Wave Analysis
Nifty Outlook- Ascending Triangle (Trading Plan) (22nd Oct2020)Traditional Chart Pattern- Ascending Triangle Discussed along with trading strategies in Hindi & English both. Thanks for watching the video
Active Currently - Plan A - Sell Below 11955 for 11790-11810 target zone (Stops- 11960)
Plan B- Buy in 11790-11810 with stops below 11750/11760 for target zone 11980-12000
Plan C- Sell Below (Strictly Stops above 12025) for target zone 11870-11880
Plan D- Buy in 11850-11875 with stops below 11790 target 12025 / 12250 +
Elliott Wave basic part 1In the Five-Wave pattern, 3 of the waves are in the Directional Movement they are 1,3 and 5.
The remaining 2 waves are Countertrend interruption they are 2 and 4.
Waves 2 and 4 are necessary for the directional movement to happen.
3 Rules of Wave Pattern
>Wave 2 can never overlap wave 1
>Wave 3 can never be the shortest
>Wave 4 never enters the wave 1
Waves 1,3 and 5 are motive waves. They are powerfully compel
Waves 2 and 4 are countertrend. They are a response to the preceding.
Complete market cycle of elliott wave over the NIFTY-EducationalI have described the complete market cycle of elliott on the weekly chart of nifty as well as two model structural development which are Motive and corrective. Now that I've reviewed all types of waves, I can summarize their labels as showed in the nifty chart.
If you have any query regarding to my chart or mistake in it, let me know throughout the comment.
thank you.
TITANIt has made a Bearish Harmonic Bat in daily time frame. It could retrace till 1200/1175/1100 provided it does not start sustaining above 1270 once again.
Harmonic Patterns are derived from Fibonacci Ratios when each angle of retracement aligns to confirm a reversal probability of 38-50-62 % of the existing trend.
Dow Corrective Wave B and C PendingDISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Just for educational Purpose