Timeframe: Daily
The NSE TITAN has initiated an impulsive cycle following a low point of 720.9. It has completed its impulsive wave (4) and is currently forming sub-waves within wave (5). Specifically, sub-wave 3 of wave (5) has been observed at 3886. Now, the wave (c) of wave 3 of wave (5) is undergoing a corrective decline. Notably, the price has broken through the 20/50/100/200 Exponential Moving Averages.
On the daily chart, the ADX has surged to 21.67. Focusing on the sub-waves of wave (5), it’s suggested that the orthodox ending of wave 4 might be near the previous wave (iv) around 3088. The retracement of wave 4 has reached the common Fibonacci level of 0.382. However, if no significant recovery is seen after the completion of wave 4, a more bearish trend could ensue, potentially down to wave (ii) at 2321. This scenario could materialize following the formation of sub-waves within wave (5).
Further updates will be provided for premium subscribers shortly.
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.
Great chart! Thanks for sharing.
How to subscribe for your premium subscription? I want to know more about your service.
Nifty and finnifty analysis pls