gulz
Long

NIFTY - Elliot Analysis // Short Term Buy & Sell Setup

NSE:NIFTY   Nifty 50 Index
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Hi,

Nifty had a sharp impulse to downside in five waves from the top as Wave A. Now we can anticipate a corrective rally to 11,100 ( sub wave 4 region) as a zig zag correction since we had upward push in 5 waves on lower time frame.

So, Once the B wave correction is complete at 11,100 region, there can be next series of push down to 9500 level ( levels to be identified later on as the upward correction finishes)

Note :61.8% retracement of last fall from the high align in the same zone-- The zone had nice fib confluence.

Trading Plan 1 :
Long entry @ Mkt by keeping stop below previous low and aim towards 11,100 zone.

Trading Plan 2 :

Look for short opportunity once the corrective upward move finishes - will updated later on.

Trade with care
Gulz
Comment: Fib Confluence

Comment: Monthly chart
Trade active: A low risk opportunity arrived -- close to stop level
join if u see any impulse to upside and keep stop as suggested earlier.
if price pushes higher, we could see a C leg of correction which wl be impulsive ( 5 waves)
Order cancelled: Current Setup invalidated -- downward move extended from the previous low.
wave counts on short time frame to be re-checked ( current move looks like part of 5th wave) -- will update later when i see low risk opportunity.
Thank you
I heard that FYERS is offering trading on TradingView platform and it's pretty damn good. Does anyone else have detailed feedback about it?
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safri manishald
@manishald, Yes. Fyers offers Tradingview as their web platform. I have been using their platform since last 3 months. The platform is awesome.
+1 Reply
safri safri
@manishald It has many good features which we normally enjoy in Pro version of Tradingview. (No restriction to load no. of indicators , chart layouts etc ..)
In addition, MCX charts, NSE futures and option charts are also available.
Brokerage is same as that of other discount brokerages like Zerodha and Upstox
+1 Reply
@safri, Well i am using from 1 yr. i have never tried but you could add atleast 10 indicators, problem with the platform is it doesn't have any stock screener
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Can we Buy @ CM Even after selling Pressure Sir ?
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gulz HappyVijay
@HappyVijay, only if you are comfortable with stop loss level - we should not risk more than 2% for any trade ( thats what i follow)
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@gulz, thanks
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