Nifty Elliott wave analysis for 6oct 2020

NSE:NIFTY   Nifty 50 Index
Nifty needs to break below 11441 in quick time if it completed its wave (v) at 11578 and 11383-11181 are immediate targets because extended wave (v) retraces 100% in quick time.
But it nifty crosses 11578 without breaking below 11441 then we will consider wave (iii) completed at 11578 and wave (v) started from 11452.
Move from 11221-11578 is very sharp and steep with two gaps so there is a possibility that it is wave (iii) completed at 11578 not (v).
Let market to decide and our work is to watch out important breakeven point 11441.


Good stuff man, crisp concise and clear. Beautiful
+1 Reply
chirag_Khasiya SaurabhMehra
@SaurabhMehra, thank you
Very Nicely done
Sir the on going surprise is coorction wave not impulse. The coorection demarcated as abode not in numbers. If coorction wave still e and f and g possible. And behavior. Of coorction wave will be different.any are clear and presentation.
Pls the coorction wave is demarcated as abode.not in numbers. Any how your analysis is crisp. If correction wave then different parameters needed.
Hi Chirag, this is excellent analysis. Do you do similar analysis on Bank nifty too?
Excellent analysis
chirag_Khasiya VipulDarji
@VipulDarji, thanks
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