Nifty Elliott Wave daily count shows that it is either in wave ii or wave b. mid of last week nifty seems to have completed the wave c of wave B in an ending diagonal.
Nifty might have completed the
5197 or a small dip is still left to 5192/5187 and then nifty will head
upwards. This will confirm the wave c count. Keeping 5169.10 as the stop loss
level or invalidation level.
Elliott Wave count of this correction
is detailed in the 5 min chart analysis below.
Elliott wave count for Nifty 5
min chart:
Elliott Wave count suggests
that Nifty is currently forming the ‘C’ in an impulsive move down. So far it
has completed i,ii, iii & iv . It may complete with a small bounce and then
a dip to around 5187 range [alternatively it may commence the move up from here
marking the wave v completion 5197] this can complete the wave v (five). This
may complete the wave ‘C’ of ‘b’. Then market should be heading high in impulsive
manner to complete the ‘c’.
Nifty Elliott wave count of daily chart:
Nifty Elliott wave count of hourly chart:
Nifty Elliott wave count of 5 min chart:
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