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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.