nifty-complex correction continue Wait the bottom is still far.
It looks correction wave A has finished today with 5 wave structure. B is seems to be formed in 5-3-5 manner. Bank nifty took support at 100 day exp. moving average with an bullish engulfing candle stick pattern. High leverage trades are not recommended please do your own analysis to find a trade. Regards
A simple chart of Banknifty. The down move A has been completed in Elliott wave. Will go for B now.... B will have first 5 impulse wave and then 3 corrective and then 5 impulse. chart may be updated soon...! Regards....
Banknifty consolidated in abcde longs can be made with SL of invalidation levels
Pls refer to the chart and pls follow. Regards
What we can see in nifty "a" has been done and will move for "b" 14590 and then we can go for "c" Any of my investment or trades I share on my blog are provided for educational purposes only and do not constitute specific financial, trading or investment advice
The inside bar is a popular reversal/continuation candle formation that only requires two candles to present itself. This pattern is a direct play on short-term market sentiment looking to enter before the 'big moves' that may take place in the market. See the mothor bar, trade will happen in the direction where it break first...! Any of my investment or trades...
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trend line indicates the start of a new bullish trend. Buy above upper trend line and sell below lower trend line...! Pls. wait...
NIFTY daily chart Elliott wave view Regards
Disclaimer: This is my personal opinion and I do not have any position in the BANKNIFTY....! view is bearish. Thank you guys for your likes and shares...!
Coal India inverted Head and Shoulder: It looks coal india has crossed the neckline of inverted head and shoulder. Regards
Wave C is usually 100% – 161.8% x Wave A in size, but it is possible that it becomes as big as 261.8% on rare occasions. What I feel is banknifty is making a zigzag with C extended. The further down may be till 2.618x and the level is 34800(PRZ). This is not a trade advise but we can observe the case. Thank you.
BANKNIFTY may have completed 5+3 waves c might be completed at 61.8% or 78.6% trade as per your risk.
It looks the NIFTY has not completed its correction after internal 5th. If we take the bullish scenario we can expect "a" has completed "b" under process and will go for "c" after "b" completes. Overall correction may be upto 23% or 38%, levels are mentioned in the chart. Its only a view on NIFTY not a trading idea but chart may be refereed for further analysis....
BANKNIFTY Shorter Time Frame: Elliott wave view... In my view the BANKNIFTY will complete its abcde pattern and the long may be initiated after completion of the pattern. Not a trading idea, but for reference only. Thank you.