Nifty 50 weekly update!! close to key resistance levels!!Nifty 50 weekly update!! close to 38% retracement level!!
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Niftyelliottwaveanalysis
NIfty Elliott wave analysis for 5th july(Budget day) 2019Pattern from low 11625 is also complex. Trading strategy should be sell nifty with strict stop loss of 12001 for the targets given on chart. It can also go below 11625 if bounce from 11625 is wave X2 of Triple zigzag correction.
Nifty Elliott wave analysis for 3rd July 2019 onwardsTriple zigzag pattern is violated as of now and if nifty completed correction at 11625 as double zigzag then nifty needs to go for new high very fast. Any consolidation below 12000 would indicate its still in X2 of complex correction. Will update if found an exact pattern.
Nifty Elliott wave analysis for 1st July 2019It seems Nifty currently in triple zigzag correction and will complete its last abc below 11625(most probably in an ellipse drown in chart). So Nifty needs to go below 11617 before breaking upper wedge line. But if it breaks upper wedge line before going below 11617 then we could conclude that correction is completed at 11625 as double zigzag.
Nifty Elliott wave analysis for 26th june 2019Decline from life time high 12102 is seems to be corrective and looks like double zigzag in which 12102-11770 as first abc, 11770-12000 as X and 12000-11625 as second abc. Now If correction is completed at 11625 as double zigzag then we will see new high above 12102 OR pattern could also turn in to Triple zigzag(In which one more low below 11625 is possible from 11870-11921 range). As of now nifty needs to bounce in the range of 11870-11921. and from there we will see further possibilities which explained above.
Nifty Elliott wave analysis for 6th march 2019As of now consider 10944-10914 as support levels. And only below 10914 we can think of downside reversal.
If wave C started from 11118 completed at 10585 then nifty needs to bounce sharply above 11118.
Nifty Elliott wave analysis for 5th march 2019Pattern is indicating minimum decline towards 10689-10644 range. 10940 can be the Stop loss for this trade.
Nifty Elliott wave analysis for 18th Feb 2019It seems wave started from 11118 is completed as impulse wave and it also achieved minimum projection(shown in my previous post) of wave C. And if we are right at identifying pattern then nifty needs to bounce sharply towards 10892. So need to concentrate on the wave pattern started from latest low 10620 to catch immediate move.
Even if wave C is not completed at 10620 and nifty breaks below 10620, I would not suggest to short nifty because reversal could be very sharp. so plan your trade accordingly.
Have a safe and profitable trading..
Nifty Elliott wave analysis for 17th Dec 2018Starting from 10334 it seems currently we are in (iv) of (C or 3). wave (iv) retracement level 10740-10693 can be buying opportunity with stop loss of 10655(Not so accurate). From that buying range nifty can bounce up to 10838 and further it can also extend up to 10865-10941.
Nifty Elliott wave analysis for 13th Dec 2018If Retracement levels will come(with Corrective pattern) then it will be a buying opportunity with stop loss of 10622. This retracement levels will change according to new fresh high of tomorrow.
If impulse started from 10494 is wave C then it will not go much higher above 10780.
OR
If impulse started from 10494 is wave 3 then it can go for higher levels given on charts.
