Hello Fellow Traders,
This is my elliott wave analysis on Nifty 50 Index.
I am expecting nifty to touch 20500 in this 5th wave.
As per my learnings 4th wave is just completed on 18th Aug 2023;
if there is any room still to correct price can come till 18888 as wave 4 should not come in to range of wave 1 otherwise 5th wave journey is already started
once Price resumes it can reach till 20492.
This is my elliott wave analysis on Nifty 50 Index.
I am expecting nifty to touch 20500 in this 5th wave.
As per my learnings 4th wave is just completed on 18th Aug 2023;
if there is any room still to correct price can come till 18888 as wave 4 should not come in to range of wave 1 otherwise 5th wave journey is already started
once Price resumes it can reach till 20492.
Comment:
218 points up movement observed.
Comment:
going towards 20492. Let us observe
Comment:
Todays Deep fall of price can give us an idea that wave 2 is forming; This WAVE can last till 19840 (bare minimum 0.382); 19605(0.618) 19523(0.7) 19223 ( Maximum 0.99) before NIFTY takes a WAVE3.
WAVE2 is corrective with a,b,c strucutre. if we consider 279 point drop as WAVE A in WAVE 2 WAVE C can complete at 19840.
Let us observe
WAVE2 is corrective with a,b,c strucutre. if we consider 279 point drop as WAVE A in WAVE 2 WAVE C can complete at 19840.
Let us observe
Comment:
I am expecting NIFTY touches or take reversals (uptrend) before 19604.80. On 75 minutes time frame it is already in WAVE 4.. if it is successfully takes uptrend above 19604.80 WAVE 5 completes at 20604.30
it is a different dimension to our analysis. as of now we are just using daily time frame. including 75 minutes time frame gave me this idea. Let us observe.
it is a different dimension to our analysis. as of now we are just using daily time frame. including 75 minutes time frame gave me this idea. Let us observe.