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Wave Analysis

Nifty Analysis for 21-22 Nov Based on elliott wave forecasting on hourly chart we are in either wave iv or v of y of wxy correction. Which gives two possible scenarios as given in chart Green : we are wave iv with a and b completed and c can continue in future. Possible trade given in green box. Red: we are wave iii of iv and go like red arrow, trade given in red box. This is for educational purpose and not an advice/recommendation to buy or sell. Do your research before trading. Happy Trading.
NSE:NIFTY
by IMStockwala
1
GRASIM - UP for a 10% correction from 2500 levels? CMP - 2508 TF: daily 5 wave impulse from June'22 lows (1271) has ended at 2877.75. The Zone for the 5th wave termination was between 2731 to 2923 Internal counts are highlighted/mentioned in the chart for easy understanding. Upon completion of the 5 wave impulse, price came down in single leg about 380 points. We can consider this as wave A and then a corrective rise to 2833 for wave B and thereby making a Double TOP. Price is now trading in the C wave and could potentially head towards 2200-2100 levels in the coming sessions. This fall could very well be a 5 wave structure too.. but for now, I have labelled it as 3 wave down-move only. Break of the 2-4 trendline (rising trendline from wave 2 low of 1521 and wave 4 low of 2171) would confirm trend reversal For now. the AVWAP from the B wave top at 2645 will act as the RESISTANCE - Price has broken the swing low of 2505 and consolidating at the breakout zone. Needless to say, the first dip to this level was bought in to already.. the current consolidation could very well signify a potential breakdown. - the 2490-2510 range is also happens to be the 200 DEMA.. Price is consolidating here instead of bouncing up strongly. - Price on Daily TF is trading well below the Cloud, Base and Conversion lines.. - The next potential SUPPORTS are 2171 June'4th Low, and 2210 (AVWAP from the lows) - Since this is a retracement of the entire impulse from 1271 to 2877, the 50% fib level is placed at 2075 - In harmonic pattern, the minimum expected target is around 2250 - Assuming that this is a 3 wave swing, I have considered alternate Shark pattern in Harmonics.. if it goes past the X leg at 2182, then Cypher pattern will come in to play (target would be 1900 to 1700).. to be reviewed how it acts at 2000-2200 levels first. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
NSE:GRASIMShort
by Murthy_Santhosh
1
Is this stock potential? How can we trade? HDFC AMC All of the major index and stocks are trading in bearish structure. Market is potentially discounted and we can look for some buy opportunities. Looking at HDFC AMC stocks, it is still trading in Bullish structure. For any buy setup we would wait for a Change of structure on lower timeframe , mostly on 15 mins. Look for MSs on 15min and then we can target the daily recent high as future targets. Trade safe. This is just for educational purposes.
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NSE:HDFCAMCLong
by Santoshsharma9
1
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
#Banknifty directions and levels for November 21stBank Nifty Current View: The structure is similar to the Nifty sentiment. If the market declines initially, we can expect a minimum of 78% (OIS) if it breaks the level of 50,316. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 50,648, it will reach 50,867. After that, if it gets rejected there, it will close where it opened.
NSE:BANKNIFTY
by Manickamtraders
NIFTY50: INSTITUTIONAL LEVELS FOR 21/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:NIFTY
by tony_fx_sm
NIFTY RANGE AT MAKE OR BREAK LEVELMarket Context and Current Position: The market appears to be completing the Elliott Wave (5), indicating a potential cycle conclusion. The recent price action shows bearish divergence in the RSI indicator, which signals momentum loss and a higher likelihood of a reversal or correction phase. The current level aligns closely with a Fibonacci retracement zone (38.2%), a historically significant support level. Potential Scenarios: Reversal Scenario: If the market respects the Fibonacci 38.2% level, a rebound can be expected. The Elliott corrective wave (likely ABC) could transition into a new bullish impulsive wave structure, contingent upon strong buying pressure. Continuation of Correction: A failure to hold at the 38.2% retracement level could lead to a deeper correction toward the 50% retracement level, coinciding with a critical long-term trendline from the March 2020 low. This would represent a structural retest of the broader bullish trend initiated post-COVID crash. Key Levels to Watch: Resistance Levels: The immediate resistance lies around the peak of the recent wave (near the 23,500–24,000 zone). Any upward breakout should be monitored for a potential extension of the wave 5 structure. Support Levels: The 38.2% retracement level (approximately 23,000) and the trendline support. The 50% retracement level (~21,500) as the next crucial fallback if the 38.2% level is breached.
NSE:NIFTY
by hanifjuneja
1
#Nifty directions and levels for November 21stGood Morning, Friends! 🌞 Here are the market directions and levels for November 21st. Market Overview: There are no significant changes in the global market sentiment. The Dow Jones is showing a moderately bearish trend, and our local market is also indicating a bearish sentiment. Today, the market may open neutral to slightly gap-down, as Gift Nifty is showing a negative 40-point movement. In the previous session, both Nifty and Bank Nifty experienced huge oscillations. Structurally, the market closed between minor swings, which makes it seem like a range-bound market. What about today? We are still in a minor downtrend. If the market opens with a gap-down, the same bearish direction may continue. On the other hand, if it takes a pullback initially, we might see some consolidation within the previous session's range. Let’s explain this further with charts. Both Nifty and Bank Nifty are showing similar structural sentiment. Nifty Current View: The current view suggests that if the market declines initially, we can expect a minimum of 23,275 (MDZ) if it breaks the level of 23,399. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 23,585, it will reach 23,713. After that, if it gets rejected there, it will close where it opened.
NSE:NIFTY
by Manickamtraders
BANKNIFTY: INSTITUTIONAL LEVELS FOR 21/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:BANKNIFTY
by tony_fx_sm
GOLD - XAUUSD - Shorting Opportunity with Good Risk RewardGOLD (USD) - CMP $2630 TF: 90 Minutes After a 5 wave decline, price has moved up in a corrective bounce. And now getting halted/rejected at the 200 Period EMA which is also the previous support zone (now turning to be Resistance) I was hoping for it to test the AVWAP from the highs $2660 (which is also about 50% retracement of this entire fall) Even if Gold has to go up, it can't be a V shaped recovery.. It will come down to retest the lows at the least or even 0.618 Fib of this entire corrective rise. For Aggressive shorts 2645 will be the SL (2 candles close above).. But I would still prefer a test of 2660-70
TVC:GOLDShort
by Murthy_Santhosh
Banknifty forecast 21-22 Nov’22 l Elliott waveBanknifty can have two possible scenarios. It is in correction of 5 wave while in 4 of 5. 4 looks completed and we are in last leg then temporary pause of fall expected. Red : most likely scenerio. Below 50300 we are short for impulse down 💰💰 Green: less likely but we are still in wave 4 it will tests our patience should move very slow up towards 50900-51000. Disclaimer: This post is for educational purpose. No trade/ buy/ sell signal is suggested or advised. Do your own analysis before buying or selling any stock/options.
NSE:BANKNIFTYShort
by IMStockwala
HAL - End of short term correction? 1000 pts rally on the cards?HAL - CMP 4048 TF: 90 minutes Looks like the first leg of correction (A) is almost done in a 5 wave structure. Internal counts are marked Diagonal is visible at the end of this sideways correction/consolidation Price is still holding the June 4th lows. Looking at the sideways correction on weekly TF (see below), looks like the price cant fall one way down, and hence a retracement is expected. You will also notice that price is at the DEMAND zone on weekly TF For this B wave (until or otherwise it breaks a specific Fib/invalidation level, the count remains corrective, and hence, it is considered as corrective rise B), the minimum expectation is 50-61% retracement of this entire fall. That would be 4800-5000 levels. We will decide the next course of action depends on how well the price reacts at that zone. For now, fresh shorts are not advisable and a low risk LONG Set up could emerge soon I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
NSE:HALLong
by Murthy_Santhosh
Nifty View Post Oct 26thJust sharing the current market geometry of Nifty. As per geometry, market hit the 100% extension of the covid wave rally and correcting, market broke the 85.4% (24650) on downside and entered inside our major pitchfork. I feel the selling is over, there was a post about head and shoulder on upside and price may fall up to 23200 levels and all...i admit it. i feel a bit off about the left shoulder and based on price action i feel it doesn't qualify for the pattern. I am providing the view based on geometry like before and ignoring the pattern concept and keeping the trades simple. No complications. 1) Nifty completed rally from the low if Budget day elections , 21274 to 25089 and then correction dip to 24896 and rallied to 24248 (ATH) which is exactly 61.8% extension of the 1st wave and we saw big players pulling out the money because its also 100% extension rom covid low. This we all know. see in weekly charts for clear understanding from the levels mentioned . Minimum rule 2nd candle should properly break the 1st candle to confirm momentum in that direction. If we view the weekly candles the market formed a big red candle and 2 equal wick candles ( 7th Oct and 14th Oct weekly candles) and then formed a big red candle. As per the rule, the selling is not confirmed at weekly level. how does this help? 1) We have 50% and 61.8% pitchfork levels right around where the current selling extension (100%) might end and market ( 23650) levels. Levels of next testing 1) 24115 ( already tested on friday) 2) 24023 (76% extension of current extension wave) 3) 23879 ( 85.4% extension of current extension wave) Last support line 4) 23646 (100%) and pitchfork 50% and 61.8% lines should give strong support here ( see chart, green lines upside) market spent lot of time earlier to break these lines and price action is also very solid base . If markets fall below this, then we can confirm its head and shoulders pattern and can extend till 23200 level ( opening price of July elections). Apart from this i don't see any other scope
NSE:NIFTYLong
by dasgaaravishnu
Update the latest gold price todayOn November 18, gold prices soared nearly $50, breaking a six-session losing streak as the U.S. dollar paused its rally and the Russia-Ukraine conflict intensified. Spot gold closed the session at $2,611 per ounce, recovering from a two-month low. The sharp rise in gold was partly fueled by U.S. President Joe Biden's announcement allowing Ukraine to utilize long-range weapons supplied by the U.S. to target deep inside Russian territory. This escalation in geopolitical tensions has significantly boosted demand for gold as a safe-haven asset. This recent rally underscores gold's resilience in times of heightened uncertainty, with investors flocking to the precious metal amid a volatile global landscape.
OANDA:XAUUSD
by Mr_Siro
5
Bank Nifty possible moves for next 1 monthBank Nifty has been moving in a channel since Covid time, it has formed a rising wedge pattern where the upper band starts at Covid time swing high and lower band starts at Covid time low. I can not switch to monthly timeframe to show the rising wedge pattern on the chart else won't be able to show the possible moves within a month, but the sky blues lines are upper and lower lines of that rising wedge pattern. Here is the link of another post I made to show this wedge pattern on weekly chart:- As of now bank nifty is in between and it is most likely forming ABC correction wave shown in blue color wave. It has formed wave A already after making new LTH where it touched the upper line of pattern and now seems to be making the wave B to retrace back few points on upper side (wave drawn in green) and then it need to form wave C (wave in red color) which can possibly go till the lower line of the wedge pattern as drawn on the chart. As bank nifty has so far respected this wedge pattern lines beautifully since Covid time means 2020 i.e. 4+ years so it is highly likely that it will get support around 49300-49500 if it reaches there following the pattern drawn. This is also 0.618 fib retracement taking 04 June 2024 low (46077) and LTH of (54467). From there it can start a new up move if gets support. ** I have predicted a possible downside move in Nifty 50 as well and for that to happen bank nifty shall fall too, here is the link for that post:- ** This is not a trade advise, just applying chart patterns, wave theory together to predict the possible moves and please do your own analysis before taking any trade. ** If it breaks below 49000 level then Bank nifty will lead to much bigger corrections but for now I am not predicting that to happen. Thanks for taking a look and if you like or find the analysis relevant please like and share. Also comment to provide your inputs which probably I have missed. Thanks!
NSE:BANKNIFTY
by brainyAccount81243