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Will NIFTY Skyrocket or Collapse?

Free nse index nifty chart calls

Free nse index nifty chart calls

In this outlook, we are covering two scenarios that will be helpful for day traders as well as investors. We should negate the possibilities because Murphy’s law says,

Whatever can happen will happen

Shall we direct jump on the pool? Yes, shallow ends first.

After creating a high of 18600, the price has occurred a double zigzag. Currently, we are riding on the impulsive wave sub-wave 4 of wave C of complex (Y).

Wave Structure:
Wave ((W)) – 16410
+ Internal structure – Triple Zigzag
+ Fibonacci relationship – 50% of wave ((5))
Wave ((X)) – 18350
+ Internal structure – Engaged corrective wave
+ Fibonacci relationship – 100% of wave ((W))
Wave ((Y)) – New low at 16203
+ Internal structure –  Zigzag correction
+ Fibonacci relationship – 100% of wave ((w)) at 16156.

Target projection for scenario 1:

  • Wave (C) can end near the 1.618% Fibonacci extension of the wave (A) at 15363.
  • Wave ((Y)) can cease at 100% Fibonacci extension of wave ((W)) at 16136, but if the price breaks this level, then the next Fibonacci level is 15600.

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Free nse nifty chart tips

Perspective:

Price has completed the double zigzag correction by completing wave C of wave (Y).

Wave ((Y)) has already traveled 100% of wave ((W)). Price will start an impulsive cycle, which will be the sub-wave of wave ((5)).

Price has to confirm its bullish move by breaking wave B at 17794.

Bullish sentiments can derive a price for 19000 and more.

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Stock market certified investment advisor(s) for Moneymunch. They're a regular guest on popular online channels and writes for several newspapers and financial journals. Who has studied charts for over 20 years, and they have black magic of the share market.

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7 Comments

  1. Nice analysis!
    How long do you expect it to be in that correction (nifty dropping to 15000?), until the end of the year or longer?!
    Also, do you think value companies will be the same affected or less? until now, they seem to resist better to the fall…
    thx for the answer!

  2. You are the best. I am willing to buy your package, today I will transfer money. I hope that I will get calls from Monday because I don’t want to lose Monday in this news-based atmosphere.

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