Trade Setup – NSE NIFTY FUT, BPCL FUT & More

NSE KOTAKBANK FUT – Elliott Wave Projection

Timeframe: Daily
NSE KOTAKBANK FUT, on the daily timeframe, has just broken out 200 EMA and is taking resistance from 20 EMA. At this glance, it looks like the price has accomplished wave C at 1946, and is preparing for the final wave, an impulse cycle. But the current upward move can be part of the corrective wave 4 of wave C at 1946.3. Wave C = wave A at 1995.9.

Whether it’s Wave 3 or Wave C of the correction, we have an intraday opportunity with a strict stop-loss. If price breaks above 2015, traders can long for the following targets: 2040 – 2061 – 2085+. Free subscribers can take the previous day’s low as an invalidation level.

We will update further information for premium members soon.

NSE NIFTY FUT – Intraday Outlook

Yesterday, NSE NIFTY FUT, on the daily chart, witnessed a strong upward move, marked by a green candle and a gap-up opening that successfully broke above the 20/50 EMA. The ATR at 212.37 reflects elevated volatility, while the ADX at 28.46 indicates a strengthening trend momentum.

A brief retracement could pave the way for bullish continuation in intraday. The immediate target lies near 25,074 at the daily resistance line. A breakout above 25,075 may extend the rally towards 25,200 and beyond. 24900 is a strong support for the intraday prices. Intraday targets for the bullish scenario are 25,027 – 25,075 – 25,110+. We may see a rally towards 25,150 – 25,200 in this week.

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NSE BPCL FUT – Trading Insight

NSE BPCL FUT, on the daily chart, touched a new low at 306.95 before initiating an upward move towards 331. It later formed a higher low at 313.5, and the price now appears poised for another upward move.ATR 7.72 shows moderate volatility, while ADX 17.45 signals a weak trend. The price is trading above the 200 EMA and has just broken out of the 100 EMA.

Price seems to have completed Wave 2 and is setting up for Wave 3. The alternative count for this formation is the A-B-C formation. A sustained move above 319 can open long opportunities with targets at 325 – 331 – 336+. Free subscribers can take the previous day’s low as an invalidation level.

Premium subscribers will have access to further information soon.

NSE ADANIPORTS – Swing Setup 

NSE CIPLA FUT – Premium Setup