Hello everyone, we were bullish for nifty since a long time, I always suggest predict little, just go with the flow. As a trader, you shouldn't worry where Nifty50 is heading, you just trade the trend. Find opportunities to go in the direction. Look for precise entry and exit.
Right now, longer time frame suggests that the bullish trend is still intact and if sustains above 14055, then doors for 14589 will open. For the people who do not understand wave analysis, there is a lot to come on upside, you don't have to scratch your head to understand above analysis. Keep it simple.
In a lower time frame, it seems like an impulsive wave has just ended and the bulls will lose some control and nifty50 might dip towards the mentioned support levels downside.
Here is the chart for the same.
Do see my other ideas for highly accurate trade setups and simple analysis. If you like my charts please give a like and support me.
Regards
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Gaps up, opens the door for the upper target. I will look for bullish setup.
Sir - I have been following you for some time and your analysis is very enlightening and educational. Your target of 14055 has come that you said some weeks back. Congrats!
Are the 3 support levels are 13970/13880/13770? also my number came out to be 14330 and is little lower than 14589 - Would you be kind enough to share some details behind the 14589 - just for learning purpose ?
yogi_sharma_elliottician
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@selfffffff Yes support levels are the same you mentioned, sorry I forgot to mention on the description. You can come up with levels with different methods, example fibonacci, trendlines/ channel, or Gann. This one is used by Gann method and fibonacci method. Again there are various way to apply Gann and Fibonacci. I choose what fits for me. You can choose what fits for you. :)
BharadwajBharaata
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The wave analysis is not required, I guess. as long as FOLLARS are sloshing in the world, the market will keep going up, unless there is another lock down. Millions of death will not bring the market down. There has to be a LOCKDOWN, longer than expected.
The wave analysis has not worked exactly, The corrective B wave has gone above the start of A. I may be wrong.
YES< the DOLLAR WAVE has worked. Free MONEY = Newer Highs.
yogi_sharma_elliottician
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@BharadwajBharaata Yes, so I mentioned you don't have to scratch your head, for the new comers. But wave counting might bring some confidence and can be good for educational purpose also
ckirtane
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please put exact levels/points(like 13700/13560 etc) of support shown in second chart.just drawing lines is not enough.Secondly you are not sure whether nifty will go up to14589 first or come down &correct(how much)any one can write like this.