Nifty Reversed Below 26k, Buy On Dips or Sell on Rise?

Nifty showed sharp selloff falling below 26000 and closing lower by 368 points. Selling was witnessed majorly in index heavy weights like Reliance and banking stocks.

Understanding the overall pattern on basis of advanced Elliott wave – Neo wave method.

Nifty daily chart:

Nifty hourly chart:

Nifty daily chart shows that prices closed below prior day’s low after 14 consecutive days. This has turned the overall bias on downside but the medium term tone still remains buy on dips.

As shown on hourly chart since the low the entire rise looks to be in complex corrective fashion. The rise from low of wave f we are dividing it into wave g completion near 25450 and then fall in form of wave x to make wave g equality in terms of price / time to that of wave a.

The internal counts post wave x shows completion of rise in minor degree diametric pattern and the fall is only retracing a portion of the rise. This wave down can be wave b post completion of wave a at the high.  

So the overall tone is still bullish & post short term wave b completion we can expect wave c to resume higher. The support of 38.2% is near 25740 and 61.8% is near 25410 levels. Any breach back above 25980 – 26020 will indicate possible completion of wave b and start of wave c higher.

In a nutshell, Nifty can move in a broad range as of now of 25740 – 26020, break below 25740 might extend the fall further to 25410 levels. Post completion of wave b we can expect uptrend to start. Basis of this GPS of the market one can form prudent options strategy.

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ICICI Bank is on the mark! Combining 2 Best Indicators along with Elliott Wave!

Sometimes, a straightforward price pattern, when combined with price indicators and advanced technical tools like Elliott Wave, can yield remarkable results! See yourself how we identified such a massive move in ICICI Bank. Check out how we accurately predicted on the possible up move on ICICI Bank which has rallied more than 7% and achieved our target in just 3 trading sessions.

We published about ICICI Bank in " Vayu Short Term Update" on 20^th September 2024 which our subscribers receive pre-market. Check out below the detailed research report that we published.

ICICI Bank Daily chart anticipated on 20^th September 2024

ICICI Bank Hourly chart anticipated on 20^th September 2024

Wave analysis:

On the daily chart, ICICI Bank gained more than 8% since 9th September reflecting accelerated buying pressure in the underlying. Prices have not given a close below their previous day’s low since 9th September suggesting that bulls are in charge of the trend. Currently, prices continued to close above the upper Bollinger Bands® suggesting continuation of the trend. Also, RSI is trading above 70 indicating high momentum in the underlying.

On the hourly chart, prices are currently trading at the Ichimoku cloud’s convergence line, which has previously efficiently acted as a support from which prices have reversed on the upside. Also, current rise is in form of wave e of a diametric pattern. In nutshell, trend for ICICI Bank remains positive.           

Key Resistance – 1320

Key Support – 1283

Trade setup for intraday futures – long positions can be created above 1300 with the targets of 1305 followed by 1310 and stoploss of 1293.

Trade setup for positional futures – long positions can be created above 1300 levels with the targets of 1325 levels and stoploss of 1282(One can book part profit near 1310-1315 levels and trail stoploss to cost)

Trade setup for options – ICICIBANK 1270CE BUY ABOVE 33 SL 26 TGT 40 TGT2 50.

ICICI Bank Daily chart happened as on 25^th September 2024

Happened:

The stock has moved as we anticipated. Prices showed a rise of more than 7% and achieved targets of 1320(spot). We successfully captured an up move and target was achieved in future and options segment as well!

This demonstrates that application of a combination of learnings including price action, price indicators, and Elliott Waves can help achieve targets more confidently and consistently!

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Mahindra & Mahindra Bang On using Elliott Wave and Bollinger Bands.

We published about Mahindra & Mahindra combining advanced technical techniques such as Elliott Wave and Bollinger Band® Indicator and forecasted a possibility of good returns in the upcoming trading sessions in our Vayu Momentum report. Check out the research we had published on 23^rd September 2024.  

Below is the snapshot of chart along with the detailed analysis of M&M which helped to derive targets combining Elliott Wave and Bollinger Band technique. We recommended this stock when trading near 2950-2960 levels and successfully caught the up move within just 1 trading session!

M&M Daily Chart (Anticipated on 23^rd September 2024) 

Wave analysis:

In the previous session, Mahindra and Mahindra surged by over 5.48%, breaking above its trendline with a significant increase in volume. This surge suggests a potential trend reversal and indicates fresh buying interest in the stock. Currently, prices have given a close above Upper Bollinger Band® reflecting increasing buying pressure in the underlying. Also, RSI is trading at 68 supporting the high momentum in the prices. As per wave perspective, wave iv got completed on the downside near 2650 levels and since then the rise that we are seeing is in form of wave v.

Key Resistance – 3010

Key Support – 2855

Trade setup for intraday future – Long positions can be created above 2960 Levels with the targets of 2970 followed by 2780 and stoploss of 2950 levels.

Trade setup for Positional Futures – Long positions can be created above 2960 with TGT 3000 and stoploss of 2940 levels (One can book part profit near 2980-2985 and trail stoploss to cost) 

Trade setup for Options – M&M SEPT 2900CE BUY ABOVE 76 SL 64 TGT 96 (One can book part profit near 86-87 levels and trail stoploss to cost).

M&M Daily Chart (Happened on 24^th September 2024) 

Happened:

After recommending the stock, it moved exactly as anticipated and traded at life-time high levels of 3098.55 and achieved both our targets in futures as well as options. It is fascinating to see how accurately combing basic indicators along with advanced wave techniques can help predict price targets with accuracy! We have favorably captured this surge of more than 4% in just 1 trading session.

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Hero Moto Corp: Price targets using Elliott wave!

We published about Hero Motocorp and predicted a possibility of good returns in the upcoming trading sessions in our Vayu Momentum report. Check out the research we had published on 18^th September 2024. 

Below is the chart which shows a detailed analysis of Hero Motocorp which helped to derive targets using Elliott Wave technique. We recommended this stock when trading near 5950-5960 levels and successfully caught the up move within just 1 trading session!

Hero Motocorp Daily Chart (Anticipated on 18^th September 2024)   

Wave analysis:

On the daily chart, prices have broken out of a Rounding bottom formation accompanied by increased volume, signalling a new wave of buying interest in HeroMoto Corp. Additionally, Prices made a new fresh high and closed above the previous day’s high suggests growing bullish momentum. Currently, prices are trading near the upper Bollinger bands®, a decisive break out of it can accelerate positive momentum in the underlying. Also, KST indicator has recently crossed the zero-line moving upwards indicating increasing strength in the trend. 

Key Resistance – 6030

Key Support – 5800

Trade setup for intraday futures- long positions can be created if it comes near 5900 with the stoploss of 5875 and target1 of 5925 and target 2 of 5945. 

Trade setup for positional futures – long positions can be created if it comes near 5900 with the stoploss of 5820 and target of 6010 (One can book part profit near 5940-5950 levels and trail stoploss to cost) 

Trade setup for options: HEROMOTOCO SEP 5900CE BUY IF IT COMES NEAR 120-125 SL 95 TGT1 155 TGT2 175

Hero Motocorp Hourly Chart (Happened on 23^rd September 2024)  

Happened:

Post recommending this stock, prices moved as expected, stock showed a good rally after a dip and achieved our targets in both futures as well as options. This up move of more than 2.8.  We have successfully captured this move with the help of Elliott wave, along with price indicators in just 1 trading session.

Want to know more such stocks like Hero Moto Corp subscribe to our Vayu Momentum Research Report: Get a list of stocks with high growth potential: Check Here

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Nifty Target using Neo wave and Time cycle

Neo wave along with a Time cycle helps to form powerful setups with a good accuracy. In the previous monthly report dated on 22^nd August 2024 we anticipated possible rally in Nifty. Nifty moved precisely as expected!

Nifty Daily chart anticipated as on 22^nd August 2024 

Nifty Hourly chart anticipated as on 22^nd August 2024 

Wave analysis anticipated as on 22^nd August 2024 

Nifty has been moving precisely as mentioned in prior monthly research report. It was mentioned clearly that the upside momentum can reduce as 55 Days Time cycle was entering into topping zone and we can start seeing again positive trend from 16th August 2024. Low formed on 14th August was at 24100 and Nifty opened with strong Gap up the very next day. It has already touched the high of 24867 as on 22nd August 2024. This is a move of more than 750 points in just 5 trading sessions. This clearly shows the power of Time cycles and how it can form a classic combination with Neo wave application.

Nifty alternate weekly possibility – Nifty weekly chart shows that prices might be on path of forming a Big Diametric pattern since the lows of Covid 2020. The entire rise can be in 7 legs and we are currently only in wave (C). The first target for this wave C can be near 25361 which is the Gann level that can be followed by 26450 levels.

Nifty short term Neo wave outlook – Nifty short term daily and hourly charts show the low formation on 55 days time and the internal counts for ongoing up move post election low in June 2024.

We have tweaked the internal counts of the rise and it seems the trend that started from 4th June 2024 low is still forming a Diametric pattern. Within this wave g on upside is ongoing which measures equality target approximately near 25361. This is also the Gann square of 9 levels we have been talking about earlier in our webinars and short term research report

In a nutshell, Nifty trend remains positive for a move to Gann level of 25361 levels as long as the support on downside near 24350 remains intact.

Nifty Daily chart happened as on 18^th September 2024.

Nifty Hourly chart happened as on 18^th September 2024

Happened:

In our monthly report we mentioned about possible up moved towards 25361 levels and gave hints above possible fresh highs in index! Nifty moved precisely and achieved our target in a month!

We have successfully captured this entire rally with the help of advance technical tools like Neo wave and Time cycle! Its brilliant to see the results one can achieve using these advanced techniques and apply them in action.

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Multibagger stock: COLPAL 81% move in just 11 months!

It is possible to capture a massive move in a shorter time frame with the help of the Time cycle and simple Elliott wave theory.

We had recommended to buy Colgate Palmolive in our Jal Multibagger stock report back in October 2023, when the stock was trading near 2053 levels! Below is the detailed chart and analysis that the stock followed.

Colgate Palmolive Weekly Chart (Log Scale) Anticipated as on 30th October 2023

Colgate Palmolive Daily chart Anticipated as on 30th October 2023

 

Wave Analysis Anticipated as on 30th October 2023

 COLPAL is engaged in the personal care and oral care business. The company offers various personal care products, such as soaps, cosmetics, and toilet preparations. The stock comes under FMCG sector. After consolidation of more than 3 months, FMCG Index looks all set to give a breakout of the consolidation ahead of various companies quarterly results.

As per wave perspective, stock has shown an impulsive rise. As per wave perspective corrective wave 4 which was forming a Diametric pattern has been terminated near 1440 levels and near channel support. Wave 4 got completed in form of running correction. Currently we are moving in wave 5. So, we are expecting more rise in this stock towards upper trendline of the channel. Any dip towards the Exponential Moving Average of 60 period i.e. towards 1756 can be used as a buying opportunity.

COLPAL has been forming lows every 89 weeks as per this cycle and we can clearly see that in above chart. The vertical blue line represents 89 week’s Time cycle and we can see sharp bounce back on upside after prices are near that zone. Recent low was exactly on our cycle where wave 4 got completed.

In short, it is ideal time to start accumulating FMCG stocks. As mentioned earlier the target for this stock comes to around 3700 on the upside. The rise has been impulsive in nature. The trend for COLPAL is positive as long as 1230 levels remains intact on downside. Buying can be done in staggered fashion towards 1756 levels in this stock!

 Colgate Palmolive Weekly chart Happened as on 17th September 2024

Happened

In October 2023, we published about Colgate Palmolive in our Multibagger report. At that time stock was trading close to 2053 levels. The stock moved as expected and achieved our target of 3700 levels in today’s session and made a lifetime high of 3709.95 within less than 11 months, which is more than 81% from the levels suggested. We have identified this stock using advance technical tools like Time cycle and Elliott wave theory!

Time Cycle and Elliott wave works brilliantly if one knows how to apply it correctly. So, using these two techniques one can capture massive moves in stocks for long term as well as for short term!

Wanto to know more such stocks like COLPAL subscribe to our JAL-Multibagger Research Report: Get a list of stocks with high growth potential Check Here

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Jindal Steel Bang on! 2 Best Indicators you cannot miss!

Sometimes simple price pattern along with price indictors and Volume Profile creates wonder if one combines it together! See yourself how we identified such a massive move in Jindal Steel. Check out how we accurately predicted on the possible up move on Jindal Steel which has rallied and achieved our target in just 1 trading session.

We published about Jindal Steel in "Vayu Short Term Update" on 13^th September 2024 which our subscribers receive pre-market. Check out below the detailed research report that we published.

Jindal Steel Daily chart anticipated on 13^th September 2024

Jindal Steel Daily chart with Volume Profile anticipated on 13^th September 2024

Wave analysis:

In the previous session, Jindal Steel gave a gap-up opening and gained more than 3.90% with a rise in volume reflecting increasing bullishness in the underlying. Since 9th Sept, prices have not given a close below the previous day’s low which suggests escalating buying pressure. Currently, Bollinger Bands® are widening and the prices are trading above the upper band indicating increasing volatility and strength of the trend respectively. As per the volume profile, prices have taken support at 934 levels and bounced back on the upside. Now next hurdle is near 1030-1040 levels. In short, the overall trend for this stock is bullish.

Key Resistance – 1040

Key Support – 980

Trade setup for intraday future – Long positions can be created above 1015 levels with the targets of 1022 followed by 1030 and stoploss of 1007 levels.

Trade setup for Positional Futures – Long positions can be created above 1015 with TGT1 1030 TGT2 1050 and stoploss of 995.

Trade setup for Options – JINDALSTEEL 980CE BUY ABOVE 40.5 SL 33 TGT1 46 TGT2 52

Jindal Steel Daily chart happened on 16^th September 2024Happened – The stock has moved as we anticipated. Prices showed a rise of more than 3.7% and not only achieved targets of 1040(spot) but breached above it and made a fresh high of 1049 in today’s session. We successfully captured a up move and target was achieved in future and options segment as well!

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Hindustan Unilever: Price targets using Elliott wave!

We published about Hindustan Unilever in August 2024 and predicted a possibility of good returns in the upcoming trading sessions in our Monthly Research report. Check out the research we had published on 22^nd August 2024. 

Below is the chart which shows a detailed analysis of Hindustan Unilever which helped to derive targets of 2950-3000 using Elliott Wave technique. We recommended this stock when trading near 2780-2790 levels and successfully caught the up move within just 12 trading sessions. 

Hindustan Unilever Weekly Chart (Anticipated on 22^nd August 2024) 

Hindustan Unilever Daily Chart (Anticipated on 22^nd August 2024)

Wave Analysis on 22^nd July 2024:

FMCG Sector has seen strong rally since 2003. This sector has continued to show strong rise in the month of July 2024. Earlier, Hindustan Unilever was stuck in a broader range. In the previous month, Hindustan Unilever was moving in Triangular pattern and it has already given a breakout of it. Once we have achieved additional breakout confirmation in form of follow up buying then we can expect fresh highs to be made in this stock.

As per wave perspective, stock is moving up by following classic Elliott wave theory. Wherein, wave (4) completed near 2200 levels in April 2024. Now, we are seeing rise in form of wave (5). 

On the daily chart, the short-term trend of Hindustan Unilever is on a positive side. It is advisable to buy the stock on dips to achieve a more favourable risk-reward ratio. Prices continued to trade above the Super-trend indicator, which confirms our bullish trend in the underlying. Nearest support to watch out for this stock is near 2600 levels. ADX is trading above 25 with an increase in DI- suggesting increasing positive momentum in the underlying.

In Nutshell, trend for Hindustan Unilever is bullish as the price has closed above the resistance levels 2750 levels. For better risk-reward, it is advisable to buy the stock on dips to achieve a more favourable risk-reward ratio with the targets of 2950-3000 levels, scenario will be invalid if price closes below 2600 levels.

Hindustan Unilever Daily Chart (Happened on 11^th September 2024)

Happened: Post recommending this stock, prices moved as expected, stock showed a good rally and achieved our target 1 of 2950 levels. In today’s session prices made a lifetime high of 2950. This up move of more than 8% we have been able to capture with the help of Elliott wave, along with price indicators. 

For now, trend remains positive for this stock. One can use buy on dips approach to ride the trend as long as 2820 remains intact on the downside. 

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ADSL: Combining Rounding Bottom with ADX

It is possible to capture massive stock moves using price patterns along with simple indicators like the ADX (Average Directional Index). 

We used these 2 indicators on ADSL and captured a massive 22% move in just 4 trading sessions. It's impressive how combining these simple indicators with price patterns can pinpoint momentum stocks for short-term trades, leading to substantial returns. 

We published ADSL analysis in "The Financial Waves Short Term Update" on 02^nd September 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.  

ADSL Daily chart as on 02^nd September 2024: (Anticipated)  

Wave Analysis as on 02^nd September 2024:  

ADSL showed sharp rally in the previous session of more than 11% in a single trading day! the stock has formed a rounding bottom pattern. Price has closed above 254 which confirms breakout of the said pattern. On the hourly chart, ADX is suggesting strong momentum can continue in this stock as it is showing readings of 30.74 which is above 25. For now, one should use buy on dips approach to ride the trend. 

Key Resistance: 290 

Key Support: 250 

Strategy: Use dips towards 260-262 as a buying opportunity for a move towards 285-290 levels as long as 250 holds on the downside. 

ADSL Daily chart as on 05th September 2024: (Happened)  

Happened: 

The stock moved as we expected. ADSL has given a breakout of Rounding Bottom with huge volume which was a bullish sign. After a dip, prices moved up as we anticipated and it has achieved our target and moved way above it and made a fresh high of 319.9 levels which is more than 22% in just 4 trading sessions from our mentioned levels.  

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Multibagger Stock: Voltas Ltd up by 44% in just 4 months!!

We published about Voltas Ltd in April 2024 and predicted the possibility of Multibagger returns in coming 1-2 years. Check out the below research we had published on 23rd April 2024 itself – 

This stock has managed to hold its gain and gave more than 44% returns in 4 months of span and made a life time high of 1828 levels. 

Voltas Ltd Weekly Chart Anticipated as on 23^rd April 2024

Multi bagger stock recommendation: Voltas Ltd

Buy Price – Buy at CMP 1390 more on dips

Time Horizon –1 to 2 years

Investment – 5% of capital

Target price –??

Stop loss - ??

Anticipated as on 23^rd April 2024 – Elliott Wave Theory:

On the weekly chart, stock gave a breakout of previous swing high as prices have given a close above 1347 levels. Also, 50 and 150 period Exponential Moving Average (EMA) has shown a bullish crossover at the start of February 2024. Since then, stock has shown a good rise. Previously, similar bullish crossover was happened in the year 2014 after which we saw a good rally. Similarly, we can expect a good momentum to continue in this stock. As, wave theory, price action and indicators all are in sync and suggesting the same thing. 

Voltas Ltd Weekly Chart Happened as on 4^th September 2024

Happened– The stock has been moving in sync with our expectations. After an initial dip, the stock has shown sharp rise on the upside which is overall 44% from the lows in just 4 months of span!!! It has touched its fresh record high near 1828 levels recently and currently it is quoting near 1787 levels. The overall up move has been strong and we expect prices to achieve its target of.....levels in coming months.

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CYBERTECH: Combining Cup and Handle with Ichimoku cloud

While trading the market it is important to understand the behavior of the market. Simple strategies like price patterns can be combined with Ichimoku Cloud to achieve powerful results and we can predict price moves in stock with high accuracy. Check out how we recently identified one such breakout in CYBERTECH 

We published CYBERTECH analysis in "The Financial Waves Short Term Update" on 30^th August 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published. 

CYBERTECH Daily chart as on 30th August 2024: (Anticipated) 

CYBERTECH Hourly chart as on 30th August 2024: (Anticipated) 

Wave Analysis as on 30^th August 2024: 

CYBERTECH showed sharp rally in the previous session of more than 13% in a single trading day! The stock has formed a cup and handle pattern. Price has closed above 218 which confirms breakout of the said pattern. On the hourly chart, ADX is suggesting strong momentum can continue in this stock as it is showing readings of 49.24 which is above 25. For now, one should use buy on dips approach for better risk reward. 

Key Resistance: 250 

Key Support: 215 

Strategy: Use dips towards 225-227 as a buying opportunity for a move towards 250-255 levels as long as 215 holds on the downside. 

CYBERTECH Daily chart as on 03rd September 2024: (Happened) 

Happened: 

The stock moved as we expected. CYBERTECH has given breakout of Cup and Handle with huge volume which was a bullish sign. Stock opened gap up in the previous session, and the stock has achieved our target and moved way above it and made 52-week high of 293 which is more than 30% in just 2 trading sessions from our mentioned levels. 

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