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Wave Analysis

21st Nov 2024 - Week ended as per plan, but did not make moneyNifty Stance Bearish ️⬇️ Remember my last week's position? Make 11170 if Nifty ends below 23555. Well, we ended the week @ 23346, but I did not make money. In fact, I exited the position at a loss of 3000 on 19th Nov when we shot up. My stance is still bearish, thought will get into fresh positions tomorrow and not today as there was clouded news & events today. For starters, Adani was indicted by New York Court and that sent the ADANIENT crashing -22.61%. Let us give a day or two for the news to settle and then we can take a positional bias, as it stands there could be a minor recovery to Adani stocks tomorrow and a possible short covering. In the grand scheme of things, Nifty continues its downward trajectory hitting a new session low of 22263.  22781 is my nearest strong support and I sincerely hope we go there by the next week. The Total correction from the ATH is close to 12% now and the SIP'ers who started 2 years back in Nifty index fund may be back to zero returns. A further fall of 3% may put them underwater and that would be the right time to see if they panic sell or not. I am quite sure that these last-stage investors may not have seen a bear market in their life and would have committed their every penny to this mad bull run, which just ran out of fuel.
NSE:NIFTYShort
by viswaram
Natco Pharma for 45%+ gainsDate: 21 Nov’24 Symbol: NATCOPHARM Timeframe: Daily Natco Pharma currently seems to be in Wave IV of 3 which could end around 1240-1220 and Wave V could then head towards 1800-1900 levels (45%+ from where Wave IV would end) as seen in the chart. A more precise target can be pinned once it makes a fresh ATH. Two levels (1770 & 1900) have been marked as possible supply zone. The company recently posted good Q2 numbers. The stock is currently trading at a PE multiple of 12.6 while the industry average is around 32. This is not a prediction but a possible wave count. This is also not a recommendation to trade or invest. Please do your own analysis. HINGLISH VERSION Natco Pharma vartamaan mein 3 ke Wave IV mein hai, jo 1240-1220 ke aaspaas samaapt ho sakta hai aur Wave V phir 1800-1900 ke star (45%+ jahaan Wave IV samaapt hoga) kee taraf badh sakta hai, jaisa ki chart mein dekh sakte hain. Ek baar naya ATH banaane par adhik sateek target pin kiya ja sakta hai. Do staron (1770 aur 1900) ko sambhaavit supply zone ke roop mein mark kiya gaya hai. Company ne haal hee mein achhe Q2 ke numbers post kiye hain. Stock vartamaan mein 12.6 ke PE multiple par kaarobaar kar raha hai jabki industry ka average lagbhag 32 hai. Yah koee bhavishyavaanee nahin balki sambhaavit Wave count hai. Yah trade lene ya invest karne ki bhi salaah nahi hai. Kripya apana vishleshan svayan karen.
NSE:NATCOPHARMLong
by DhandhaPaani
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
Motherson -Ended CRAB Pattern -Trading opportunity-10% upmoveMotherson: CMP 164.5 in Shorter TF, the script has completed the extended target for the CRAB pattern. The XABCD legs achieved their targets and the price is bouncing from the PRZ zone of 1.618 extension of the XA leg (on the downside). Potential targets are a minimum of 38% and 50% retracement of the CD leg, that would be 180 and 187 respectively. SL for this set up is 147. Determine your risk and trade accordingly In larger TF, the script has either ended it's 4th or the first leg of the 4th wave down.. on daily TF, price has reached 38% minimum expected retracement level for the 4th wave.. BUT, this downmove looks sharp and one way.. hence, I am expecting one more leg down after the bounce.. That could potentially end at 140-155 levels. For Investors, it is an accumulation zone.. 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:MOTHERSONLong
by Murthy_Santhosh
1
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
#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 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
NIFTY INTRADAY LEVELS FOR 21/11/2024BUY ABOVE - 23620 SL - 23500 TARGETS - 23720,23820,23920 SELL BELOW - 23430 SL - 23500 TARGETS - 23350,23230,23150 NO TRADE ZONE - 23430 to 23620 Previous Day High - 23820 Previous Day Low - 23430 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
BANK NIFTY INTRADAY LEVELS FOR 21/11/2024BUY ABOVE - 50800 SL - 50640 TARGETS - 51000,51300,51500 SELL BELOW - 50440 SL - 50640 TARGETS - 50140,49950,49700 NO TRADE ZONE - 50440 to 50800 Previous Day High - 51000 Previous Day Low - 50440 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
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
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