Nifty 50 IndexLong
Nifty Redraw Elliot Wave Count and New High Projection
Follow Blue count Wave (1) Leading was made when recovering from Mar 2020 low we are currently in wave (3) which is extended and still in progress.
Follow Orange count Five moves started in Oct-Nov 2020 which triggered massive rally wave (iii) extended nearly 261.8% of wave (i).
It came to end at ATH 15432 then this whole (i) to (v) wave sequence got corrected in the form of triple three retracing bit more than 23.6% at 14151.
Follow Pink count here wave 3 extended more than 200% and looks to have finished. So 4th was complex correction in the form of triple three.
The target for 5th wave in pink would be 16400 (38.2%) or 17789 (61.8%) of wave 1. This needs breakout confirmation 15432.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE or Comment)))))-------
Follow Orange count Five moves started in Oct-Nov 2020 which triggered massive rally wave (iii) extended nearly 261.8% of wave (i).
It came to end at ATH 15432 then this whole (i) to (v) wave sequence got corrected in the form of triple three retracing bit more than 23.6% at 14151.
Follow Pink count here wave 3 extended more than 200% and looks to have finished. So 4th was complex correction in the form of triple three.
The target for 5th wave in pink would be 16400 (38.2%) or 17789 (61.8%) of wave 1. This needs breakout confirmation 15432.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
-------(((((Please LIKE or Comment)))))-------
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.