#Nifty || 4th July 2022

NSE:NIFTY   Nifty 50 Index
Still looking for deep correction? - It has just started.

Is wave 4 internal done? Doesn't seem so.

Looks like Nifty has not completed Wave B because the count still needs 5th wave

Although 4th wave looks extended but 5th wave will go at least to 3rd wave (if not more)

So what is best way to trade?
Wait for gap down - enter and exit at key levels

Key points:
1. Weak Rupee
2. Weak global cues
3. Structure on TA for major lows pending

Falcon Waves chart on Nifty Spot

Alternative Live Market Count for 4th July 2022

Since price is moving up and I re-looked at the chart. it seems that this was not 4th wave (should have known since it crossed 38.2% long back)

If B is completed, then we are looking at C. (blue C)
Blue C can end at 15877, and after that downward pressure will continue.
Nifty has not been easy lately, complex corrections and gap downs were not that easy read on 1 H time frame.

I still think Falcon Waves is correct and it gives a sense of direction in this chaos.

I hope you are liking this analysis.

The white 1,2,3,4,5 mentioned in above chart is a 5 waves Falcon Consolidation that is always seen after Falcon D wave.
When I look at Daily chart The blue ABC comes from daily, it looks like this
C wave can finish around 15900 but should happen today or tomorrow, after that fall is eminent.
Trade closed: target reached:
Wave C completed? - Target achieved.
Now going for green B

Please note: I have not shared any chart for 5th July as 4th July chart was valid. During live markets, I always try to correct counts etc. whenever required.

For now Falcon Waves blue ABC completed, Green A stands completed.
Now we will go for Green B - see the two charts above.

The green colour is my code for weekly time frame. This green B will comprise of ABC Blue waves from daily.

So we go down in green b wave (ABC pattern) followed by up for green C later in July.

- Always use stop loss. Falcon Waves is not Elliott Waves.

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