NeeteshJain
Long

NIFTY - ELLIOTT WAVE ANALYSIS

NSE:NIFTY   Nifty 50 Index
948 20 13
It is been observed on a hourly chart that the price action was correcting in a flat correction as per the Elliott Waves principles. It is a three waves structures marked as A,B,C. Now, after the completion of the sideway move or a flat correction , the price action moved sharply up to previous resistance levels but failed to break it and then retraces above the C leg, forming a higher low. Now, it is a indicative of prior trend continuation or uptrend.

Now, if Nifty             stays above 8900 levels tomorrow then we shall surely see 9000+ levels next week.

In case, it goes beyond the 8900 levels then there will be a change in trend and it may take the price action further down to 8800-8780 levels.

I would appreciate if you could share your views on the above matter and also your analysis on Nifty             in coming days. It will help traders to gain knowledge and an idea of the market.

Thanks,
Comment: Rally may go unto 9050 levels. Regards
Comment: Consolidating with a Triangle Formation

snapshot



Regards
Trade closed: target reached: Breakout Achieved Successfully, Regards
Hi Neeteshji, its been some time since you did a chart on NIFTY. Your last chart in March was bang on target and its been moving up now for a while since it took a major break. Can you please have a look whenever time permits, as i have some thoughts now that its near a crucial top. Thank you.
+1 Reply
ShanTrader PRO ShanTrader
I meant in respect with a Nifty using EWT Analysis, as you have been posting at least a chart based on other analytical tools.
Reply
@ShanTrader, Sure, I shall consider it in the next posting. Thanks
Reply
hi @NeeteshJain what fibonachi ratio u take to consider its 2nd wave of 1st 3rd wave of 2nd 4th wave of 3rd and finally 5th wave in ELLIOT WAVE .??
my second question is you use combination of fibonachi retacement and extension to predict elliot wave ?
thanks?
Reply
NeeteshJain TOP GaneshChoudhry
@GaneshChoudhry, Wave2 Fibs would be anything above .50 Levels. Wave 3 Fibs would be above 1.618 extension of Wave 1. Yes I use both Fibs and extension fibs to predict next elliott wave. Regards
Reply
why you see hourly chart, do you carefully see for trend revesal signal?
+1 Reply
@nalinakshi, Yes and also to look for any potential pattern formation. Thanks, Regards
Reply
now, 3rd wave will perform from Elliot Wave to Election(result) Wave!
+1 Reply
wonderful EW pattern drawn.
+1 Reply
@rajesh2467, I hope you it adds value to your trading experience. Thanks, Regards
Reply
English (IN)
English
English (UK)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out