InsiderB

An Analysis on Nifty : Simple Elliot Wave

NSE:NIFTY   Nifty 50
Hey Guys,

This weekend lets do simple Elliot wave analysis on Nifty             . There is generally an universal rule followed while using elliot wave . (i.e) Wave 3 will be biggest & at times wave1=wave 5. Lets stick to this simple rule and we have drawn few trendlines on daily and 4h time frame on Nifty             .
The support (redline) is retested thrice and we are expecting a retest before Nifty             reaches 9000's. If you go by current 4h charts we have upper trendline (blue) which also coincides in reversal expectation area (8550's to 8650's), if reversal happens around here then we need to redraw our elliot waves.
So as of now, I am looking for valid close on day & move out of 8600's zone, if that happens Nifty             heading for 8850's. If reversal happens here within 8600's then small pullback to 8300's. Keep this as note to take further trades to decide direction of Nifty             .

Hit Likes if you agree..Thanks for your support...
Happy Trading !!
Yes to long @8450
+1 Reply
InsiderB ASKSANTHOSHPM
Thanks for stopping by & posting :)
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out