Nifty Analysis for 24 SepAs mentioned earlier, Wave C of the major corrective leg is unfolding.. It appears that Wave iii of Wave C is complete and it’s corrective wave a is unfolding.. Hence wave a may take it further up, followed by Wave b in downward direction and finally Wave c again taking it upwards.. expecting the correction to finish somewhere close to the resistance zone marked on chart .. Expecting Nifty to spend the entire day in this correction.. Hence view would be predominantly sideways with slight bullish inclination.
Elliotwaveanalysis
ELLIOT FORECAST FOR 22 SEP 20Analysis based on technical parameters (No Noise)
Today Nifty as suggested in my earlier post have completed with its correction... The decline that we witnessed was furious and in a way is in delayed sync with global index. I don't expect any further correction in nifty and from tomorrow likely to expect a upswing towards 11600.Its my personal opinion and analysis...
Watch out for important levels...
Assessment only for educational purpose.
Trade as per own risk appetite.
Nifty 50 analysis for 22 SepBased on today's move, have changed wave numbering of the correction as shown on chart ... Wave C of the correction appears to be unfolding ... Resistance and support zone of 11300-11310 and 11155-11140 respectively, has been marked on chart ... If Nifty manages to break the resistance and sustain above it, an upside rally can be expected till 11420 .. However, if Nifty breaks the support zone, bmaye cautious as correction go deeper till levels of 10900 levels.
BIG OPPURTUNITY SEEN:Completion OF Elliot Wave & Triangle PatterONE SHOULD NOW GO LONG AS OTS ELLIOT WAVE PATTERN IS ALMOST COMPLETED NOW.
WHICH COULD LEAD TO TREND REVERSAL
Banknifty final leg of downmove or there is more?DISCLAIMER:There is no guarantee of profits or no exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while investing/Trading decisions.
Past performance is not an indicator of future returns. Investment is subject to market risks.
Seek help of your financial advisors before investing/trading.
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Downward impulse wave four iv was sideways double three correction which looks to be completed.
The next move of Banknifty about to be witnessed as wave five v.
This move can take it towards 0.5 Fibonacci retracement 21168 or as per support zone 21404-21027
SL/Invalidation level 22370
Confirmation: Dotted blue line has been broken which was important support line,
Broken down heavily from range 22670-22080
Reliance Elliot Waves, Gap analysis, Head and Shoulders PatternDisclaimer: Just for Study purpose, trading/investing not recommended on this analysis it can be wrong.
Reliance gives classic examples where it shows similar targets with help price action and Elliot waves.
Inverse Head and shoulders breakout target seems to reached
As 3rd Elliot wave is extended 5th Wave should be normal (not extended)
During Run up it created Breakaway Gap, Runaway Gap, Exhaustion Gap
Hindalco Wave Review (Recent High @ 203) - Final Wave E-ExpectedVideo Idea Shall Have Quick Review
Hindalco
BankNifty
Nifty
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Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Note
For Educational Purpose- not to be considered a buy or sell idea.
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