Reshmi Chauhan

Updated:(2) Wave-Projection on NIFTY for “Swing Traders”…!

In the last update TRADE-SETUP was:
Buy 8865 and succesfully price traveled to target at 9834
Profit as per moved 1146 points.

9584 Above, the target is valid 9990.

Short selling Zone broad 9990-10272
The parallel channel connected 2W and 4W with projected to 8731: Resistance detected 10135 nearby

Paid Attention to rhythm of the wave, AUROPHARMA….!!!!

Elliott’s wave theory

The wave A and B in both sets parallel channel and Wave C will be set of mnext 5th Wave.

Elliott’s cycle of the 5th Wave is under-construction. 3rd wave was extensive in price and after it, Two Sets of AB and C with slanting parallel channel.

-> Bottom Out: You have figured out that Wave 4 would normally retrace 0.618% of Wave 3.

Wave Personality : I won’t expect 5th too much extensive than 3rd wave that why A, B, and C cycle fall projected in the chart.

Footmark of HINDUNILVR with (Speculative, Waves, Channel etc)…

  • Buying in pull-back 2001 nearby.
  • Put the alert in your trade-terminal.
  • Expected more than 200 points move in next.


————————WEEKLY CHART——————————–

Last week has reversal pin-bar and next week expected move 222 point
from 7-Days AT from the closing.
The price follows to lower bound & upper bound of Parallel Channel.

————————DAILY CHART——————————–

Start looking from left to right, Impulsive & Corrective Waves.
Impulse legs in 1 to 5 and Correct legs has A,B and C waves. Presently, we are going up wave.

Beauty of Fib. Retracement on NIFTY

This pullback can push price 9066 up to easily.
At a,b and c of 50% retrecement zone from where price started to move downward.

Value area with 3 control lines has plotted of parallel channel.

  • The control C1 and C2 is stronger than C3.
  • Value area is predicted by price and control price. There is more chance to continue to fall.

Nifty is follwing weekly channel since long 2005 year

Target achieved Fib Retracement:

Dealing with 4-chart “extensively research” at Reliance price…

  Volume vs. Price Action:

Points to be focus on:

  • Gap (run away type)
  • Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle)
  • sequence of tails (sign of existence negativeness)
  • Interruption began to push price upward.

Red Alert : sellers will take action on the Red Alert zone 1542 to 1490, and price will T1 as target.

Fibonacci Retracement:

Confluence zone 1353 to 1329 target
next target 1250 nearby if sellers will continue.

Wave analysis theory (unconfirmed):

Parallel Channel and Project:

T1 -1375 to 1380