Possible Elliot Wave Count - Nifty

NSE:NIFTY   Nifty 50 Index
Nifty has broken and closed below 10,400 to confirm that a short term top is in place. Let us analyse the fall to understand better on how things could pan out in the coming days to complete the correction. There could be multiple ways in which the correction could unfold but let us look at two possible outcomes.

1) In the first scenario Nifty is currently trading in wave 3 of A and is taking the form of 5-3-5-3-5 which could extend to around 10,250-220 region before giving a meaningful bounce in the form of wave B. I have used red lines to depict the possible path which Nifty could take in the coming days. The black box marked in the chart is an area where I assume an ir-regular abc caused the market to open higher today before falling sharply.

2) In the second scenario Nifty is trading in wave c of A and is taking the form of 3-3-5 which could extend to around 10,300-250 before bouncing in the form of wave b. I have used blue lines to chart the path which could take under this scenario.

Either way we could get lower levels in Nifty to complete the wave 2 correction.

Good Luck !!!!
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden