WaveMoku

WaveMoku

September 2, 2024 Medplus seems to have completed a triple correction and is on the rise. It created a demand zone between Rs 595 and Rs 605 level. The stock retested the demand zone for the second time in the last week of August, and as expected, buyers came and moved the stock up toward the Fib retracement 50% mark. If Medplus holds the 50% level and...

WaveMoku

In our analysis published on July 2, 2024, Axis Bank was trading around Rs 1250. In our analysis we had marked a demand zone for the stock. As we had predicted, the stock came down and dived into the demand zone. At present, it is trading around the demand zone. Check out our analysis to know more about our prediction on Axis Bank. We anticipated the move a...

WaveMoku

In our analysis published on June 24, 2024, we had published our long-term perspective on Marksans Pharma. At that time, the stock was trading around Rs. 162. Here is our previous study on Marksans Pharma published on June 24, 2024 On August 30, 2024, the closing price of Marksans Pharma was Rs. 239.52. The stock has given nearly 47% returns in just...

WaveMoku

Nifty made a high of around 24,867 on Thursday, August 22, 2024. From there on, it went sideways. On the Fibonacci retracement, Nifty is hovering around the 78.6% mark. In the volume bars, we can see Volume Divergence. So, what’s the signal Nifty is sending out? An hourly closing below 24,790 could well take Nifty down by 60 to 100 points to around the 24,680...

WaveMoku

Bank Nifty is trading at big demand zone and and we see significant potential for an upside move for several reasons: Reasons for Going Long in Bank Nifty: 1. Ichimoku Daily Cloud Bottom 2. Ichimoku Weekly KS Support 3. Bullish MACD Divergence on the 1-hour time frame 4. Completing Triple Correction—WXYXZ (considering a truncated scenario; otherwise, BN might...

WaveMoku Updated 

Bank Nifty is in a nice downtrend, and we feel it's forming a "WXYXZ" wave pattern.  Ichimoku Signals: One hour Cloud SSB rejected the price and currently trading below TS KS, indicating the bearish trend will continue and go down for wave Z, and expected destinations are: 127.2% == 49342 161.8% == 48935 Stop Loss = One hour candle above TS KS (50573) should be...

WaveMoku

In our last post on Nifty, we had mentioned that Nifty now seems to be forming an X wave with expected target around 24,350 to 24,450. Nifty made a high of around 24,419 on Friday, August 9, 2024. So, where do we go from here? Nifty has been moving up, and a break above 24,420 should act as a break-out to take it further upside. However, look at the price...

WaveMoku

In our last post on Nifty we had mentioned that Nifty had completed the A-B-C-D-E-F legs of the diametric and was in Wave G, which could be truncated at 38.2% or 50%, and we should watch for price action closely around 38.2% level. That’s how Nifty behaved, with Wave G reversing from 38.2%. The wave post Wave G is always a fast retracement with close below the...

WaveMoku Updated 

Why Short Fin Nifty: Current Market Price: 23879 Fin Nifty has completed its 1-2-3-4-5 subwaves and rejected the 261.8% level (24,027) yesterday. Risky players can short at current price but it has strong support at 23,750. Once this level breaks, the price structure will change, giving us double confirmation as Ichimoku will break both the TS and KS by...

WaveMoku Updated 

We went through the charts, and since 2022, Bank Nifty has been hitting the 127% extension and then correcting 8-10%. People say history repeats itself, and if this is true, we might see a 5000-point fall in Bank Nifty. This analysis is for educational purposes only. Please do your own analysis before making any financial decisions. Regards, Team WaveMoku

WaveMoku

After the Covid crash, PIIND has completed Waves 1 and 2 as per Elliott wave. Right now, it is in Wave 3, and in uptrend. However, Wave 3 is not forming the usual 1,2,3,4,5 pattern. Instead, it is going up as a corrective wave in the form of triangles. We can see that the time between waves is almost equal (a minor difference of 4-5 bars) Applying Fibonacci...

WaveMoku Updated 

Beginning the count from July 23, 2024, Nifty seems to have completed Waves 1, 2, and 3 on a 15 minutes time frame chart. Right now, Nifty is completing Wave 4. Wave 2 was a ZigZag correction, and the ongoing Wave 4 is Flat correction. Wave A & B of Wave seems to be over and Nifty is getting ready for Wave C. The expected target of Wave C is at least 61.8%....

WaveMoku Updated 

After the budget on July 23, 2024, Nifty experienced a slight retraction. But, today (July 26, 2024), it recovered and created an all-time high of 24, 861. This raises the question, “ What’s Nifty planning to do next? ” For a change, let’s try to decipher Nifty’s next move using Neo waves. We begin the count from the Election results’ day low hit by Nifty on...

WaveMoku Updated 

Wave Analysis: Bank Nifty is trading in a range with a bearish bias. It has completed waves A and B and now appears to have entered wave C, suggesting we might see a sharp one-sided (wave 3 of wave C) move in the coming days. Based on wave analysis and Fibonacci extension, Bank Nifty can reach the mentioned demand zones. This view will become inactive if it...

WaveMoku Updated 

Fin Nifty spent the last few days moving sideways after a significant fall from 161.8% (24,000). The corrective wave has completed waves A and B, and today, the price almost touched 61.8% (minimum C wave Fibonacci level). However, the C wave often extends further in a flat correction, making it highly likely to hit 100% or more. Resistance Levels: 23,719, 23,815,...

WaveMoku Updated 

Why Shorting Bank Nifty? Initially we expected Bank Nifty to touch 53500 but wave 5th failed by 150 points. High made 53357. Bank Nifty is entered downtrend by breaking IChimoku TS KS in 1hour and price action levels. CMP: 52641 Entry: 52600 Stop Loss: 52985 Target: 51675 Disclaimer: We are not SEBI registered. The content presented here is based on...

WaveMoku Updated 

Where are we standing according to Elliott Wave in Nifty? Wave Counting: The impulse that started after the COVID crash is almost near it's completion. Currently, we are in Wave 5th of the bigger Wave 5th. Wave 3rd completed in October 2021. Wave 4 (truncated) completed in March 2023. The Wave 5th started in March 2023 , and we are in the sub-waves...

WaveMoku Updated 

Bank Nifty has competed wave 4th and gave momentum breakout above 1 hour Cloud, TS and KS. CMP 52481 Entry: 52530 Stop Loss: 52099 Target: 54000, 54400