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

Nifty Outlook: Will the seller crash the remaining bull?

Free nse nifty chart calls

Free nse nifty chart calls

Nifty is occurring a corrective wave ((iv)) on the hourly timeframe chart.
It has broken the previous corrective (iv) of a lower degree and price fall to 17377.

The bullish scenario is valid till the price is above 17150.
According to the Elliott wave principle, wave ((iv)) can never enter the price territory of wave ((i)).

Wave ((iv)) has retraced 78.6%, and it can’t retrace more than 78.6% if there is a bull power on the other hand. If the nifty breaks 78.6% at 17156, it will also break the invalidation level point of 17150.

Nifty is creating a downtrend channel, where bull power has controlled by sellers.
If the price breaks out of the channel downtrend, we can see a sharp upward move soon.
However, nifty has to confirm its bull run by breaking the breaking supply zones.

No bullish scenario without breakout of the parallel channel.

If the price breaks the downtrend channel, trader can buy for the following targets of 17435-17618-18125

Would you like to get our share market updates instantly?
Click the link to join: Free Stock Tips

Do you want to get premium NSE calls?
Click the link to subscribe: Premium NSE Stock Tips

If you have any questions or concerns about the stock market, don’t hesitate to contact me:

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Previous ArticleNext Article
Mr.Guru is a registered investment advisor for Moneymunch, he is a regular guest on popular channels and writes for several newspapers and financial journals. They've black magic of stock market analysis because studied charts over 20 years.

Click here to get premium stock market tips by Mr.Guru.

Subscribe to get daily FREE Stock markets / nifty tips
Send email to Mr.Guru: [email protected] or you may call him on +91 903 386 2706.

8 Comments

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 Your email address will not be published.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 *

Send this to a friend