Get started

Niftylong

Briefly long on NiftyAs posted in the past couple of updates (links attached), Nifty reversed from the 161% FE after completing an Ending Diagonal pattern at the end of wave 3 (as shown in one of the links attached). Wave 4 target is atleast 11,246 and at most 11,356. This move could be slow and choppy and hence either one can long a future with SL of wave 3 low or just ignore this up move. Nifty can come down but would stay above the Wave 3 low. Hence, it could be difficult trading long calls (as there'll be losses due to theta decay). A better trade would be the impulsive short trade once this move is over for wave 5 once wave 4 is completed. The whole wave count is shown in another post (link attached).
NSE:NIFTYLong
by tushargupta1991
1
NIFTY Bank Index buy opportunities at new weekly demand levelNIFTY Bank Index is comprised of the most liquid and large capitalised Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks. Nifty Bank has been rallying for weeks breaking all time highs at 28400 a few weeks ago. There is a very strong weekly demand imbalance created once those all time highs were broken. This weekly demand level is located around 27211 price area. The imbalance is pretty strong. Long term longs will be possible at this new imbalance is price retraces and market conditions are trend are the same. There are shorter term opportunities created in shorter timeframes, this analysis is done for a single timeframe, the weekly chart. In an uptrend new demand levels are created and respected, supply levels are eliminated in an uptrend. There is no reason to go short in the short/medium term unless you are a scalper and trading the very lower timeframe imbalances.
NSE:BANKNIFTYLong
by AlfonsoMoreno
Nifty Elliott Wave Analysis: Rallying Higher as ImpulseHello Traders, In this analysis, we will have a look at the Nifty index from India in the 4-hour timeframe. Nifty Elliott wave analysis suggests that the rally to 11171.55 high ended black wave ((3)). Down from there, the decline to 9951.9 low ended black wave ((4)) pullback. The internals of that pullback unfolded as Elliott wave double three structure with sub-division of 3-3-3 corrective swings in each leg. Down from 11171.55 high, the initial decline to 10276.3 low ended blue wave (W) as a Flat. Then the bounce to 10637.8 high ended blue wave (X) bounce. And the decline to 9951.9 low ended blue wave (Y) of black wave ((4)) as Elliott Wave Flat. Up from 9951.9 low, black wave ((5)) remains in progress as impulse where blue wave (1), (3) & (5) are expected to unfold in 5 waves advance within lesser degree cycles. Whereas blue wave (2) & (4) are expected to unfold in 3 waves corrective sequence in lesser degree cycles. Above from 9951.9 low, the rally higher to 10929.2 high ended blue wave (1) in 5 waves structure. Down from there, the pullback to 10404.62 low ended blue wave (2) in 3 swings. Above from there, the index is nesting in blue wave (3) higher. Where red wave 1 ended at 10893.25. And the red wave 2 ended at 10557.7 low. Near-term focus remains towards 11458.50-11584.44 100%-123.6% Fibonacci extension area of black wave ((i))-((ii)) to end the lesser degree blue wave (i). Later on, the index is expected to do a pullback in blue wave (ii) in 3, 7 or 11 swings before further upside is seen. We don’t like selling the index and prefer more upside as far as the pivot at 10404.62 low in our distribution system stays intact.
NSE:NIFTYLong
by Elliottwave-Forecast
7