kaushikwbslg

kaushikwbslg

Nifty looks like heading higher after a brief correction and we may see an another move higher towards 18433. But shortly we may have a bigher correction of entire 5 impulse waves.

kaushikwbslg

As analyzed before in my previous post, 3rd wave of BN was briefly stopped at around 261.8% of 1st wave length and corrected slightly. It looks like the fire of 3rd wave has yet not put off and we may another move higher. But for this, BN must trade above 43475 and if it fails to break above that level, we may see a bigger downmove in coming days.

kaushikwbslg

BN has probably completed its 3rd wave journey which is an extention of 200% of 1st wave and expected to correct to 41750 lvl (minimum) and we may first come to 41900 lvl and then go higher and come off to lower level soon.

kaushikwbslg

BN is moving explosively and to my surprise broke the 41650 level forcefully. This is the power of 3rd wave. Clearly 3rd is being extended and standing around 170.7 of 1st wave. From this level we can see some minor correction to 41900 level and then it may start it's upward journey again towards 42500 and even to 42850 level. Sooner or later in a few days we may...

kaushikwbslg

As per my count of Elliott Wave Theory, Nifty most probably has reached it's 3rd wave target. This is because internal minor wave of wave v is extended and is 100% projected length of wave i to wave iii i.e. 17428 to 16914=514 and taking this length from wave iv. I am more convinced that there is a confluance of ratios at the current level of extended major 3rd...

kaushikwbslg

BN most probably making 3rd wave and heading towards 41666 (almost 1.618% of wave 1 length of 1550) and after taking support around the trendline of approx 40900 we are likely to go higher. Then we may see a 3rd wave correction

kaushikwbslg

Today BN was trading within a narrow range of 240 points only. It made an inside candle. BN corrected between Feb 50% & 61.8% of a-b-c. It opened 39545 and drifted down to 39326 and again started going up to its day's high and again came down to day's low. Very volatile market. When I see the double bottom I bought a 39500 call. Made some money. I think BN could...

kaushikwbslg

Aurobindo Pharma has made a significant low of around 400 and started going up and has made wave 1. It corrected wave 1 between 38.2% & 50% and went higher as wave 3 which was very powerful, strong, and fast. Wave 3 has also contained a minor wave i and after correcting minor wave i @ 50% and got past minor wave i. Now, we can expect wave 3 for 530 (as 100% of...

kaushikwbslg

Bank Nifty is undergoing correction after making an a-b-c formation. It should take support around Feb 50% or 61.8% support area.

kaushikwbslg

Wave c is making almost 100% of wave a if it is an a-b-c correction. In that case, we may see a deeper correction to 39000 (61.8% of a-b-c) But if the bank nifty is making an impulsive move (1-2-3-4-5) then we may halt at 39850 (good support) or slightly below at 39800. Either way, a correction is evident. That's why I bought a 39500 pe yesterday. Let's see what...

kaushikwbslg

Look at the confluence of Feb Ratios. The correction of the whole up-move of 6766 pts (From 37386 on 30th Sep-22 to 44152 on 14th Dec-22) is heading towards Feb 78.6% at 38860 and "c" is also heading Feb 123.6% projection of wave "a" (a=2560 )at approx 38860 (it looks like a-b-c correction) If it sleeps below 38860, the "c" wave of BN can go next to the 138.2%...

kaushikwbslg

BN looks range bound and likely to go upward above 41350 with a less probability of slipping below if it breaks 41150 support

kaushikwbslg

We've achieved our 2nd target of 41665 and may be undergoing short correction up to a level of 41400-41350, and if it trades above the 41450 level, we will another uptrend toward the final target of 42200

kaushikwbslg

BN is probably making ABC Wave where we're on the C wave and most likely we're heading towards 42200 lvl. Like and comment if you agree.

kaushikwbslg

BN may remain range-bound today unless it breaks above 40725 or the day's high and breaks below 38.2% correction

kaushikwbslg

Nifty looks like heading down as it may not hold @ 70.7% Feb support and looks weak.

kaushikwbslg

BN is heading towards 40500 lvl making a-b-c correction and may even see 40775 lvl shortly. Would agree or not? Please share your view.

kaushikwbslg

Probably we're making C Wave which would be faster.