chirag_Khasiya

chirag_Khasiya

wave 5 started from 11181 is already trading in its extended zone and 100% projection is at 11696. above 100% projection of wave 5 is a rare case. And if nifty cross 11696 then we will change wave count as under: 10790-11305 wave (a or i) 11305-11181 wave (b or ii) 11181-116** wave (c or iii) is running. If we are right in this count then nifty will decline...

chirag_Khasiya

Nifty needs to break below 11441 in quick time if it completed its wave (v) at 11578 and 11383-11181 are immediate targets because extended wave (v) retraces 100% in quick time. But it nifty crosses 11578 without breaking below 11441 then we will consider wave (iii) completed at 11578 and wave (v) started from 11452. Move from 11221-11578 is very sharp and steep...

chirag_Khasiya

Wave 5 started from 11181 has achieved its minimum projection. By looking at the internal wave count of wave 5 it seems wave (iii) is completed at 11424 and wave (iv) is completed at 11383 OR still in progress and wave (v) is still pending.

chirag_Khasiya

Earlier we have considered wave iii at 11072 but now it seems iii has completed at 11305 and wave iv at 11181 which is almost 23% retracement. And if wave iv is completed at 11181 then projections of wave v is coming at 11377-11499. we were expecting more than 38% retracement because counted five wave completed at 11305 and looking for wave (b or ii) which can...

chirag_Khasiya

Nifty may have completed impulse wave at 11305 and retracement levels are given in chart where 23% is already achieved.

chirag_Khasiya

Now it seems from 11794-10790 an impulse wave is completed and nifty may consolidate between 10950-11410 in coming 2-3 sessions.

chirag_Khasiya

In 30min chart immediate resistance range is coming at 10900-10970. Note:- I am considering internal (i) and (ii) of (3) because expecting bigger decline. if this wave count is wrong then nifty can bounce quickly towards 11260.

chirag_Khasiya

As mentioned in 4hour chart nifty already broke 10934 and in negative zone. 11106-10985 is immediate resistance range and positive only if trades above 11106.

chirag_Khasiya

In this 45min chart from 11794 its a three wave move as of now and immediate resistance range is coming at 11164-11251 and nifty is positive only above 11251.

chirag_Khasiya

Nifty is trading in support range of 11263-10934. But if nifty breaks below 10934 then it may fall towards 10600 in quick time.

chirag_Khasiya

Bounce from 11185 is looks like an impulsive wave and wave v of that impulse has already achieved its minimum projection. Now this impulse can be: (i) wave C of irregular correction-Nifty can decline below 11185 in that case. OR (ii) New impulse- Nifty can give retracement of this impulsive bounce and then again bounce above 11794.

chirag_Khasiya

22540-22857 immediate resistance range. above 22857 positive. BN is trading between important levels 22857-22127.

chirag_Khasiya

Nifty may decline towards 11116-11006 range without breaking above immediate resistance range 11279-11338. If break and stays above 11338 then only positive.

chirag_Khasiya

from low 11325 Looks like a corrective pattern is forming so 11560-11615 is resistance range.

chirag_Khasiya

From 11111 wave (i), (ii), (iii) and (iv) may be completed at 11290 and from 11290 wave (v) may be started and in which i, ii, iii and iv is completed and v might be complete in the range of 11460-11491 range.

chirag_Khasiya

From 7511 its looks like double zigzag correction . But to find out top(End of (c)) we need to look at the recent bounce started from 11111. I could not see any other pattern other than double zigzag correction. But it doesnt mean I am shorting blindly. do your own analysis and make trading strategy accordingly.

chirag_Khasiya

As of now decline from 9889-8807 looks a three wave move, but the bounce from 8807 doesn't look impulsive so it can be a corrective wave of 9584-8807 and Nifty can decline again below 8807. 9104-9195-9287 can act as a resistance zones.

chirag_Khasiya

As of now bounce from 7511-9889 looks like corrective bounce and nifty can decline again towards 7511. Only a sharp bounce above 9584(without breaking 8807) can save nifty from falling towards 7511.