Nifty Elliot Wave - Downmoves might come - 22nd April 2022
Hi
According to me we are in a negative phase of Nifty.
The gap between 17457.40 and 17414.70 - almost 43 points is not yet filled.
If the gap remains unfilled, it tells the earlier structure was dominant, in this case the down moves (bear Phase).
As of today, we can expect a gap down open, and then the small upmove, probably towards 17350-17375 approx.
As per my understanding, we have completed 1st wave from the highs of 17747 to recent lows of 16978 and now by today afternoon we might complete 2nd wave near 17350-17375.
After that we may have the big 3rd wave, which can give us a target of 16850 and below in coming days.
So Lighten your positions or keep a strict SL, take out the manual intervention during SL.
Its better to have some money for trading, then blowing off the account.
As of now....current TF (15 Mins) Macd is bullish, but todays gapdown will change the scenario.
1 Hour TF Macd is below Zero Line, which shows that we are still not out of the woods.
Disc : For Education Purpose only.
According to me we are in a negative phase of Nifty.
The gap between 17457.40 and 17414.70 - almost 43 points is not yet filled.
If the gap remains unfilled, it tells the earlier structure was dominant, in this case the down moves (bear Phase).
As of today, we can expect a gap down open, and then the small upmove, probably towards 17350-17375 approx.
As per my understanding, we have completed 1st wave from the highs of 17747 to recent lows of 16978 and now by today afternoon we might complete 2nd wave near 17350-17375.
After that we may have the big 3rd wave, which can give us a target of 16850 and below in coming days.
So Lighten your positions or keep a strict SL, take out the manual intervention during SL.
Its better to have some money for trading, then blowing off the account.
As of now....current TF (15 Mins) Macd is bullish, but todays gapdown will change the scenario.
1 Hour TF Macd is below Zero Line, which shows that we are still not out of the woods.
Disc : For Education Purpose only.
Trade active:
Nfity could not scale even 17315 and from there we had a nice down moves....expecting some more o n monday!! Remember 16950.......HNS Pattern.....