elliott Wave roadmap, the Ending Diagonal (ED), also known as a Rising Wedge, unfolded in the last Wave 5 of a larger degree impulse that began from the lows of 47844 on January 27, 2025, culminating at the psychological resistance of 50000 today on the Budget day 1st Feb 2025. This pattern typically marks trend exhaustion, leading to swift and often dramatic reversals. The market exceeded our prior target of 49650+ before peaking at 50000, and today, we are seeing exactly the expected reaction. Last Bank Nifty Idea - Target 49650+ If you spotted this pattern and managed risk effectively, you are likely riding this sharp decline from the highs of 50000 & Booking Profits close to 48968 key level highlighted in the last idea Magical Support - Intraday 49000 After a sharp 1000-point fall, the market found support at a key level of 48968, highlighted in the last idea. A strong 500-point bounce once again, pushing towards same target of 49650+. Breakdown Details: - Key support level : 48968 - Actual low: 48925 post completion of the Ending Diagonal - Initial fall: 1000 points - Current recovery: 500 points approx. This reversal from key support confirms the significance of the Ending Diagonal breakdown, followed by profit booking and an intraday bounce. Watching the next wave structure will be crucial for further moves. But here’s the big question: How Much Fall? That’s for your financial analyst to answer, but history suggests that ED (Ending Diagonal) or Rising Wedge breakdowns often erase a large portion of prior gains in a relatively short time. Today’s action is a reminder—markets don't forgive complacency. You witnessed the dramatic 1000+ point fall from 50000 to 49000 (approx.) in a single day post the ED pattern & bounce - all cheers! to the pattern Fundamental Backdrop - Budget Disappoints Street Expectations While the government introduced personal income tax cuts aimed at boosting consumption, the markets responded with caution rather than optimism. Several factors weighed on investor sentiment: - Profit booking after a four-session rally ahead of the budget - Economic Survey 2024-25 highlighted concerns about a potential market correction, particularly impacting retail investors who may not have seen significant downturns before This confluence of technical exhaustion and lukewarm fundamental sentiment led to today’s sell-off. ✅ Key Takeaways & Next Steps - 50000 top confirmed as ED completion - Sharp downside expected as structure breaks down - Fundamental triggers amplify selling pressure - Profit-taking and caution dominate post-budget moves The reversal is here. The next critical question is: Which wave unfolds next? Will it extend into a deeper corrective structure, or is there a potential counter-trend bounce? Identifying the next logical buying or selling zone will depend on how the upcoming wave develops within the larger Elliott Wave framework. Stay sharp, stay prepared, and catch me later in another exciting update from WaveTalks – Market Whispers! Can you hear them?🔥 Regards, WaveTalks Abhishek
NSE:BANKNIFTYShort
by WaveTalks
3
BankNifty -Will It Be Explosive Up - 49650+ ( Missed last time)Disclaimer: This analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions. WaveTalks Market Insight – The Next Big Move? As discussed in the last idea, the market witnessed a failed impulse as per the dea mentioned below, leading the Index to drop to slightly new lows on 27th Jan 2025 before eventually turning back upward. This movement sets up an interesting wave structure that traders need to watch closely. Last TradingView Idea Wave Structure Breakdown Wave 3: Successfully extended and touched 49250 (approx) before losing momentum. Wave 4: Currently forming a triangle or is about to complete its final phase. Key Level – 49250: This level is acting as a pivotal point. What Happened at 49250? After hitting 49250, the market witnessed a sharp sell-off, dragging prices down to 48750 in the closing session on 28th Jan 2025. This drop suggests the wave 4 consolidation phase is still in play before the next directional move. Trading Strategy – What to Watch For? 🚀 Next Buying Opportunity: Above 49250, a breakout from the triangle in Wave 4 could trigger a strong thrust towards 49650 This aligns with the Elliott Wave thrust pattern, where triangles typically lead to a strong final push (Wave 5). 🔻 Caution for Sellers: If the price fails to hold above 49250, the triangle might extend, leading to further consolidation or a potential false breakout trap. Support to watch: 48750 – If this level gives way, further downside risk increases. Execution Plan for Traders Long Entry: Above 49250, confirming strength with volume. Target: 49650+ (Wave 5 thrust). Stop Loss: Below 49000, ensuring protection against false breakouts. Alternative Scenario : If 48750 breaks, re-evaluate for a potential deeper correction. 📌 Final Thoughts: This setup presents a high-probability trade if the structure plays out as expected. However, market conditions can change rapidly, so risk management is key. Regards, WaveTalks Market Whispers! – Can You Hear Them?
NSE:BANKNIFTYLong
by WaveTalks
3
Bank Nifty - Is this A Rising Wedge from 47898 As discussed early morning .... 49000 was our key & psychological level ... Index dropped & came close to 48500-48600 zone Falling From 49000 Level Support Zone 48500-48600 Makar Sankranti marks the Sun's transition into Capricorn and the beginning of an auspicious period. Historically, equity markets turn optimistic post-Makar Sankranti, driven by cultural sentiment and Budget expectations. Will Budget 2025 keep the trend alive? 🌞 This comes after a 26-day fall in major benchmark indices, which started on 5th Dec 2024. In the last two days, the index surged from 47,898 to 49,000. However, during the first half of today's session (15th Jan 2025), it fell below 49,000, hitting a low of 48,522 as shown in the snapshots
NSE:BANKNIFTYLong
by WaveTalks
4
BankNifty at Crossroads: Will 52,600 Hold the Bulls?As per our last update via comment: “Bulls will remain strong if the index holds above 52,600.”... 5th December 2024 The rising trendline halted the index at 53,888. 6th Dec 2024 Post-RBI policy today, the index again paused near the rising trendline. The big question Will the buying zone of 52,500-52,600 come into play again? And if it does, will it hold that zone? “If the index revisits the 52,500-52,600 zone and holds, will you dare to miss the opportunity to ride the bulls again?” Market Whispers! ...Can You Hear Them? Regards, WaveTalks Abhishek
NSE:BANKNIFTY
by WaveTalks
1
BankNifty - 900 Points Bounce - Leading Diagonal Scenario ?As we discussed on 1st Dec 2024, an upside move towards the recent high was anticipated. If the recent high holds...then what? I'm glad to see we got a strong 900+ points bounce in Bank Nifty Index since Monday, 2nd Dec 2024. This aligns exactly with our weekend discussion. Elliott Wave Analysis (Advanced School of Thought) This could be a classic market scenario to include in my upcoming book. If the index halts below 52760, we might be witnessing a Leading Diagonal Scenario: From the highs of 52760's Referencing the bible book of Elliott Wave by Frost & Prechter (Page 41, Figure 1-21): Snapshot captured at 11;49 am / 3rd Dec 2024 Leading Diagonals occur at the start of a decline. They can retrace up to 99.99% but cannot exceed 100%, which would be 52760 in this case. Current Scenario: A Leading Diagonal appears to be forming from the highs of 52760. It has retraced until today's high of 52748. Can This Be a Double Top and Leading Diagonal Scenario at 52760? Line in the Sand (Stop Loss): The index cannot cross above 52760. If it does, the pattern is invalidated, and we’ll need to reassess. Market Whispers! ...Can You Hear Them? Regards, WaveTalks Abhishek
NSE:BANKNIFTYShort
by WaveTalks
5
BankNifty, Nifty, Gold & Bitcoin - Maha Bounce!In last week's video, we anticipated significant moves across BankNifty, Nifty, Gold, and Bitcoin, all aligning with NDA+ victory in the Maharashtra Assembly elections. Here’s a quick recap and what to watch next: BankNifty: What's Next? - The index could face resistance in the 51650-51950 zone as a Bearish Shark pattern unfolds along with falling channel resistance. - If a gap-up move brings BankNifty into this resistance zone and it holds below 52000, it could present an opportunity to sell. - Key Alert: If the index breaks above 52000, the Bearish Shark pattern becomes invalid, as it would breach the falling channel. - In case of a gap-up opening at 51650-51950, be cautious of a sharp drop towards the 50950-51000- first target zone downside - Further downside could extend to 50350-50550 if 50900 support breaks. Gold: A $100+ Upside Move Gold delivered a remarkable bounce, gaining over $100 + as discussed last week. Bitcoin: Nearing $100,000 Bitcoin is on the verge of a monumental milestone, heading close to the $100,000 mark—a notable achievement since last week's prediction. Stay sharp as we enter this critical week. Watch for the levels discussed, and remember to trade with caution. Let’s see how these setups play out! Market whispers! Can You Hear Them? Have a great week ahead! Best regards, WaveTalks
NSE:BANKNIFTYShort
by WaveTalks
8
Bitcoin - Irregular Triangle heading for 100,000 USD Target ?As discussed in yesterday's video, we're expecting a thrust in Bitcoin towards the 100K USD mark. Will this milestone become a reality soon? 🚀💰 Irregular Triangle An Irregular Triangle has beautifully unfolded, setting the stage for an upside thrust as per Elliott Wave Theory. This pattern, characterized by its distinct higher highs and lower lows within corrective waves, signals the breakout wave. From a wave perspective: - The ABCDE structure of the triangle suggests a classic consolidation phase is complete. - The upward thrust aligns with the typical post-triangle behavior, often extends strongly in the direction of the trend. Regards, WaveTalks Abhishek Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. -------------------------------------------------------------------------------
CRYPTO:BTCUSDLong
by WaveTalks
HDFC Bank / BankNifty - The Giant Cracks & Index Melts 4000 +Disclaimer: This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products. -------------------------------------------------------------------------------------------- Recap from 25th Sep 2024 Giant Crack Alert: BankNifty’s drop from 54,467 on 26th Sep 2024 to 50,194 by 7th Oct 2024 got its hint from the HDFC idea published on 25th Sep. When a giant like HDFC cracks, imagine the shockwaves across the entire index! HDFC - Will it take U-Turn from 1800 — Indeed It was giant crack from 1788 --------------------------------------------------------------------------------------------- Short Term Strong Support Zone 50900-51000 - Avoid taking any buy or long positions below 51000 . Safe Traders to Buy if Index crosses above 51356 & holds above. Risky Traders can look for buying opportunities until Index holds above 51000 or drops close to 51000 Minor Resistance 51925 - 52050 is the minor resistance zone so any bounce upside holding 51000 can halt in this zone & crossing above 52100 - It can push towards strong resistance zone 52900-53100 Strong Resistance 52900-53100 Wishing You A Happy & Prosperous Diwali 2024 From WaveTalks Abhishek
NSE:BANKNIFTY
by WaveTalks
2
Maruti - Up, Up & Away in the 5th Wave Above12555 Disclaimer: This is not a solicitation to buy or sell; please consult your financial advisor before making any trading decisions As discussed earlier on 1st Sep Idea, Maruti’s performance above 12555 was critical. Now, the stock is pushing Up & Up & Away with new highs beyond 13680 in sight. Will it break the upper trendline and complete the highly anticipated Wave 5 in the Elliott Wave Structure ? Last Idea - 1st Sep 2024 : Maruti Suzuki - Will it fly Above 12555 Regards, WaveTalks
NSE:MARUTILong
by WaveTalks
4
HDFC - Will it take U-Turn ? - Close from 1800 Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers! Can you hear them?........... Will the Giant Take a U-Turn after achieving all the targets 1555 was the first in the series .... Possible Reasons for Next Expected Move Possible Double Top at 1794 ( Will be valid until holds below 1800) Pattern Thrust from 1630's - Key level Elliott Wave - Corrective Sequence could be completed from the support zone 1375 - 1390 to 1800 approx highs .or about to end .mentioned in the connecting 1st idea published on 27th Jan 2024 - The Bullish Gartley Bullish Gartley Idea ( 1375 - 1800..) - 1st Idea of the Series in Jan 2024 Enjoying Target 1 - 1555 in April 2024 Nifty at 26000 - We are almost close to 27600's Target ...Can we achieve the dream run or we correct & later push towards From WaveTalks Good Night
NSE:HDFCBANKShort
by WaveTalks
7
Bank Nifty - Explosive 800+ Points MoveDisclaimer: The content provided here is for informational and educational purposes only and should not be considered as financial advice or a solicitation to buy or sell any securities. Always do your own research or consult with a professional advisor before making any trading or investment decisions. WaveTalks is not responsible for any losses that may occur as a result of reliance on this information. WaveTalks - Market Whispers! Can you hear them? The insights are fascinating, and when combined with old-school analysis, it becomes a lethal combination – as you witnessed today in the markets. Bank Nifty: Bhelpuri Analysis at its Best! What you saw unfold today was a result of a bhelpuri analysis. To simplify, this powerful move started with a Bullish Engulfing Candlestick Pattern right at the bottom of the historical level (50939-50950), as highlighted in the last update combined with Wave Analysis Last Idea - Enjoyed 1350+ Points Today, Bank Nifty surged by 850+ points, nearly achieving our third target, falling short by just 150 points. But no worries, the magic in today’s waves was undeniable. Key Psychological Level : Bank Nifty is now approaching the 52000 mark. If it breaks past this level, we could witness an even more explosive move. Caution Near 52000 : However, if it struggles at 52000, caution will be necessary as we approach this critical threshold. Nifty: Major Surge Across Indices While Bank Nifty stole the show with its remarkable 850+ point leap, Nifty also saw a significant rally, jumping 490 points in a single day! This synchronized movement in the indices is a testament to the power of blending Wave Analysis with traditional methods.
NSE:BANKNIFTY
by WaveTalks
2
BankNifty ( Elliott Wave) - Will 51700+ Be The Short Term TopDisclaimer: This is not a solicitation to buy or sell any financial instruments. Please consult your financial advisor. Explore the latest Bank Nifty analysis with WaveTalks. Will 51700+ be the short-term top? Discover insights and potential market moves as we decode the whispers of the market. Stay informed with WaveTalks - Market Whispers! Let's Jump In ... As discussed in the last idea published on 29th August, it was suggested that holding the 50938 / 50939 critical level, Index can make new highs beyond 51404 which is very much possible. The market tested traders' patience on Friday, 30th August, and continued to do so on Monday, 2nd September, and even on 3rd September, with many feeling the urge to give up. However, bulls were fortunate as a last-minute explosive move took BankNifty from 51400 to 51750—a 350-point jump towards the end of the session. Now, with U.S. markets trading in deep red, with major indices like S&P, Dow, and Nasdaq all down more than 1%, the big question arises: Has the BankNifty pattern we’ve been discussing since last week finally completed? Are we about to fall below 50939, potentially slipping down to the 50300 support level? Only time will reveal the answers to these questions.
NSE:BANKNIFTYShort
by WaveTalks
3
Maruti Suzuki - Will it fly Above 12555 Disclaimer: This is not a solicitation to buy or sell. Consult your Financial Advisor before trading. ----------------------------------------------------------------------------------------------- As discussed earlier on 19th Aug ...Above 12555 ...Will Maruti Make An Attempt to Fly & Will it reach the upper trendline & make new highs beyond 13680 Will it Complete One of the Most Important ElliottWave Structure & Its pending Wave 5 on Upside What Level You Should Avoid Trading ? So Many Questions But Only time Know's the Exact Answer Catch Me in Next Episode of WaveTalks- Market Whispers! Can You Hear Them? ....
NSE:MARUTILong
by WaveTalks
5
BankNifty -Tower Bottom Unveiled: Bulls Magical SpellWaveTalks - Market Whispers! Can You Hear Them?... August 13th: The Bulls' Last Stand As we approached August 13th, 2024, the market was rife with tension. With stops being hit left and right, I made it clear at 12:55 pm in the last post that the bulls weren’t giving up without a fight. It was a crucial moment—one where patience and strategy were key. The market flirted with disaster, yet I advised holding the line, suggesting that the critical level… would be our stronghold. August 14th: The Calm Before the Storm The following day was a test of nerves. The market kept everyone guessing, moving in unpredictable waves. But I didn’t waver. I updated my social media followers, pointing out that while the expected gap-up didn’t materialize, it was a blessing in disguise. Why? Because it set the stage for an even bigger opportunity. I highlighted that crossing 49,960 could trigger an upside move for safe traders , while risk-takers should stay alert as some kind of accumulation happening close to 49654. August 16th: The Magical Spell Unfolds Post-Independence Day, on August 16th, the market delivered a performance that was nothing short of magical. It was as if the entire week had been leading up to this moment. The day began with a gap-up ( Instead of green big candle it was gap up equivalent to bullish green tower required for Tower bottom patter with accumulation in between), and after briefly retracing to the 49,870s, Bank Nifty launched into a powerful rally, surging past 50,500. This move confirmed the formation of a Tower Bottom pattern—a bullish candlestick formation that signaled the beginning of a new uptrend- is it a new up trend or some relief to bulls, only time knows -what next? The Tower Bottom: A Bullish Reversal This Tower Bottom pattern wasn’t just any signal; it was the market’s way of announcing that the accumulation phase at 49,654 had reached its tipping point. With this pattern confirmed, the path to 50,800+ became clearer than ever. The market, as I’ve always said, is a battlefield where only the swift and the strategic survive. Those who heeded the call to cut losses quickly if the key levels broke were well-prepared for this bullish reversal. The Road Ahead: 50,800+ in Sight With the Tower Bottom pattern in play, Bank Nifty is now set on a course towards our first target of 50,800+. This move is a testament to the power of technical analysis, patience, and unwavering discipline. The market has shown its hand, and for those who were ready, the rewards are already being reaped. This was not just a trade—it was a lesson in precision, timing, and understanding the subtle cues of the market. The week may have been truncated, but the gains were anything but small. Keep your eyes on the prize as we approach our next milestone, for the journey is far from over. Regards WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
5
BankNifty - Bullish Shark Sitting on Rising Parallel Channel11:38 am / 13th Aug 2024 Last - 50325 The Bank Nifty chart showcases a Bullish Shark Harmonic Pattern forming within a rising parallel channel . The pattern suggests a potential bullish move, provided that the price holds above the crucial level of 50149 , which should act as a strict stop loss for any long positions. If the bulls can defend this key level, there is a strong possibility that the index could aim for the upper target zone around 50800+ levels . The alignment of the Shark pattern with the rising channel supports this bullish outlook. Traders should monitor the price action closely, as maintaining the channel's support is critical for uptrend to start next & reach the target area close to 51000 -which is very important psychological level & Strong supply zone. What is Supply Zone ? -Try & Ask these questions to yourself - get the answer, get the move & enjoy your week. Regards, WaveTalks
NSE:BANKNIFTYLong
by WaveTalks
6
Gold Elliott - 5 Waves to top 2488 - Tower Top Candlestick Recent Performance Update As per the last idea published, we saw a significant bounce of $184 following the post-triangle analysis. Last Idea on Gold Clear 5-Wave Structure from 2304 Bottoms Yellow metal has unfolded a clear 5-wave structure from the bottoms of 2304 to 2488 & reversal candle is unfolding from the tops of 2488. Reversal Candle in Play The Bearish Tower Top is a reversal candlestick pattern typically observed at the top of the trend which can be seen unfolding in the current scenario at the tops of 2488. Bearish Tower Top Candlestick Pattern A strong bearish candle has taken out the lows of the last few candlesticks while going up, which can be a strong signature unfolding in favor of the bears. Bearish Signature Unfolding at 2488 Tops Slipping below 2465, Gold has key and minor support at 2406 lows. Once the lows of 2406 and 2400 support zone are breached, Gold can slip down to important levels at 2355 and 2305 lows. From WaveTalks Abhishek
COMEX:GC1!Short
by WaveTalks
9
Bitcoin - Classic Flat-Screaming for 72000 Target Upside Elliott Wave Flat Sequence with Wave C Ending Diagonal In Elliott Wave Theory, a flat sequence typically consists of three waves: A, B, and C. The pattern is generally labeled 3-3-5, indicating the wave structures. Wave A: A corrective three-wave move. Wave B: Another three-wave corrective move, often retracing Wave A by 90% or more. Wave C: A five-wave move, which can unfold as an ending diagonal. An ending diagonal in Wave C indicates a slowing momentum, often signaling a reversal. The ending diagonal structure usually forms a wedge pattern, tapering towards the end. This setup is crucial for identifying potential turning points in the market. Buying Trigger Above 66457 Target 71993 From WaveTalks Abhishek
CRYPTO:BTCUSDLong
by WaveTalks
2
Auropharma - Can You Catch Wave Top ,Recognise This Pattern ? Elliott Wave is a such an amazing scientific method, if you apply them & be humble & open to what market tells you, you are going to be rewarded like catching all the waves. Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? From WaveTalks Abhishek
NSE:AUROPHARMA
by WaveTalks
6
Nifty : Explosive Part 2 - Towards 23000+ Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? ----------------------------------------------------------------------------------------------- May 11, 2024 Overview As an Elliott Wave analyst, I stress the need for having both a main plan (Plan A) and a backup plan (Plan B) when analyzing markets. If Plan A doesn't work, we quickly switch to Plan B. If both plans agree on the market direction, we expect strong results. Recent Market Review In a recent comment over last idea ( Comex Copper = Explosive Nifty : Part 1) with a colleague, Ashok, he mentioned that although the market was strong, a drop was expected soon. To which I confirmed YES on 5th May 2024 & Indeed market unfolded exactly as per our plans - In last week, Nifty Index fell by 400-500 points. Copper and Nifty Correlation Reminder of Previous Analysis: If you missed our last report on how Comex Copper and the Nifty Index move together, remember that these trends greatly affect our predictions. Do read Comex Copper = Explosive Nifty : Part 1 mentioned below Current Market Outlook Key Levels to Watch: - Key Support Level:21,700 - Critical Support Level:21,125 - If the market stays above these levels, we expect a significant rise, potentially pushing the Nifty above 23,000 by the end of May 2024 & early June 2024. Stop losses: Safe Traders Avoid Trading if NIfty Index dips & holds below 22000 level Future Expectations Anticipated Timeline We are particularly focused on what happens around June 4, 2024. This will be a key moment to see if our predictions hold true. Conclusion The agreement between our main and backup plans, along with the market staying above key levels, points to a potential strong rise soon. Have a great week ahead! From WaveTalks Abhishek
NSE:NIFTYLong
by WaveTalks
14