The road ahead for Nifty

NSE:NIFTY   Nifty 50 Index
260 4
Is Nifty going to touch 11 k ?

Is Nifty going to touch 10 K ?

These are the 2 probable questions most of the traders have in their mind !!

Let me try to answer by the wave pattern

As per the wave possibilities which i see both are possible

If the present up-move goes as Wave B - Then it can surely touch 11K within the next 10 trading days

following which - a fierce wave C can unleash next month - around the time of election result which can take us down to 10k

All wave counts are work in progress & are meant to aid trading
I use Elliott wave count to help in my trading &i am willing to accept i could be wrong
& knowing before hand what i will do when i am proved wrong...

The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin )
Please check if this is B wave or C wave. Consider 10140 to 10700 as wave A , 10700 to 10040 as wave B, 10040 to what is happening wave C. Check length of wave b in comparison to wave A(125% retracement) and check rules for length of wave c in this scenario.

Also the wave wave 1 that you are considering did it make a higher bottom to be considered as wave 1. Please check your count.
joel-vg snazre

Thanks for the write up , i looked @ your charts & i really appreciate your alternate point of view

The beauty of elliott waves lies in its many alternate views & Discussion

Elliott Waves, provide ourselves with a framework to base our trades upon.

Elliott Wave analysis is an approach that allows us to adjust our market expectation as we get new clues. It is a dynamic approach as i see

I follow Robert miner's approach in elliott wave & i shall provide you with the sub divisions in wave 1 on a one minute chart
snazre joel-vg
@joel-vg, Yes I do agree with your views. The purpose of publishing ideas is to share and get different view points.

I follow Glenn Neely
joel-vg snazre
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out