Timeframe: Daily
The impulsive structure began at the low of 5220. It was a classic impulse pattern with five wave moves. Currently, Price has started unfolding impulse wave 5.
Wave Formations:
- Wave 1 – Impulse
- Wave 2 – zigzag
- Wave 3 – Extended Impulse
- Wave 4 – Running flat
- Wave 5 – In progress
The Fibonacci Relationship:
- Wave 2 – 78.6% of wave 1
- Wave 4 – 38.1% of wave 3
- *Wave 5 – not more than 161.8% of 4th wave, reverse Fibonacci retracement at 8000.
If NSE BAJFINANCE sustains above 7100, traders can buy for the following targets: 7524 – 7756 – 7921. Although prices are moving forward, we should not take a blind entry.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.
thanks for the important information…
This setup is acceptable to me. Please keep it coming!
Remarkable work!!! Immediately followed.
Sir, you are a genius. I want more analyses like this
101% agree 👍
Well done mate! The area that you have pointed out looks very strong.