Analysis After 20th Dec 2022 Closing
Wave Count -
Nifty is in (5)th of 5th of IV Wave , means one more bullish movement is expected.
Also, strong supports are just below close of 20th Dec 2022.
1. 38% Retracement of 3rd Wave in Small Cycle. (Orange)
2. Previous High support is just below 38% support.
Divergence - Bullish Divergence in 1 Hour time chart in...
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 3-5 times.
Dow closing above level 35683 and if sustain we can say that it can move further for target of 42240 while following below levels and considering it Support and Resistance.
Level 1 35683
Level 2 37960
Level 3 40448
Final Level 42240
Support Level
Level 1 35084
Level 2 33562
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 4-5 times.
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 4-5 times.
As we saw in previous chart it break all the resistance level and made an all time new high so changing the wave counts and considering the end of big wave 1&2 @ 15469 & 14173 respectively,
So If Nifty closes above 15954 and sustain then we can see a rally for 16352 which will be nifty's all time high
TREND ANALYSIS & TRADE SETUP !
Elliott Wave Counting !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 5-8 times .
Hello, Friends...!
How are you?
After a long time, I've used here Break-Down Strategy...
The Control Price is too far from the current price level.
The price is trading near the Value Low area which is near 11476 .
No Activity Zone is the upper side of the Control Price.
The Wave COUNTING: our wave counting direction is up-ward therefore, the...
TREND ANALYSIS & TRADE SETUP !
UPDATED CHART !
Head & Shoulder Chart Pattern !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 12-18 % Gain.
Trend Analysis & Wave Counting !!
Follow Chart Instruction.
Invalidation Point for (4) th wave Completion is 188.75.
Hence we can Buy in deep near 195-200 range by taking stop below 188.75
TREND ANALYSIS & TRADE SETUP
Wave Counting
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
R:R is 7-8 times.
Lets look at the analysis --->
1> EW ANALYSIS :-
Assuming this trend from 1490.9 level in corrective phase, we will assume impulse wave completed at 830.1, after that it slightly got complicated, still we will keep prefer count as B as flat, now we might be in wave c of B.
2> Classical TA :-
a. the downtrend channel has given a breakout
b. formed a minor...
I haven't counted waves on nifty bank here because it is as similar as nifty 50 weekly chart. Please refer to the previous nifty 50 chart posted yesterday.
