Nifty Outlook: Will the seller crash the remaining bull?
Telah dikemas kini
Nifty is occurring a corrective wave ((iv)) on the hourly timeframe chart.
It has broken the previous corrective (iv) of a lower degree and price fall to 17377.
The bullish scenario is valid till the price is above 17150.
According to the Elliott wave principle, wave ((iv)) can never enter the price territory of wave ((i)).
Wave ((iv)) has retraced 78.6%, and it can't retrace more than 78.6% if there is a bull power on the other hand.
If the nifty breaks 78.6% at 17156, it will also break the invalidation level point of 17150.
Nifty is creating a downtrend channel, where bull power has controlled by sellers.
If the price breaks out of the channel downtrend, we can see a sharp upward move soon.
However, nifty has to confirm its bull run by breaking the breaking supply zones.
Previous Idea:
Other ideas:
Use the play button to see the results.
It has broken the previous corrective (iv) of a lower degree and price fall to 17377.
The bullish scenario is valid till the price is above 17150.
According to the Elliott wave principle, wave ((iv)) can never enter the price territory of wave ((i)).
Wave ((iv)) has retraced 78.6%, and it can't retrace more than 78.6% if there is a bull power on the other hand.
If the nifty breaks 78.6% at 17156, it will also break the invalidation level point of 17150.
Nifty is creating a downtrend channel, where bull power has controlled by sellers.
If the price breaks out of the channel downtrend, we can see a sharp upward move soon.
However, nifty has to confirm its bull run by breaking the breaking supply zones.
Previous Idea:
Other ideas:
Use the play button to see the results.
Nota
No bullish scenario without breakout of the parallel channel.Dagangan ditutup secara manual
Invalidation:Nifty didn't reverse from invalidation point.
We didn't get entry because price couldn't break up the parallel channel.
Trade Close manually
Nota
Nota
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.