Today doing a different analysis - Considering the recent tops.
We are doing 2 analysis, From recent 2 tops
1. Elliot wave count from 12103 top , Here we plotted ABC, our A-B are clear, and trying to plot C and the target.
2. Elliot wave count from 11982 top, Here we plotted 1-2-3-4-5, Our 1-2-3-4 are clear and trying to plot 5 and the target.
(The 2nd analysis does not look proper as 11982 was made as 4 cycle from 12103 top. But if we take that as zero, Recent top )
Previously we had done Elliot analysis Part 3 where we saw the clear indication of short time market up movement. ( or the opportunity to sell from the top ? ).
Analysis 1 result:
- Got Fib Ratio Target for wave 5 which looks should reach 10527. If we see the chart with Option 1 marking, the fib ratios are looking ideal.
Analysis 2 result:
- Got AB-C Target, C should reach 10513-10598.
( Assumption 1. If C = A, 2. C Direction is based on line connecting lower lows of C )
What we learn from this analysis : The grand cycle level analysis could need correction. The last leg part where we had marked 1,2,3,4,5 and taking 12102 as the top 5, the subwave 1 of that needs to be corrected, We are able to move subwave 1 to 10300 odd, but below that, we can not move 1 to downside. That means if Nifty is moving down below 11500, we can invalidate the Elliot wave markings, It will be incorrect. So The perspective of subwave 3 running could change and 1 will actually move up. That will bring us ? Joy why ? If we are moving 1 up, then we could be making the 2, and 3 will be steep and moving upwards sharp. That means, we will get strong news after all this which could bring Nifty sharply upwards. Those are assumptions.
Purpose of the analysis : We started learning Elliot wave and trying to predict market based on elliot wave only. From our part1-part4, we are learning and correcting ourselves. Correcting towards ? The other ways to use elliot or the alternatives
References to our previous posts :
-----------------------------------------------------
1. Elliot wave analysis of Nifty part 3
2. Will Nifty repeat 2010 trend. This was our initial analysis when started learning technicals. Tried to find the previous instance where similar pattern is there and if the repeatation of the same will occur or not. Based on 2010 trend on lower degree, the target and bearishness analysis was done, much before, we imagined !
We are doing 2 analysis, From recent 2 tops
1. Elliot wave count from 12103 top , Here we plotted ABC, our A-B are clear, and trying to plot C and the target.
2. Elliot wave count from 11982 top, Here we plotted 1-2-3-4-5, Our 1-2-3-4 are clear and trying to plot 5 and the target.
(The 2nd analysis does not look proper as 11982 was made as 4 cycle from 12103 top. But if we take that as zero, Recent top )
Previously we had done Elliot analysis Part 3 where we saw the clear indication of short time market up movement. ( or the opportunity to sell from the top ? ).
Analysis 1 result:
- Got Fib Ratio Target for wave 5 which looks should reach 10527. If we see the chart with Option 1 marking, the fib ratios are looking ideal.
Analysis 2 result:
- Got AB-C Target, C should reach 10513-10598.
( Assumption 1. If C = A, 2. C Direction is based on line connecting lower lows of C )
What we learn from this analysis : The grand cycle level analysis could need correction. The last leg part where we had marked 1,2,3,4,5 and taking 12102 as the top 5, the subwave 1 of that needs to be corrected, We are able to move subwave 1 to 10300 odd, but below that, we can not move 1 to downside. That means if Nifty is moving down below 11500, we can invalidate the Elliot wave markings, It will be incorrect. So The perspective of subwave 3 running could change and 1 will actually move up. That will bring us ? Joy why ? If we are moving 1 up, then we could be making the 2, and 3 will be steep and moving upwards sharp. That means, we will get strong news after all this which could bring Nifty sharply upwards. Those are assumptions.
Purpose of the analysis : We started learning Elliot wave and trying to predict market based on elliot wave only. From our part1-part4, we are learning and correcting ourselves. Correcting towards ? The other ways to use elliot or the alternatives
References to our previous posts :
-----------------------------------------------------
1. Elliot wave analysis of Nifty part 3
2. Will Nifty repeat 2010 trend. This was our initial analysis when started learning technicals. Tried to find the previous instance where similar pattern is there and if the repeatation of the same will occur or not. Based on 2010 trend on lower degree, the target and bearishness analysis was done, much before, we imagined !
