Hey, whassup reader?
I bring you an analysis of Nifty 50 using Eliott waves and found the price to be respecting the waves theory from 1996 till today.
Here's my approach, observations, and some prediction mentioned below for you. Like and comment on what do you think about it.
You can zoom out in the chart to see the wave pattern formation across time....
Nifty at strong resistance level...with double top up...breakout of trend line gives good upside movement or nifty respect resistance and trend line then again will show downside trend.
Buy above 9610 for 100,200,500+++
Sell Below 9520-9540 for 100,200,500+++
Request you all to like or comment on views as then I come to know that how much engagement on post....
IN NIFTY 9600 IS A HUGE RESISTANCE, BUT AS NIFTY BROKE CHANNEL IT CAN MOVE UPWARD.
BUT THERE IS A TWIST, AS PER RSI IT IS OVERBOUGHT, SO NIFTY CAN RETRENCH TO 9430, 9270, AND AFTER THAT IT MAY SHOW A UPTREND UPTO 9770,9880 TO FILL GAP
NIFTY could be in the process of making a bearish butterfly. The ratio based traders may find the pattern interesting. The completion of the pattern requires confirmation at three critical price ranges as mentioned in the chart. If the pattern comes to fruition the index may test 9640-9660 levels and may go down to 9360-9330 levels and then go on to 10130-10170...
Nifty has shown a clear cut breakout on charts. comparing it with Dow, Dow jones Fib Retracement is around 0.618 fromt the March lows. now you may be saying why are you publishing dow index when our main index is Nifty50. just to show that the dow is coming out of bear market and we are not have come out of bear market. we ( Nifty ) are at the retracement level of...
LET US COMPARE MY YESTERDAY STATEMENTS WITH ACTUAL MOVE.
1. In previous post I clearly mentioned That " on taken out pink zone either by gap up or while trading in day you will see white dotted line next target." You can see price breached and made bullish candles . Have you ever noticed one thing in my blogs When I share any condition that market fulfill then...
Market analysis: Nifty has formed a double top near the 10760 level. So until nifty is below 11960 market will be moving head towards 9400. Let wait and see what the market does in the coming days. Cheers!
TREND ANALYSIS & TRADE SETUP
Wave Analysis & Harmonic Chart Pattern .
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 5-10 Times
Had a corrective 5 wave fall on higher time frame, now doesnt look like its falling any more, Unless there is some unaccounted news (which obviously is always a risk in the markets) It will continue to rise.
Yesterday there was volume buying, today its showing a 61.8% retracement and holding it so far. I cannot guarantee about the Time-To-Targets, but I strongly...
These are the Important levels for the Nifty BUY & SELL
* The Pink Lines are for Buying Points
* The Black Lines are for Selling Points
Through This we can Find the Momentum of direction to trade in Nifty Options
This Levels are only for Education Purpose....
COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE TODAY.
1. In previous post point no. 1.trade plan " since price is in red box it can down or consolidate for quite sometimes then if crosses red zone next target is pink box." This is what I shared with you all. you can see in fig price opened gap up from red zone and travelled to pink box . And spend almost four...
COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE IN SGX TODAY.
1. In my last statements point no 2. I clearly mentioned that if price till morning do not cross green dotted line then gap up opening can convert into flat. But you see price crossed dotted trend line so market opened gap up. see in fig. I gave the cross area in yellow color which does not provide...