Epic_Elliot

Epic_Elliot

Based on the wave analysis, banknifty may form a top near its all time high before retracting to 23.6% or 38.2% level from there

Epic_Elliot

This is further to my analysis on 23rd August, 2022, where I tried to analyse the index on all time frames. The wave (a) was corrected by almost 38.2% to 17626.55 level. The price further went down to 17499.25 making a 3 wave structure and then extended the wave (a) correction to 17726.5 making wave (b) as complex correction w-x-y. Wave (b) seems to be completed...

Epic_Elliot

View: Bearish in short term, Bullish in long term This analysis will show how the Nifty 50 index unfolds into the Elliot Wave patterns. First, we try to understand the wave structure in the weekly timeframe. The first wave traversed from 279 to 6357.1 which, in turn, corrected to 2267.7, which is approx. 61.8% of wave 1. The third wave was normal and...

Epic_Elliot

View: Neutral to Bearish in short term Nifty 50 is about to complete 5 wave structure of corrective wave A. Price may go up till 17650 levels to complete wave B of correction before going down till 17164 levels to complete wave C of the correction. This level may be the end of 4th wave of 3rd of 3rd. Note: It is just for education purpose, not an investment...