Nifty view in 15 minutes time frame
Updated
Beginning the count from July 23, 2024, Nifty seems to have completed Waves 1, 2, and 3 on a 15 minutes time frame chart.
Right now, Nifty is completing Wave 4.
Wave 2 was a ZigZag correction, and the ongoing Wave 4 is Flat correction. Wave A & B of Wave seems to be over and Nifty is getting ready for Wave C. The expected target of Wave C is at least 61.8%.
When Wave 2 is ZigZag, the expected time for completion of Wave 4 is at least twice of Wave 2.
Will Nifty follow this classic Eliott wave rule? Only time will tell.
Right now, Nifty is completing Wave 4.
Wave 2 was a ZigZag correction, and the ongoing Wave 4 is Flat correction. Wave A & B of Wave seems to be over and Nifty is getting ready for Wave C. The expected target of Wave C is at least 61.8%.
When Wave 2 is ZigZag, the expected time for completion of Wave 4 is at least twice of Wave 2.
Will Nifty follow this classic Eliott wave rule? Only time will tell.
Comment
Within half an hour of publishing the above, Nifty almost hit the 61.8% mark at around 24,829. Time to watch price action to see if this is where C gets completed or will it extend to 100%.
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