Bank Nifty at Lifetime Highs! Unbelievable Forecast Using Elliott Wave!

 Elliott wave is GPS of the market and helps to derive short term to long term targets.

Below is the chart of Banknifty showing possible path ahead which was derived in our live weekly webinar with 1000s of participants.

Bank Nifty Daily Chart Anticipated as on 6^th April in Weekly webinar

Bank Nifty Daily Chart Happened as on 30^th April 2024

Bank Nifty has been moving precisely the way we have been forecasting as per advanced Elliott wave.

At the start of April month, when Bank Nifty was trading near 48000 levels, we mentioned about possible upward journey with targets of wave 5. Wherein, we derived target of wave 5 which is near 50000 levels.

The second chart shows that, Index has obliged and followed a path which can be seen in the first chart. Index rallied more than 3000 points from the lows. In today’s session Bank Nifty made a fresh record high and almost achieved our target by making high of 49974. This is enough proof that shows the method of forecasting works despite of the news or events that majority is tracking. One needs to ensure to follow the rules of Elliott wave and Neo wave to trade with high conviction!

As of now, one can continue to ride the trend by using buy on dip approach! The key support is at 49050 levels. So as long as price protects this level overall trend is likely to remain positive.

 

ICICI Bank: Price targets using Elliott wave!

 Elliott Wave has helped us to navigate the trend for the stock. ICICI Bank moved as expected and achieved our target of 1137 levels. The stock moved much higher and made a high of 1151.15. You can also do that especially if you know how to combine Elliott wave along with technical indicators for powerful setups.

We published the following research on ICICI Bank pre-market on 24^th April 2024 in

 "The Financial Waves Short Term Update” which our subscribers receive pre-market every day   

ICICI Bank Anticipated as on 24^th April 2024

Wave analysis as on 24^th April 2024:

In the previous session, ICICI Bank formed a tiny bearish candle. Despite of it, the stock gave close above the previous day’s high. On the daily chart, we can see that Ichimoku cloud acted a perfect support. As from it prices witnessed bounced back on the upside.

Prices recently reversed form the internal channel support and now moving towards upper end of it. As per wave perspective, prices are moving up in form of wave e of Diametric pattern. As per guidelines wave e often tends to equality to wave c. As per this, there is great upside potential for the stock. For that a breach above 1100 is must.

In short, ICICI Bank looks bullish. A breach above 1100 is must for fresh buying to emerge with the targets of 1125 followed by 1137. While on the downside 1064 is the key support level.

ICICI Bank Happened as on 29^th April 2024

Happened: We can see that how wave count has helped us to find out the trend reversal for ICICI Bank well in advance. After completing wave d near 1049 levels we had mentioned possibility of an up move in form of wave e and the stock moved as we expected. In today’s session, stock achieved our target. We derived target of 1137 levels which was achieved within just 3 trading sessions. Stock moved way higher and made high of 1151 which is more than 5% from the buying levels.  

 Elliott wave is GPS of the market and it helps to understand the maturity of trend and shows path ahead.

It is possible to forecast the market using simple scientific method of Elliott wave.

Below chart of Nifty was shown on 13^th April during a live webinar

Nifty hourly chart: anticipated on 13^th April 2024

Nifty hourly chart: Happened

Elliott wave analysis – As shown on 1^st chart we had shown the possible path on the basis of the Ending Diagonal pattern on Nifty. Prices were expected to fall on downside and then reverse back higher in form of wave 5. We can clearly see a sharp correction from 22770 to the lows of 21777 a fall of 1000 points and from there, prices reversed back on upside by rallying by nearly 800 points.

Happened: Nifty movement has been in lockstep fashion as per the Elliott wave chart and KST momentum indicator continued to work extremely well as expected.

As per this pattern, prices are in matured stages of up move which is also in sync with Neo wave outlook. This up move can complete anywhere near 22800 levels and post that we can expect multi-week correction to start.

In a nutshell, Elliott wave helps to understand the maturity of trend and forecast the probable path. Trading Options become extremely easy if one is aware about the future path. Combining this with power of KST, price action and a few more indicators can provide strong trading opportunity with prudent risk-reward setup.

TRISHUL (Options Mantra + Elliott wave + Neo wave) – Learn the science of Trading using simple concepts of Volume profile, Supertrend, Price action, Keltner channel breakout, KST momentum indicator (5 Mantras of Options trading) and combine with Elliott wave, Neo wave scheduled on 1^st – 2^nd June. Limited seats only, fill below form for more details:

 Nifty Options Trading using Keltner Channel, Volume profile & KST indicator

Options trading requires understanding of momentum. The best indicator to measure this is using Keltner Channel along with KST indicator.

Which are the Powerful Indicators to use for Options buying?

Below chart shows application of 3 powerful indicators – Keltner Channel, Volume Profile and KST momentum indicator. Each of these have its own merits.

Nifty 22500 PE 25^th April 2024 expiry:

Nifty 22500 Put Option shows application of Keltner Channel, Volume Profile and KST on 15 minutes time frame.

Volume profile – This indicator helps to understand the area where major volume has taken place. We can see that 200 is the level where lot of activity has happened in this option price. After gap up on 15^th April, prices came to retest the volume profile area and also mid of the Keltner channel. This was the classic opportunity to enter on the long side of 22500 put options for the trend to resume on upside.

Keltner channel – shows the possible area of breakout. Currently prices are moving down along with Keltner channel. We need a break in options price above 300 which is mid channel followed by 341 that will confirm opportunity to buy again for positive trend. On downside 200 volume profile area is going to remain strong support zone.

KST indicator - this indicator is a very powerful time indicator and it measures if the momentum is building up or slowing down. Currently the same indicator is now moving below the 0 line suggesting lacklustre movement and this is also in sync with Keltner channel.

In short, as soon as Nifty put options prices give breakout above 300 levels we can get good options buying opportunity for a trend to 400 which is previous price action area.

In a nutshell, one can combine 3 powerful trading indicator to trade options directly.

TRISHUL - Options Mantra – (OM) with Sutra of Waves (SOW) Learn the science of Trading Options using 5 powerful mantras in upcoming Options trading program on 27^th – 28^th April 2024. Elliott wave  with Neo wave, Ichimoku Cloud with Fibonacci Trading system in Sutra of Waves (SOW) scheduled on 1^st – 2^nd June 2024. Methods can be applied directly on stocks or on the Options chart. Limited seats only

Nifty Elliott wave with KST Momentum indicator – BANG ON!

 Elliott wave is the GPS of the market that helps to understand the overall maturity of the trend and also provides confirmation if there is a reversal in vicinity.

Below is the chart of Nifty which was shared on 10^th April 2024 much before the fall started when prices were trading near 22700 levels.

Nifty chart - anticipated on 10^th April:

Nifty happened: as on 16^th April 2024

Nifty has moved sharply lower and the forecasting of the down move was done much before the fall in US stock market DJIA and also before the Israel war news. Following was mentioned on 10^th April 2024:

Anticipated - Nifty GPS Elliottwave counts with channel and KST indicator all suggesting matured stage of up move with major #Gann hurdle at 22877, KST failing to show momentum breakout and trendline resistance, ALERT!

Happened: Nifty moved precisely as expected and prices reversed down to making a low of 22100 already. The move on downside has been sharp and fast which is in lines with Elliott wave outlook. 

Prices completed wave 3 higher and reversed down as momentum failed as shown by KST indicator along with trendline resistance. Elliott wave already confirmed wave 3 to be near completion within the Ending Diagonal or terminal pattern.

Support on downside is near 21980 which is the area where ongoing wave 4 can complete and then again a pullback on upside is possible. However, breach below 21710 will indicate bigger downside correction.

Do note the above chart is as per Elliott wave and not Neo wave.

In a nutshell, above research highlights simple Elliott wave application and how it helped to capture medium term reversal on Nifty almost near the top of 22700 much before any news or events!

TRISHUL (Options Mantra +Elliott wave + Neo wave) – Learn the science of Trading using simple concepts of Volume profile, Supertrend, Price action, Keltner channel breakout, KST momentum indicator (5 Mantras of Options trading) scheduled on 27^th – 28^th April and combine with Elliott wave, Neo wave scheduled on 1^st – 2^nd June. Limited seats only, fill below form for more details: