Nifty 50 IndexLong
Nifty - Confluence - Parallel - Trend Reversal and FIB - Long
Hi guys,
In this analysis Nifty index in the daily time was Moved in the Elliot wave pattern, followed by parallel channel and a flat consolidation was also there.
After the period of consolidation, now the nifty was breakout and retested the FIB Retracement level of 61.8 and started moving.
Hence, the trend of nifty was in the bullish note.
Hence, Buy Nifty
Target 1 - 15340
Target 2 - 16000.
1hr time frame:
The index was formed in inverted Head & Shoulder Pattern, hence, bullish trend has started.
https://s3.tradingview.com/snapshots/s/sZLXo626.png
Weekly time frame:
The Index was formed in the Elliot wave pattern and Correction was also completed and bullish trend has started. Refer the image.
https://s3.tradingview.com/snapshots/j/jl0LSxBa.png
Regards,
Thenali Views
Disclaimer: Kindly do your own analysis before executing the trade.
In this analysis Nifty index in the daily time was Moved in the Elliot wave pattern, followed by parallel channel and a flat consolidation was also there.
After the period of consolidation, now the nifty was breakout and retested the FIB Retracement level of 61.8 and started moving.
Hence, the trend of nifty was in the bullish note.
Hence, Buy Nifty
Target 1 - 15340
Target 2 - 16000.
1hr time frame:
The index was formed in inverted Head & Shoulder Pattern, hence, bullish trend has started.
https://s3.tradingview.com/snapshots/s/sZLXo626.png
Weekly time frame:
The Index was formed in the Elliot wave pattern and Correction was also completed and bullish trend has started. Refer the image.
https://s3.tradingview.com/snapshots/j/jl0LSxBa.png
Regards,
Thenali Views
Disclaimer: Kindly do your own analysis before executing the trade.
Disclaimer
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