Nifty 1hour chart is showing that last abc decline of triple zigzag correction may complete below 14151. And in 15min chart also bounce from 14416 is looks like corrective so overall we are expecting decline in nifty from present level or from given resistance level in chart. For detail understanding kindly watch video. Thanks for watching
If tmrw nifty gap ups and crosses 14800 as per you resitiance levels, then we must consider moving towards upper channel breakout near 14990 levles?
Kakerot
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@VishalSancheti, bhai mere 4.12 lakh covid cases all time high in whole world. kya soch k kya soch k nifty will go above 15000 levels or up. downside open he at least once towards 13800-14k
starttrade2020
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@VishalSancheti, Bro you are expecting that channel breakout since 2 months I think but I am afraid it will break lower channel any day and then regression channel will come down with more speed. Expect 12500 in 6 months in whatever channel breakout,breakdown.
VishalSancheti
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@starttrade2020 your viewpoint can be possible, but i am surprised to see that you yourself posting wedge breakout on upside at 15750 levels on shreekrishna's nifty posts?
starttrade2020
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@VishalSancheti, that failed itself when nifty dint hold 15000. I think it more of sideways as suggested by shreekrishna sir as of now.
JagdishKumarPahuja
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This is what confused in eave analysis . If you ask 10 analysts about the wave count , you would get 10 different answers. What to believe & how to trade . Any comments .
ygoogly
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Why W-X-Y-X-Z? Why not A-B-C-D-E which seems to be already complete and NIFTY is ready for 5th wave impulse?
chirag_Khasiya
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@ygoogly, Y googly why not Google :) Just kidding....... In don't use ABCDE.
ygoogly
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@chirag_Khasiya, I also assumed this correction to be W-X-Y-X-Z. However, now I look at it again and realize that there is a strong possibility of A-B-C-D-E. First reason, ABCDE usually appears in 4th wave. This is 4th wave of higher degree 5th wave. Second reason, no major downside and there are swings on either side for a while. Third reason, ABCDE is followed by a strong remaining last wave of higher degree impulse and in current scenario, 5th wave of higher degree 5th wave is pending. If one considers ABCDE possibility, one will realize that this pending 5th wave is already underway since last 2 days. Today's movement will confirm whether this is the case or not.