Nifty Wedge/ Parallel channel Formation Elliott wave Analysis

NSE:NIFTY   Nifty 50 Index
Today Nifty opened gap up and invalidated assumption of impulsive down moving Elliott wave .

At gap up 11248 it confirmed since wave 4 touched wave 1 now its forming a wedge or parallel channel .

Where wave 4 should end near 11268 which is 0.618 fib level. Next fib 0.786 11311.
Stop loss 11325
Resistance 11270-85 will be difficult to cross.

Wave 5 should start downside and end near 11055.

Disclaimer: Calculated and plotted values may differ little with actual stock movement. Plotted wave count can be wrong. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing/trading.

Please hit like button that will motivate me to do more. You can donate Trading view coins as well. Thanks :)
Trade closed: stop reached: 11325 Hit. Analysis invalid


Pardon me. Chart posted from mobile so may not be visible properly
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out