NIFTY 50 | Elliott Wave Outlook (15M)
NIFTY appears to be unfolding a bullish Elliott Wave impulse structure after completing a corrective Wave (C) near major trendline support. The current price action suggests Waves 1 and 2 are complete, with Wave 3 potentially extending toward the upper channel resistance around 24,200.
A healthy Wave 4 pullback could retest the breakout zone near 23,800 before the final Wave 5 advance targets the 24,450–24,500 region. Price is also approaching a key descending channel resistance, making the next breakout attempt crucial for confirming further upside.
Key Levels
🔹 Wave 3 Target: 24,200
🔹 Wave 4 Support: 23,800
🔹 Wave 5 Target: 24,450–24,500
🔹 Invalidation: Sustained move below Wave 2 low
This is a probabilistic Elliott Wave roadmap and will require confirmation from price action and volume as the structure develops.
#NIFTY50 #ElliottWave #TradingView #NiftyAnalysis #TechnicalAnalysis #WaveTheory #PriceAction #IndianMarkets #SwingTrading #MarketStructure
NIFTY appears to be unfolding a bullish Elliott Wave impulse structure after completing a corrective Wave (C) near major trendline support. The current price action suggests Waves 1 and 2 are complete, with Wave 3 potentially extending toward the upper channel resistance around 24,200.
A healthy Wave 4 pullback could retest the breakout zone near 23,800 before the final Wave 5 advance targets the 24,450–24,500 region. Price is also approaching a key descending channel resistance, making the next breakout attempt crucial for confirming further upside.
Key Levels
🔹 Wave 3 Target: 24,200
🔹 Wave 4 Support: 23,800
🔹 Wave 5 Target: 24,450–24,500
🔹 Invalidation: Sustained move below Wave 2 low
This is a probabilistic Elliott Wave roadmap and will require confirmation from price action and volume as the structure develops.
#NIFTY50 #ElliottWave #TradingView #NiftyAnalysis #TechnicalAnalysis #WaveTheory #PriceAction #IndianMarkets #SwingTrading #MarketStructure
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.