NIFTY PHARMA it's forming head and shoulder pattern, so maybe it's going up....
Techm Elliott wave first cycle finished, The stock price will move for the Second cycle of Elliott wave, the fib price projection for the second cycle is below 350
From current level, nifty will continue its uptrend up to 11200-11250 levels and again start a downtrend Wave 5.
Reasons For Trade- 1.Price has Broken 4 Hour channel 2. Price is Retesting the important resistance of 1075 wich was support earlier 3.Daily Trend is Down 4.Risk Reward 1:2 Sell at 1070-1075 Stoploss 1093 Target 1010 (Intraday- Sell at 1070 Stoploss 1093 Target 1030)
$ALTS_CAP update falling wedge (diagonal) completing 2nd wave between 0.618 -.786 S 68B-60B heading for 3rd wave 170B 200B 250B soon .
as per Elliott wave nifty is in the fourth wave of larger digree 5th wave , so we are expecting more down fall in coming days
short term wave analysis of nifty
WISHING EVERYONE HAPPY INDEPENDENCE DAY Please have a look at the chart, Sl and Trg will be updated if prediction works, plan your trade accordingly. Regards, Sharma Yogesh
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted...