NIFTY
Lets see ((iii)) wave and internal sub-wave (v) has completed the current situation of the wave cycle.
After the accomplishment of the complex Triple Zigzag W-X-Y-X-Z formation, the price has started an impulsive wave and it has broken the X wave.
X was holder the correction and breakout of X wave increased public participant in Nifty 50
Wave formation of the impulsive waves of wave ((V)).
Wave ((i)) is leading diagonal.
Wave ((ii)) is a zigzag correction abc retraced 0.382%.
Wave ((iii)) is a five impulse wave where sub-wave (v) have completed and extended 2.618% at 18358 of wave ((i))
price high 18350.
Sub-Wave of wave ((iii)) or internals wave are
wave (i) is an impulse
wave (ii) is a time correction and retraced 0.23% and consolidations near breakout of the channel (Zigzag W-X-Y-X-Z).
wave (iii) is a five impulse wave structure and extended 2.618% at 17948 of wave (i) price high 17943.
wave (iv) is flat abc correction C point truncate above A point and retraced 0.382% of wave (iii).
wave (v) is a five impulse wave where wave ((iii)) has completed 18350.
After the completion of Wave ((iii)) and internal wave (v)
The price stated the correction wave ((iv)). The question is how to know the corrective wave ((iv)) is started two confirmation see today prices break down of lower level of channel and close below the previous swing low or In this Wave Structure, every 3rd impulse wave internal or higher degree wave completed Fibonacci extension 2.618% on 1hrs time frames 3rd wave completed 18350. the requirement of correction for 4th wave it anticipates 0.382% 17776 or 0.618% 17420.
4th corrective may be Zigzag so cautious and keep in mind Wave X Breakout level acts as a Supporting level.
Next Time we Discuses about wave ((V)) or when complete wave ((iv)) what situation occurs in the next trading session.
Disclaimer
This is only for educational purposes before trade please advise your financial adviser.
Thanks our Teams
Comment:
the requirement of correction for 4th wave it anticipates 0.382% 17776 reached