Elliott wave Forecast - Elliott Wave View: Bearish Sequence in Nifty Favors Downside

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Elliott wave Forecast

Eric Morera

Elliott Wave View: Bearish Sequence in Nifty Favors Downside

Short Term Elliott Wave View in Nifty shows an incomplete bearish sequence from 9.27.2024 high. Decline from there is unfolding as a zigzag Elliott Wave structure. Down from 9.27.2024 high, wave ((A)) ended at 23263.15 on 11.21.2024 low and wave ((B)) rally ended at 24857.75 on 12.5.2024 high. The extreme target lower for wave ((C)) is 100% – 161.8% Fibonacci extension of wave ((A)). This area comes at 19964 – 21842. Wave ((C)) is currently in progress with subdivision as an impulse Elliott Wave.

Down from wave ((B)), wave (1) ended at 22786.9 and wave (2) rally ended at 23807.3 with internal subdivision as a zigzag. Up from wave (1), wave A ended at 23632.45 and wave B ended at 23222. Wave C higher ended at 23808.27 which completed wave (2) in higher degree. The Index has resumed lower in wave (3). Down from wave (2), wave 1 ended at 22798.35 and wave 2 ended at 23235.5. The Index resumed lower in wave 3. Down from wave 2, wave ((i)) ended at 22725.45 and wave ((ii)) ended at 23049.95. Near term, while below 23808.27, expect rally to fail in 3, 7, or 11 swing for further downside.

NIFTY 45 Minutes Elliott Wave Chart
NIFTY Elliott Wave Chart
Nifty Video
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Source:-forecast.com/news/elliott-wave-view-bearish-sequence-nifty-favors-downside/

26/02/2025 1 EN

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Elliott wave 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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Eric Morera

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Elliott Wave View: Bearish Sequence in Nifty Favors Downside

Elliott Wave Forecast: S&P 500 (SPX) Targets 6639 in Final Wave (5)

MicroStrategy (NASDAQ: MSTR) Elliott Wave Technical Blueprint

Elliott Wave Outlook: GBPJPY Set to Rally to Target 201.2

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