Elliot Wave in weekly Chart
The Bull Trend Remain in Nifty Weekly Chart based on Elliot wave principle.
Bull Trend of the intermediate cycle.
4675 to 5400 - 1st Impulse Wave
5400 to 4786– 2nd Corrective Wave
4786 to 6339- 3rd Impulse Wave
6339 to 5690- 4th Corrective Wave
5690 to ??????- 5th Impulse Wave
5th Wave will End @ 6500
The market seems trading in the 1-2-3-4-5 structure and presently is at the “2” & "4" waves are correction
Nifty is expected to Reach 6500(5th wave) with immediate support at 5800 (Trend line Support) and break below the same may push rates lower towards the support pegged at 5700 & 5500
Recommendation of this Dec Expiry
Buy Dec futures @ 5980 to 6025 Stop @5875 Tgt 6180 & 6230 & 6330
The Bull Trend Remain in Nifty Weekly Chart based on Elliot wave principle.
Bull Trend of the intermediate cycle.
4675 to 5400 - 1st Impulse Wave
5400 to 4786– 2nd Corrective Wave
4786 to 6339- 3rd Impulse Wave
6339 to 5690- 4th Corrective Wave
5690 to ??????- 5th Impulse Wave
5th Wave will End @ 6500
The market seems trading in the 1-2-3-4-5 structure and presently is at the “2” & "4" waves are correction
Nifty is expected to Reach 6500(5th wave) with immediate support at 5800 (Trend line Support) and break below the same may push rates lower towards the support pegged at 5700 & 5500
Recommendation of this Dec Expiry
Buy Dec futures @ 5980 to 6025 Stop @5875 Tgt 6180 & 6230 & 6330
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