Nifty Elliott wave update for 16oct 2020Nifty has closed below support range so first 15 min of opening will be very important to watch. Negative only if trades below 11700.
Niftyelliottwaveanalysis
Nifty Elliott wave analysis for 9oct & onwardFrom 11181 we are considering wave (C or 3) so as of now nifty is in positive zone and 11734-11628 is an immediate resistance range.
And nifty if trades below 11628 then only negative.
Nifty Elliott wave analysis for 8oct 2020wave (C or 3) started from 11181 is in its wave (v) and achieved its normal projections wheres 100% is coming at 11849.
Nifty Elliott wave analysis for 7oct 2020wave 5 started from 11181 is already trading in its extended zone and 100% projection is at 11696. above 100% projection of wave 5 is a rare case.
And if nifty cross 11696 then we will change wave count as under:
10790-11305 wave (a or i)
11305-11181 wave (b or ii)
11181-116** wave (c or iii) is running.
If we are right in this count then nifty will decline sharply without breaking above 11696.
Nifty Elliott wave analysis for 6oct 2020Nifty needs to break below 11441 in quick time if it completed its wave (v) at 11578 and 11383-11181 are immediate targets because extended wave (v) retraces 100% in quick time.
But it nifty crosses 11578 without breaking below 11441 then we will consider wave (iii) completed at 11578 and wave (v) started from 11452.
Move from 11221-11578 is very sharp and steep with two gaps so there is a possibility that it is wave (iii) completed at 11578 not (v).
Let market to decide and our work is to watch out important breakeven point 11441.
Nifty Elliott wave analysis for 5oct 2020Wave 5 started from 11181 has achieved its minimum projection.
By looking at the internal wave count of wave 5 it seems wave (iii) is completed at 11424 and wave (iv) is completed at 11383 OR still in progress and wave (v) is still pending.
Nifty Elliott wave analysis for 1st oct 2020Earlier we have considered wave iii at 11072 but now it seems iii has completed at 11305 and wave iv at 11181 which is almost 23% retracement.
And if wave iv is completed at 11181 then projections of wave v is coming at 11377-11499.
we were expecting more than 38% retracement because counted five wave completed at 11305 and looking for wave (b or ii) which can retrace at least 38%-50%.
Nifty Elliott wave analysis for 30sep 2020Nifty may have completed impulse wave at 11305 and retracement levels are given in chart where 23% is already achieved.
Nifty Elliott wave analysis for 29sep onwardNow it seems from 11794-10790 an impulse wave is completed and nifty may consolidate between 10950-11410 in coming 2-3 sessions.
Nifty Elliott wave analysis of 30min chart for 25sepIn 30min chart immediate resistance range is coming at 10900-10970.
Note:- I am considering internal (i) and (ii) of (3) because expecting bigger decline. if this wave count is wrong then nifty can bounce quickly towards 11260.
Nifty Elliott wave analysis for 25sep and onwardAs mentioned in 4hour chart nifty already broke 10934 and in negative zone.
11106-10985 is immediate resistance range and positive only if trades above 11106.
Nifty Elliott wave analysis of 45min chartIn this 45min chart from 11794 its a three wave move as of now and immediate resistance range is coming at 11164-11251 and nifty is positive only above 11251.
Nifty Elliott wave analysis of 4hour chart as on 23sep2020Nifty is trading in support range of 11263-10934. But if nifty breaks below 10934 then it may fall towards 10600 in quick time.
Nifty Elliott wave analysis for 17sep 2020 onwardBounce from 11185 is looks like an impulsive wave and wave v of that impulse has already achieved its minimum projection.
Now this impulse can be:
(i) wave C of irregular correction-Nifty can decline below 11185 in that case.
OR
(ii) New impulse- Nifty can give retracement of this impulsive bounce and then again bounce above 11794.
Nifty Elliott wave analysis for 10sep & onwardNifty may decline towards 11116-11006 range without breaking above immediate resistance range 11279-11338.
If break and stays above 11338 then only positive.
Nifty Start of Corrective WaveDetailed Analysis using Elliot Wave
Nifty from march lows formed Leading diagonal and its abc correction till 8806, fresh 5 step impulse wave was triggered till 11794.
Nifty opened gap down on Friday 04th Aug, Gap was wide and didn't get fill.
It has also broken swing low 11325 so this suggests start of fresh corrective wave.
Nifty to again test 11111 levels which is least expected correction. Breaking below that we will see below Fibonacci correction levels
0.236=11089
0.382=10653
0.5=10300
0.618 = 9947
0.786 = 9445
Now Mondays 07th Aug closing is important then we will consider following
Case 1 view Sideways: Wave B is flat or any complex correction range 11300-11584
Case 2 view Bearish: Wave C will be in progress 11111 will be hit subsequently below that given fib levels will be tested.
Case 3 view Bullish: Only above 11600
Disclaimer: This investment/trading may not be suitable for all investors or analysis can be wrong so ask your financial advisor before investing. Your capital will be at high risk and you may loose all while trading Futures and Options. This is not actual buy or sell recommendation.
Nifty Elliott wave analysis for 3rd sep 2020 onwardfrom low 11325 Looks like a corrective pattern is forming so 11560-11615 is resistance range.
Nifty Elliott wave analysis(15min chart) for 24aug 2020From 11111 wave (i), (ii), (iii) and (iv) may be completed at 11290 and from 11290 wave (v) may be started and in which i, ii, iii and iv is completed and v might be complete in the range of 11460-11491 range.
Nifty Elliott wave analysis for 24 Aug 2020 onwardFrom 7511 its looks like double zigzag correction . But to find out top(End of (c)) we need to look at the recent bounce started from 11111.
I could not see any other pattern other than double zigzag correction. But it doesnt mean I am shorting blindly. do your own analysis and make trading strategy accordingly.
Nifty Detailed Elliot Wave AnalysisNifty formed Parallel channel inside bigger channel and making smaller candles suggesting upmove exhuasted.
It formed Contracting Triangle at top of trend and didn't break major resistance 11380.
On 14th Aug gave downside breakdown from triangle completing sharp downside of 3rd impulse wave.
Third wave completed as you can see it formed Hammer at 11111 support.
Bounce towards 11208(Fib 0.382)-11223 (resistance) or worst case 11238 (Fib level 0.5) is short opportunity.
Stop loss 11245. If gaps up on Monday 17th Aug and touches 11242-43 then this structure and trade will be invalid.
Target 11075-11055
Non Risky can wait for break of 11111 on 15 min chart for above targets use Stop loss as 11132
Disclaimer: Calculated and plotted values may differ little with actual stock movement. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing/trading.
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Nifty elliott wave analysis for May Expiry week 2020As of now decline from 9889-8807 looks a three wave move, but the bounce from 8807 doesn't look impulsive so it can be a corrective wave of 9584-8807 and Nifty can decline again below 8807. 9104-9195-9287 can act as a resistance zones.
Nifty Elliott wave analysis of 4hour chart as on 22may 2020As of now bounce from 7511-9889 looks like corrective bounce and nifty can decline again towards 7511.
Only a sharp bounce above 9584(without breaking 8807) can save nifty from falling towards 7511.
Nifty Elliott wave analysis on Monthly chart as on 22may 2020 In monthly chart decline from 12428 can be wave C of irregular correction(Nifty can bounce again for new high in that case) OR it can be impulse wave A(Nifty can decline again for a new low in that case). 6338 is an invalidation point for this wave count.
