#banknifty view for next few days:- If we look into the upmove from 42,105 to 48,614, this is a five-wave move over. Then we are into the correction move, which is very obvious. Now let me explain two setups that are visible:- 1) Scenario 1:- We assume correction is over in the form of simple zig-zag abc (3,3,5) wave a 48614 to 47010, wave b 47010 to 48305,...
#banknifty:- Looks like wave 4 has been completed and wave 5 will kick start which will take #banknifty above 49,000 on a short-term basis. Previous View:-
#banknifty positional view:- Don't listen to gossip, the market will crash, and there are no signals nearby. If you have missed the rally, wait for the dip 45,884 to 46,776 zone for fresh long with SL of 44,420 for a target of 49,372 to 50,000+. The medium-term trend change level is only below 44.420. Regards, SG
A Classical Case of Leading Diagonal:- Let me continue from where I stopped the previous analysis:- The leading diagonal in the Elliott Wave is a sort of impulsive pattern, but it differs in shape and internal structure. However, the leading diagonal occurs in waves 1 or A, & it comes in the form of a contracting or expanding diagonal. Leading diagonal is...
The movement from 38,163 to 46,369 is 7,756 point upmove, followed by a flat correction (zig zag, the reason the wave b pullback was 97.86% of the wave a). If we look at the rules of the flat the wave c must end near 123.6% i.e. 42,887 but we took a buffer of 161.8% to figure out a reversal zone. Reversal Zone:- 41,829 - 42,887, safe traders can go long once the...
#banknifty might take support from the trendline, only to sell off further. Let's see, how the picture unfolds with time. Always Trade what you see, not what you feel. Regards, SG
#banknifty positional view:- Leading Dioganal formation going on. It might be wave (1) of the next upmove or completion of wave (A) of the correction, only time will decide. #elliottwave Regards, SG
#banknifty bear trap is getting formed. Nothing to explain, the chart tells its own story.
#nifty, one candlestick reversal analysis Pin Bar on Daily Time Frame #reversal Always trade what you see, not what you feel. Regards, SG
#nifty IT Can this be a possibility? Time will only answer the query !!!
What's next in #banknifty? The analysis & levels on the chart are self-explanatory.
You can't afford to miss this rally. #gold Always trade what you see, not what you feel. Regards, SG
#banknifty:- A contra view on index discussion The analysis is based on the assumption that wave 5 is over and this is a corrective pullback. Today the price got rejected from 78.6 % - 85 % of the last upmove and if the pressure continues we might see 43,124 to 41,413 levels. The Stop Loss is very close at 46,356. This analysis looks unrealistic, but this...
Looking at the #banknifty structure, I not able to be fully bullish on the index at these levels. Regards, SG
#banknfity short-term view for next couple of days, rising wedge in the lower time frame, once 44,000 is breached, you have good downside potentials. Let's see how the market behaves in the next couple of days. Regards, SG
Wave (5) in ending, after the completion of the impulse rally, the corrective rally will begin. Always trade what you see not what you feel. Regards, SG
#banknifty This can be possible once a wedge breakout exceeds 44,080. SL will be today.
#banknifty:- Short TIme frame a cycle is getting completed, 1-3-5 down and Wave C is impulsive upmove. Funda:- Inverted H&S patterern getting married with #elliottwave (4-5-A,B - Formation and Wave C - enchashment ) Always trade what you see not what you feel. Regards, SG