Elliott Forecast - Nifty Pullback Should Continue to Find Buyers | ResearchPool

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Elliott Forecast

Daud Bhatti

Nifty Pullback Should Continue to Find Buyers

April 3, 2024 By

Short Term view in Nifty suggests rally from 1.24.2024 low is in progress as a diagonal. Up from 1.24.2024 low, wave (i) ended at 22297.5 and pullback in wave (ii) ended at 21860.55. The Index then rallied higher in wave (iii) towards 22463.65 and dips in wave (iv) ended at 2224.35. Final leg wave (v) ended at 22526.6 which completed wave ((i)). Pullback in wave ((ii)) unfolded as a . Down from wave ((i)), wave (w) ended at 21905.65 and wave (x) ended at 22204.6. Wave (y) lower ended at 21710.54 which completed wave ((ii)) in higher degree.

The Index has turned higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 22080.95 and pullback in wave (ii) ended at 21883.3. Rally in wave (iii) ended at 22529.95 and pullback in wave (iv) ended at 22388.15. Expect the Index to extend higher in wave (v) to complete wave ((iii)). Afterwards, it should pullback in wave ((iv)) before turning higher again in wave ((v)). Near term, as far as pivot at 21710.54 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Nifty 45 Minutes Elliott Wave Chart

NIFTY Elliott Wave Video

Source:-forecast.com/news/nifty-pullback-continue-find-buyers/

03/04/2024 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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Analysts

Daud Bhatti

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