NIFTY-ELLIOT WAVE Perspective
Updated
If we consider the last up move to be 1 then we are in an impulsive move upward.
We have completed 1 and going for 2 out of which it looks a has been completed and will go for b upward.
Then a sharp reversal towards 17050 which is at 61.8% level of wave 1.
***Note: wave 2 can retrace up to 99% of wave 1 and below 100% the recount will take place.
This analysis will be invalidated below 16782 level which is recent lowest low.
This is not a buy sell recommendation.
For update on my chart see the status.
Regards
We have completed 1 and going for 2 out of which it looks a has been completed and will go for b upward.
Then a sharp reversal towards 17050 which is at 61.8% level of wave 1.
***Note: wave 2 can retrace up to 99% of wave 1 and below 100% the recount will take place.
This analysis will be invalidated below 16782 level which is recent lowest low.
This is not a buy sell recommendation.
For update on my chart see the status.
Regards
Note
SEEMS diagonal will invalidate today...
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