Kshitij_008

Nifty in Waves - 2nd July 2020 - Continued

Long
NSE:NIFTY   Nifty 50 Index
Hi

In continuation to earlier analysis, Now the picture is getting clear.
Can see the 5 Wave structure as mentioned in the chart.
So currently, the last 5th wave is going on & the most it can go is upto 650/680 points for simple reason, the 3rd wave will not be the smallest of the 3 waves.
So we can assumes from the lows of 10300 approx we can have a maximum top around 10950/10980.
But there is a gap in between 10751 & 10827, so my assumption is this wave might get completed near these levels.
SL for this upside is at 10300, 30 Mins CLBS .

Comments

But 3 wave should be the longest wave, isn't it?
Reply
@reedham, check again ..3rd wave cannot be the shortest of the 3 ...there are many structures...1st wave extension, 3rd wave extension (common) & 5th wave extensions.....
Reply
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