Nifty Forming an Ending Diagonal? Key Breakdown Level Ahead #NiftyAnalysis #TechnicalAnalysis Nifty at a Critical Juncture: Wedge + Divergence Warning 🚨 #Nifty #PriceAction #Elliottwave
Current price action continues to unfold within a complex W–X–Y corrective pattern, and the latest rise appears to be forming a contracting wedge in the final leg of wave (c) of X. Both volume depletion and clear RSI bearish divergence support the possibility of an ending structure. A decisive breakdown below the highlighted support level would confirm the completion of this wedge and open the path toward the larger wave (Y) target zone. Until that level breaks, the pattern remains unconfirmed, but the internal structure, momentum behaviour, and time relationships all favour a corrective outcome rather than the start of a fresh impulse. Monitoring the wedge’s 2–4 trendline will be key for validation.
Stay tuned ! Stay Alert...! I dont want my follower to loose at the top.
x handle: gkneowave
Disclaimer: This analysis is for educational and informational purposes only and should not be considered investment or trading advice. Market conditions can change rapidly, so always do your own research and consult with a qualified financial advisor before making any trading decisions. I am not responsible for any losses incurred based on this analysis.
Current price action continues to unfold within a complex W–X–Y corrective pattern, and the latest rise appears to be forming a contracting wedge in the final leg of wave (c) of X. Both volume depletion and clear RSI bearish divergence support the possibility of an ending structure. A decisive breakdown below the highlighted support level would confirm the completion of this wedge and open the path toward the larger wave (Y) target zone. Until that level breaks, the pattern remains unconfirmed, but the internal structure, momentum behaviour, and time relationships all favour a corrective outcome rather than the start of a fresh impulse. Monitoring the wedge’s 2–4 trendline will be key for validation.
Stay tuned ! Stay Alert...! I dont want my follower to loose at the top.
x handle: gkneowave
Disclaimer: This analysis is for educational and informational purposes only and should not be considered investment or trading advice. Market conditions can change rapidly, so always do your own research and consult with a qualified financial advisor before making any trading decisions. I am not responsible for any losses incurred based on this analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.