Elliott Wave Theory

[WaveSurfer]

Nifty Daily Spot

Labelling in white denotes Higher degree waves .
Yellow labels depict the sub-divisions.
Magenta depicts time taken in a wave.

Wave a of 1 took 13 days. Fib
Wave a of 3 took 13 days. Fib
Wave 2 of C took 13 days. Fib
Wave 4 of C completed 13 days. Now chances are that it's complete or may go up for one more trading day.

Time-wise wave 2 and wave 4 are equal now. Price-wise i see strong resistance at 7660.

Wave b of 1 and wave b of 3 ended in lucas numbers , 7 & 11 .

If Nifty has topped out , it will probably make wave a of 5 in 13 days. AS can be seen on the chart that the prior wave a's continued for 13 days , so it's highly likely that the coming wave a will also take that time.

On the oscillators , i have marked reverse divergence where they made a new high but price did not and the downtrend continued. Right now , i guess a reverse divergence is underway from wave 2 high to current wave 4 in progress.

Not much to add on what i have been saying for quite some days now.

 

[praveen taneja]

Market running opposite of Wave!!!!!!

:rofl::rofl::rofl::rofl: Jai Ho aapke alwa sab TA FA fail please what is going to happen tomm taaki main opposite trade loon my indication is ur id not u bro:rofl:

 

[naughtynifty50]

Nifty Daily Spot

Labelling in white denotes Higher degree waves .
Yellow labels depict the sub-divisions.
Magenta depicts time taken in a wave.

Wave a of 1 took 13 days. Fib
Wave a of 3 took 13 days. Fib
Wave 2 of C took 13 days. Fib
Wave 4 of C completed 13 days. Now chances are that it's complete or may go up for one more trading day.

Time-wise wave 2 and wave 4 are equal now. Price-wise i see strong resistance at 7660.

Wave b of 1 and wave b of 3 ended in lucas numbers , 7 & 11 .

If Nifty has topped out , it will probably make wave a of 5 in 13 days. AS can be seen on the chart that the prior wave a's continued for 13 days , so it's highly likely that the coming wave a will also take that time.

On the oscillators , i have marked reverse divergence where they made a new high but price did not and the downtrend continued. Right now , i guess a reverse divergence is underway from wave 2 high to current wave 4 in progress.

Not much to add on what i have been saying for quite some days now.

Sir ji, beautiful chart but no butterfly this time.
And, imo you will give a recount, if Nifty crosses above point 2.

 

[prabhsingh]

I would tend to agree on above Nifty daily chart wave count and would also like to emphasize on existing candles and also how they behave in coming weeks.Have a look at attach chart.

 

[WaveSurfer]

Sir ji, beautiful chart but no butterfly this time.
And, imo you will give a recount, if Nifty crosses above point 2.

IF & WHEN count gets invalid, i will give a recount provided i can figure it out. :clapping:

 

[WaveSurfer]

Market running opposite of Wave!!!!!!

Market always runs in Wave. Identifying the wave is the real deal.

 

[WaveSurfer]

I would tend to agree on above Nifty daily chart wave count and would also like to emphasize on existing candles and also how they behave in coming weeks.Have a look at attach chart.

In a bull market , RSI finds support at 40-50 and in a bear market it finds resistance at 50-60. Your chart RSI currently reads 49.88 :thumb:

 

[ksesha]

IF & WHEN count gets invalid, i will give a recount provided i can figure it out. :clapping:

Will it be like 7720 --> 7230 --> 7970 ?

 

[WaveSurfer]

Nifty Daily spot

The market is resilient to decline :annoyed:

 

[praveen taneja]

DII and small trader dont have courage and fII are long so not going down