bimalscave

ELLIOT FORECAST FOR 15 JUL 20

NSE:NIFTY   Nifty 50 Index
ANALYSIS BASED ON TECHNICAL PARAMETERS (NO NOISE)
NIFTY WITH A THROW-UP MADE A SHARP CORRECTION...BUT IT MAY NOT BE A OVERALL TREND REVERSAL...MY PERCEPTION...TOMORROW NIFTY WILL BE IN CORRECTIVE MODE AND WILL REMAIN VOLATILE...AND MAY FILL TODAY'S GAP CREATED.
ASSIMILATION ONLY FOR EDUCATIONAL PURPOSE
WATCH OUT FOR IMPORTANT LEVELS...
DISCLAIMER: TRADE AS PER SELF RISK ASSESSMENT.

Comments

Correct
Reply
Hi, If C target is reached as per your expectation which is wave 4 start then wave 4 will enter in wave 3 territory which is against the EW rules. Prediction was good for today. can you explain the wave 4 going into wave 3. Thanks.
Reply
sandhikar.saurabh sandhikar.saurabh
Thats why 10550 was held yesterday and it didn't cross today also. if 10550 is broken then EW rules are broken. So wave 5 will be incomplete.
Reply
bimalscave sandhikar.saurabh
@sandhikar.saurabh, PLEASE SEE THE RELEVANT DEGREE.
Reply
bimalscave sandhikar.saurabh
@sandhikar.saurabh,buddy wave 4 always enter into wave 3 territory..its for wave 1...that's also legitimate with exception....
Reply
@bimalscave, Oh I'm new to EW,i got confused. Great analysis.Thank you :)
Reply
Sirji, My feeling is that Nifty low is not yet done.. My expectation is that Nifty should make a low of around 10545-10530 tomorrow before moving up.. I agree with you and I also feel that Nifty's final top is not done. The downmove we are witnessing is probably a C wave of an irregular correction and the 5th minute wave (of the move that started from 10195) is yet to to start..
Reply
bimalscave practicalbull.mmb
@practicalbull.mmb, yeah low as you mentioned may touch...secondly ab raha ajj ka scene...picture abhi baki hai dost.probably european mkt have topped...nifty mirroring american mkt with a week lag...baki samajh jao...samajhdar ko ishara hi kafi hai...notwithstanding complements you have good knowledge and good understanding of elliot theory..
Reply
@bimalscave, No sir.. My understanding is probably 20% at best.. But more than just EW, I think I also need to learn how to trade.. I'm missing something important and am not able to identify it.. I had purchased several lots of 10700 PE 16th July today morning at an average price of 41.. Exited at 29.. After I exited, the put made a low of 19 and then a high of 126..
Had I timed my entry correctly, I would nt have booked loss and would instead have made good money.. :(
I'm hoping that I'll be able to pick up things sooner than later :)
Reply
bimalscave practicalbull.mmb
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out