NIFTY is making a bounce after a clean 5 waves down in daily chart which indicates there is likely going to be another set of 5 waves down in 3 or C, depending on how we treat the first 5 waves down (1 or A). Watch the videos for important levels to watch out for.
#nifty50 has formed a 5 wave decline in daily chart which is an indication of the trend of changing from up to downside. Depending on how this move unfolds, check out the potential targets for this move in the video.
I see two major possibilities in NIFTY50 from Elliott Wave perspective, marked in red and blue. As per blue counts, B of ABC down was done at 24857.75 and we are in C down. The down-move in C so far was corrective W (internally WXYXZ, or triple zigzag) so the bounce this week should be…
NIFTY seem to have started wave C of ABC down. At the minimum, we should be looking at 23000 target which is 61.8% of wave A. 78.6% and 100% (equality) are around 225000 and 22000 respectively. Having said that, wave C might evolve differently though the trend should remain down largely from here. Expecting all…
NIFTY50 gave a monthly negative close after a clear 5 wave rise. Does it mean we are going to see a crash or it might be just a regular pullback? In this video, I have covered both alternatives with possible levels to watch out for.
RELIANCE seem to have formed H&S formation. Structure is tilted on the left and has formed over a long period (~10 months). Finally the structure seem to have completed though the price is still trying to bounce from the neckline. Today we have an evening star kind of formation which might push the price towards neckline…
I was reviewing long term EW counts of NIFTY and here is what I think. Overall, I can see potential 2 alternatives and have highlighted them in blue and red respectively. This is a monthly chart. Blue AlternativeLet’s start with blue counts first. Larger degree wave 1 (marked by square blue box) which started from…
Here is the daily chart of NSE:NIFTY which has started showing some signs of weakness. Firstly, you can see a head and shoulders at the top with neckline in blue. Neckline has been broken down. Head and shoulders (H&S) is a classic reversal pattern which is good at capturing tops and bottoms. This could be…
From the 19th August top at 17992, Nifty has fallen in 5 waves impulse (1H) which suggests the short term trend is down. After completion of 5 waves down, Nifty rose in a corrective pattern (ABC) and stopped around 61.8% retracement which gives confidence that the rise is indeed corrective. From the C made on…