NIFTY 50 4H Elliott Wave Analysis
Nifty's Minuette Wave (iii) & (iv) has been finished and price is in a move for wave (v) which is set to finish in range of 22326- 23231. A finish within the lower range till 22,881 will be a running Flat Structure and beyond this limit till 22326 will be an Expanded Flat Structure.
Bias
NeutralCurrent wave
Wave B Minor degreeCondition
Ranging Near CompleteConfidence
High Count activeInvalidation
22326 Count is wrong beyondWave Thesis
Tracking the Minor Wave C in upward direction for Nifty Index. The Large Structure is developing as a Triangle pattern. The first 3 Legs has been completed and 4th leg of Triangle is developing. In Near Future price action is expected to be sideways in a range. Its Internal Structure is developing as a Running / Expanded Flat, and Minute wave ((a)) & ((b)) has been Completed.
Elliott Wave analysis is a technical analysis method that identifies repeating price patterns, or "waves," shaped by shifts in investor psychology. It's used to forecast probable future price direction based on the market's current wave structure.
No. Elliott Wave analysis identifies the most probable wave count and price scenario based on current market structure, but markets can and do invalidate a count. It should be used alongside proper risk management, not as a standalone guarantee.
An impulse wave is a five-wave structure that moves in the direction of the larger trend, while a corrective wave is a counter-trend structure (commonly three waves) that retraces part of the prior move.
As of this analysis, NIFTY 50 is trading in Wave B, of Minor degree, on the 4h timeframe.
Based on the current Elliott Wave structure, our analysis shows a Neutral bias for NIFTY 50.
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Sign In to CommentThis analysis is for information and education only and is not financial advice. Trading leveraged products such as forex, futures and CFDs carries a high risk of loss and may not be suitable for all investors. Past performance is not a guide to future results.
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