Nifty achieved its minimum projection of wave (v) which is 10722. And maximum projection of wave (v) is coming at 10440. so wave (v) of could be completed in 10722-10440 range which is big so lets concentrate on decline from 11181 in lower time frame chart.
Most probably Nifty completed wave (iii) of at 10849 and 11051-11176 is the resistance range. wave (iv) may be completed at 11080 or it may complete in 11051-11176 range. And from there Nifty may decline 430-690 points as wave (v). If nifty breaks 11176 comfortably with sharp bounce then its different wave count.
Today doing a different analysis - Considering the recent tops.
We are doing 2 analysis, From recent 2 tops
1. Elliot wave count from 12103 top , Here we plotted ABC, our A-B are clear, and trying to plot C and the target.
2. Elliot wave count from 11982 top, Here we plotted 1-2-3-4-5, Our 1-2-3-4 are clear and trying to plot 5 and the target.
Everything's mentioned on chart.
if you are interested in more....
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following Indian market downfalls nobody expecting easy relief although Nifty 50's all stocks are in negative since July.
the big trader is bleeding hugely and they're pretending there's nothing bad and all good some are blaming the government and some are publishing apologize letter to their investors on social media. the damage is real things may change but it...
In channel resistance we can short nifty also the targets are given below. If it is not reaching the first level of target then it will start to rotate price. Also the price can be pushed upward near control price so don't go for buy and trap yourself.
NIFTY IT: WEEK-TECH-SHEET->29th July 2019 to 02nd August 2019
NIFTY IT moves around +440.35 pips from 29th July 2019 to 02nd August 2019, in which nifty IT break last week 22nd July 2019 to 26th July 2019 top 15645.70 as well as bottom 15265.35.
We can go for buy in nifty above today's high. Target is channel resistance. From channel resistance we can short or open below control price we can short (confirmation in candle needed)This for tomorrows view.
Nifty (Spot) Buy Near 11540 Stoploss 10490 Target 11640- 11700
Reasons for Trade- 1.Nifty has formed bullish candlstik pattern on daily chart
2. Excess buying is done near to 4 hour trendline 4th time
3. Price has closed above the 4 hr as well as channel trendline support.
4.Small Pullback is expected after 3 days fall
5. Risk Reward is 1:2
Nifty cracks through 11600 with big momentum. With the way the index has fallen, weakness would be carried on to coming sessions. Immediate support at 11550 looks to have been obeyed, below which we could also see a trendline, which could provide some relief. However, support may only be temporary and it all plays down to whether the level of 11550 holds or fails....
Nifty Sell Near 11870-72 Stoploss 11905
Reasons For Trade- 1. Price took resisstance Near IMP level of 11900. 2.On 1 Hour Chart Bearish Candlstick pattern is formed. 3.Excess Selling is started on 15 minute chart from 11900 resistance. 4. Risk Reward more than 1:1.5
Nifty breaks out of the falling channel. However, index might be trading in a range for while i.e. between 11650 & 11840. Only a breakout on any side would tell us the next potential trend.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading...
Nifty Buy Between 11750-11740 Stoploss 11695 Target 11850/11900 Reasons For Trade-1.Nifty Has given channel Breakout on 15 minute chart as well as on Daily Chart. 2.Strong Bullish candlstick pattern formed on daily Chart.3.On Daily Chart Candle Has closed out o the channel. 4 Price has taken strong support on daily chart on 50EMA. 5.Risk Reward Ratio is 1:2