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.
As shown in chart an impulse started from 10535 is almost in its completion range. Maximum upside projection is coming at 10896-10925-10949(shown by ellipse) range. From that range we may see corrective wave downside of 140-180 points.
If Nifty bounce from present level then 10878-10949 is target range where one can sell after identifying pattern with good risk reward ratio.
Buying Range is 10769-10730 but stays below 10730 is a negative sign.
It seems an impulse wave completed from 10985-10535 and wave started from 10535 is also showing impulsive personality as of now. wave (C or 3) is projected more than 161%. Now 38% retracement level is important to watch which is coming at 10687. If nifty decline in this range(10710-10687) with corrective pattern then we can see one more bounce as wave (5). Trade ...
As of now I am not showing overall picture but from 10985 it seems an impulse is started and currently its in 5th wave. minimum projection of wave 5 is already achieved and maximum level of wave 5 is coming at 10592. so from this range we can see a bounce of 85 to 145 points in Nifty.
It seems 5 wave moves is completed from 10334 to 10984 which can be wave C or wave 1 of bigger 3. As of now 10825 is important level for upside reversal. If we found corrective pattern from 10739 to 1092-10825 then one more low below 10739 is possible but if stays above 10825 with impulsive pattern then it will be a good sign.
Wave (v) in blue color is in extended zone and wave (v) in red color will be in extended zone after 11016. Maximum projection of both these waves are coming at 11071.
So we can conclude that from 11016-11071 range small or big decline is possible. This decline can be 45-75 points or it may be 120-200 points.
The only confusion for that decline is because of the ...
Starting from 10334 it seems currently we are in (iv) of (C or 3). wave (iv) retracement level 10740-10693 can be buying opportunity with stop loss of 10655(Not so accurate). From that buying range nifty can bounce up to 10838 and further it can also extend up to 10865-10941.
This sharp decline from 10941 to 10334 is seems like personality of wave C. And recovery towards 10941 after that sharp fall is also indicating that it might be an irregular correction pattern was completed from 10645-10440(as A), 10440-10941(as B) and 10941-10334(as C).
As per this wave count 10974-11126 is the minimum target range, even if wave started from ...
If Retracement levels will come(with Corrective pattern) then it will be a buying opportunity with stop loss of 10622. This retracement levels will change according to new fresh high of tomorrow.
If impulse started from 10494 is wave C then it will not go much higher above 10780.
If impulse started from 10494 is wave 3 then ...
It seems wave (A or 1) is completed at 10565 and retracement levels for wave (B or 2) are given in chart. which can be used as buying zone with stop loss of 10333 which is of almost 100 points so plan your trade by analyzing wave pattern on live chart tomorrow. Good luck.
Here in this chart wave (5) and wave (v) will be in extended zone after breaking 10486 and 10408 respectively. Maximum range of both waves is coming at 10351-10325. so after completion of both wave Nifty can bounce up to 10543 and further it can also extend to 10700.
Most probably wave B completes in this given range and after completion of wave B we can see another downfall of 262 to 322 points in Nifty. But for that trade as of now I have no exact stop loss. In market hours if you get clues for wave B completion then plan a trade with decent risk reward ratio.
"HAVE A NICE AND SAFE TRADING"
Most probably one impulse wave is completed from 10774 to 10512. and we can consider it as wave (A) and now retracement levels of wave (B) is coming at 10612, 10643 and 10674 which can be achieved in coming sessions.
I would suggest not to trade for wave B in options and wait for wave C to trade.
If Nifty decline from present ...