NIFTY Analysis - Probable Elliott Wave Counts

NSE:NIFTY   Nifty 50 Index
Major Degree

0 to 1

This degree of Elliott Wave from 0 to 1 probably started in May 2017 @ 9341 and ended at 10136 in August.

Total Points were 10136- 9341 = 795

Time Taken was 2 Months +

1 to 2

This one started in August @ 10136 and ended at 9685 in August

Total Points were 10136 – 9685 = 451 which is close to 0.56%

Time Taken was 10 days +

2 to 3 (In Progress)

Wave 3 being the largest wave of Elliott Wave , it could be equal to wave 1 or 1.382 % of Wave1 or 1.5 % of Wave1 or 1.618% of Wave1.

Having said that, 1097. 1192, 1286 from the end of Elliott Wave 2 which is 9685. This means, Wave 3 would probably end at 10782 (1.382%), 10877 (1.5%), 10968 (1.618%).

Time needed for wave 3 would most probably equal to the time taken which is 2 months. So I am anticipating that it would take another two months to complete wave 3.

There are additional degrees of Elliott Wave counts shown in the image. But it always good to go with higher degree to avoid noise.

Disclaimer: This analysis is only for Education and analysis purpose. Do Not take it as a trading recommendation.
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