Wave Analysis
State Bank of India for 40% gainsDate: 4 Nov’24
Symbol: SBIN
Timeframe: Weekly
SBI seems to be in Wave IV of 3 which could likely come down towards 750-740 levels. As seen in the chart, Wave V of 3 could then move up towards 1050 (~40% from where Wave IV ends).
Banks have been largely consolidating in this market fall and could lead the next rally up. Please note nothing in the market is a given. Be very watchful.
This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong.
HINGLISH VERSION
Aisa lagta hai ki SBI 3 ki Wave IV mein hai jo lagbhag 750-740 ke star par samaapt ho sakti hai. Jaisa ki chart mein dikh raha hai, 3 ki Wave V phir 1050 ki taraf badh sakti hai (jahaan Wave IV samaapt hoti hai vahaan se ~40%).
Bazaar ki is giraavat mein Banking shares bade paimaane par majaboot hi rahe hain aur agli teji ka netritva kar sakte hain. Kripya dhyaan den ki bazaar mein kuch bhi pakka nahin hota. Hamesha satark rahein.
Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karen. Aur mujhe galat hone ka adhikaar hai.
VAIBHAV GLOBAL - POSITIONAL SWING TRADE IDEASymbol - VAIBHAVGBL
Vaibhav Global Limited, through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewelry, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK.
This stock has made a consolidation base already & currently trading at a good support area. I'm expecting this to go into advancing phase soon. Hence I'm buying this at CMP 322 with SL 250 for 510 - 600 - 710 targets.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
INFOSYS - POSITIONAL TRADE WITH VERY GOOD R:RSymbol - INFY
INFY is currently trading at 1942 & approaching ATH resistance zone.
I'm seeing a trading opportunity on sell side.
Shorting INFY Futures at CMP 1942
I will be adding more position if 1980 comes & will hold with SL 2025
Targets I'm expecting are 1780 - 1700 - 1580
P.S. : INFY is approaching ATH resistance zone after a long time. ATH resistances are usually hard to break in one go. To break this resistance, INFY must spend some time here (2-3 weeks) before breaking out. Only then we will see more price growth towards the upside. As of know, given modestly high valuations of INFY & overall market, The setup looks more towards negative side & It is highly likely that the price will take resistance from here & change its course to south. I've shorted far month futures already.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Banknifty directions and levels for November 4th.Bank Nifty View:
> Bank Nifty also exhibits a similar range-bound structure. If the market pulls back initially, we can expect it to reach a minimum of 78% of the swing high for the range-bound targets.
> On the other hand, if the market declines initially, it could reach a minimum level between 61% to 78% on the downside.
Nifty directions and levels for November 4th.Good morning, friends! 🌞 Here are the market directions and levels for November 4th.
Market Overview:
In the short term, both global and local markets are showing moderately bearish sentiment. However, today the Nifty is indicating a neutral start.
In the previous session, both Nifty and Bank Nifty closed with slight positive gains due to the Muhurat trading. However, the overall structure suggests that there is a clear range-bound market. Therefore, the market may continue to trade within this range today. We can analyze this further by looking at the charts.
Nifty Bullish View:
From a bullish perspective, if the market experiences a pullback initially, we can expect a continuation of that pullback, reaching a minimum of 78% of the previous high. This is a usual target for range-bound markets. Additionally, if the market consolidates around the 78% level, the breakout continuation could be significant.
Nifty Bearish View:
The bearish view suggests that if the market declines initially, it could reach a minimum of the minor demand zone or the Fibonacci level of 23% if it breaks below 24,214.
NIFTY50: INSTITUTIONAL LEVELS FOR 04/11/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
BANKNIFTY: INSTITUTIONAL LEVELS FOR 04/11/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
A good zone to buyTitan CMP 3293
I had given a buy at this zone previously. The stock is back to the same zone and is again a good buy. Trendlines act as the timing tool. The stock is at its trendline support along with RSI at its bull zone. In my view its a very good buy here.
BANKBARODA: Elliott Wave Analysis & Trendline BreakoutTechnical Analysis of BANKBARODA
Elliott Wave Analysis and Resistance Trendline Breakout
The Chart of the BANKBARODA stock displays an interesting Elliott wave pattern, suggesting a potential bullish scenario. Let's break down the analysis:
Elliott Wave Pattern:
Completed Wave ((4)): The chart seems to have completed a corrective wave ((4)), which took the form of a correction (A) (B) & (C) in blue, inside wave (C) we have witnessed wave 1,2,3,4 & 5 in Red had completed.
Potential Wave 5: The breakout above the resistance trendline suggests the initiation of wave 5, which is expected to be an impulsive move to the upside, possibly towards 300 & 316 or more.
Supporting Divergences:
Bullish Divergence on RSI: The Relative Strength Index (RSI) shows a higher low while the price formed a lower low. This divergence indicates a potential bullish reversal and supports the idea of a rising wave 5.
Potential Upside:
Target for Wave 5: The extent of wave 5 is often unpredictable, but based on standard Elliott Wave principles, it could potentially reach the 1.236 extension of wave 4, This level could be a significant upside target near 316.
Invalidation Level:
229: If the price retraces below the 229 level, it would invalidate the current bullish scenario and suggest a potential continuation of the downtrend at least counts have to change.
Key Takeaways:
The breakout above the resistance trendline and the bullish divergence on the RSI suggest a potential bullish trend for the BANKBARODA stock.
Wave 5 could lead to a significant upside move, potentially reaching the 1.236 extension of wave 4.
However, a break below the 229 level would invalidate the bullish scenario.
Important Note:
Elliott Wave analysis is a complex and subjective technique. It's crucial to remember that there is always a risk of being wrong.
This analysis should not be considered as financial advice. It's essential to conduct your own research or consult with a financial advisor before making any investment decisions.
The information provided in this analysis is for educational purposes only and does not constitute financial advice. The author and the platform are not responsible for any losses or damages arising from the use of this information.
Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Elliott Wave Triangle: The Black 2024 Effect Elliott Wave Triangle: The Black 2024 Effect – The Calm Before the Breakout
The Endless Loop of Black (2024) Movie and BankNifty
In Black (2024 ), a couple is trapped in a never-ending time loop, going over the same path again and again. The BankNifty Index seems to follow a similar pattern, moving in waves that repeat familiar highs and lows. This strange similarity pulls us in, as both the movie and the market seem to be on a path that’s both puzzling and exciting.
A Powerful Journey Through Time
Black (2024) is more than just a movie—it’s a story about love, destiny, and time’s unbreakable cycles. With powerful direction, the movie takes us on a deep journey, revealing hidden truths with each loop. In the same way, BankNifty’s wave-like patterns give moments of clarity, only to change direction again, much like a never-ending dance in the market.
Could the U.S. Election Be Fueling This Pattern?
BankNifty’s cycle might also reflect the high stakes of the U.S. Presidential Election . With Kamala Harris and Donald Trump neck-and-neck in the race, the market feels the tension of this intense battle. BankNifty is forming an Elliott Wave Triangle – a pattern that traps traders in a similar loop of ups and downs, mirroring the suspense and energy of the election.
Elliott Wave Triangle: The Calm Before the Breakout
The Elliott Wave Triangle pattern is a consolidating formation that shows up when the market is preparing for its next big move. It forms a series of back-and-forth waves, typically in five parts (A-B-C-D-E), creating a narrowing structure like a triangle. This pattern often appears before a strong breakout, either up or down, signaling that traders should be ready for a significant shift in the trend. The Elliott Wave Triangle is like a pause before the market's next direction, building energy before it makes a decisive move.
Caution: Don’t Be Fooled by the Stability
What looks stable may actually be unpredictable. A fall below 50194 (last reached on October 7) could spark a quick drop towards 49500-49600 . If BankNifty slips below 49500 , it could fall even further, aiming for 47800-48000 .
Short Term Wave Structure
Short Term Support Zone for Wave-D to Halt & Take Support is 51000-50800 - Getting Support could make it bounce upside towards falling trendline connecting Wave A & Wave-C which might bring end to Wave-E , Once wave-E gets completed …Larger trend & more violent wave will start.
Alternate Wave Path - A-B-C-D1-E1
If gap is breached below 50800..Index can drop to 50500-50600 zone as support zone & follow wave path D1 & later E1
The Black Loop in BankNifty: Are You Ready?
Just like the thrilling loops in Black , these market waves might seem familiar yet hide surprises at every turn. Market Whispers, can you hear them? The Black Loop in BankNifty captures both the thrill of the U.S. election and the mystery of Elliott Wave patterns. As both the story and the market cycles unfold, only those who are ready can avoid getting stuck in the loop.
#elliottwavetriangle #black2024 #correctivestructure #wavetalks #correctivewaves #trianglebreakout
Regards,
WaveTalks
Abhishek
Sharda Motor for 80% jump after correctionSharda Motor Industries on daily chart seems to be in Wave IV that began on 9th July’24 and likely to come down to 2000-2050 levels as seen in the chart. This consolidation can go on for a few months.
Thereafter, the stock shall move up as Wave V (in five smaller waves) towards 3700+ levels (a 80% jump over corrected price), also marked in the chart.
The stock has been a favourite for institutions in recent times.
The above analysis is our view on the stock and in no way a trade recommendation. Please do your own due diligence and analysis. Please share your views through comments.
bank nifty on 04/11/24Bank nifty forming bullish flag pattern inside consolidation zone
bank nifty trading in 51675 now,
1) can give pullback till 51500 level ( fib 50-61%)
if breakout, flag pattern trend line and retest above 51800 , target & resistance - 52000 & 52300
2) if down trend continuous ,
next support level 51300 & 51150 level
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Thyrocare for 70%+ gains after correctionDate: 3 Nov’24
Symbol: THYROCARE
Timeframe: Daily
Apparently, Thyrocare seems to be in Wave III which could conclude around 1000. Post which Wave IV correction could come down to 840-820 levels marked as Demand Zone in the chart. And Wave V then will be heading to 1430 to 1500 levels (70%+ from 830 levels) depending on where Wave IV ends. Its all time high price is 1465.
This is not a trade recommendation. Please do your own analysis.
HINGLISH VERSION
Jaahir taur par, Thyrocare Wave III mein lagta hai jo 1000 ke aaspaas samaapt ho sakta hai. Jiske baad Wave IV chart mein Demand Zone ke roop mein ankit 840-820 ke star tak neeche aa sakta hai. Aur Wave V tab 1430 se 1500 ke star (830 ke star se 70%+) ki taraf badh jaega, yah is baat par nirbhar karega ki Wave IV kahaan samaapt hota hai. Thyrocare ki all time high keemat 1465 hai.
Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karein.
Wave Confirmation = Strong BuyHere’s my analysis on Jubilant, RSI and Stochastic indicators are signaling a strong buy, with a clear flag breakout and a healthy 30% retracement. The chart highlights the target areas. Please remember, this is shared solely for educational purposes in technical analysis. Thanks for checking it out, and follow me for more insights!
Weekly Timeframe : MACD - RSI - Stoch = Strong buy
Daily - RSI & Stoch = Strong Buy
Candle - Bullish Candle
Volume - Above Average
EMA - Positive Crossover
Chart Pattern - Flag & Pole BO
FIB Retracement - 30%
Divergence - N/A
This is not a trade signal or call. I’m sharing my technical analysis purely for educational purposes, aiming to improve my own skills and to provide insights into technical analysis for anyone interested. Use this information responsibly and make trading decisions at your own discretion
WAVE Confirmation = Strong BuyWeakly Timeframe : MACD - RSI - Stosch = Strong buy
Daily - RSI & Stosch = Strong Buy
Candle - Bullish Candle
Volume - Above Average
EMA - Positive Crossover
Chart Pattern - Cup & handle
FIB Retracement - 50%
Divergence - N/A
100% - 1:3 returns Weekly Timeframe : MACD - RSI - Stosch = Strong buy
Daily - RSI & Stosch = Strong Buy
Candle - Bullish Candle
Volume - Above Average
EMA - Positive Crossover
Chart Pattern - Flag & Pole BO
FIB Retracement - 60%
Divergence - N/A
Notes
Major Resistance (Bull ka Target) 251
Stop Loss Price (SL) 195
Reward / Risk ratio Min. 2
Reward / Risk ratio Max. 3
PSUBANK: Elliott Wave Analysis and Technical BreakoutTechnical Analysis: PSUBANK Index
Elliott Wave Analysis
The chart reveals a potential Elliott Wave structure within the PSUBANK Index. We're currently observing a bullish development within wave 5. This bullish impulse is supported by a clear upward trendline breakout.
Key Points:
Resistance Trendline Breakout: The index has decisively broken above the resistance trendline, suggesting a potential reversal of the previous downtrend.
Bullish Divergence: The presence of a bullish divergence between price and momentum indicators, often signals a potential trend reversal. This divergence adds credence to the bullish outlook.
Wave Structure: The current structure aligns with an impulsive wave pattern, where wave 5 is typically the dynamic move after corrective 4th Elliott Wave sequence.
Potential Scenario
Based on this analysis, we can anticipate a continuation of the bullish trend, potentially leading to the development of wave 5. This could drive the index higher, with the upside potential potentially reaching the 8000-8200 zone.
Trading Implications:
Bullish Bias: Maintain a bullish bias for the PSUBANK Index, given the strong technical signals and potential for further upside.
Entry Points: Consider entering long positions on pullbacks (if any).
Stop-Loss: Place a stop-loss below the 6185 level, which would invalidate the bullish scenario.
Risk Management: Implement proper risk management techniques, such as using stop-loss orders and position sizing, to protect your capital.
This analysis is based on Elliott Wave Theory and technical analysis, which involves multiple possibilities and interpretations. The information provided is for educational purposes only and should not be considered as financial advice. It's crucial to conduct your own research and consult with a financial advisor before making any investment decisions. There is always a risk of being wrong, and users are advised not to trade or invest solely based on this analysis.
Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Long Trade---HDFC farming Cup & handle in daily TimeframeLong trade - Below are the confirmation points
1. Monthly & Weekly : MACD = Buy
2. Daily : RSI and Stochastic = Strong buy
3. Volume = Average
4. EMA = Positive Crossover
5. Chart pattern = Cup & handle
6. FIB = N/a
7. Divergence = Bullish Divergence
If the Cup & handle Breaks out then it will give most consistent returns. Keep watching...
Please do share and Subscribe to my Trading view Account for more Updates.
NIFTYMy view on Nifty as per EW and Fib. We are heading into wave 5 on 15 min with immediate target of 23970. Please refer to the chart which is self explanatory
Deepawali Pick , Investment IdeaOne can Invest in this stock as Long term investment which will give you Good benefit
on your investment , These are stocks which are in the List of Blue chips stocks
Wish You happy Deepawali
Good luck
APOLLOHOSP for 7800 levels?APOLLOHOSP - CMP 7031
Given the way it held the 7K levels in this carnage, it looks like Apollo Hospitals has an unfinished business at the higher levels for 7800-8000 levels
Wave counts and Technical patterns suggests the same
Rounding bottom pattern target is at 7850 levels
Wave 5 regular extension target is also at 7800 levels (from 2022 lows)
elliotwaves study ERIS LIFESCIENCESof the 5 waves corrective wave 3-4 and impulse 4-5 is pending. the final cycle in this stock can be expected to be complete by Jan2029 as it is cyclical in nature. We can confirm as long as wave 4 doesn't cross wave1.
The company is a leading player in the domestic branded formulations market. It is the youngest among the top 20 companies in the Indian Pharmaceutical Market.
The company focuses on branded generics, with 85% in chronic and 15% in acute segments. It offers drugs across various therapies, including anti-diabetes, cardiovascular, dermatology, gastroenterology, gynecology, and anti-infective
