NIFTY 50 Elliott Wave Analysis on DTF

21 août 2023

Hello Fellow Traders,

This is my elliott wave analysis on Nifty 50 Index.

I am expecting nifty to touch 20500 in this 5th wave.

As per my learnings 4th wave is just completed on 18th Aug 2023;

if there is any room still to correct price can come till 18888 as wave 4 should not come in to range of wave 1 otherwise 5th wave journey is already started

once Price resumes it can reach till 20492.

23 août 2023

Note

218 points up movement observed.

19 sept. 2023

Note

going towards 20492. Let us observe

20 sept. 2023

Note

Todays Deep fall of price can give us an idea that wave 2 is forming; This WAVE can last till 19840 (bare minimum 0.382); 19605(0.618) 19523(0.7) 19223 ( Maximum 0.99) before NIFTY takes a WAVE3.

WAVE2 is corrective with a,b,c strucutre. if we consider 279 point drop as WAVE A in WAVE 2 WAVE C can complete at 19840.

Let us observe

22 sept. 2023

Note

I am expecting NIFTY touches or take reversals (uptrend) before 19604.80. On 75 minutes time frame it is already in WAVE 4.. if it is successfully takes uptrend above 19604.80 WAVE 5 completes at 20604.30

it is a different dimension to our analysis. as of now we are just using daily time frame. including 75 minutes time frame gave me this idea. Let us observe.