Nifty Yet to Finish Correction?
Marked are waves from Covid low towards top as 5 wave impulse structure.
Price from Covid low crossed 0.236 by good margin so next is 0.382 Fibonacci near 14300
While making low of 15183 price got thrown below channel the balance has set when price made high 17992 and was thrown above channel.
Wave II of larger degree is currently in progress from 18605 and it is mostly likely is unfolding as more complex correction.
If its really is wave 2 then it usually retrace towards previous wave 4 which is near 14300!! The more non-violent case can be small low near 15183 may be 15000 :)
Nifty failed to break swing 18115 and dropped sharp from 17992 in straight line and pulled back slowly upto 17726 refer 1 hr chart for dominant trend.
Confirmation 1: Break below 17345 Swing
Confirmation 2: Fall crosses 1.618 Fibonacci
If crosses 1.618 levels in above chart then it can be considered larger fall in progress
Caution: Everyone has different perspective to look at markets, Just like all five fingers of hand can't be of same length so is the view of market participant. Only give it educational angle to this analysis never take financial decision someone else analysis do your own
Only doubts will be answered any needless/baseless comments will not be entertained.
DISCLAIMER:
There is no guarantee of profits or no exceptions from losses.
The stock and its levels discussed are solely the personal views of my research.
You are advised to rely on your judgement while investing/Trading decisions.
Seek help of your financial advisor before investing/trading.
Investment Warnings:
We would like to draw your attention to the following important investment warnings.
-Investment is subject to market risks.
-The value of shares and investments and the income derived from them can go down as well as up.
-Investors may not get back the amount they invested - losing one's shirt is a real risk.
-Past performance is not a guide to future performance.
-I may or may not trade this analysis
--------------------------(((((LIKE)))))-------------------------------
Price from Covid low crossed 0.236 by good margin so next is 0.382 Fibonacci near 14300
While making low of 15183 price got thrown below channel the balance has set when price made high 17992 and was thrown above channel.
Wave II of larger degree is currently in progress from 18605 and it is mostly likely is unfolding as more complex correction.
If its really is wave 2 then it usually retrace towards previous wave 4 which is near 14300!! The more non-violent case can be small low near 15183 may be 15000 :)
Nifty failed to break swing 18115 and dropped sharp from 17992 in straight line and pulled back slowly upto 17726 refer 1 hr chart for dominant trend.
Confirmation 1: Break below 17345 Swing
Confirmation 2: Fall crosses 1.618 Fibonacci
If crosses 1.618 levels in above chart then it can be considered larger fall in progress
Caution: Everyone has different perspective to look at markets, Just like all five fingers of hand can't be of same length so is the view of market participant. Only give it educational angle to this analysis never take financial decision someone else analysis do your own
Only doubts will be answered any needless/baseless comments will not be entertained.
DISCLAIMER:
There is no guarantee of profits or no exceptions from losses.
The stock and its levels discussed are solely the personal views of my research.
You are advised to rely on your judgement while investing/Trading decisions.
Seek help of your financial advisor before investing/trading.
Investment Warnings:
We would like to draw your attention to the following important investment warnings.
-Investment is subject to market risks.
-The value of shares and investments and the income derived from them can go down as well as up.
-Investors may not get back the amount they invested - losing one's shirt is a real risk.
-Past performance is not a guide to future performance.
-I may or may not trade this analysis
--------------------------(((((LIKE)))))-------------------------------
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