As discussed in the last post, NIFTY's price has crossed over 23026.85 before 21st March so we can count the current move as wave (3). We can also see that price has broken the base channel, which is an important sign of wave (3) progression.
The detailed counting is given in the chart.
As we can see, the price is in subordinate wave 3 of the bigger wave (3).
The minimum target of Trending Impulse is 161.8% as per the rule.
We can expect the price to touch that level in the upcoming session.
I have marked, for now, a bigger wave (3) (in red) at 161.8% but as mentioned earlier, it is just the minimum target of it and the price may go beyond this level too.
This analysis is based on Elliott Wave theory and Fibonacci.
This is not any buying recommendation.
This analysis is for educational purposes only.
The detailed counting is given in the chart.
As we can see, the price is in subordinate wave 3 of the bigger wave (3).
The minimum target of Trending Impulse is 161.8% as per the rule.
We can expect the price to touch that level in the upcoming session.
I have marked, for now, a bigger wave (3) (in red) at 161.8% but as mentioned earlier, it is just the minimum target of it and the price may go beyond this level too.
This analysis is based on Elliott Wave theory and Fibonacci.
This is not any buying recommendation.
This analysis is for educational purposes only.
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.
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.