NSE:NIFTY   Nifty 50 Index
Notes on the chart
Regards
Comment: You guys should think of this unconventional approach of reading price action with respect to Elliot wave principles.

Comments

Hi JJ I am not even a beginner in this technical discussion but how A matches A, B matches B and C Matches C because the levels are different except that high and lows in terms of no. of points are somewhere close.

The down trend is the blue line Right? So if Nifty convincingly corres this blue line that we can look foward to next level of 12100?

Thanks for your paitences

Regards
+1 Reply
Bravetotrade namitsabharwal1965
@namitsabharwal1965, In strong uptrend, as we are in Nifty, we normally look for equal measured moves for possible targets.
I also carefully look at the retracements and try to find relationship between them. The extent or degree of correction is important. See how Cs are of equal degree and so are Bs and As.
As of now it seems we are going to enter into the last up leg of this rally since March.
+1 Reply
excellent observations
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