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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
Bandhan Bank -Potential Breakout in Progress (Upside Target-430) I suggested somewhere that market participants should start looking at this stock and hold it in their portfolio with an upside trigger of 265 and a final target of 430, to be reviewed later. No surprise – the stock has started moving from our desired zone of 155-175. What a low 169 . Will it cross 265 and later 430? Only time will tell. Pattern: Falling Wedge (Similar to Adani Wilmar as discussed earlier) Such patterns swiftly move towards its starting point. In this case it is 430 From WaveTalks Abhishek
NSE:BANDHANBNKLong
by WaveTalks
4
Gold’s Fall Halt at 2305-The Choppy Trap-Bullish Bias Gold’s Fall Take A Halt Close To 2305-The Choppy Trap-A Weekly Bullish Bias Gold Price Tracking US Treasury Bond Yields This week, gold prices have closely tracked the movements in US Treasury bond yields. The previous decline in gold prices has paused in 2285-2305 support zone amid a modest weakness in US Treasury bond yields. 18th June 2024 - Running upside for 2358 Target Equity Markets and Indian Elections Global equity markets have extended their rally, gaining momentum particularly from the results of the Indian general election. The election unfolded in favor of the existing government NDA, leading to Prime Minister Narendra Modi securing a third term as declared a clear winner in the General election 2024 which went for more than a month. This political stability has propelled the Indian market index, Nifty, which saw a significant rise from the lows of 21,281 on June 4, 2024, closing the session at 23,562 on June 18, 2024 but saw a knee jerk reaction as it failed to surpass its 400 seat remark made by the existing party fellows. Going forward, A pause and potential correction below the 23,350-23,400 range for Nifty could support a short-term rally in gold prices. Technical Analysis of Gold Yellow Metal has been doing sideways since its all time of 2453.7 USD as of 20th May 2024. Support Zones Technically, gold has a strong support zone between 2,285 and 2,300, which has been acting as a bounce pad for the yellow metal. Harmonic Bullish Pattern An unfolding harmonic bullish Gartley pattern, has been observed close from the support zone of 2285-2305 zone. Gold prices have reached a few upside targets for the harmonic pattern, encountering resistance at the 200 EMA (Exponential Moving Average) based on a 2-hour calculation at 2,345. This level is crucial for further movements. Wave Analysis Yellow metal could be doing a choppy sideways correction & could unfold as a triangular correction yet to be confirmed & needs further price inputs. since its sideways move from 2448.8 as of 12th April 2024. Trading Strategies Plan A Trigger: Faces resistance in the 2,395-2,405 USD zone Target: Potential drop to the 2,345-2,355 USD zone for a short-term correction Getting resistance in 2395-2405 - Harmonic Bat Pattern will become active for targets suggested in Plan A Plan B Long-Term View: Trigger: Crosses above 2,405 USD, a critical level Target: Push towards the all-time high (ATH) of 2,450 USD Conclusion Gold's price movements are intricately linked with US Treasury bond yields and global market dynamics, including political developments. Investors should watch the key technical levels for India Nifty, getting a pause for equity indices could boost the upside potential of yellow metal in next few sessions and should employ appropriate trading strategies as discussed to capitalize on potential market movements. The trading strategies suggested above offer a structured approach to navigating gold's price action in the current market environment.
COMEX:GC1!Long
by WaveTalks
3
Don't Miss This Stock: Reliance's Bright Future- Elliott Wave 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? --------------------------------------------------------------------------------------------- Stock Overview: Since January 1996, Reliance stock started an impulsive rise from ₹12.95, unfolding a series of 1-2, 1-2 waves. Currently, Primary Wave ③ (blue) is in progress and has a long way to go. This wave is subdivided into green bracket waves (1), (2), (3), and (4), with wave (4) forming a triangle. Now, we are in bracket wave (5) (green). Current Wave Structure: Wave (5) (green) is subdividing into Yellow waves: Yellow Wave 1 completed at 3024.90 Yellow Wave 2 (one leg could be completed or complete wave 2 could be ended at ₹2718 on June 4th, post-election results) Upcoming Targets: Wave 2 completion is confirmed once Reliance surpasses ₹3050. Targets are: ₹3500 ₹4025 (162% of Yellow Wave 1, which peaked at ₹3024.90) Why Add Reliance to Your Portfolio: Stock bounced sharp upside from 2718 lows = 200 DEMA (White line) Potential to hit new highs. Expected to reach ₹4000 and later ₹5000 in the coming months and years. Conclusion: Reliance shows strong upward potential. Including this stock in your portfolio could yield significant returns. Let’s review the progress in a few months. Have a great Sunday! Visual Summary of Waves: 1. Primary Wave ③(blue) unfolding 2. Bracket wave (5) (green) in progress 3. Yellow Wave 1 completed at 3024.90 highs 4. Yellow Wave 2 completed at ₹2718 ( alternate -only one part in wave 2 completed at lows of 2718 & wave 2 can be confirm complete once it crosses above 3050 highs) Key Levels: Break above ₹3050 confirms next targets Targets: ₹3500, ₹4025, ₹5000 Plan accordingly and stay tuned for updates. --------------------------------------------------------------------------------------------- From WaveTalks Abhishek
NSE:RELIANCELong
by WaveTalks
4
Nifty X-Wave Volatility: Potential Wipeout of Recent RallyDisclaimer: 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? --------------------------------------------------------------------------------------------- Overview: The Nifty Index is currently forming a complex WXY wave pattern on a higher degree wave. With Wave W and X completed, we are now anticipating a decline towards the psychological support levels. Key Levels and Targets: Initial Support Zone: 21950 - 22000 This zone is expected to provide psychological support. If the index holds below 22900 in opening session on 7th June 2024 and begins to fall, we anticipate an initial drop to this support zone 21950-22000, marking a fall of approximately 900-1000 points. Further Downside: Below 21900 If the index breaks below 21900, we could see a continuation of the fall towards the previous lows around 21281, observed on 4th June. Recent Rally: Rally Overview: The index recently rallied 1629 points from the low of 21281 on 4th June 2024 to higher levels of 22910 within the last 2-3 days. Correction Expectation: This rally may be wiped out as part of the corrective sequence, leading to a possible retest of lower levels before any further upside movement. Upside Potential: New Highs Target: Above 23338 After the corrective phase, we expect the index to resume its upward trajectory, potentially reaching new highs above 23338 as discussed in the last idea Last Idea - Nifty - Pre Exit Poll Outlook: Bulls Above 22,400 Trading Plan: Monitor Resistance: Keep a close watch on the 22900 level. As long as the index remains below this level, a bearish outlook is maintained. Initial Short Position: Consider initiating short positions if the index holds below 22900, targeting the 21950 - 22000 support zone. Break Below 21900: If the index breaks below 21900, further short positions can be considered, aiming for a retest of the 21281 level and even new lows are possible Reversal Signs: Look for reversal signs and bullish setups near the 21281 level to position for the next potential rally towards new highs above 23338. Conclusion: The Nifty Index is poised for a significant correction before resuming its upward trend. Traders should be prepared for volatility and closely monitor key levels for optimal entry and exit points. ----------------------------------------------------------------------------------------------- From WaveTalks Abhishek
NSE:NIFTYShort
by WaveTalks
24
Nifty - Pre Exit Poll Outlook: Bulls Above 22,400 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? ----------------------------------------------------------------------------------------------- Key Levels to Watch: - Immediate Resistance: 23,000 What Unfolded Last Week: The index retraced 600 points, making a low of 22,417 as expected pause below 23000 in the last idea. Last Idea - Nifty Explosive (Part 3): From 22,000 to 23,000 in Record Time! Future Expectations: If Nifty surpasses the 23,000 mark, it will confirm that the bulls are in charge, reflecting the market optimism seen since early 2014. Nifty has strong support in the 22,400-22,500 zone. Holding above this zone, we expect an upward move towards the 22,775-22,825 target zone. If it holds above 22,825, it can target 23,000. Beyond 23,000, bulls will take charge, potentially driving the index to 23,500 and later 24,500. Note: Strictly no trades below 22,400. From WaveTalks Abhishek
Editors' picks
NSE:NIFTY
by WaveTalks
17
Nifty Explosive (Part 3): From 22,000 to 23,000 in Record Time! 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? ----------------------------------------------------------------------------------------------- Nifty Index Outlook - May 24, 2024 Overview In our last analysis, we emphasized the importance of having both a primary plan (Plan A) and an alternative plan (Plan B). This approach prepares us for achieving similar outcomes through different routes. If Plan A fails, we quickly switch to Plan B. A strong alignment between both plans often predicts significant market movements. Recent Market Movements In our last discussion on the Nifty Index in the "Nifty: Explosive Part 2 - Towards 23,000+" series, we predicted a rally if the Nifty crossed the 22,000 mark. Indeed, Nifty surged nearly 1,000 points in just 10 days, closely aligning with our predictions and nearly touching the 23,000 mark. Last Idea - Nifty : Explosive Part 2 - Towards 23000+ Current Market Outlook Key Levels to Watch: - Immediate Resistance: 23,000 If Nifty surpasses the 23,000 mark, it will confirm that the bulls are in charge, echoing the market optimism that began in early 2014, a period that marked a significant turning point after years of struggle. Future Expectations Looking ahead, the next crucial juncture is whether Nifty can sustain its momentum above the 23,000 level or if it will face resistance. Surpassing 23,000 would be an extremely powerful signal, indicating readiness for a significant breakthrough before the 2024 General Election results are announced. Facing resistance below 23000 mark, a pause & bulls come back before election results are out on 4th June 2024. Conclusion The Nifty Index's performance has closely aligned with our previous analyses, demonstrating strong potential to surpass the 23,000 level. As the market approaches this critical threshold, our dual-plan strategy continues to guide our expectations and strategic decisions, ensuring we're well-prepared for various market scenarios. From WaveTalks Abhishek
Editors' picks
NSE:NIFTY
by WaveTalks
4
Bhel- Traders Trap at 275 on 4th March 2024 ( Wave Story)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 Elliott Wave Analysis Insight January 30, 2024: 230's to 240's At the start of the year, BHEL's stock was trading between the 230's and 240's. Investors were cautioned about limited upside potential, especially below the 235 mark. It was predicted that the stock might regress towards the crucial level of 200. Last Published on 30th Jan 2024 February 13, 2024: Lows of 200 True to the caution, on February 13, 2024, the stock descended to the lows of 200, sparking concerns among investors. However, BHEL managed to maintain its position above 200, offering hope for a potential recovery. A note of caution lingered - any decline below 200 could lead to a deeper plunge towards 165 & 113-120 support zone. End of February 2024: Triangular Correction Completed By the end of February, BHEL completed a triangular correction in its ongoing wave sequence. Despite this, caution prevailed as it was observed that Wave-E was truncated, setting the stage for a sharp rally. March 4, 2024: Surge to 275.85 On March 4, 2024, BHEL's stock surged to 275.85, trapping traders on upside. However, the warning remained clear - maintaining above 200 it can push upside in 225-240's, while breaching 200 spelled trouble, leading to a slip towards 165 and the critical support zone of 113-120. Post-March 5, 2024: Decline towards 206 Post-March 5, 2024, the stock experienced a decline towards 206, approaching the key support level of 200 in a an impulsive manner. The familiar tale repeated itself - maintaining above 200 hinted at a potential upswing towards 225-240's, repeating same thing again & again. while breaching 200 will trouble, leading to a slip towards 165 and the critical support zone of 113-120. And so, the tale of BHEL continued, with its fluctuations and uncertainties. From WaveTalks (Market Whispers!, Can you hear them) Abhishek Wishing you a Happy Holi-day! 🎉
Editors' picks
NSE:BHEL
by WaveTalks
3
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
Comex Copper = Explosive Nifty to Unfold in 2024 ?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? ----------------------------------------------------------------------------------------------- Copper Outlook --------------------------- 1. Setting the Stage for Explosive Moves: - Copper is recognized as a barometer of economic growth, and its performance can provide insights into broader market movements. - In January 2023, I predicted copper would see explosive growth in 2023-2024. This was confirmed in November 2023 when the corrective wave 2 completed in a truncated wedge pattern, providing a strong foundation for significant gains. Comex Copper in Nov 2023 ( Explosive Wave to Unfold Next?) --------------------------------------------------------------------------- 2. Rising Demand: - Copper cathode demand reached 598,000 tonnes (81.2% of the previous year's total) by November 2023. - Imports of copper cathode, scrap, and wire rods soared by 174%, 56%, and 13% year-on-year, respectively. - This robust demand hints at double-digit growth in FY24. The Indian government's focus on infrastructure, clean energy, and consumer spending is expected to sustain this growth. 3. Production Challenges and Future Solutions: - India's smelting capacity was halved due to facility closures, turning the nation from a net exporter to a significant importer. - The upcoming Adani smelter (5 lakh tonnes capacity) and potential reopening of the Sterlite smelter in 2024 could help India reclaim its status as a net copper exporter. Nifty / BankNifty Outlook ------------------------------------- 1. Explosive Moves Expected: - The Nifty index started forming a well know rising pattern around the 18,800-19,000 zone in October to November 2023, suggesting a significant move ahead. This famous pattern was rising wedge. - This pattern was debated on WaveTalks as either an ending or leading diagonal, offering different implications for future market moves. 2. Elliott Wave Analysis Insights: - Applying Elliott Wave Analysis gave clarity to potential market paths, allowing for strategic decisions at tops and bottoms. - As patterns unfolded as expected for Copper, the market outlook became increasingly clear for equities as Copper is a barometer of economic growth. 3. Conclusion: - The Indian equity markets, particularly Nifty and BankNifty, appear set for more explosive moves. - Time will reveal how far the markets can go, but the whispers of the market suggest significant growth ahead. Signing off from WaveTalks: Market Whispers! Can you hear them? From WaveTalks Abhishek
Editors' picks
COMEX:HG1!Long
by WaveTalks
18
ONGC -Turning Upside Down (Picked 60 for 200 / 300)- Careful!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? April 2024 Stock reached close to 300 & completed all its target as expected in 2020 . Time to be careful ? Why ? Close to Resistance of 314 . Unfolding Bearish Bat with PRZ 88.6% classic zone 300-275 . Stock topped at 287 Stop loss Pattern invalidates above 287 . June 2020 Video Idea ( Short Term Sell & Long Term Pick holding 55-60 for 200+ & 300+) Dec 2020 Follow up - Did you pick this stock for your portfolio Nov 2021 Reaching close to 210 Target
NSE:ONGCShort
by WaveTalks
3
Auropharma Trap - Catching The E-wave 1135 to 1105 🎯 🎯🎯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? 🏆🏆🏆 Applying Wave Analysis in Real Time & Making the Patterns Fit can lead to amazing trades, and we're here to celebrate as we've successfully reeled in the E-wave fish into our nets. Hope you enjoyed the fall from 1135 to 1105 on April 10, 2024. What's next? If the stock holds above 1095, then it can surge upwards in Friday's session and reach the upside targets of 1135 / 1150-1160 zone, as updated via the 6:44 am comment on the last Auropharma idea. Last Idea Published From WaveTalks Abhishek
Editors' picks
NSE:AUROPHARMALong
by WaveTalks
2
Auropharma - Classic Alternate Bearish Bat at 1131 (Sell)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. Auropharma Last - 1106 / 1:14 pm / 1st April 2024 After Classic 5 Waves & Stock Topped at 1177 - Last Idea Published on 1st Feb 2024 Stock Dropped to logical support of 958.50 - Minor Support from the tops of 1177 as identified last. It dropped to 958.50 lows in next few days. Currently, Stock Doing Sideways Once bottom was made at 958.50. We have a classic alternate bat with PRZ 1125-1135 zone & stock topped at 1131 -1st April 2024 as of today. Trading Strategy Stock Holding below 1125-1135 -Potential Reversal Zone - can slip to 1050-1075 support zone downside next. From WaveTalks Abhishek
NSE:AUROPHARMAShort
by WaveTalks
10
EURUSD Fall - Classic Equality Count in Play | C = A WaveDisclaimer: 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 13th Jan 2024 - B: Wave completed at the tops of 1.11393 Long Term Outlook From its low at 0.95358, we're seeing a leading diagonal wave signaling a potential long-term uptrend. As previously discussed, big gains might be ahead. Once short term completes & the base is formed as discussed in short term analysis, EURUSD will move into next sequence of wonder to behold waves which is Wave 3. Let us wait & have patience for magic to unfold. Short Term Outlook It's building a base, possibly dipping to 1.02-1.04, a 50-61.8% retracement from the 0.95358 low to the 1.12757 high in July 2023. Wave C = Wave A falls to 1.03118 falls in the projected zone suggesting a stronger possibility for Wave-C ending in the box zone 1.02 to 1.04 as discussed earlier From WaveTalks (Market Whispers!, Can you hear them) Abhishek
by WaveTalks
4
BHEL - Elliott Wave Analysis Application : Expanding Wedge 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? Elliott Wave Analysis Insight BHEL's stock movement is currently showcasing an expanding wedge or ending diagonal pattern, often seen in the final phases of a trend, such as the fifth wave or wave -C in Elliott Wave Analysis. This pattern indicates we're possibly at a critical juncture. Today's High and Implications Today, BHEL hit a peak at 234.45, a significant level under Elliott Wave Analysis. This point is crucial because it tests the cardinal rule that Wave 3 must not be the shortest, and Wave 3 should be equal to or greater than either Wave 1 or Wave 5. In current BHEL's case, Wave 1 surpasses Wave 3, creating a unique situation. The stock's movement above 234.45 or 235 could mean Wave 5 will also exceed Wave 3, violating the cardinal rule of Elliott wave analysis, which is not allowed. Technical Indicators and Outlook The RSI shows a negative divergence, indicating the recent rise to 234/235 might not have strong momentum behind it. This divergence suggests caution. What's Next for BHEL? If BHEL remains below the 235 resistance, we might see a retracement to 200, a key support level. A fall below 200 could lead to a further drop to 165.80, which would be critical to watch. Conclusion BHEL's stock is at a pivotal point, with Elliott Wave Analysis providing a unique lens to anticipate future movements. While the resistance at 235 is vital, the underlying momentum indicators suggest a potential pullback. Investors and analysts should keep a close eye on these levels for future direction. WaveTalks... Market Whispers... Can you hear them?
NSE:BHELShort
by WaveTalks
5
Bank Nifty - Up, Up & Away ( 1000+ points) -Move RepeatsDisclaimer: 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? Bank Nifty went up again, just like before, this time 1000+ points today 31st Jan 2024. It went down a bit first to 45071, retracing 50% of 44429 to 45660 upside move as expected & gave second buying opportunity & then shot upside holding true to our expectation. Now, it's close to hitting a target of 46500, reaching 46132 so far at the moment. 25th Jan 2024 Bank Nifty jumped big after a wedge pattern unfolded at the bottoms of 44429 lows. We thought it might go up to reach 46500, and it already went up 1231 points on both days combined 25th & 29th Jan 2024. Last Idea - Bank Nifty-Post Wedge Crack from 45500-600 - 2nd Buying Opportunity? What We expected Next? For those looking to buy, think about doing so if it goes above 45700 or if it drops a bit from its rise from 44429 to 45660. 31st Jan 2024 Banknifty retraced 50% of the 44429 to 45660 to the opening lows of 45071 & Boom upside 1000+ points today 31st Jan 2024. 44429 lows was critical low If Bank Nifty goes below 44429, then the expectation of it going up might not hold, and it could drop more & new lows can be expected immediately when the idea was published. BankNifty Bulls The goal is still to reach above 46500+ especially if it stays above 45660 which now becomes our support & earlier 45660 acted as resistance. From WaveTalks Market Whispers: Can you hear them?
NSE:BANKNIFTYLong
by WaveTalks
8
Auropharma - What A Top !!! A Classic 5 Waves Complete at 1177 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? In Feb 2023, I shared an idea about Auropharma when it was trading in the 450s, predicting it would cross 1000+. The stock began its journey at the channel bottom and has now completed it at the channel top, recently surpassing 1000 and hitting a high of 1177. This marks the completion of a classic 5-wave impulsive sequence. Currently, the stock has retraced by 6.73%, trading at 1073. What a journey from bottom to top! This classic 5-wave pattern for Auropharma suggests a potential retracement could be next. 18th Nov 2023 27th Feb 2023 From WaveTalks Market Whispers! - Can you hear them?
NSE:AUROPHARMAShort
by WaveTalks
4
Avanti Feeds - Did we top in the Triangle at 599 Highs. Careful!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? Initial Rise (2010-2017): The stock had a significant rise from a price of 1.40 in June 2010 to a peak of 940 in 2017, marking a seven-year bullish impulse phase. Sideways Correction (Post-2017): After reaching its peak, the stock entered a complex sideways correction phase, identified as a WXY pattern. This suggests a period of consolidation and uncertainty. Recent Developments (Wave-X as a Triangle): The Wave-X within this correction unfolded as a triangle pattern and topped at 598.50, indicating a temporary peak within this corrective phase. Resistance Levels: Key resistance levels are identified at 598.50 and 770. The stock's performance below these levels could indicate bearish pressure. Support Levels and Potential Drop: If the stock remains below the resistance zone (598.50 & 770), it could drop to a key support level at 386. A breach below this could lead to a critical support level at 321 (Wave-D). If these supports are broken, the stock might target the 160-175 zone, completing the corrective phase that started after the 2017 high. This correction could be just first set of correction & to be reviewed later as we get more price information. Ichimoku Cloud Indicator: The price getting rejected close to Ichimoku Cloud & breaching key support levels while under resistance could be an early warning sign for a potential drop to the 160-175 support zone. Target Zone 160-175: The target zone of 160-175 for Avantifeeds is significant because it's where Wave-Y is expected to travel 61.8% of the distance of Wave-W as one of the measurements, commonly used under Elliott Wave analysis. In summary, the Elliott Wave analysis indicates that Avantifeeds is currently in a complex corrective phase following a significant bullish run for 7 years from 2010 to 2017. Key resistance and support levels have been identified, with potential downside targets if these levels are breached. The Ichimoku Cloud provides additional confirmation of these bearish signals. Investors and traders should closely monitor these levels for potential trading opportunities or to adjust their positions accordingly. From WaveTalks Market Whispers!
NSE:AVANTIFEEDShort
by WaveTalks
7
IREDA - Wave 3 Tops at 156 (Expected 155 ) Next Wave-4 Triangle 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? Holding Above 144 , Stock could push upside towards 165-175 target zone & complete one of its minor degree waves upside which started from the recent lows of 103 as discussed in the connecting ideas for the stock. It is amazing to see how stock halted exactly 162% travelling wave 3 distance as shown in the previous idea. What Next? Currently post completing wave 3 upside, stock started doing sideways this morning & the best possible structure to unfold in wave 4 is a triangle. Critical level 144 to hold as support Next Target zone 165-175 Last Ireda Idea - Wave 3 - Up, Up & Away IREDA - Debut Idea
NSE:IREDALong
by WaveTalks
Bank Nifty-Post Wedge Crack from 45500-600 - Buying Opportunity?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? As discussed over the HDFC Idea Got an explosive upside move in Bank Nifty & pattern looks to be terminated downside with a falling wedge. Post wedge- Bank Nifty jumped 1231 points appx. As updated recently we were looking for 1500+ points as logical target upside towards 46500+ out of which it rallied 800+ points in the 1st hour of trading today i.e. 29th Jan 2024 Second Buying Opportunity Plan your buying trades above 45700 breach on upside or wait for retracement of the the move 44429 to 45660 as another buying opportunity or strategy. Stoploss View becomes invalidated if Index drops below 44429 lows - In that case, fall may extend downside further & to be reviewed later. Expected Upside Target 46500+ with halt in 45500- 45600 zone as suggested over HDFC Idea this morning, holding above 44429 - recent low From WaveTalks Market Whispers! - Can you hear them?
NSE:BANKNIFTY
by WaveTalks