Trade Setup – NSE NIFTY, TECHM & BIRLACORPN
NSE NIFTY Update For Subscribers
Yesterday, We published Elliott Wave analysis on NIFTY 50.
Visit here: NSE NIFTY – Elliott Wave Projection
Continue readingNSE COALINDIA – Price Action Analysis
Mega Bull Victory – NSE BAJAJHLDNG Hits New Peak
Did you trade NSE BAJAJHLDNG wave setup?
Click here: NSE BAJAJHLDNG – Elliott Waves Trend Forecast
BEFORE
I have mentioned clearly, “According to Elliott waves, if the price sustains above the previous wave (4), traders can trade for the following targets: 6120 – 6229 – 6324+.”
AFTER
NSE NIFTY – Elliott Wave Projection
Timeframe: Hourly
The Nifty is stuck between supply and demand. Bulls will not break 17300, and bearish won’t break 17600. The complexity of the move has confused retailers too. Per the hourly timeframe chart, the price has accomplished a short-term impulsive cycle and started forming a corrective process before a steep fall. Wave A of this corrective cycle has been completed at 17467, and Wave B is currently in formation. Price retraced 61.8% retracement.
Upon completing wave B, and sustaining above 17300, the price can move up to the next resistance level of 17600. This level indicates strong resistance, and failure of sustention will increase supply rapidly and may form a new low too. The Nifty is moving near the 200 EMA on the daily timeframe chart, and the ATR is 182.7.
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