InsiderB

Nifty : Elliots & Corrective Waves Beginning !

NSE:NIFTY   Nifty 50 Index
The simplest Elliot wave count & its potential corrective waves are shown in the above Nifty chart. The corrective waves( abc ) just started, so it may or may not happen, we will findout soon what Nifty thinks. Before going into today;s analysis,
Yesterday's Cypher was still valid, it neither hit My stops or Targets. So what we can expect today ?

(i) There is possibility of Double Bottom around 8690's, but Nifty is Bearish , so it may turn risky
(ii) If you are planning to catch the direction of corrective waves, go down a timeframe (5mins) check for any priceaction based or triangle/wedge breakout entries { Can be aggressive, so define your risk}
( iii ) Even if the support of Nifty at 8690 breaks down, I will be looking for Longs till 8660's zone.

I will enter shorts only if I get chance with proper stops placement n risk-reward, else I will just sit n watch. No worries about following My plan. Even yesterday's BankNifty , we marked support zone , during the break of support -- I was just watching, bcos stoploss placement not insync with My Rules, so I was just watching BankNifty plummet, though we predicted yesterday morning. " Crazy Right ?? What kinda person predict & won't trade bcos his rules didn't allow ?? " - If you have these lines in your mind, Dear Friend... You have miles & miles to go in your trading career. Anyone got My point in last para or can someone say why I mentioned like that ?

Note :
(i) There are hidden things in above Nifty setup, Let's see who finds it out... { if needed will give clue later }
(ii) While posting charts I'm always in hurry, so there are lot of typo's/grammatical err's happening. Though I notice few n rectify, some err's stealthily gets away. So Bear with Me for those Err's !


Happy Trading !
Sep 28
Comment: Actually None found whats hidden... so here it is, almost gonna complete !

Sep 28
Comment: the correct version :
Sep 28
Comment: N Thats what you call Pattern Magic :)
Excellent chartwork and feedback Sir. Most important is your style and humour !! Makes it all the more interesting !!!
+1 Reply
InsiderB ShanTrader
Thank you...I'm glad you liked it, You just brightened up My Morning :)
Reply
Well good analysis what about tomorrow
+1 Reply
InsiderB ASKSANTHOSHPM
That will be before 9.15pm 2mrw
Reply
soibam666 InsiderB
sir, great analysis,thanks
today i am not trading in nifty,i apply your enter, exit.(booking point)
how amazing,very interesting,,
next time i surely follow you in nifty idea/

with regads
+1 Reply
InsiderB soibam666
Cool.. Always do own analysis for trading just cross check with My idea :) All the Best !
Reply
soibam666 InsiderB
sir, one day teach us how to draw bat diagram
+1 Reply
InsiderB soibam666
Sure when I get time, No assurances :)
Reply
Well done ,nice set up :),this is like ah-haa moment for me
+1 Reply
InsiderB ace2009
Thank you ! It happens, but not everyday :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out