Today's session draws attention from technical analysts and wave traders, focusing on key levels and emerging wave patterns.

Why It Matters

Technical analysis provides context for spotting potential entry and exit points and understanding the current market structure.

In ES futures, traders note resistance at 7595.75/7629.50 and support at 7448.75/7405.50. The trend turned bearish after losing the bias line, with expanding ranges ahead of OPEX. Terminally nested rising waves C{-7}, C{-6}, and D{-5} remain in play.

Nifty shows a medium-term uptrend in wave C targeting 24728. Support at the orange level around 24100, with intraday upside target hit at 24367+.

Ethereum displays two overlapping corrections, flat ABC and ongoing zigzag ABC. A major wave C impulsive structure is forming, with short setups sought on wave 2 rebound.

Additional mentions include $GRAPHITE showing Inverse H&S with wave 3 in progress, and $PM near a support zone in an Elliott Wave setup.

The Bottom Line

Today's technical conversation centers on critical levels in major indices and specific wave structures, with caution emphasized ahead of the weekend.