Elliot Wave(30min TF) for BANKNIFTY & Throw-Over?

On the 5th, I’m expecting Throw-Over for this parallel channeling. By utilizing the 2-wave and 4-wave to determine the wave 5th connected parallel channel but herein, I suppose to break the upper band of the channel causing taking a table of U.S. election by the Biden expecting.

In essence, after the completion of the 5th wave, we are going to correct A, B, C. For the correction, The “Control Price” can attract the price.

=> Why did the price make higher & higher technical reasons?

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Developing Crab Pattern In Nifty

The “B” mid-point is at 61.8% of XA leg.
(Alternate Bat required exact 38.2% B retracement)

For the Crab pattern or Gartley, the “B” can be 61.8% but D must me equal or more than 2 AB = CD.

By the looking on the chart, we have 2 best entry point to enter long side.

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The price moving towards the FIVE Wave in bulls market NIFTY!

FIRST Wave: (Leading Diagonal Contracting)
In the first wave, we have detected the Leading Diagonal contracted within two yellow-colored covering lines but the  leading diagonal occasionally appear in the first wave position of impulse. I have labeled by using roman numbers.

SECOND Wave: (The 50% Retraced)
Its a corrective wave formed A, B, and C. Its retraced 50% from the first wave and the price didn’t carry to a new low.

THIRD Wave: (Impulsive and Extended)
This wave is strong and broad with the Extension moved. The subdivisions of an extended wave are nearly the same amplitude and duration as required.

FOUR-Wave used Technique : (of Channeling to determine Five Wave)
I’ve used here channeling technique for confirmation of four-Wave completed perfectly. In this case, suppose to the fourth wave ends at a point touching the parallel channel.

FIVE Wave: (Price is currently toward this wave)
I have connected the ends of waves two and four to determine the five-wave causing wave one and three is normal.

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Complete Market Cycle Of Elliott Wave Over The NIFTY

This call was given to our subscribers today.

NIFTY50:  Sell 11986, Stop-loss 12027 and Target 11767

Sold at 11986- covered position 11767 = 219 PROFIT

NIFTY move downward, typically rapidly and freely without control, from a higher to a lower level exactly from the given level. Our ALL TARGETS were achieved.

I have described the complete market cycle of Elliott7653 on the weekly chart of nifty as well as two model structural development which are Motive and corrective. Now that I’ve reviewed all types of waves, I can summarize their labels, as showed in the nifty chart.

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Nifty price traveling towards the 5th W. for target 11900 & …

Normally I don’t prefer to trade with a heavy position at 5th wave especially, whenever the 3rd wave is extended. In this case, we’re moving toward forming the 5th Wave.

I have already predicted 5wave of A, B, and C by using future expected retracement.

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Have you enjoyed in NIFTY50 analysis?

In NIFTY50 it was suggested to sell from the peak you can see in the chart and from that point nifty has fall nearly 550 point.

Performance Chart

Have you remember NIFTY50 analysis if not -> CLICK HERE TO SEE

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