As we approach the close of this trading week, we're spotting some intriguing patterns in the BankNifty Index.
Wedge Drama Unfolding?
- Without giving away too much, there seems to be a rising wedge forming at the current highs.
- This might hint at a potential move towards a 45299 downside target.
Our tiny heroes reached a majestic peak at 44669 as per last idea published yesterday, just as we imagined in our dreams! This peak was not just a high point, it was a place where they could see the entire playground sprawling below. But as we all know, after reaching the top, there's a thrilling slide waiting! Our numbers decided to swoosh down, and...
Hey little explorers! Gather around because it's time to continue our fun adventure story with WaveTalks. You remember our big playground where numbers play like kids, right? Let's see what exciting things are happening there now!
Chapter 1: The Big Bounce
Do you remember the magical bounce we saw on July 30th? The numbers played on the swings, going up and...
Having journeyed with us through the enigma that was the Mysterious X-Wave, you'd be keen to know, "What's next on the horizon for BankNifty?" Having witnessed the roller-coaster oscillations between 43940 and 44779, and having dived deep into the "Magic of Centre Line Reversal," here we present the way forward.
Reassessing the Ground
As you've seen, the...
Magic of Centre Line Reversal & 43940
Greetings fellow traders and wave enthusiasts!
Let me take you back to our previous idea.
The Last Idea - Selling only Below 44500
We eyed selling below 44500. However, as markets are full of surprises, it opened gap up above 44500, invalidating our idea. But keen observants would've noticed my comment at 2:15 pm...
The impulse which started from the tops of 46310 could complete close to 43345-43600 in next few days as suggested in the last idea mentioned below & shown by the black downside arrow
The Last BankNifty Idea
This Idea will conclude Part 3 in the stock
Impulsive Leg which started in March 2020 at the Price of 47 shall end close to 300+ in few weeks & months ahead
Tata Coffee. Hope You Enjoyed the Coffee
-Abhishek H. Singh, CMT
Netflix - Scoop
The riveting Netflix web series "Scoop" brought to life a powerful saying from the book **"Behind Bars in Byculla: My Days in Prison" by Jigna Vora**. The line, **"If someone says it’s raining, and another person says it’s dry, it’s not your job to quote them both. Your job is to look out of the window and find out which is true" is a fitting...
A "Falling Expanded Ending Diagonal" is the most probable pattern which has unfolded so far suggesting there could be exhaustion in selling at current price levels.
Where I could go wrong
If Index fails to hold 45750-45800 zone then this pattern is no more valid & I will avoid buying.
Holding above the 45750-45800 zone, Index can attempt to touch ...
Inverse Head & Shoulder Pattern (Killroy Pattern) are reversal patterns & unfolds in expectation of bullish moves next.
Right Shoulder is 43850
Consult your financial advisor before taking any positions. Happy Weekend.
Real Time Application Date - 29th May / 30th May 2023
Head & Shoulder has unfolded on 29th / 30th May 2023 for Bank Nifty Index & Neckline is already broken to downside & we are waiting for break below 44250 -which is another key support
The information provided in this update is for educational purposes only and should not be considered...
In the world of financial markets, technical analysis plays a crucial role in understanding market trends and making informed investment decisions. One powerful tool in this domain is wave analysis, which has proven its accuracy time and again. In a recent BankNifty analysis, wave analysis beautifully predicted the index's movements, providing...
Welcome back to another episode of Wave Talks. Bank Nifty's Tidal Wave -Ride or Crash: Index can face a significant shift with the unfolding ending diagonal. Will you ride the wave to profit or crash on the shore? Unfolding wedge pattern
It's time to reconsider Bank Nifty's pattern as it poses a risk. Let us discuss in details price objective & outlook for next...
Earlier in The Day - When Magical Level of 43350 Holds
Also known as an ending wedge, is a term used in the field of technical analysis to describe a specific chart pattern that signals the end of a trend or price movement. This pattern is characterized by converging trendlines that form a wedge shape and typically consists of five...
Educational Video : Triangle Pattern Unfolding Realtime
Triangle is an Elliott wave pattern seen during sideways market consolidations, it is composed of 5 corrective sequences. Triangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility.
It was all amazing last few days as we have discussing how bulls could be trapped on the top close to 39695- which is one the key levels in the unfolding triangular correction
Have been student of astrology for last few years, it happened fortunately that I came across my bible book -American Ephemeris 2020-2030 on last Friday 24th March 2023 &
Index till the time holds below 39699 which was closing high for 17th March 2023 in gap up move tomorrow @ 21st March 2023 & falls 300-400 points down & remains above mini double bottom of 38926 & 38941 then we can have another push upside towards 39699 / 39914 / above 39914 towards 40690's approx.
Thanks for watching the video.