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dhinesh_kumar
Jun 2, 2021 4:02 PM

Elliott wave analysis # fall on the card ?? 

NSE:NIFTY30
Nifty 50 IndexNSE

Description

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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

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Now wave v of 5 from day low is in progress. Last up-leg of this upmove.

Comment

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Looks like maybe still wave iv of 5 is in progress

Comment

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if so, day low will be broken

Comment

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Wave B of (2) is completing here

Comment

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Today high in both Nifty and Banknifty is invalidate level for SHORT.

Comment

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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
Elliott WaveWave AnalysisNIFTYnifty50niftytrendniftyindianiftyanalysisniftybankniftypredictionniftyoutlookniftyview
Comments
Parasuram
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does it look like impulse?
dhinesh_kumar
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@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
Trader1680
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It will not fall before 16200 bro, simple Fibonacci, no need to complicate
fe47b4f8080a4f3a90c65925c5b7fd
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Iv based target this month lower side 14867.30
fe47b4f8080a4f3a90c65925c5b7fd
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I think correction start tomorrow and 12 June 14950 come
kandaswamyp
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If wave B of (2) had completed, Wave C of (2) a downward correction wave had commenced its journey of deep correction?
dhinesh_kumar
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@kandaswamyp, yes, wave B completed and wave c began.
jayant999
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may be w5.1 and w5.2 may complete today
dhinesh_kumar
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@jayant999, Not expecting big move for wave 5. Looks like completed or almost completed (5.v.v progress)
jayant999
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huge call writing @ 15700 today
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