rf16saun
Long

Nifty ready for Wave 3 and break to new high ?

NSE:NIFTY   Nifty 50 Index
With positive global market performance, Nifty             looks like it completed the wave 2 and to see a gap up tomorrow seems to very high, the rally tomorrow will be wave 3 if it breaks 10550 area and ultimately to complete the wave 5 towards 10600. Price is in a channel under a bigger channel, we have already tested the bigger channel support last week and now it is in the inner channel and succesful break out tommorw above 10550 will confirm the next leg up. If in case 10400 is broken to the downside then this set-up will be invalidated.
Trade closed: target reached
Perfect sir .... Awesome chart on elliotwave
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What view sir?
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rf16saun dheerajsood
@dheerajsood, current count suggest we have one more push up towards 10,700 area to complete the Wave 5 to complete Wave 3 before we role over. And today's side ways movement look likes the Wave 4 triangle which already completed a,b,c,d and e. If this count is accurate then tomorrow we should see a new high. Now alternative is to count the current run as completion of Wave 5 of 3 and we are in corrective structure but at this point i am not convinved of this view but either way Wave 4 drop is pending should have this drop before the budget to complete the Wave 4 then to run to Wave 5 after the budget. There is a another count unfolding now on daily if we get positive response from the budget this drop will be Wave 2 and this year will get Wave 3 run. These are my plans at this point do your due dilligence because market never listen to anyway except we all disciplined and planned for alternatives...Hhappu trading tomorow
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and yeah , excellent analysis! Bang-On!
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Should We Go Short at the completion of the fifth wave for wave A of 4
Wave 2 as per my study went on for 1 year.
What would be the time cycle targets for A-B-C- of 4 of---
Thanks
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rf16saun dheerajsood
@dheerajsood, Wave 3 will be the longest and some times extended Wave 5 but Wave 2 been longest is something need to be considered. Elliot wave or rather nothing should be forced to a chart if see a count then do the analysis on that if not move to another one never force the market let the market come to you.
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