Nifty look like wave structure show C OF c pending target 17660 stop 17855
Nifty started the fall expecting a fall till 14900 - 14600 in long term now its purely bearish this analysis is just for educational purpose only our team is not responsible any profits or losses
If 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 ...
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...
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....
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...
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 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:
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...
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....
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.
Intraday & 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...
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!
From 13596 wave (i), (ii) and (iii) is completed at 13773, 13778 and 15257. there is a confusion if wave (3) or (5) is completed at 15257 so we have to depend on the breakeven point which is coming at 14692. So 14908-14692 will be support range as of now but if nifty trades below 14692 then its a negative sign.
Is Bigger decline possible ???? Nifty & Bank Nifty elliott wave analysis for 25th jan onward
(v of ED) would be complete above 14275 and maximum range is 14340-14391. And if nifty decline from here below lower wedge line then we have check again for support range and breakeven point in 1hour chart. Kindly look at the daily chart idea also. link is given below
In 30min chart nifty is consolidating between support range 11823-11700. Now 11661 level should not be broken if nifty needs to go up.
In daily chart from 7511 wave (1), (2), (3) and (4) is completed at 9039, 8055, 11794 and 10790 respectively and from 10790 wave (5) is started and projection of wave (5) is coming at 12426-13437.