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Elliott Forecast

Elliott Wave View: Nifty can see sellers soon

October 26, 2022 By

Short term Elliott Wave view on Nifty suggests the decline from 9.15.2022 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from 9.15.2022 high, wave 1 ended at 17429.7 and rally in wave 2 ended at 17919.30. Index then resumes lower in wave 3 towards 16820.40, rally in wave 4 ended at 17026.05, and final leg lower wave 5 ended at 16747.70 which completed wave (1).

Wave (2) corrective rally is now in progress as a . Up from wave (1), wave A ended at 17428.8 and pullback in wave B ended at 16950.30. Wave C higher is currently in progress as a 5 waves. Up from wave B, wave ((i)) ended at 17142.35 and pullback in wave ((ii)) ended at 16956.95. Index then resumed higher in wave ((iii)) towards 17811.50. Expect a pullback in wave ((iv)) before another leg higher in wave ((v)) to end wave C of (2). Wave (2) should end somewhere at 17646 – 18075 area then the Index should resume lower in wave (3) or pullback in 3 waves at least. This view is valid as long as it does not break above previous high on 9.16.2022 at 18096.15.

Nifty 60 Minutes Elliott Wave Chart

Nifty Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-nifty-can-see-sellers-soon/

#elliottwave #trading #nifty

26/10/2022 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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