subhagghosh

subhagghosh

This Elliott Wave analysis on Bank Nifty (4H chart) outlines a classic impulsive wave structure with an extended Wave 3 and projected movement into Wave 4 and Wave 5. Let’s break it down step-by-step: 🌀 Wave Structure Identified: Wave (i) to (v) – This is the 5-wave impulsive move within Wave C of a larger corrective structure. Wave 3 is extended – This is...

subhagghosh

Current Scenario: Wave 3 is actively in progress, showing strong bullish momentum characterized by price gaps—typical traits of an impulse Wave 3. The ongoing move has already extended precisely up to the 2.618 Fibonacci extension, reflecting strong impulsiveness and market participation. Trading Recommendations: Do not initiate short positions until the...

subhagghosh

Setup 1: Wave 4 Correction Description: The descending triangle is interpreted as a Wave 4 corrective structure. Scenario: If this is Wave 4, it means the trend is still bullish, and after the correction is completed, the price is likely to break upward into Wave 5. The price may bounce off the horizontal support line and eventually break above the descending...

subhagghosh

Chart Interpretation 1. Triangle Pattern: A visible contracting triangle pattern (marked as Wave (ii)) indicates consolidation before a breakout. Triangles typically occur in Wave 4 or corrective waves (B waves). Fibonacci Levels: Fibonacci extensions (1.618, 2.618, 3.618, etc.) are used to project potential targets for Wave (iii), Wave (v), or corrective...

subhagghosh

This chart represents a detailed Elliott Wave analysis for Gold (XAUUSD) in a 1-hour timeframe. Here's the explanation: Elliott Wave Progression: The chart shows waves labeled as (i), (ii), (iii), (iv), and (v) for a larger impulsive move down. Following the completion of wave (v), a corrective structure (marked with W, X, Y, Z) appears, indicating a complex...

subhagghosh

Wave Structure and Labelling The chart uses the Elliott Wave theory, which segments market movements into impulse waves (trending) and corrective waves (retracing). Wave Labels: Primary wave labels like (A), (B), and (C) represent a corrective wave structure. Subwaves labeled i, ii, iii, iv, and v represent smaller impulsive moves within the corrective waves. ...

subhagghosh

#banknifty:- Do we have the 5 waves completed or is the 3rd just finished and we are in the 4th wave, trying to head higher in wave 5? Looking at the consolidation, it looks like wave 4 only, one leg upmove pending in this upmove. Let's see how bank nifty moves in the coming days. #elliottwave

subhagghosh

#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,...

subhagghosh

#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:-

subhagghosh

#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

subhagghosh

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...

subhagghosh Updated 

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...

subhagghosh Updated 

#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

subhagghosh

#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

subhagghosh

#banknifty bear trap is getting formed. Nothing to explain, the chart tells its own story.

subhagghosh

#nifty, one candlestick reversal analysis Pin Bar on Daily Time Frame #reversal Always trade what you see, not what you feel. Regards, SG

subhagghosh Updated 

#nifty IT Can this be a possibility? Time will only answer the query !!!

subhagghosh

What's next in #banknifty? The analysis & levels on the chart are self-explanatory.