Free Stock market / Nifty intraday tips, FREE Stock, Commodity & Forex tips

NIFTY FUT – Elliott Wave Projection

5 44491
Free nse nifty chart calls

Is NSE NIFTY Poised for a Bullish Breakout?

Free nse nifty chart calls

Timeframe: 2H

The NSE NIFTY has completed a corrective wave (2), with this wave retracing 100% of wave (1) at 17015. The 3rd wave was a power-extended wave with a 2.618% retracement at 17905. Currently, the price has broken down to the 20 EMA and is moving towards the 50 EMA, while the ATR of the price is 71, and an increase in indicators suggests a steep fall for wave (4).

At present, the price is forming a corrective wave (4), with the common retracement of this wave being 38.2% at 17525. Furthermore, 17560 is a strong support level for the price and may work as a reversal point. Generally, the steeper the formation, the more likely it is to reverse.

Safe traders can only enter after the breakout of wave (3). There is a potential for the price to reach wave (5) up to 1.618% of reverse Fibonacci at 18100, and a 61.8% Fibonacci retracement of wave 1 at 18200, and 18300 based on current market conditions.

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.
Previous ArticleNext Article
Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

Join Today (Free): Stock & Nifty Tips

5 Comments

  3. I must say, your accuracy in predicting NIFTY movements and analyzing price action using Fibonacci is truly exceptional. Keep up the excellent work!

    Reply ↩

Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *