ICICIBANKICICIBANK has formed an ending diagonal suggesting a reversal in price. We are likely to see a deep correction from these levels.
Sensex
Bank Nifty 50k ? Next STOPWith the recent price moments after the elections , it seems that the market is going to set a new high which is also a psychological level around 50k . So soon we can see crossing this mark
📈 Nifty's Current Situation: A Simple BreakdownToday, Nifty, the benchmark index of the Indian market, made a noteworthy move, inching close to its all-time high. Let's break it down: went up by more than 1%, coming close to its all-time high. Here's a closer look:
What's Up with the Market 📊:
Nifty's recent jump got it close to its highest-ever levels. Sounds good, right? But there's a challenge—it's right at a powerful supply zone where the market often faces a tough time.
What the Charts Are Saying 📈:
The quick climb has made Nifty stretch a bit from its average Price (EMA20). History says Nifty usually comes back to EMA20 after a speedy rise. So, brace yourself—a correction might be on the way. Looking deeper, it seems Nifty has a habit of taking a breather near its EMA20 after moving up fast. This time seems no different, hinting at a possible slowdown.
What to Expect 🎯:
In simple terms, be ready for a possible cool-down from the Supply zone. While quick rises catch eyes, a steadier climb is usually better for a strong trend. But here's the twist—if Nifty breaks through this tough Supply zone, we might be in for more highs.
🚨 Watch Your Steps:
Nifty is benchmark index of the Indian market, Since Nifty is close to this tricky zone, it's wise to be careful. Set your safety nets (stop-loss) smartly, based on how much risk you're comfortable with.
Final Words & Reminder 📝:
Interpreting market signs is part skill, part instinct. This guide is here to help you learn, not as professional advice (I'm not a SEBI registered analyst). Just sharing insights for you to learn. Keep it smart out there!
Trade Smart, Navigate Cautiously! 💹✨
Lastly, Thank you for your support! Your likes & comments . Feel free to share your thoughts and feedback in the comment section.
TATA Consumer ProductTATACONSUM - The idea is based on the Elliott Wave Theory. A five wave pattern has clearly completed on the stock with an ending diagonal in wave 5th.
This suggests that a correction will take place to 50% to 61.8% fibonacci level. So a correction towards 800 is likely in the coming weeks. As markets are also weakening due to global concerns, this is where technical and fundamental analysis are forming a balance.
NIFTY 50: Weekly Outlook: October Week 3, 2023Weekly Review
Nifty 50 gained 0.5% in the last week, hence closing at 19,751. The index has been very reactive to the past few macro events like Middle East warzone situations, Positive cues on Retail Inflation at 5.03% and poor guidance from IT companies on the growth front. Although on the technical front, levels have been in accordance with our view for the last two weeks gap opening and closing will cause a significant issue when we look back on these levels in future months.
Week Ahead:
On Daily charts key support for the week to come stands at 19,600 (make or break) for the rally to stay intact. The upcoming week will see a revision of resistance levels at 19,796-19,884 is a crucial tradezone, a break above this will see Nifty rally to 20,000 levels once again. In case a breakdown below 19,600 happens then 19,481,19,376 and 19,326-19230 will hold the fort.
Caution: Be cautious of sectors and stocks you trade as the market and scripts will be very reactive to Q2 FY24 earnings as much has not been factored in the market.
*Disclaimer*: I am not a SEBI registered analyst and hence the above market outlook is for educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
Figure 1: Nifty 50 Weekly Forecast chart
BHARTI AIRTELAIRTEL - seems to be forming an ending diagonal pattern suggesting a reversal in the trend (short-medium term). Overall the stock is in a long term bullish cycle but a correction (Wave 2) is possible towards 700.
This is only an idea based on the Elliott Wave Theory. Manage any trade/Investment at your own risk.
Nifty 50: October week 1 Weekly Market SetupWeekly Review
Nifty 50 declined by 0.18% last week to close at 19,638. The major meltdown was seen on last Thursday (weekly expiry) where the index lost close to 200 points where it touched its key support around 19,495 as per our expectations too. While broadly market is now showing mixed sentiments and is largely looking to be a stock specific trading only.
Week Ahead:,
On Daily charts, technical indicators shows bulls giving a good fght to pick up pace for what all the gains were lost in previous few weeks. Momentum is starting to build u but higher levels at 19,740-795 remains key hurdle to continue the larger rally. On the lower side 19495, 19438 and 19376 are important support to hold on.
From levels perspective, I believe it has been quite a downfall and we should see some uptick or a sideway markets now but to say further the outlook would completely depend on how Q2 numbers starts rolling out and what holds post RBI’s MPC meeting results.
*Disclaimer*: I am not SEBI registered analyst and hence the above market outlook is for only educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
BURGER KING (RBA) Possible long entry The share is making a comeback. Showing some strength after long downtrend.
I would accumulate slowly waiting upto a clear confirmation from neckline break in the charts.
and most importantly a Golden crossover has already formed.
Target price is Rs.200 anytime during the year 2024.
Note: Trade with caution! Do not trade solely based on my strategies, these are just individual ideas, kindly consult your investment advisor before taking trades.
Reversal for uptrend after a long downside for FIBERWEB INDIAFIBERWEB INDIA
Probable reversal for uptrend in the charts.
My target is Rs. 45-50 by anywhere in Year 2024.
KPIT Tech may take a fall due to raising wedge the general rule for raising wedges give some price drops ,looking into the pattern it is imminent a drop can take place in coming days..
Rsi is making divergence ,wrt price and volumes are exhausted.
INDOCO gave clear breakout have a lookIndoco remedies gave good breakout with rsi convergence signal as double confirmation.
can reach 420 as per the rule. Below 300 can be bearish reversal.
breakout with good volumes, everything explained on chart.
like and follow for more breakout patterns and investing ideas//thank you.
BANKNIFTYBANKNIFTY is showing 5 waves down from the top. Considering this as an impulse move, the current upward structure can only be corrective. This may retrace 50-61.8% fibonacci level where it could reverse with a sharp decline. Currently, an invalidation level can only be considered at the 46,300 top, i.e start of wave 1.
This idea is based on the Elliott Wave Theory. Manage your own risk while investing/Trading.
TATA CHEMICALSTATA CHEMICALS - There is a bearish cycle forming on the stock. As long as the price stays below the invalidation of 1084, bearish pressure could remain and could move towards the 800 level with a strong resistance.
This idea is based on the Elliott Wave Theory. Any trade/Investment should be managed with proper risk management.
vidhi speciality buy @ 377 target 397, 407, 427, 442 channelvidhi speciality buy @ 377 target 397, 407, 427, 442
channel breakout
risk reward 1:3
sl@357
ADANI PORTSADANI PORTS has made a diagonal structure after the drop. As wave 1 completes, there would be 38.2-50% correction on the stock which are important fibonacci levels. These levels also coincide with a strong resistance area where a bullish reversal can be found (wave 3).
This idea is based on the Elliott Wave Theory. Trade/Invest with your own risk management.
SENESEX SENSEX - has formed an ending diagonal like most indices in the Indian market. This concludes a correction point for the markets. Price should remain bearish below the invalidation level (on chart).
Corrections can be seen up to 38.2 fib level (at 51,000 mark). Or lower.
This idea is based on the Elliott Wave Theory. Any investment/trade should be made with your own risk management.
HDFCBANK HDFCBANK - The stock has a bearish wave downwards and could continue to further lower levels. A consolidation below the trendline is a possibility. However, the moves are quite strong when in wave 3.
This idea is based on the Elliott Wave theory. Manage your own trade/Investment with proper risk management.
RELIANCE RELIANCE - The stock has started an impulse downside. As long as price is below 2583, the bearish count would remain intact and a strong fall could be seen next in the wave 3.
This idea is based on the Elliott Wave Theory. Manage any Investment/Trade with caution and risk management.
TCS - A Crucial LevelTCS remains at a crucial resistance level. While a move to 3580 could trigger a bullish scenario, price below the level has a bearish touch.
This is only an idea. Any trade/Investment should be made with proper risk management only.
shankara building wait for retrecement target 790, 810,822, shankara building wait for retrecement
target 790, 810,822, 842
ascending triangle breakout
sl @ 708.40
AXISBANK - Elliott Wave TheoryAXISBANK - A correction downside is a possibility as it seems to have completed 5 waves up. A resistance (trend) line can also be seen which the price has rejected. A downside break opens up opportunities for selling.
NIFTY - Structures and CorrectionsA follow up on the previous idea:
The market seem to have completed the structure. As long as the price remains below the Invalidation level, the bearish view remains active. The monthly candle also seems to be closing inside the structure which supports this idea.
This is only an idea based on the Elliott Wave Theory. Manage your own risk while trading/Investing.
ANDHRA PETROCHEMICALS WEEKLY TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive Moves).
Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
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