Nifty 15min chart suggest from 13402 wave 1, 2, 3 are completed at 13597, 13447, and 13773 respectively. If wave 4 also completed at 13658 then wave 5 projection range is 13800-13887 but if wave 4 is still running then 13696-13648 is support range in which wave 4 can complete and then 5 will start. Nifty will be negative if trades below 13648. Overall 13800-13887...
Nifty already achieved its minimum projection. Now we need to see the bounce from 13402 to find out reversal range.
In this 30min chart wave v started from 12790 is in progress in which wave (i), (ii), (iii) and (iv) is may be completed and wave (v) has started from 13402. 13704-13890 is projection range for wave (v). 13422-13325 is an immediate support range which was retracement range of wave (iv). Nifty negative only below 13325.
In this 2hour chart from 10790 wave (a or i) and wave (b or ii) is completed at 12025 and 11535 respectively. In (c or iii) wave i, ii, iii and iv is completed and wave v is also achieved its minimum projection of 38% and 61% is coming at 13785. 13097-12798 is an immediate support range as of now.
Wave (5) started from 10790 is looks like a three wave move as of now. wave (c or iii) started from 11535 achieved 100% and 123% while 161% is coming at 13534. 12868-12613 is immediate support range and nifty is positive as long as trading above 12613. Nifty turns negative only if trades below 12613.
In 30min chart it seems wave (c or iii) started from 11535 is in its last stage of completion with pattern of Ending diagonal. 12817-12615 is an immediate support range. 13159-13217 is an immediate resistance range.
In hourly chart it seems wave (c or iii) is still running from 11535 and from 11535 wave (i), (ii) and (iii) is completed at 11921, 11756 and 13146 respectively and wave (iv) is completed at 12790 or still running and wave (v) is still pending. So overall nifty is positive as long as trading above 12530. projection of wave (v) is coming at 13405-13785 range from 12790.
In this 15min chart wave (iii) started from 11756 not even retraced 23% yet so may be wave (iv) is running and wave (v) will start on upside after completion of wave (iv). 12678-12502 is immediate support range and nifty if trades below 12502 then only negative.
In this 1hour chart it looks like a three wave move and it can be abc or 123. So nifty is in positive zone as long as trading above 12417 which is 38% retracement level. 12626-12417 is immediate support range and nifty negative only if it trades below 12417.
In this 1hour chart wave started from 11535 is sharp and steep and created gaps so i have given Alternate wave count. If its wave (v) then 100% projection is coming at 12770 and wave (v) above 100% is rare case so if nifty trades above 12770 the we will consider Alt. wave count.
Wave (5) started from 7511 is currently in its 5th wave and 38% is already achieved. 61% is coming at 13437. To find top we have to see wave (5) started from 10790 in lower time frame.
No change in monthly chart posted on 17oct where minimum target was new high is achieved now.
Nifty is forming a lower lows and there can be a pull back as per the pattern and the Fibonacci level which is mentioned in the chart. the pull back can sustain only on intraday time frame and not for the swing for upside. therefore 11770 to 11800 will act as a crucial zone to decide the market movement since 3rd November 2020 is the US election. post...
In this 1hour chart it seems wave (i), (ii), (iii) and (iv) is completed at 11305, 11181, 12025 and 11535 respectively. And from 11535 may be wave (v) started and already achieved its 38% projection and almost near to 61% projection. so now we need to be cautious on buy side. The only confusion in this chart is the speed of wave (v) from 11535 is sharp and...
Posted this daily chart idea on 17th oct. and we are near to minimum target. so we need to concentrate on the bounce from 10790 to find out top. 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.
Nifty can possibly move further on STOPLOSS HUNTING zone. however the target is achieved on FIBOCACCI level 1.618 and its time for a reversal.
Decline from 12025 is looks like corrective as of now. so we can still expect bounce towards 12007-12298 range in coming days. Invalidation point for this view is 11305 which is well below from current level so for immediate move lets look at 15 min chart from decline 12025.
Nifty and Bank Nifty both are week for a short tern. Nifty upside : 12140 if it breaks the resistance down side : 11300 once it breaks the wedge pattern Best option strategy is to HEDGE for the last expiry of the month or for the oct first expiry