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Nifty MidCap Select Index
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Nifty Mid_Select Index

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Hello & welcome to this analysis

From July 2022 to Sep 2024 it appears to have completed an impulse 5 waves up structure forming a Primary Wave 1
From Sep 2024 to Apr 2025 is a corrective ABC wave that has done a 38 Fibonacci retracement.
While it is too early to suggest whether that zigzag fall was a Primary Wave 2 or Wave A of B. The unfolding in the daily time frame suggest the probability of the former and start of a Primary Wave 3.
A weekly close above 13250 would increase the conviction of an impulse wave for probable levels where it could make swing highs along its path at approx 14300, 15000, 18000 & 20000.
Keep in mind where I have plotted Intermediate Wave 3 could also be an expanded Wave B. Therefore, keep an alternate count in hand till it gives more and more confirmation for bullishness.
I am going with the probability of this being a bullish structure as of now

All the best
Dinesh_C_Nagpal
Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
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bluechips4ubluechips4uharmonicselliotwaveanalysisichimokubluechips4uimpulsewaveTechnical IndicatorsmidcapstocksTrend Analysiswave3forecastWave Analysis

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bluechips4ubluechips4uharmonicselliotwaveanalysisichimokubluechips4uimpulsewaveTechnical IndicatorsmidcapstocksTrend Analysiswave3forecastWave Analysis
Dinesh_C_Nagpal
Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
t.co/3mGWp29Xkb
Juga pada:

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.