[Alert!] Nifty will go down to 5343 Short

NSE:NIFTY1D

Nifty 50 IndexNSE

Description

⋅ Apr 11, 2020 5:14 AM

There will be short term bullish move up to 9651, after the fresh fall will start and nifty will reach 5343

Comments

rocky83

⋅ Apr 12, 2020 5:56 AM

With all due respect, your assessment contradicts the principles of EWT like, Wave 4 never enters the price territory of Wave 1 however in this chart it is and wave 2 never goes to the start point of wave 1.

dnahar

⋅ Apr 12, 2020 7:03 AM

@rocky83, wave 4 is nowhere near wave 1...wave 2 has not passed wave 1...wave 3 is not the shortest...final confirmation is the downtrend should resume soon...this looks like a perfect ewt to be..

The_RedTicker

⋅ Apr 12, 2020 3:22 AM

the trend retracement/reactionary wave is usually a corrective mode wave, isnt it?? then it should have just 3 waves right??

Trade_Like_Chameleon

⋅ Apr 11, 2020 4:56 PM

Hi @hemanthProTrader, how did you map 5343 as the bottom?

hemanthProTrader

⋅ Apr 11, 2020 5:01 PM

@visheshphoenix, its a fibonnaci measurement level

Trade_Like_Chameleon

⋅ Apr 11, 2020 5:09 PM

@hemanthProTrader, Naice. Thanks

dixitnahar

⋅ Apr 11, 2020 10:01 AM

do you see possibility of wave 4 ending already at 9120? and we will see downside straightaway from next week?

hemanthProTrader

⋅ Apr 11, 2020 10:18 AM

@dixitnahar, yes it will end at 9120, but not sure whether downside will begin by next week, it might take some time.

hemanthProTrader

⋅ Apr 11, 2020 10:19 AM

@hemanthProTrader, it will reverse from 9651, not 9120

chandwaney

⋅ Apr 12, 2020 5:28 AM

@hemanthProTrader, it wont reach that far, lockdown extended to april 30, so nifty will start falling rightaway