chirag_Khasiya

chirag_Khasiya

In monthly chart decline from 12428 can be wave C of irregular correction(Nifty can bounce again for new high in that case) OR it can be impulse wave A(Nifty can decline again for a new low in that case). 6338 is an invalidation point for this wave count.

chirag_Khasiya

From recent high 9889 to 9117 on down side nifty has completed an impulse wave and from 9117 corrective wave may be in progress now and after completion of this corrective wave nifty can decline more than 700 points.

chirag_Khasiya Updated 

Pattern from low 11625 is also complex. Trading strategy should be sell nifty with strict stop loss of 12001 for the targets given on chart. It can also go below 11625 if bounce from 11625 is wave X2 of Triple zigzag correction.

chirag_Khasiya

Triple zigzag pattern is violated as of now and if nifty completed correction at 11625 as double zigzag then nifty needs to go for new high very fast. Any consolidation below 12000 would indicate its still in X2 of complex correction. Will update if found an exact pattern.

chirag_Khasiya

It seems Nifty currently in triple zigzag correction and will complete its last abc below 11625(most probably in an ellipse drown in chart). So Nifty needs to go below 11617 before breaking upper wedge line. But if it breaks upper wedge line before going below 11617 then we could conclude that correction is completed at 11625 as double zigzag.

chirag_Khasiya

Decline from life time high 12102 is seems to be corrective and looks like double zigzag in which 12102-11770 as first abc, 11770-12000 as X and 12000-11625 as second abc. Now If correction is completed at 11625 as double zigzag then we will see new high above 12102 OR pattern could also turn in to Triple zigzag(In which one more low below 11625 is possible from...

chirag_Khasiya

It seems Nifty is in wave 3 of (C or 3) and if 3 completed at 11487 then wave 4 retracement levels are 11313-11206 and for upside 100% and 123% projection of wave (C or 3) is coming at 11566 to 117098 respectively.

chirag_Khasiya

As of now consider 10944-10914 as support levels. And only below 10914 we can think of downside reversal. If wave C started from 11118 completed at 10585 then nifty needs to bounce sharply above 11118.

chirag_Khasiya

Pattern is indicating minimum decline towards 10689-10644 range. 10940 can be the Stop loss for this trade.

chirag_Khasiya

Pattern at low 10585 is indicating irregular correction which is caution for longs and Nifty can go below 10585.

chirag_Khasiya

It seems wave started from 11118 is completed as impulse wave and it also achieved minimum projection(shown in my previous post) of wave C. And if we are right at identifying pattern then nifty needs to bounce sharply towards 10892. So need to concentrate on the wave pattern started from latest low 10620 to catch immediate move. Even if wave C is not completed at...

chirag_Khasiya

Normal projection of wave C could be a reversal range in nifty for high above 11118. To find out exact reversal we need to concentrate on the decline from 11118. will update here...

chirag_Khasiya

For Bull View Nifty will have to move fast above 11118, any delay below 11118 is a warning for bulls. Nifty if could not sustain 10913 level then it may fall in the range of 10534-10334 as wave C as shown on chart.

chirag_Khasiya

Irregular correction at from 10629-10987 is indicating bounce above 10987. And if Nifty trades above 11065 which is 123% projection of 10534-10923 then it can further bounce sharply towards 11700. OR IF nifty declines back from 10987-11065 level then one more decline is possible towards 10584-10534. Wave count of Pattern here(Left...

chirag_Khasiya

I would like to wait till the pattern given in ellipse is clear. As of now this pattern has multiple possibilities which is not good for swing or positional trading. So try to catch small pattern for intraday trade. Have a safe Trading...

chirag_Khasiya

If Nifty bounce towards 10880 and above before 10:00 AM then only we can think of upside above 10987 otherwise Nifty may fall towards 10600.

chirag_Khasiya

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.

chirag_Khasiya

Wave started from 10535 is completed at 10923 as an impulse and now retracement levels are given on charts and from that levels we may see bounce back as wave (C or 3).