Nifty Elliot wave based predictions for 27 June
Nifty has completed 3rd wave of cycle which started from low of 04 June and hence now nifty must moved to a consolidation phase in ABC (zigzag form)n for couple of days.
It is difficult to predict how much of this zigzag will be formed tomorrow but most likely first there will be down side move (12345 wave pattern already started from 23889) and then some retracement and then followed by some more correction (12345 wave pattern),
overall time to not go long till this phase is over,
** Please take any trade at your own risk, this is my analysis and sharing in case if goes right and others can get benefit but I might go wrong too, nothing is certain in stock market :)
It is difficult to predict how much of this zigzag will be formed tomorrow but most likely first there will be down side move (12345 wave pattern already started from 23889) and then some retracement and then followed by some more correction (12345 wave pattern),
overall time to not go long till this phase is over,
** Please take any trade at your own risk, this is my analysis and sharing in case if goes right and others can get benefit but I might go wrong too, nothing is certain in stock market :)
Comment:
This theory is true as long as today's day high 23889 is not broken
Trade closed: stop reached:
Nifty made the ABC downward pattern but it was a minor correction and it eventually crossed 23889 hitting the stop loss to continue the upward trend.
This means with my older analysis 24134 is still ON.
This means with my older analysis 24134 is still ON.