Free Stock market / Nifty intraday tips

NIFTY50 analysis with Elliott wave theory

Corrective Wave 2 is slightly higher than 50%.
The key learning here is Wave 3 important retracement levels as 261.8% at 12050 nearby and 11516 at 227.2%.

Impulsive Wave 3 is extended. When Wave3 is equal to 161.8% or more than it, it’s called as extended wave 3. In this case, you can see Wave 3 is extended. This is really important, because its decide wave 5. Wave 3 between the 261% to 227.2% ended.

Generally, Wave 4 traveled 38.2% to 50% in most of the case. More likely, expected fall or Wave 4 can be in rage of 11530-10070 before starting 2021.

Breaking down parallel channel will clear sign of corrective wave4.

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4 Comments

  1. I hade sold nifty at your given point now I am in a holding position and getting profit of 41thousand thanks for sharing a great analysis. i got much profit before also from your analysis thanks.

  2. Ratio well taken.
    what are the options to for the target of wave 5 on the completion of wave 4.
    Pl share on my email also.I have more to discuss .

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