CMP: 720.8
TF: 75 Minutes
As you can see and observe, the price has been in corrective mode from the highs at 894.9 since Dec 2024 and the correction has lasted for almost a year now
The correction looks complex (and I am marking it as WXY for now)
The price is now at the final stages of the Y leg (and the counts are marked in the chart for better understanding)
The has completed A and B legs of the Y wave and the final C is playing out.
In the final C leg down, price has completed 1,2,3 waves and 4th corrective rise is playing out.
We could most likely make one more low and/or equal/truncated low at around 660-680 levels in the coming days
ALT View:
The invalidation level for this 4th wave is 740 (if we break above, then we can assume that the correction is complete and the price is heading higher.
Here is the weekly chart with counts in larger degree.
In the monthly chart below, the price is closer to the demand zone marked herein. This demand zone holds as a strong support as long as the 650 zone is protected
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
TF: 75 Minutes
As you can see and observe, the price has been in corrective mode from the highs at 894.9 since Dec 2024 and the correction has lasted for almost a year now
The correction looks complex (and I am marking it as WXY for now)
The price is now at the final stages of the Y leg (and the counts are marked in the chart for better understanding)
The has completed A and B legs of the Y wave and the final C is playing out.
In the final C leg down, price has completed 1,2,3 waves and 4th corrective rise is playing out.
We could most likely make one more low and/or equal/truncated low at around 660-680 levels in the coming days
ALT View:
The invalidation level for this 4th wave is 740 (if we break above, then we can assume that the correction is complete and the price is heading higher.
Here is the weekly chart with counts in larger degree.
In the monthly chart below, the price is closer to the demand zone marked herein. This demand zone holds as a strong support as long as the 650 zone is protected
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.