Nifty Elliott wave analysis for 4feb 2021
Nifty & Banknifty elliott wave analysis for 3feb 2021 onward
Nifty Elliott wave update for 2nd feb 2021
Nifty Elliott wave analysis for Budget day(1st feb 2021)
From 14753 it seems impulsive decline is going on and wave and is completed at 14371 and 14491 respectively. from 14491 wave (1), (2), (3) and (4) is completed at 14260, 14438, 13713 and 13966 respectively and from 13966 wave (5) is started. minimum projection of wave (5) is already achieved at 13669 and 61% is coming at 13486. for exact completion range we...
As expected in our last video extended wave 5 started from 13953 retraced 100% in quick time. Video link given below.
Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending. 1965-1986 is an immediate resistance range for wave (iv) retracement. reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points...
Is Bigger decline possible ???? Nifty & Bank Nifty elliott wave analysis for 25th jan onward
RED COUNT: from 20405 wave (i), (ii) and (iii) is completed at 30945 and (iv) completed at 28976. from 28976 wave (v) started and minimum 38% projection coming at 33003. Banknifty declined sharply without achieving its minimum projection. so lets have a look at on blue count. BLUE COUNT: from 20405 wave (a or i), (b or ii) and (c or iii) is completed at 24823,...
Nifty Elliott wave analysis for 18jan 2021 onward
Nifty is still in positive zone as long as trades above 14343. 14395-14343 is immediate support range.
Nifty Elliott wave analysis for 11th jan 2021 onward is explained in detail.
(v of ED) would be complete above 14275 and maximum range is 14340-14391. And if nifty decline from here below lower wedge line then we have check again for support range and breakeven point in 1hour chart. Kindly look at the daily chart idea also. link is given below
Bank nifty retraced in 23%-38% range with corrective pattern. It seems wave iv is completed at 30893 and projection of wave v is coming at 31861-32459. Negative only if trades below 30721.
Reliance is looking positive after completion of a corrective wave at 1855. Now breaking above wedge line will leads to given targets in coming days. wait for breakout above upper wedge line OR if closes above 2000. - Wait for breakout - Closing below lower wedge line will be SL.
Retracement from 13967-13864 is not even 23% of wave iii that is why there is a point of confusion if wave v is started from 13864 OR wave iv decline is still pending. Overall scenario: (1) If nifty decline from here then 13847-13722 is support range and 13722 is trend reversal point. (2) If wave iv is completed at 13864 then 14184-14381 is wave v projection range.
In this daily chart it seems wave (1), (2), (3) and (4) is completed and wave (5) is in progress from 10790. 38% and 61% projection of wave (5) is already achieved so its in extended zone. Maximum level 100% is coming at 15096 which is rare case. From 10790 wave (i), (ii), (iii) and (iv) is completed and projection of wave (v) is coming at 14272-14977 range and...
If we are right at identifying pattern then Banknifty should retrace from wave (4) in 30907-30628 range without breaking above 31454. And 30907-30628 is also support range.