[Music] hello Traders welcome to the channel today 9th August Nifty is trading around 24, 351 and Bank Nifty at 50, 490 see I'm recording it live and uh you can see the price uh changes here and uh as of now if you see as per our previous week we expected the price to reach ,650 to ,750 and the price has reached and trading around that zone we need to see whether it gives a breakout or going lower and we will discuss that once the market settles and Nifty also see we expected the price to reach between 24,400 to 24450 and the high made so far is 24,40 or something and see 24420 around so the price reached our expected Zone and trading in that zone meanwhile uh many uh subscribers and followers asked that are we heading for a bigger correction in coming days so this is the primary question are we completing the wave three are we going for a bigger wave for correction so these are the common questions around the our subscribers and followers so let us discuss what is the possibility in a larger perspective for for our Indian markets I already posted a video where we discussed uh larger perspective for coming years but anyway some uh waves has been changed due to some Market events so let us discuss the larger perspective view of Indian markets now so I'm moving to the weekly chart so this is the weekly chart of nifty Wave 1 and wave two and we are in bigger wave three and we will discuss Nifty after discussing the bank Nifty and uh broader markets because I'm getting clues from the bank Nifty and other indices since uh nift's these price actions are not clear I'm getting clues from the other indices so this is Bank Nifty weekly chart uh you remember that already I shared while the price was uh trading here and even I shared in X that once the price exactly touches this channel line I said the price is at important Zone and it should be product for further up move and the price has started moving higher see this is on anticipation that the wave three uh should uh follow because broader markets are Nifty or in wave three but Bank Nifty not performed well so considering other factors and other indices I made a leading diagonal in the Subways of wave three okay this wave three Wave 1 wave two and wave three so in log perspective we are in bigger wave three wave 1 wave two and wave three okay so in larger perspective this is bigger wave 1 and bigger wave two and entire process can be bigger wave three in that uh these are subdivisions Wave 1 wave two this is wave three in that wave three the first leg is uh leading diagonal this is purely based on assumption that broader markets are performed very well so I want to match uh the wave Cons with the other indexes as for the doubt here fine this is the Assumption and uh currently we are in again subdividing and it can be Wave 1 wave two wave three wave four and wave five okay see this wave two is ended or not that we will discuss in a while so after completing this wave two this wave three should start this is the Assumption now that is the bank Nifty may start moving higher in three of this three of this three bigger three okay so three of three of three may start in the bank Nifty after this wave two ends I still I'm not convinced that uh the correction has been over so we need to watch certain price actions so there is a possibility of even one more low so anyway that we will discuss in a while in lat part of this video so once the wave two completes we will we can expect a bigger wave three and I will uh say certain levels where this view can invalidate so this is the Assumption now so the understanding is the bank Nifty may start moving in the three 3 of three and in larger perspective the wave three not yet over in the banks that's the understanding see this is small cap and uh small cap also this is Wave 1 and wave two wave three the wave three not yet over and it may reach minimum 22,000 now the price is trading around 18,400 so uh if I assume it is W 1 2 3 4 5 the three of three has completed and four has completed here here and how this price may move here so this may have the option of wave 1 2 3 4 and five it will take another five impulse wave to complete the wave three and this wave two whether completed or not that's why I am saying that there is a possibility of one more low in broader markets we discussed in previous video also so if it comes lower this can complete the 2 of Five in in bigger wave three and uh three may start and four and five May uh proceed to complete the small cap to reach around 22,000 so the broader perspective again is uh there's a space in the upside see the broader Market also noted completed the wave three particularly small cap 100 and uh this may take uh another five Subways to complete the wave three so this is the understanding see while uh analyzing this I wish to share one thing that this low okay this low I exactly identified on March 28th I will share the screenshot see why I am sharing this information is now recently I'm receiving few negative comments very few uh saying that I'm always giving alternative and taking credit for everything even though I'm giving Alternatives that's the main way to analyze that is different but even though I'm giving Alternatives I'm staying with the levels the price is following the levels right so even though if you do perfectly you are uh commenting uh negative that's okay I can understand their idea but I use this opportunity and I will explain why I saying all this to everyone because I'm responsible to answer to my genuine followers and uh subscribers see there are three things I I should not give recommendations and I will not give recommendations so in all my videos I will not give any Buy sell recommendations second thing is the primary objective of starting this YouTube channel is educating people on Ali WS you already know that I'm having a paid course and uh I am showing the uh real way to analyze the elied waves in the stock market so that's the primary objective why I'm choosing the uh Nifty Bank Nifty because Mass psychology is the backbone of elad waves that means most tradable instruments will follow the El Wes properly so that's why I'm choosing the Nifty and Bank Nifty so that I can uh educate people on Eli wave patterns these are the three things please understand that and their common question is always choosing Alternatives that's the way to analyze see for example if you are buying here instead of moving higher the price coming lower still you average it in lower price no you should have an alternate view right there are certain limit if the price crosses that limit you should have an alternate view see the basic condition to understand Eliot wave is patience and flexibility the thing is if you expect only tips byell recommendations you can follow anyone this is the place you can only get education on OT waves and coming to the point this low I mark this date also okay 27th March 2023 see this one on 28th March 2023 small cap 8,700 we are nearing the reversal Zone attach the hly chart for this correction and 15 minutes chart for this probably L leg of Correction even a minor dip is expected even the minute levels also been uny see 8,700 what is the low made on that week 8682 8,700 and the low made was 8682 those 18 points are coming from this last leg of Correction in this 15 minutes see after this low what has happened so if you want to learn the proper way of Eliot waves how to apply in realtime markets and how to adjust or how to change your view everything is taught in my course if you wish to learn the Eliot waves in 100% practical way you can register my course all the details in the description okay coming back to our uh analysis that both Bank Nifty and uh small cap suggesting that we are not yet completed the wave three and even Bank Nifty says that the three of three of three May proceed okay and even the midcap 150 also uh there is some more space upside left for completing the wave three around 22875 and it can be a extended wavei now so 1 2 3 4 5 May proceed then comparing the small cap midcap having only uh less space but this is the minimum expectation so the understanding here is except Nifty okay we will come back to the Nifty now when while analyzing the bank Nifty and broader markets we can understand that wave three is not yet over but Bank Nifty suggesting that fast and more upside is possible in the Nifty Bank by having this view now we are going to approach the Nifty see Nifty so this is uh Wave 1 and wave two probably the wave three can reach 1.618 and that 1.618 comes to 33,000 okay it may look uh much more upside but this is possible but anyway for our analysis we may expect approximately a roundoff number of 30,000 okay 30,000 is expected to complete the wave three that means minor wave three uh ending here is a less probability see this is bigger wave 1 and wave two wave three in that wave three this is wave 1 wave two wave three wave four and wave five okay this is the Assumption I'm saying about this minor wave three ending here so if this minor wave three ending here this five minimum uh should extend to this level or this level absolutely this is possible exended wave FS are possible but Bank Nifty uh may start three of three of three then why this three should end here Nifty Also may move in three of three of three that means it may continue its uh final leg or some more steam in three of three of three so my primary assumption is this three of three May reach 26150 and and uh this may continue like this so this is the Assumption now and the internals may be like this wave 1 wave two even uh this three also can reach 26,000 there are higher chances okay like this I change the color so this minor wave three itself can reach the 26150 and four and five is possible so assuming uh uh these conditions considering the bank Nifty and uh broader markets see the bank Nifty starts to moving in the faster wave three Nifty also have uh some steam left in the three that's the Assumption now so as per this conditions considering all these conditions and Nifty can reach 26150 in the this third wave itself that's the higher chance even though if it get declines this 26,50 is possible and my primary assumption is this three itself can go to 26150 okay so this is the larger perspective for our Indian markets this year so this is the Assumption now for coming months for coming days and weeks we will discuss in the second part of this video once this Market gets over today okay uh the markets have are settled today and Nifty ends this week at 24364 and uh Bank Nifty at 50482 if you see uh both Nifty and Bank Nifty not crossed our levels see this is daily chart and let me share the hly chart so these are the levels uh uh we expected last week and the price still holding this level and also in Nifty okay see the price not cross this level so what is the possibility now and if you check our long-term view Nifty has the possibility of 26,000 and all other indices are not completed a wave three but that doesn't mean that we will not have any dips anyways we will check what is the probability for the next week and coming weeks by looking at this chart I'm not confident that correction has been over here okay there is a possibility of one more low but there are two chances for that it can be right this can be one option or this is another option see this pattern does not have a convincing end of a correction so there are chances of one more low I will expand with other indexes too right so we need to check few levels if the price rejects here itself okay the price does not cross this level 24450 and uh comes lower these two levels are important most important level is this one okay and rejecting here and the price coming lower this can be fifth or this can be C please understand if it is fifth you can uh see the nature will be somewhat slower and we have already discussed the levels to watch I explained in previous video you can check that level but if the price comes first it can be ABC right sometimes the B wve can stop at 38% to 50% and the price is stopping here so if the price moves above okay above this uh 24450 you can have this limit as 24450 to 475 and uh even the price moves much higher you can have this two levels this is very very important level okay between 2465 to 24700 between 24600 to 24700 can be the important resistance right we need to see whether it takes a impulsive wave or a three wave bonce based on that price action we can confirm whether it is a new impulse that is after pullback moving higher here or this is just a bounce to make one more low but in my opinion not uh I'm not satisfied with this end of the correction there are higher chances for one more low but for that we need to see this level whether it is coming directly from here or here okay if the price reaches here okay if the price reaches this zone 24600 or uh 600 to 7 100 then we may check the internal counts otherwise this can be definitely ABC okay only if the price comes here we will check for internals if it returns here itself this is obviously ABC mostly the fourth wave uh will not take uh uh this time for this kind of wave so possibly a ABC so these are the ideas now for Nifty so why I am saying this see Bank Nifty already uh made a complex so complex are three three patterns so this Bank Nifty also can make a one more High to this point okay if moves higher okay if the price moves above this uh 5700 there's a chance of price to move to 51,00 levels 5180 to 100 let me check this FIB number also so 51,000 to 51300 there are chances if the price moves Above This level please remember if the price moves Above This level the price can test the 51,000 to 51300 and again it can be another ABC see the idea here is uh since uh this pattern does not uh convinced with the end of a correction okay I believe it can be one more low it can be 1 2 3 4 5 also okay a mild low point but one low is highly possible and if it is 1 2 3 4 5 I shared the levels in previous video you can check that level but if it is ABC some further decline is highly possible we need to see the levels and uh this also can take one more ABC because complex are three three ways it can be one set of three and another set of three and one more set of three is possible if you check the broader markets uh I said uh a week before that the price can test this level okay if you remember uh I don't know which video I informed that maybe uh previous weekend I said the there are chances of the price to test this level here also some sort of incompletion here so there are higher chances of a b and c so if this happens even this Nifty and Bank Nifty also can follow this uh Direction anyway we will check each and every level the same setup will be found in the midcap also this is daily chart and possibly the correction should come below to this level if this is an um impulse so again the same method there is a possibility of a b and c to come below this level or equal to this level anyway we'll check the further levels based on Nifty and Bank Nifty and uh if the price comes like this see don't get confused okay I'm expecting one more low whether it is uh 1 2 3 4 5 or a b c please understand if it is 1 2 3 4 5 the five may stop here itself and uh the level has been mentioned in the previous video but if it is ABC it can stop here or go here if the price goes here check the impulse W whether it is impulse or corrective but if the price reject here itself then it is not an impulsive definitely the corrective is pending please understand this okay I'm assuming uh there are chances to come lower again but we need to check how the prices opens on Monday moving Above This level If It Moves Above This level it can fill the Gap there are chances right and then it may come lower again and uh there are chances of price reaching these two levels approximately 23650 to 23 365 okay these two levels can be an important support if the price takes ABC not 1 2 3 4 5 if the price moves as per expectation you need to check the how the bank Nifty is moving whether it is reaches the important support I think uh I have already informed the support levels for the bank Nifty already you can check the previous video maybe uh 488850 the was case 48400 and uh obviously if it is one 12 there are chances of uh coming to test this level I mean below this uh low of 17580 maybe to 177,00 we can get the clear levels once the price started to react so these are some anticipations now so when it can be invalidated only closing Above This Gap area with an impulsive structure that is as of now it is not impulsive this is not impulsive this price action not yet created a impulsive wave action this is a corrective pattern only that's why I'm saying that the correction is not yet over and even the broader markets I am saying uh from one week before itself that uh the correction still uh does not take the complete uh structure so possibility of one more low is higher in Bank Nifty already reaches 50% that is what I am little confused because Bank Nifty already reached an important support of 50% you know we identified 49660 and the low made was 49659 exactly we identify the low but there is a chance that the still the price may take a complex so if it is a complex and uh I don't believe even this price moves to this line maybe around 51,000 or 51,3 these are the possibilities if the price moves above this initial level the price starts Above This Gap it may fill and come lower we need to check how the price moves here when the uh downside projection is invalidated for Bank Nifty the price definitely should move Above This High Point okay since it is a complex it may take any shape so we need to give the extra cushion on upside here the 53 350 is the important level uh the bank Nifty should cross to invalidate the decline but probably we will know here what is happening so because when the price moves here the Nifty also will move here if it moves above that we can already we can invalidate the level of decline so that's the Assumption in indexes we need to compare with the other index so this is the update I want to share it with you see uh in a summary we okay this one um this one weekly chart of uh Nifty and Bank Nifty there is no intermarket Divergence developed so that's why I said uh I think the top has not yet made in the markets and uh you know we have identified combined other indices so everything seems to be in wave three and wave three is not at w so I think the one more high is also due but the thing is are we getting the one more high after this one more low that is what our doubt but my primary assumption there are high chances that one more low is due after that only the price may move and expectation is the price may even reach 26,00 in the Nifty so this is the update this week's precise level of example I will take it as a natural gas and as I said um elad W can be applied in any chart the two things you need is the price and the volume that is what important uh so elad can work in all the charts and even precisely see there are lot of times I showed the precise level of turning points my course objective itself is to identify each and every turning points I have shown lot of examples in the stocks indices and this time I show in the commodity stock see this one I shared with the one of our learner on 21st July see the next bounce can be fourth and levels are Mark the analysis is the price will move here and come one more lower and the price also marked to 1. n11 please understand all these are anticipated before the price even start moving that is what I'm saying waves will show the path to the price so what is your stategy now buy here for this Target and shot here for this target so identifying the turning points of three 4 and five I'll show the today's chart three where it Ender 2. 295 2.30 got it so buy Target here short Target is 1.91 one short 1.91 what you will do here here again buy right for the targets and other levels you should learn icon share here as I said in this video itself I cannot recommend anything I'm showing the uh reality of elad waves this is the proper way of using the elad waves see in one simple example you got uh buy Here shot here one more buy with precise levels if you want to learn the El in proper way in 100% practical way there is no Theory see if I say Theory and I can say in just 15 minutes but while you uh analyze the real time chart you will face lot of difficulties because I faced it so I know the difficulty in analyzing the Y time chart so that's why I created a course with 350 plus charts I believe uh no one uh did this elad wave course with this much examples and I regularly posting uh the videos even yesterday or day before yesterday I posted one video in the course uh where I explained everything I identified last week examples the exact uh point of reversal in Nifty and pull back in Nifty and one more low in Bank Nifty and some expectation why I said that uh this 49 uh 660 okay without using any fips if you see that uh video I just Mark like this I not even touch the FIB numbers few are uh sharing some negative comments but just imagine while the price was trading here I have that option of rejecting at 52300 and I said 49660 you can check that video the price exactly stopped here so I explained all those things with the reason there is the reason for everything in my course itself I said that there will be a reason for everything so what I teach in the waves for taking a trades you should have a reason why the reason will be fips and waves and you should have conviction so without uh these two things you cannot take a trade so it is not any anticipation this 49 660 also has a reason for it so I have shared that reason also and many things in the video so so the course will be always a continuing one every month uh one or two videos will be adding regularly for Real Time analysis and more practical learnings to the Learners so if you wish to learn the elad waves in a proper way 100% practical way uh you can register my course all the details in the description so if you like my uh work and if you like my approach to the markets and if you're interested in learning El waves and uh to receive the market updates twice a week you can subscribe the channel and share it with your friends fellow Traders or whoever interested in wave theory I hope uh you found value in this video so thank you so much trade safe happy weekend take care bye [Music]