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M_M making 5th wave of Elliott to complete wave 7th/ Wave - B (corrective wave) of whole cycle so buy above this consolidation phase @ 655 ---------------------------------------------------------- ________________________________________ intraday target 1 ---- 664 intraday target 2 ---- 672
As I had shared in yesterday's post, Nifty was forming lower degree wave (b) of higher degree Wave B and as per fib retracement, correction didn't appear complete then .. Hence was excepting a bearish day ... However, Nifty opened gap up, which in itself was a trap ... Distribution continued till second half n then expected down move happened ...Wave (b) has given...
Check the earlier update today, #BANKNIFTY danced to the waves and sunk. Should have a several hundred point down still to go. Racing down in Wave 5
analysis mentioned on the chart
Nifty opened gap down today and as posted yesterday, after an initial rally, Nifty continued correcting as part of lower degree wave (b) of higher degree Wave B ... However, as per the fib retracements marked on the chart, it appears that the correction isn't complete yet ... Hence view for tomorrow continues to be bearish ... 11420 being a strong support zone,...
nifty may fall as expected its forming either 3 rd wave or wave c in the market
analysis mentioned on the chart
Nifty today opened flat and rallied to 11600 levels, giving minor pullbacks in between ... On closer analysis of the wave patterns, it appears that Wave B of the correction is far from over ... Nifty by closing appears to have taken resistance at 11620 levels ... Next immediate resistance would be 11670-11680 levels and same has been marked on chart ... For...
ADANI PORTS shaped up in beautiful Cup with Handle pattern. Decreasing volume pattern seen during Handle formation. Levels mentioned on chart & Given targets seems achievable. Plan your trade accordingly. Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk. "Trade what you see, Not what You Think" Happy Trading(:)
Bounce from 11185 is looks like an impulsive wave and wave v of that impulse has already achieved its minimum projection. Now this impulse can be: (i) wave C of irregular correction-Nifty can decline below 11185 in that case. OR (ii) New impulse- Nifty can give retracement of this impulsive bounce and then again bounce above 11794.
22540-22857 immediate resistance range. above 22857 positive. BN is trading between important levels 22857-22127.