dhinesh_kumar

Elliott wave analysis # clarification on my last analysis

NSE:NIFTY   Nifty 50 Index
My previous analysis is still valid. Just the correction is being extended.

Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Comment: Nifty Trade setup for 27-May-2021

Comment: BankNifty Trade setup for 27-May-2021

Comment: The above two charts are for 28-May-2021
Comment: Invalidate my whole analysis if breaks today high (nifty 15455.55 and banknifty 35436.65)
Comment: Nifty broke the high. I expected ABC from yesterday, but now based on formation, it is impulse.

In BankNifty, see the wave formation from 24th May low to today high, it is clear ABC-X-ABC. Then how can it go up. There is small pass.

Nifty

BankNifty
Comment: There is no way to break today's high. Suppose if breaks, this type of wave formation I could not decode.
Comment: If happens as per analysis, then the fall should be sharp and quick and should not take time.

Comments

what about Monday?
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@An2255, Posted charts
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I think no need of analysis, buy, buy and only buy. Unlimited money printing is going on.
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@GS94, It is not a game to play blindly. Who gone long yesterday will regret on this.
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it is something else...which very few can decode...so i will sit aside and let it do whatever it is doing... vix is going down...
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GS94 Goutam5196
@Goutam5196, Bro, no need of analysis, buy, buy and only buy. Unlimited money printing is going on.
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@Goutam5196 It's easy to see its impulse wave v not correction.
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dhinesh_kumar DebasisMh
@DebasisMh, I said it was wave ii of 5. It is easy to comment than doing analysis.

Yes, my analysis may go wrong. If goes, I will rectify where I did wrong count. I can't simply mark as impulse without knowing exactly what is going on.

One can easily say it is impulse when going higher higher. But I need proper inner wave count.
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dhinesh_kumar DebasisMh
@DebasisMh, Can you prove that those two red lines waves are not ABC ?

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@dhinesh_kumar Innner wave count on lower time frame is noise nothing else.I prefer line chart for wave count as closing prices are important.
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