EW analysis of Nifty

Nifty 50 IndexNSE

Description

⋅ Sep 24, 2017 5:05 PM

I am considering 2009 dip as the starting point for the analysis. So as per the analysis, sub wave iii of wave (v) of wave [iii] is either going on or completed.

now, wave iii is at the 100% fibo extension in.tradingview.com/x/Ht9HlEPf/.

here is a probable count for the fractals of wave iii,which suggests that wave iii is complete and iv is started https://here.https://in.tradingview.com/x/vVGsGLxT/,

regular bearish divergence formed recently, which is suggesting that wave iii is completed. in.tradingview.com/x/REK9x3se/,

occurrence of flat correction is high in wave iv, and it seems, a flat correction has started here. but flat corrections don't do deep retracement, here are the retracement levels to watch for

Comment

⋅ Sep 29, 2017 7:09 AM

price bounced from horizontal support

Comment

⋅ Oct 3, 2017 5:38 PM

probable move in weekly, in.tradingview.com/x/58piKQa5/,
wave iv can push the price to 9200-9600 level.

Comment

⋅ Oct 3, 2017 5:39 PM

after wave iv , last leg of impulse i.e. wave v can take the price towards 10800+ levels.

Comment

⋅ Oct 3, 2017 5:39 PM

here is the probable move in monthly time frame

Comment

⋅ Oct 12, 2017 2:31 AM

there was a nice bounce from the horizontal support,

Comment

⋅ Oct 12, 2017 2:34 AM

now nifty looks bearish, trend line support broken , then it tried to retest the broken trend line , and bearish engulfing formed while retesting it.

Comments

Raj10

⋅ Oct 3, 2017 6:24 PM

Nice work

ParamjitMahapatro

⋅ Oct 4, 2017 3:25 AM

@Raj10, thanks :)

Hulk703

⋅ Jan 2, 2018 1:03 PM

hello sir can you please advise me on this stock for elliotwave count

m.investing.com/equities/bupa-arabia-advanced-chart

Parasuram

⋅ Oct 12, 2017 3:21 AM

What about bearish engulifing on 4/09 and the price action next day.. whats your take now?

ParamjitMahapatro

⋅ Oct 12, 2017 3:27 AM

@Parasuram, well, at that time there was no trend line to provide resistance :) , see technical analysis is all about finding high probability trade set up, truth is even the best setup/patterns can fail, so we need to trade always with a proper sl.

Parasuram

⋅ Oct 12, 2017 3:28 AM

@ParamjitMahapatro, ok... agree with u completely on the probability trade and proper sl...