In this 45min chart impulse wave started from 15513 wave (1), (2), (3) and (4) is completed at 15817, 15746, 16702 and 16376 respectively. from 16376 61% projection of wave (5) is already achieved and it is in extended zone. After completion of wave (v) started from 17055 nifty can give sharp decline towards 16376.
See youtube on Elliott wave of nifty. 100 %achieved at 17340. Down from Monday expected. But if extend to 18000 all Elliot analysis will crush theirs knowledge
ngairangbamthajapungpha
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@ngairangbamthajapungpha, I will have to study more if not correct from my 100% 17340 level. May be open gap up monday and move to 16400 and down straight for 1.5 to 2 % correction expected on a single day. And further fall till Wednesday then retrace for one week and big fall retracement as per Fibonacci
JagdishKumarPahuja
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I do agree to your observations . Correction after wave 5 is expected in the form of A-B -C
Pl confirm what is the logic to choose 45 Minutes . Last time you said for" internal wave count"
smaller time frame is considered. Ok. can we do it on 30 minute or 15 minutes . what would be the effect
on the conclusions.
What about on hourly.
ckirtane
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17650 is minimum target after that only correction possible.
JagdishKumarPahuja
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It is very clear that nifty is in wave5. It’s target very near May be 17800 counted on daily time frame . But sir I want Your reason to count 45 minutes time from . What is the importance , mostly , it is taken hourly to count wave on smaller degree . Pl educate the logic . Thx
chirag_Khasiya
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@JagdishKumarPahuja, Not taken internally. Both will give you same result. Lower time frame are better to identify internal waves.