My Nifty Overview //Nifty Trend Analysis //ELLIOTT WAVE ANALYSIS

Look at the bigger picture.
It might be a 5-3-5 corrective pattern(ABC) or 3-3-3 corrective pattern (WXY).
If Nifty crosses 17135 recent swing high then it will be a buying opportunity in intraday basis. Targets of 17330
If Nifty crosses 16997 recent swing low then it will be a selling opportunity in intraday basis. Targets of 16800
Please do not take a trade just after the breakout wait for the price to reach its demand zone (for upside) to go long &
wait for the price to reach its supply zone (for downside) to go short.
This will ensure stop loss will be less and reward will be more.

Comment:

Even the sub waves of sub waves of sub waves follow the same rules.
Don't get tempted by the breakout Wait for a retracement always.
If the retracement doesn't come its not our trade.