NSE:NIFTY   Nifty 50 Index
351 11
All wave counts illustrated for easy understanding , I am not confusing viewers . if any one prove that i am
wrong , please comment
Comment: For bullishness in NIFTY First thing is to retrace wave 'B' which is @8736.Hence our First target is 8740 ,cover all longs near 8725/30
Comment: short covering,gap up opening will be enough for nifty to reach this level, U.S Markets already in New historical highs.TRUMP made history
Comment: watch 8758 ,23.8% support if it respected our bullish count intact, nifty has to consolidate here, 4th wave of 1st leg
Comment: the above count still valid if nifty fall arrested at 8300,which is 50% of first leg
Comment: 8127 is the final 78.6 support where every buyer look in to jump in.still there is no change in my count. now 8127 is the end of wave 2
Wow! You are back with the bang! Superb analysis. Thanks
Yesterday I made huge money.while watching the recovery I found that a new 5 th wave emerging which cancelled all the bank nify will support to reach the tgt .till now nifty P/E is hardly 1,not over bought
nirav5 selvamgeetha
@selvamgeetha, I was confuse with my wave counting. I was considering 8960 as a truncated 5th wave.
@nirav5, It may be correct ,but IF yesterdays recovery crosses over 8736,the( B WAVE Top)then we can call THIS UP MOVE forming an ORTHODOX TOP
No you are not confusing. Wave count is clear
Your counts are really good, but in wave "5/1" your wave 3 is the shortest of all the other waves in the impulse (i.e, 1 and 5), which is not possible, rest seems to be really good work done.
@neilroy7, thanks for your comment,whenever a new rally emerges from existing bear market, the first wave 5/1 will be powerfull because of short covering.
in elliott theory any one of five waves should be impulse,therefore it is not necessary that 3rd wave must be longer
Thank you for posting the chart. I had a similar count in mind. The last leg of x-ABC seems to be over. Now the next move is expected to be up.
brought jan 9000CE for rs.30
@ajayww2, NICE , add more
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