chirag_Khasiya

Nifty Elliott wave analysis for 7Dec 2020 onward

NSE:NIFTY   Nifty 50 Index
Wave (5) started from 10790 is looks like a three wave move as of now. wave (c or iii) started from 11535 achieved 100% and 123% while 161% is coming at 13534.
12868-12613 is immediate support range and nifty is positive as long as trading above 12613. Nifty turns negative only if trades below 12613.

Comments

Another view, wave a or 1 from 10790 to 12035 , b or 2 at 11535. Wave 3 or from there to.13545. Wave 4 at 13000 0r low and wave 5 to 13 800.0r 14100. 5 th may be truncated.
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Very nice. What will be the reversal pattern.when it reaches 13535 zone. Or further.up move possible after a big correction
There.
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See my analysis posted today... likely Nifty may correct to 12980-12820 levels from 13390 (fibo resistance) & 13496 (big long-term trendline resistance); all tht best.
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I HAVE BEEN TAPED AT 13100 SHORT ,SHOULD I COVER SHORT OR WAIT TILL 13100 CORRECTION TO COVER MY SHORT? PLEASE GUIDE.
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good analysis. I concur that w5 started on 24th Sep low at 10170. sw 1, 2 are complete. sw 3 complete or about to OR Arguably sw 3 & 4 are also complete also leaving only sw 5. Consider an ending diagonal with a sharp and sudden reversal. Cheers Ranga
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