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NSE MSUMI – Elliott Wave Projection

Free nse msumi chart calls

Free nse msumi chart calls

Timeframe: Daily
The NSE MSUMI has been experiencing a corrective phase for over 27 weeks, with a notable low of 45.15 before commencing a new impulsive cycle. The current trading range of NSE MSUMI is between the 50 and 20 Daily exponential moving averages.

Presently, the price has completed the extension of impulsive wave 3 at 51.5 and has entered a corrective wave 4, which is taking the form of a triangle pattern. The retracement of wave 4 has hit the common 38.2% level.

If the price surpasses wave D, Traders can initiate trades for targets of 51.50 – 52.61 – 54.12+ . However, buyers must keep a close watch on 49.5 as a break below it may result in a bearish sentiment, leading to 47.05.

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  1. 👏👏👏 Great analysis and insights! Your explanation of the hourly chart setup for Msumi is very clear and easy to understand.

  2. Sir
    Elliott’s wave count on stocks from time to well appreciated. I have a query about the time frame. You usually make a study in 2 hr. time frame. Is any significant about this 2 hr.
    Many people do it in 15 minutes.

    I just want to know the ideal time frame for the wave count.

    Is it possible to give an analysis on candlesticks also side by side?

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