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BankNifty - 3000+ Points Fall With A Simple Trendline?BankNifty Analysis Current Scenario: - As discussed earlier, the rising trendline has been limiting the upside movement since the RBI Policy announcement on 6th Dec 2024 - The price is the primary indicator; economic news often lags behind price action. Elliott Wave Analysis highlights this effectively, using channels and trendlines as key tools. - BankNifty is currently in a complex correction phase, experiencing a significant 3000-point fall from recent highs. - Failed to hold 52600 which was important support level Last BankNifty Idea - 6th Dec 2024 Support and Resistance Zones: - Support Zones: 51150 – 50900 - Resistance Zones: Gap zone 51775 – 52000 Short-Term Trading Strategy: 1. Intraday Opportunities: - If the gap zone (51775–52000) is filled, it will act as resistance. Traders should look for potential halts in the rally started from the 50609 lows. - Watch for a pullback to the support zone (51150–50900) for possible buy setups. 2. Buying Opportunities: - If the index holds above 50609 lows, look for opportunities to ride the upside towards the channel highs, where resistance is expected. - Monitor price action near these critical zones to confirm your trade setups. Outlook: Santa Rally - The much-anticipated "Santa Rally" may bring relief to domestic and global markets if the index manages to sustain above its support zones. -------------------------------------------------------------------------------------------- Nifty Analysis Current Scenario: - Nifty has a positive bias as long as it holds above 23500. - A breakout above 24180 will confirm the uptrend, paving the way for a move towards 24800 and potentially the 25000+ zone. Support and Resistance Zones: - Support Zone: 23500 - Resistance Zones: 24180, 24800, and 25000+ Short-Term Trading Strategy: 1. Upside Confirmation: - A decisive move above 24180 could signal a buying opportunity for short-term traders, targeting 24800 and beyond. 2. Caution at Higher Levels: - Traders should exercise caution near 25000+ levels as FIIs return from vacation, which may introduce volatility. --------------------------------------------------------------------------------------------- Final Thoughts: - Both indices are presenting potential short-term trading opportunities if key support and resistance levels are respected. - Always use risk management strategies and avoid chasing moves without confirmation. Wishing everyone a Happy and Prosperous New Year 2025! May your trades be profitable and your goals achieved. 🎉 From WaveTalks Market Whispers - Can Hear Them! Abhishek
NSE:BANKNIFTYLong
by WaveTalks
2
ADANI WILAMR by KRS Charts5th Nov 2024 / 9:22 AM Why AWL ❓❓ 1. Decent Fundamental and Corrected Stock Technically. 2. Even its Correcting since long time, it made HL in monthly Timeframe. Which is good sign.✅ 3. Clearly 5 Wave Correction Structure is finished, One Bounce is expected till 4th Wave height from current price. 4. Upside Movement can be Sluggish it's a swing Entry so. 📈 With a Good R/R more than 1:3 Target will be 509 Rs. with SL of 285 Rs Daily Closing Basis.
NSE:AWLLong
by KRSCharts
MCX and the EW CountsCMP: 6530 MCX is one of the best stocks I have come across in recent times to study/practise EW counts. Such a wonderful set up with multiple sub-divisions playing out perfectly. The chart published here is the 5 wave impulse from 2917 levels. We are at the final 5th and this can either extend or terminate anytime depends on the market conditions. Since the 5th has gone past the 3rd wave high, technically, we can mark the 5 wave has ended here. The possible extension targets are marked in blue dotted lines. Breakout of the falling trendline of the recent fall from 7050 would give us confirmation If it breaks the 2-4 trendline (RED), then can safely assume that the uptrend has ended on this impulse. Here is the chart on weekly TF Here is the larger TF count for positional investment view I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
NSE:MCX
by Murthy_Santhosh
1
Bitcoin 93900-92500 support area,98000,100500 upside Target Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
COINBASE:BTCUSDLong
by JaiPrakashShuklaHarmonicTrader
Natural gas went up after Trump statement,302 break then sell Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:NATURALGAS1!
by JaiPrakashShuklaHarmonicTrader
Crude sell get 100+ points, upside 5990-6020 will come then sellDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:CRUDEOIL1!
by JaiPrakashShuklaHarmonicTrader
Copper we are holding buy trade from 797 upside will continueDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
Silver buy on dip levels on chart read description for trades Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:SILVER1!
by JaiPrakashShuklaHarmonicTrader
BARBEQUE LONGThe Elliott Wave analysis indicates that the stock has finished waves (i) and is nearing the end of waves (ii), which are shown by blue numbers on the daily chart. Wave (i), also known as the impulse wave, unfolded into five waves in red colour. Wave (ii), also known as the corrective wave, unfolded in an a-b-c pattern, as indicated in red. Wave (iii) will begin following the completion of wave (ii). Wave (iii) is expected to have around five subdivisions, which are highlighted in red. Wave levels are depicted on the chart. Level of Invalidation The invalidation level of 461.05 has been identified as the starting point for wave (i). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears. I'm not a registered Sebi analyst. My research is done solely for academic purposes. Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses. Regards, Dr Vineet
NSE:BARBEQUELong
by drvineet
Islver buy on dip upmove will continue read description for tradDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAGUSD
by JaiPrakashShuklaHarmonicTrader
Gold MCX buy on dip until recent low not break Target on chartDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
MCX:GOLD1!
by JaiPrakashShuklaHarmonicTrader
XAUUSD will go up 2600 support,2638,2655 upside Target Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
OANDA:XAUUSD
by JaiPrakashShuklaHarmonicTrader
Banknifty sell on rise 51500 not break, trend still sell on risDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks Trailing SL (SL 27.2 % )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6%) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BANKNIFTYShort
by JaiPrakashShuklaHarmonicTrader
#Nifty directions and levels for December 23rd.Good morning, friends! 🌞 Here are the market directions and levels for December 23rd. Market Overview: The global market is showing a moderately bearish sentiment due to the solid pullback in the previous session (based on the Dow Jones). Meanwhile, our local market is displaying a bearish trend. Today, the market may open with a gap-up start, as the Gift Nifty indicates a 170-point positive sentiment. In the previous session, the US market had a strong pullback, which might reflect in our market today. Gift Nifty is also pointing toward this possibility. So, how should we approach this? If the gap-up sustains, we could interpret this as a sub-wave 4. Usually, the 4th wave is characterized by a three-wave structure, which we refer to as a consolidation wave. Therefore, we can expect some consolidation between the previous low and the 38% mark. This is the basic structure; let's look at it on the chart. Both Nifty and Bank Nifty are currently showing the same structural sentiment. Current View: The current view suggests that if the market opens with a gap-up of less than 100 points and then declines initially, we can expect a slight further correction due to some sub-waves bending. However, if this occurs, the minor demand zone will act as strong support. Alternate View: The alternate view suggests that if the gap-up opens with more than 150 points and sustains, then the pullback could continue to the 38% level, with some consolidation as we discussed. This pullback could be interpreted as a 4th wave.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for December 23rd.Current View: The current view suggests that if the market opens with a gap-up of less than 200 points and then declines initially, we can expect a slight further correction due to some sub-waves bending. However, if this occurs, the minor demand zone will act as strong support. Alternate View: The alternate view suggests that if the gap-up opens with more than 300 points and sustains, then the pullback could continue to the 38% level, with some consolidation as we discussed. This pullback could be interpreted as a 4th wave.
NSE:BANKNIFTY
by Manickamtraders
EURUSD Next possible move SAXO:EURUSD Here’s a detailed description for today’s bullish outlook in EUR/USD: --- ### **Title** *"EUR/USD Intraday Analysis: Buy Momentum Resurfaces | Dollar Eases Slightly"* #### **Market Context** *"EUR/USD attempts a recovery as the U.S. dollar faces mild profit-taking after recent strength. Optimism in Eurozone sentiment and a pullback in Treasury yields support the pair’s upside bias."* #### **Technical Analysis** *"Today's buy momentum is highlighted by these signals: - **Trend Structure**: Formation of a higher low indicates potential reversal. - **EMA Dynamics**: Price has reclaimed the 20 EMA, suggesting a shift in short-term momentum. - **RSI**: Rising above 50, signaling increasing bullish strength. - **MACD**: Positive histogram bars are emerging, indicating bullish momentum is building. Key Levels: - **Support**: 1.0550 (intraday), 1.0525 (critical level). - **Resistance**: 1.0580 (initial target), 1.0605 (key psychological level). A sustained move above 1.0605 would confirm further upside."* #### **News Context** *"Upcoming: Eurozone retail sales data could influence intraday sentiment. Previous: Weaker-than-expected U.S. data provided temporary relief for the euro, aiding recovery attempts."* #### **Call to Action** *"Will EUR/USD sustain its bullish momentum, or will sellers return at higher levels? Share your analysis and trade setups below!"* --- Let me know if you’d like any modifications!
Long
by RBSBALA
Lupin Stock Analysis: Strong Fundamentals & Bullish setup.FUNDAMENTALS & TECHNICAL ANALYSIS ⬇️⬇️ Fundamental Analysis: 1. Earnings per Share (EPS): • Q3 2024 EPS estimate is 17.29 INR, and the reported values for the prior quarters (Q4 ’23, Q1 ’24, Q2 ’24) have consistently beaten estimates with surprises ranging from 11.08% to 41.55%. • This indicates strong financial performance and the company’s ability to exceed market expectations. 2. Revenue: • Reported revenue for Q1 ’24 and Q2 ’24 surpassed estimates with 5.37% and 2.38% surprises, respectively. • The company is expected to generate 56.45B INR in revenue for Q3 ’24. This suggests consistent growth, which is a positive indicator for long-term investors. 3. Conclusion from Fundamentals: • Strong EPS growth and consistent revenue beats show that the company is performing well financially. • With upcoming reports due in February 2025, further positive earnings surprises could lead to upward momentum. Technical Analysis 1. Current Price Action: • The stock is trading near 2,140 INR, approaching key fair value gaps (FVG) at 2,150 INR (1D FVG) and 2,273.45 INR (higher target zone). 2. Support & Resistance: • Major support zone is near 1,985.90 INR (Daily Low). • Resistance zones lie at 2,218.30 INR, 2,273.45 INR, and the Daily High of 2,313.20 INR. 3. Market Structure: • There is a change of character (Choch) on the chart, suggesting potential bullishness if it sustains above 2,150 INR. • The stock may consolidate slightly before moving towards the higher resistance zones. 4. Short-term Prediction: • Likely to test 2,273.45 INR in the near term if the bullish structure holds. • A break below 1,985.90 INR would invalidate the bullish setup. Conclusion: • Investment Decision: • Buy: Based on strong fundamentals (earnings and revenue growth) and a bullish technical structure, the stock looks promising for swing trading or medium-term investing. • Entry Point: Around 2,140-2,150 INR, aligning with the technical FVG and support zones. • Target: 2,273.45 INR (short-term) and 2,313.20 INR (medium-term). • Stop Loss: Below 1,985.90 INR to manage risk in case the bullish structure fails. DISCLAIMER ▶️ THIS IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE DO YOUR OWN RESEARCH BEFORE INVESTING
NSE:LUPINLong
by Trade_lyst
LTF - DEEP CRAB - 115-120 on the cardsThe confluence zone is 115-120 levels - Rising Trendline - Breakout Retest (Horizontal) - Fib retracement level of 0.5 to 0.618% - Deep Crab pattern completion target range As long as 113 is not breached, Price could take support beween 115-120 and resume the uptrend. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
NSE:LTF
by Murthy_Santhosh