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.
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...
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.
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.
IF nifty declines back from 10987-11065 level then one more decline is possible towards 10584-10534.
Wave count of Pattern here(Left...
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...
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.