dhinesh_kumar

Elliott wave analysis # fall on the card ??

NSE:NIFTY   Nifty 50 Index
Final part of up-move is in progress from day low. It is an impulse and wave 1 2 completed and wave 3 is in progress.

Once this impulse completes, wave B of (2) also will be completing. After then, we can expect good fall for wave C of (2).

BankNifty update:

Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Comment: Now wave v of 5 from day low is in progress. Last up-leg of this upmove.
Comment: Looks like maybe still wave iv of 5 is in progress
Comment: if so, day low will be broken
Comment: Wave B of (2) is completing here
Comment: Today high in both Nifty and Banknifty is invalidate level for SHORT.
Comment: Today top is little bit complex. Wave 5 completed at 15734 and 35811. Fall from there is impulse so further fall confirmed.

Target 1: 15250 and 33800
Target 2: 15000 and 33300

Invalidate level for short: 15734 and 35811

Comments

does it look like impulse?
Reply
dhinesh_kumar Parasuram
@Parasuram, In nifty, the fall can be either ABC or impulse. From day high, looks like wave A completed and Wave C is in progress.

In Banknifty, the fall should be impulse and it is impulse from day high. Wave 1 of C is completed and wave 3 is in progress
Reply
It will not fall before 16200 bro, simple Fibonacci, no need to complicate
Reply
Iv based target this month lower side 14867.30
Reply
I think correction start tomorrow and 12 June 14950 come
Reply
If wave B of (2) had completed, Wave C of (2) a downward correction wave had commenced its journey of deep correction?
Reply
dhinesh_kumar kandaswamyp
@kandaswamyp, yes, wave B completed and wave c began.
Reply
may be w5.1 and w5.2 may complete today
Reply
dhinesh_kumar jayant999
@jayant999, Not expecting big move for wave 5. Looks like completed or almost completed (5.v.v progress)
Reply
huge call writing @ 15700 today
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter