Nifty is progressing through its Elliott Wave cycle and is now on its way to complete the final Wave 5 🚀, projected near the 25,000 - 25,300 Levels
🔎 Journey so far:
1️⃣ Bigger Wave 1 (Wave count in Pink color): Started from the low at 22,182 📍, rallying strongly up to the 22,800 zone from 2nd April to 6th April.
2️⃣ Wave 2: Pulled back 🔄, retracing close to the 38.2% level at 22,550 Level, setting the foundation for the next bullish leg.
3️⃣ Wave 3: The powerhouse ⚡, extended sharply to 327% of Wave 1, and travelled from 22,550–24,600, showing strong momentum and volume.
Fib levels not plotted for the sake of clarity in the chart.
We have witnessed another 5 subwave impulse within Bigger Wave 3.
--> Subwave 3 travelled 300% of Subwave 1.
---> Since Subwave 3 was extended, Subwave 5 ended as normal at 61.80%
4️⃣ Wave 4: A corrective phase 📉, retracing from 24,120 all the way down to 23,820 level, consolidating before the final push.
5️⃣ Wave 5: Now unfolding 🚀, projected to complete near 25,000 - 25,300 Levels, marking the termination of the bigger impulse cycle.
📈 Bias: Short‑term bullish until Wave 5 completes
🎯 Key Level: 25,000 minimum for final Wave 5 termination
⚠️ This is not a trade call and is shared purely for educational purposes.
🔎 Journey so far:
1️⃣ Bigger Wave 1 (Wave count in Pink color): Started from the low at 22,182 📍, rallying strongly up to the 22,800 zone from 2nd April to 6th April.
2️⃣ Wave 2: Pulled back 🔄, retracing close to the 38.2% level at 22,550 Level, setting the foundation for the next bullish leg.
3️⃣ Wave 3: The powerhouse ⚡, extended sharply to 327% of Wave 1, and travelled from 22,550–24,600, showing strong momentum and volume.
Fib levels not plotted for the sake of clarity in the chart.
We have witnessed another 5 subwave impulse within Bigger Wave 3.
--> Subwave 3 travelled 300% of Subwave 1.
---> Since Subwave 3 was extended, Subwave 5 ended as normal at 61.80%
4️⃣ Wave 4: A corrective phase 📉, retracing from 24,120 all the way down to 23,820 level, consolidating before the final push.
5️⃣ Wave 5: Now unfolding 🚀, projected to complete near 25,000 - 25,300 Levels, marking the termination of the bigger impulse cycle.
📈 Bias: Short‑term bullish until Wave 5 completes
🎯 Key Level: 25,000 minimum for final Wave 5 termination
⚠️ This is not a trade call and is shared purely for educational purposes.
Trade closed: target reached
Wave 5 completed as Truncated diagonal wave and did not travel beyond Wave 3
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.