#Nifty50 -Three perspective, same chart - EW/Key lvls./pitchfork

30 мар. 2021 г.

Good evening,

Finally, I am back with NSE charts. I literally took a break for a couple of weeks from NSE because I was loosing a grip from it. I thought to come back stronger and here I have come up with Nifty50 chart. Let's see the analysis.


Nifty50 Analysis

I have analyzed the chart in three perspectives and tried to put it over here. Let's see below.

~~~~ Elliot waves ~~~~

Let's start with Elliot wave perspective. Currently, it seems like the corrective WXY complex pattern from the top 15431.75 has ended at low 14264.40. The above chart is in Elliot wave perspective. Seems like Nifty will not fall below 14264.40 and it has already started new impulsive wave.



~~~~ Key levels ~~~~

In this chart I have marked important levels and can be used for day trading. Keep this levels on your mind since these are too important and trading between them will give higher accuracy.





~~~~ Pitchfork ~~~~

I don't use pitchfork much, but for current analysis, I found that it is fitting beautifully, here you can see the confluence with price action.



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How to trade?

Trade between the levels and with confluence with pitchfork. The lines of pitchfork will act as resistance and support. Most probably it will make ATH, so stick to bull side and always trade between the levels as mentioned before.
Rest, I know my viewers are smart enough to trade from here.


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~~~~ Putting all three into one ~~~~

I kept earlier everything separate for newbies so that they understand too. Here is the overall look.




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I hope you all like my ideas, if you do, please give a like and comment. Keep me motivated so that I can keep posting such ideas more.


Thank you.