#nifty : Strong corrective rally, now approaching resistance, 12340-12400 levels to watch out now, if break out above 12400 then another 1000 points rally possible, if fail to hold above 12400 then bearish pattern target will be 11567 & 10750. $Nifty #NIFTYFUTURE
NIFTY50 -
Wave 3 completed, initiates wave for, ABC pattern to target 8000, the 50% Fib retracement support of wave 3.
wave 5 to target 18000 in coming 5 to 6 years time frame.
BUY THE DIPS FORM LONG TERM GAINS.
Nifty has taken support three times near 10730-10700.After a rally price has sustained this week above 10730 which shows bulls are still in command. I will be bullish on nifty for this expiry and 10855 is the very crucial level for nifty to go towards 11000.
Amidst geopolitical tensions Nifty 50 ended with a doji indicating supply was drying up. And Nifty landed on a support amidst heavy selloff due to geopolitical tensions like N korea -U.S, India-China border standoff and also 11 Aug 2017 Friday, being the last day of the week.
Technically, Nifty ended with a 4th wave on a support and might resume on upside after...
Here I'm giving my short term view on Nifty 50 using Elliott Wave Analysis.
As you can see the structure is that of a Triple Zig Zag and currently we are in the last leg of this Complex Correction.
I believe there is a high probability that Nifty will give a reversal b/w 8340 to 8370, if not then T3 : 8440 will be on cards.
STRATEGY : Wait for reversal.
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Here I'm presenting long term view of Nifty using Elliott Wave.
I have counted the move from 4650 to 9100 + as 5 Wave Progression of Wave 3 rather then marking it as Wave 3 since it falls short of 1.618 mark, also the given count is much more fitting given the current wave structure.
As per this Main Count the current Wave under progression is Wave v of...
