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High Probability Ranges - Valid from 30th April - 4th May 2018

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NSE:NIFTY   Nifty 50 Index

These are the results of some range calculations I have been using regularly for some months. These Fibonacci based ranges work for any candle duration.

The present calculation is based on price action of the week April 23rd-27th 2018. Valid from April 30th-4th May 2018
Comment: Finally Nifty seems to be in correction mode

Comments

So do I feel, the retracement of Wave C has started
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fcsa vishyrana
@vishyrana, I personally find it difficult to identify Elliot Waves in Nifty. I usually go by Bollinger Bands, candle structure and Ichimoku with Heiken Aishi candles. Also, I calculate probable ranges based on Fibonacci multipliers which have worked quite accurately for some months. But yes, I think a bearish correction is happening. I've been short on Nifty futures since 2nd May.
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