nifty elliot wave analysis nifty elliot wave analysis
0-1 : 18604 to 17968
1-2 : 17968 to 18362
2-3 : 18362 to 17618
3-4 : 17618 to 18064
4-5 : 18064 to 17329
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Niftyelliottwaveanalysis
NIFTY: Price Action Perspective And EWTDaily Chart:
Elliott Wave Perspective:
Nifty has completed the corrective wave A of triple zigzag (Z)
If the price gives a consecutive close above (X), it suggests that corrective structure has occurred and an impulsive wave started.
However, the price has given three moves after wave A.
Sub-wave a traveled 100% of wave B.
The price is weak below 17639 and strong above 17650.
In my previous idea, I have mentioned the price can be out of the channel. Sellers can enter after a rejection of the candle on a higher timeframe.
Safe traders can enter when the price enters into the downtrend channel.
Today's close will initiate positional views.
Price Action perspective:
After the accomplishment of the lower-low, nifty surged and reached near the previous lower-high point at 17639 .
As mentioned in down theory, An upward trend is a series of successively higher highs and higher lows.
Price is weak below 17639 , which is a previous lower high.
If nifty creates a swing failure, supply will exceed the demand.
Elliott Wave says NIFTY Going for 16369 Nifty is constructing triple three (x,y,z) right now.
Price is about to accomplish sub-wave B of triple three.
Buyers should be ready to exit from their position before the price reaches the nearest lower high at 17639 , which is wave (X) of the correction.
According to wave principle, if the price couldn't sustain above wave X, then the current trend is about to resume.
Currently, nifty's trend is bearish and, wave C can give a downward motion with the following targets:
TP 1: 16909
TP 2: 16690
TP 3: 16449
TP 4: 16369
Note that price can make an excess at the upper band of the channel.
Trade Setups (only for the safe traders):
Traders can enter when the price rejects the wave (X).
If the price breaks the (X) at 17639, it may be a fake-out. Traders can wait for the price to enter into the parallel channel.
Stop-loss can be the nearest high of the excess which will be out of the channel.
T rade Setups (only for the Lion heart traders):
Lion heart traders can enter in sell position when the price makes rejection of wave (X).
After the price rejection, they can initiate a short position below 17600.
Stop-loss can be high of the new lower high.
Stay in touch for the next update of this setup.
Nifty Outlook: The Case Of Initiative And Response Between Bulls
Nifty has continued forming the descending channel. Price has made three excess areas on the lower band. It means that bear traders are continuously trying to break down the descending channel. Price is following the control line with nine spot confirmation.
The trend will change after a breakout of the upper band, and it will drag the nifty price at my pivot point. And that pivot point will act as a hurdle. Hence, it has to climb up to that. And if that happens, then it will keep moving forward non-stop.
Otherwise, there is a high chance that the price will create an excess. This pivot has provided three successful reversals on the upper band.
Bearishness may drive nifty for one more leg down.
**NIFTY's Elliott Wave Perspective for Today**Nifty can bounce from 0.618% - 0.786% of retracement levels, and we may see 18350 again.
According to the Elliott Wave Principle, it can drop up to 1.00% of wave i. And a breakdown of wave 'i' is a direct sign of a strong downtrend.
Buyers must note that the price has broken 200 EMA.
Don't buy without any confirmation.
NIFTY - The Beginning of The End ?NSE:NIFTY
Nifty seems to have finished the post covid bullish impusle wave cycle which lasted for the past 1.5 year.
BUY THE DIP ❌❌❌❌
SELL ON RISE ✅✅✅✅
Part II: NSE Nifty Sellers Crushed Again.Nifty retracted on the control line of the parallel channel C.
If nifty gives channel breakup, we can get our price targets. Or price will be remaining in the channel.
Click here to check the main idea:
Last Warning to NIFTY SellersNifty is forming corrective wave 4 of wave ((5))
Nifty has made a high at 18604 and started falling due to conclude of wave 3.
It has broken the base channel due to high selling pressure on Nifty.
The following terms confirm the nifty pullback.
A. The common Fibonacci retracement of wave 4 is 38.2%. Nifty has entered the 38.2% retracement level. It seems like the reversal is ahead.
B. Wave equality (A = C)
Wave C is 100% of wave A and vice-versa. If nifty breaks the previous low, then it can reverse between 100% to 161.8% range.
The corrective wave can complete if it sustains in the channel trendline.
I will upload Intraday charts to take trading decisions.
Nifty Outlook: A fight Between Bulls and Bears Nifty was heaving correction in previous weeks.
Now, It looks like it has completed corrective structure and marching upward.
If you are following my daily outlooks, you can understand these charts easily.
If the price is about to change the direction, It will make an initiative then confirm it.
Nifty will confirm its bull trend by breaking wave B at 18350.
In case, If you have missed my previous idea:
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Nifty can take two steps back before skyrocketing.
This week nifty may break 18350, and this level will increase high buying pressure.
The above chart shows that nifty seems price is forming a leading diagonal. Moreover, wave 5 is the ending point of the leading diagonal.
And completion of wave 'i' the wave 'ii' will take place. The wave 'ii' is corrective. So the day traders can initiate buy position there. It's a golden opportunity because of moderated risk here.
Safe intraday traders can enter at the breakout of wave i. This point is also initiating an opportunity. If the acceleration phase is sturdy, then It can hit 19200.
Please note that wave '2' can never overlap the starting point of wave '1'.
Nifty outlook: A corrective pullback or a bull trap?
Nifty has filled the gaps. It has a very active gravitation line where price activities are on the bulk.
According to wave principle, corrective waves form in deceleration and, impulsive waves break the declaration channel.
If nifty breaks the corrective channel, we may see an upward move. Otherwise, the price will continuously form in the corrective channel.
I will update further information.
NSE Nifty Sellers Crushed Again.If nifty breaks the upper band of the parallel channel, our following targets will be.
18164
18241
Nifty can remain in a parallel channel (PC) before further advance. That can be up to support line of PC (B) or control price.
Nifty can retest 17169 before hitting the 18000 levelsIntraday & Short-term outlook of Nifty 50:
Nifty has completed motive wave (iii) at 17792 .
Wave (iv) is forming and, it can have a common retracement of 38.2% .
The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169
According to the rule of corrective wave, it remains under the channel.
And the impulsive wave can breakout the parallel channel.
If nifty breaks the parallel channel, we have to accept the impulse atmosphere.
Nifty: Short Setup for Wave (iv)Nifty is on the corrective structure.
Wave (x) of the double zigzag is near to complete Wave (Y) has the potential to give a short entry for the following targets :
Target 1:17426
Target 2:17328
Target 3:17260
Further information I will update you soon. Stay connected!
Nifty All Time Frame Analysis using elliott wave In this video you will find all time frame analysis of nifty using elliott wave theory.
Nifty weekly expiry view 10march 2021From 14862 corrective pattern is going on as per my view and it may complete in 15174-15233 range.
Nifty may decline towards 14925-14862 range. Kindly trade with logical Stop Loss whichever looking proper in live market.
Trade blindly on others idea is not a good idea sir G.
Nifty Elliott wave analysis for Budget day(1st feb 2021)Nifty Elliott wave analysis for Budget day(1st feb 2021)
Nifty elliott wave update for 1feb 2021From 14753 it seems impulsive decline is going on and wave and is completed at 14371 and 14491 respectively.
from 14491 wave (1), (2), (3) and (4) is completed at 14260, 14438, 13713 and 13966 respectively and from 13966 wave (5) is started.
minimum projection of wave (5) is already achieved at 13669 and 61% is coming at 13486.
for exact completion range we need to see decline from 13966 in 5min chart.
Nifty Elliott wave update for 12jan 2021Nifty is still in positive zone as long as trades above 14343.
14395-14343 is immediate support range.
NIfty Elliott wave analysis for 11th jan 2021 onwardNifty Elliott wave analysis for 11th jan 2021 onward is explained in detail.
Nifty Elliott wave analysis on daily chart for 4jan 2021 onwardIn this daily chart it seems wave (1), (2), (3) and (4) is completed and wave (5) is in progress from 10790. 38% and 61% projection of wave (5) is already achieved so its in extended zone.
Maximum level 100% is coming at 15096 which is rare case.
From 10790 wave (i), (ii), (iii) and (iv) is completed and projection of wave (v) is coming at 14272-14977 range and from there we can see bigger decline if we are right at identifying pattern.
