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Extendedthird

Lets find New Nifty Top with Fibonacci and Elliott Wave TheoryDISCLAIMER:There is no guarantee of profits nor 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 taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Lets find New Nifty Top With Fibonacci and Elliott Wave Theory To everyone's surprise Nifty after declining more than 3% on daily chart on 21st Dec 2020 recovered and mere few points away from 13777 Look at Blue Impulse Wave plotted on Chart Now with Gap up opening on Thur 24th Dec it is confirmed that wave 3 in progress and wave 3 ended above 1.618 Fibonacci level Wave 4 was very short and didn't even retrace 0.236 levels so now if wave 5 is in progress then should reach to 13940-65 Now Look at Orange Impulse Wave Wave 3 in extended case can go till 2.618 Fibonacci level 14017 next in wave 4 again 13700 will be tested finally wave 5 should end at 14212
NSE:NIFTYLong
by Niftydirection
1
Reliance Extended Third Elliot Wave Reliance continuous run-up with extended(3.618) 3rd wave to end near 1997. Volumes are dropping suggesting it may not extend beyond 2000 levels. 4th Wave should start from there which could end between 1625-1570 zones. It has also formed inverse head and shoulders pattern which post breakout target 2333. All details marked in chart. Stock may not follow exact plotted numbers there could be small variation. Disclaimer: Trading based on this analysis may not be suitable for all investors/traders. Consult your financial advisor before trading/investing.
NSE:RELIANCELong
by Niftydirection
4
EW analysis of Nifty I am considering 2009 dip as the starting point for the analysis. So as per the analysis, sub wave iii of wave (v) of wave is either going on or completed. now, wave iii is at the 100% fibo extension here is a probable count for the fractals of wave iii,which suggests that wave iii is complete and iv is started here.https://in.tradingview.com/x/vVGsGLxT/, regular bearish divergence formed recently, which is suggesting that wave iii is completed. occurrence of flat correction is high in wave iv, and it seems, a flat correction has started here. but flat corrections don't do deep retracement, here are the retracement levels to watch for
NSE:NIFTY
by ParamjitMahapatro
6