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dhinesh_kumar
May 27, 2021 11:14 AM

Elliott wave analysis # clarification on my last analysis 

NSE:NIFTY15
Nifty 50 IndexNSE

Description

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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

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Nifty Trade setup for 27-May-2021

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BankNifty Trade setup for 27-May-2021

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The above two charts are for 28-May-2021

Comment

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Invalidate my whole analysis if breaks today high (nifty 15455.55 and banknifty 35436.65)

Comment

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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

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There is no way to break today's high. Suppose if breaks, this type of wave formation I could not decode.

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If happens as per analysis, then the fall should be sharp and quick and should not take time.
Elliott WaveWave AnalysisNIFTYnifty50niftytrendniftyindianiftyanalysisniftyoutlookniftypredictionniftyview
Comments
An2255
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what about Monday?
dhinesh_kumar
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@An2255, Posted charts
UnknownUnicorn7241612
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I think no need of analysis, buy, buy and only buy. Unlimited money printing is going on.
dhinesh_kumar
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@gs94, It is not a game to play blindly. Who gone long yesterday will regret on this.
Goutam5196
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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...
UnknownUnicorn7241612
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@Goutam5196, Bro, no need of analysis, buy, buy and only buy. Unlimited money printing is going on.
DebasisMh
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@Goutam5196 It's easy to see its impulse wave v not correction.
dhinesh_kumar
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@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.
dhinesh_kumar
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@DebasisMh, Can you prove that those two red lines waves are not ABC ?

DebasisMh
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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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