Nifty seems to have completed the wave 4 at Friday low 5294.20. Further formation in nifty appears like the beginning of wave 5 of which wave 1 and 2 are over. Now Nifty is in wave 3. Possible target areas as as shown in the following table. [Let us go with target range rather than absolute target as the probability of the former is very high and we should use that as guidance to trade]
Nifty Elliott Wave analysis of daily chart:
Nifty Elliott Wave analysis of hourly chart:
Nifty Elliott Wave analysis of 5 min chart:
Nifty 9 RSI and 35 D chart:
Wave
|
Wave start
|
Wave End
|
Length
|
Target1
|
Target2
|
Target3
|
Target4
|
|
1
|
5294.2
|
5330.1
|
35.9
|
|||||
2
|
5330.1
|
5309.15
|
-20.95
|
5316.39
|
5312.15
|
5307.91
|
5301.88
|
|
3
|
5309.15
|
-5309.15
|
5345.05
|
5367.236
|
5403.136
|
Option 1
|
||
5343.047
|
5363.997
|
Option 2
|
Nifty Elliott Wave analysis of daily chart:
Nifty Elliott Wave analysis of hourly chart:
Nifty 9 RSI and 35 D chart:
No comments:
Post a Comment