Nifty appears to be correcting in an ABC pattern (bigger pink wave). It has completed the A wave and is currently going up in the B wave. B wave is expected to first first take Nifty down to around 10500 and then up to around 10730 (or at the most 10850) where wave C is expected start. Wave C could take Nifty down to 10220 though this level would also depend on the level of correction in wave B. Stay tuned!
Note: It is just for my own reference and is not a trading advice.
Note: It is just for my own reference and is not a trading advice.
Nota
NIFTY is moving in an ABC wave as expected. The B wave seems to be in progress currently and is likely to be completed around 10850 as expected. The C wave is likely to start from that level which is expected to take NIFTY down to 10350 if this wave count is correct. Note a change in the C level target due to a greater retracement in wave B.Nota
Note that is is possible that the ABC correction is already complete as shown below and NIFTY is moving up in new five waves, but I don't like this wave count due to two reasons:- The smaller c wave is only 76% of the smaller a wave
- Big wave C is only 38% of the big wave A
What do you think?
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.