This study is for education purpose only!
Hello Investors, i have published 30min chart of Banknifty. Here i have applied Elliott Wave Analysis and other trading strategies by these we can find probable moves of banknifty.
Key principles of Elliott Wave Analysis:
Wave Structure: According to Elliott Wave Theory, price movements in financial markets consist of a series of waves that can be categorized into two main types: impulsive waves and corrective waves.
Impulsive Waves: These are the waves that move in the direction of the dominant trend. They are labeled with numbers (1, 2, 3, 4, 5) and represent the primary direction of the market.
Corrective Waves: These waves move against the dominant trend and are labeled with letters (A, B, C). They represent temporary counter-trend movements.
Counting Waves: Elliott Wave analysts look for patterns and attempt to count the waves to determine where a particular financial market is within its larger trend. The complete cycle consists of five impulsive waves (1, 2, 3, 4, 5) followed by three corrective waves (A, B, C). This pattern is then repeated in different degrees within the larger trend.
Hello Investors, i have published 30min chart of Banknifty. Here i have applied Elliott Wave Analysis and other trading strategies by these we can find probable moves of banknifty.
Key principles of Elliott Wave Analysis:
Wave Structure: According to Elliott Wave Theory, price movements in financial markets consist of a series of waves that can be categorized into two main types: impulsive waves and corrective waves.
Impulsive Waves: These are the waves that move in the direction of the dominant trend. They are labeled with numbers (1, 2, 3, 4, 5) and represent the primary direction of the market.
Corrective Waves: These waves move against the dominant trend and are labeled with letters (A, B, C). They represent temporary counter-trend movements.
Counting Waves: Elliott Wave analysts look for patterns and attempt to count the waves to determine where a particular financial market is within its larger trend. The complete cycle consists of five impulsive waves (1, 2, 3, 4, 5) followed by three corrective waves (A, B, C). This pattern is then repeated in different degrees within the larger trend.
