Hi Guys,
Nifty is entering in the very crucial range(10900-11200), and how it going to behave in this consolidation range is going to plot the further trace about it. But as of now, there is a clear wave pattern formation is visible on the charts correction is still pending according to Elliot Wave theory, whether it is for the 10-year long bull run(Target around ...
LEVELS MENTIONED IN THE CHART.
Also, the RSI gives no pre-guess for a directional move. Waiting for a breakout would be a better strategy.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
Nifty is likely to enter the bearish cycle. Short opportunity is at 10944 range. Please observe the price action near the range for shorting the index.
We are facing a stiff resistance upside at 10925/30 level and strong floor at 10860/40 level. The bulls manages to push the price up at 10860/40 level and closing is near high every time, this shows some bullishness. It's always had been a great opportunity to buy at 10840 level. We would again buy at the support if it holds above 10840 , below that we could see ...
Nifty & Cheteshwar Pujara -The White Walkers - We should learn the art of patience from Mr. Pujara.
Thank You, Sir, for giving us such a wonderful performance.
14:05 Hrs 17th Jan 2019
Last Price@10862
Target achieved
Target 1@10865 done as per the last update- selling from 10905-10915 - day top zone
In progress
Target 2@10825 - in between there is minor ...
Considering end of wave e(triangle at 10864 level) and wave 1 completed today, we may get good opportunity to ride wave 3 by shorting at 10780 to 10825 level where wave 2 might complete. Keep Sl 10924, technically SL will be 10865 but if triangle has not yet completed and still in WXY pattern then 10924 will be the SL. We will keep alternate waves in mind while ...
It seems an impulse is completed from 10535 to 10923 which could be wave (A or 1) and wave 10923-10629 can be (B or 2) and now 100% and 123% projection of (C or 3) is coming at 11017 and 11109 respectively.
A positive Break out as expected happened in nifty. Wave count on daily chart as requested by viewers added here. I am not confirming this count as the perfect one, I agree that there are many alternatives, kindly read this as a study material. Friends those who disagree some points about 4th wave in monthly chart do not worry, you may be right too. . Wave count ...
We are probably in wave 5 black, of Wave(5)pink,
of Wave violet, of Wave III blue.... ie: 5 of (5) of of III.
Probably in the sense that, an irregular if completed must show a swift recovery, which did not happened here yet and we are stuck at 10985 ie: between 50 &62% of c of irregular abc. This should have breakout immediately on either side. If down we ...
We generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better ...
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![NIFTY: Nifty probably is in wave 5 of(5) of [3] of III (A quick update)](https://s3.tradingview.com/k/kp7La9QS_mid.webp "Nifty probably is in wave 5 of(5) of [3] of III (A quick update)")
