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Nifty outlook - Strong Recovery or Impending DeclineIf bulls break the control line, we can expect the following target 17356-17472-17521. But The rejection from the control line will drive the price to 17150 - 17012- 16900. Nifty has completed Impulsive wave C of wave(c) of wave ((Y)) and started marching upward. In this initiative, we can see a sharp move with three gaps . A gap down on Monday indicates island reversal and selling pressure. Previous Article: (All TP done)
NSE:NIFTY
by forextidings
7
Nifty Outlook - Will the bulls cease the falling knife of Nifty?Price Action Perspective: Price is creating a value area where supply and demand are equal. The control line of the value area has provided eight price touches to confirm the price move, and it has provided five reversals. In this view, Nifty is on the control line of the value area at 17615 . Price has drawn a doji candle on the control line. There are seven pieces of evidence of a reversal on the control, so the level of 17615 becomes a key level for traders. In addition, nifty often gives a gap-up after every powerful doji candle. if it has the potential to reverse the price, nifty can reverse with gap-up. ( You can see green circles in the chart) Conclusion: If Nifty could not sustain above the control line, it would start a downward movement till the lower band of the price area. Price seems strong above the control line, and if the price sustains above 17614 , we may see a low 17760-17914-18123+.
NSE:NIFTY
by forextidings
8
NIFTY Research Report 1: Elliott wave & sentiment analysis Time-frame: Daily Research report: Elliott wave and sentiment analysis Wave ((1)) Price has started an impulsive structure on 24 March 2020 . It has exceeded the supply pressure by creating demand. Wave ((1)) formed as a leading diagonal because there was the existence of seller and supply pressure. All the fundamentals were bearish before this move. So, it was a bit risky to think about a trend change without any proper signal. Price has made a high of 9989 , and the fifth terminating wave completed the wave ((1)). It has started falling downward, and traders thought that price could make another leg down. Wave ((2)) 5th sub-wave has completed the wave ((1)). Once again, the price hasn't signaled trend change, and the bearish perspective was less risky than the bullish perspective. Corrective wave 2 formed a sharp correction, but it couldn't break the 50% level, and the price surged. Price made a higher low. Wave ((3)) Price broke the high of wave ((1)) at 9989 , which has given evidence of an impulsive atmosphere. The price is going for a new high with heavy demand pressure, which has crushed supply pressure. Bullish fundamentals and public participants have skyrocketed towards a new high. Sub-wave of wave ((3)) Sub-wave 1 is an impulse at 1032 . Sub-wave 2 is and sharp correction. Sub-wave 3 is an impulse with 161.8 % Fibonacci Extension. Sub-wave 4 is deep correction at 10790 . Sub-wave 5 is the power extended wave at 15431. Wave ((3)) has made a high of 15431, and public participants started booking profit. Wave ((4)) After creating a high of 15431, buyers got surprising disappointment. Price has started falling due to short-term bearish sentiments and the profit booking. Wave ((4)) is a double zigzag pattern w-x-y, which indicates the single correction was not enough to correct the strong impulse move. It has an alternation of the triangle. Price has completed corrective wave ((4)) at 14151 . Wave ((5)) After the accomplishment of wave ((5)), the price started a bullish move. Price broke wave X, which signaled a bullish atmosphere. Due to surprising disappointment, the price move is not as strong as we have seen in wave ((3)). sub-wave of wave ((5)) Wave 1 is a five-wave impulse Wave 2 is a less time-consuming wave. Wave 3 is a normal extended wave. Wave 4 is a deep correction triple zigzag (w-x-y-x-z), and broadning wedge. Wave 5 is forming and has confirmed its bullish move by breaking wave X. Conclusion: I have the following reasons to consider the current move as an impulsive wave. Wave counts without invalidation. Price broke the X wave of the corrective structure. Sub-wave 4 of wave ((5)) retraced 61.8 % of wave 3. As per rule, the 4th wave can't retrace more than 78.6% of wave 3. Scenario 1: Price is on the bullish momentum, but if price breaks down the wave X to take support, we can expect the following levels: 17790-17528-17316. Scenario 2: If the price is refusing for a retracement and continuously creating new highs, we price can go for 18600- 18825+ ---------------------------------------- Research Report 2: Price action analysis Research Report 3: Multiple time frame analysis using EWT & Price action
NSE:NIFTY
by forextidings
5
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.
NSE:NIFTY
by forextidings
6
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: Show your love by likes and comments. & Do follow for more Ideas.
NSE:NIFTY
by forextidings
3
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'.
NSE:NIFTY
by forextidings
3
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.
NSE:NIFTY
by forextidings
10
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.
NSE:NIFTYShort
by Niftydirection
23