
NSE NIFTY – Elliott Wave Projection
Publish date: March 2, 2023
Visit here: NSE NIFTY – Elliott Wave Projection
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Publish date: March 2, 2023
Visit here: NSE NIFTY – Elliott Wave Projection
I have mentioned clearly, “We have published a Nifty research report for premium subscribers. The Nifty was stuck between supply and demand. The bullish limit was 17300, while the bearish limit was 17600. Upon completing wave B, and sustaining above 17300, the price can move up to the next resistance level of 17600. “
Yesterday, We published Elliott Wave analysis on NIFTY 50.
Visit here: 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.
I will update further information for premium subscribers only.