NIFTY TIPS

Have you read the previous research report of Nifty 50?
Click Here – IS NIFTY ABOUT TO RESUME BEARISH THE MOVEMENT?

BEFORE

Nifty was in the indecisive movement where the price has formed a triangle on the daily timeframe chart. It was at the control line of the parallel channel.

I had mentioned in bold words, “If the price sustains below 17000, traders can expect good selling up to 16900 – 16821 – 16769.”

AFTER

Nifty had broken down the support level of 17000 and started falling for our targets.

4th May 2022:

• • 12:10 AM – Nifty reached the first target of 16900.
  • 02:05 PM – Nifty touched the second target of 16821.
  • 02:10 PM – Nifty hit the final target of 16769.

If you have bought Nifty 5th MAY 17500 PE @99, you can exit your position at @321.

Nifty 5th MAY 16700 PE @22 has made a high of @127.

If you haven’t traded this call, You have missed 400 points in two trading sessions.

BEFORE

Bajaj Finserv has completed its X wave, and it was ready for the final wave. Wave X is the intermediate wave that connects the two corrective structures (Y) & (Z).

I had written in clear words, “Bajaj Finserv has started it’s final bearish, where we have seen a speculative boom downside. After breaking 50 & 200 EMA, it started falling for wave Z. Traders can expect the following targets: 14631 – 14449 – 14176.”

Do you remember Bajaj Finserv’s wave projection?

Click here  – NSE Bajaj Finserv: Elliott Wave Analysis & Tips

AFTER

After the breakout of the control line, the prices started falling.

4 May 2022

• 11:45 AM – Bajaj Finserv hit the first target of 14631.
• 2:05 PM – Bajaj Finserv touched the second target of 14449.

5 May 2022

• 2:10 PM – Bajaj Finserv reached the final target of 14176.

If you have traded this setup, you could get a profit of more than 700 points. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

Bajaj Finserv has started it’s final bearish, where we have seen a speculative boom downside. After breaking 50 & 200 EMA, it started falling for wave Z. Traders can expect the following targets: 14631 – 14449 – 14176.

Bajaj Finserv has formed in the descending channel for more than 27 weeks. It has also broken the control line’s channel. That indicates bulls are not ready to expect a falling knife.

Measurement of wave ((4)):
1. Wave ((4)) can accomplish 38.2% of wave ((3)) at 14000.
2. Wave ((4)) can complete at the lower band of the parallel channel because the price has created a throw-out action.
3. Sometimes, prices do not break the low of wave ((Y)) due to less momentum and supply deficiency. And it causes orthodox bottoms.

The ending point of the corrective structure is the starting point of an impulsive phase. After the completion of wave (z) of wave (4), the price will march for motive wave (5). If the price sustains above wave (X) at 17480, Bajaj Finserv will move on for an all-time high.

I will upload further information soon.

Weekly TImeframe:

Nifty has created a lower high at 18114 on the weekly timeframe chart. Price has taken the support on the pivot range of 16800.
Currently, Nifty has formed a long-legged Doji on the pivot range, which signals indecision phrases of the market.
If the price fails to hold 16822, we may see a sharp downfall.
Doji is a reversal signal reversal, but it needs to be confirmed.

Daily Timeframe

It has broken down the 50 & 100 EMA. If it gives a consecutively closing candle below the 50 EMA, then nifty can retest the 200 EMA or 17000.
Price has faced strong resistance at 17400. Nifty Looks weak, and it will gap down.

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