chirag_Khasiya

Nifty Elliott wave analysis for 10May 2021

NSE:NIFTY   Nifty 50 Index
In 2hour chart of nifty from 15431 it seems triple zigzag correction is running and final abc decline is pending from 15044. from 15044 to 14416 wave A is completed and from 14416 wave B is started. After completion of wave B, we can expect wave C decline below 14151.
For detail understanding kindly watch full video.
Thanks for watching

Comments

Hello Chirag, Time wise its looking like what you are suggesting. It would be more helpful for viewer if counting for this rise from 14416 is added if its in form of ABC or WXY.
I tried doing it but its a mess. Rise from 14416-14721 is clear 3 wave, but rise from 14462 is very difficult to count. What is your reading on counts from rise from 14462.
Thanks
+3 Reply
dhinesh_kumar saraltanwar
@saraltanwar, hope this helps you

Reply
saraltanwar dhinesh_kumar
@dhinesh_kumar, Hello Dinesh, count you presented is not a human work, its done by some software and as far as i understand these software are not accurate in counting these small time frames.
Still i would keep this count in mind while calculating moves from hereon.
Thanks
Reply
dhinesh_kumar saraltanwar
@saraltanwar, does it look like done by software ? Absolutely not!!

Why do you think human can't do this ? If have good understanding, anyone can do it. The wave count presented here is based on 1 minute time-frame and done by me, not some software.

BTW, that some software too written by some human only :).
Reply
saraltanwar dhinesh_kumar
@dhinesh_kumar, As there are too many irregular correction in your count and most of them are irregular running flat. Irregular flat indicates a greater thrust of the trend in direction of the irregular flat, but here whole process on upside is taking more time as suggested by Chirag, which is making this questinable.
Reply
dhinesh_kumar saraltanwar
@saraltanwar, yes you are correct, it's taking more time. But fall from feb'21 had been completed as triple-zigzag (no other possibilities like leading diagonal as wave Xs were not zigzags OR Z pending). And the up-move, so far did not create any doubts, it is clearly impulse. Also fall from 29 apr is double-zigzag. I just follows what wave count suggests. I'm sure I'm not doing any wave count error here.
Reply
India is reeling under Covid and share market is going up. I think simple analysis is wait for Covid to reduce then I think market will start going down . Till Covid cases are rising market is also going to move upwards . Seems illogical but it’s happening
+1 Reply
very good you're helpful knowledge thanks
+1 Reply
Very happy to see some healthy and logical discussion on this post👍
+1 Reply
sgxnifty 14979 aa gaya ge Monday gap down hoga kya?
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter