Nifty Elliott Wave analysis 23-01-2021
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Om Namah Shivay
Today 23-01-2021, Nifty made wave structure which is depicted in the chart. It looks the 2nd wave made a triangle. Structure can be an ABC and then the limit has reached and a change is expected.
The preferred options can be found out when compared with other Nifty Indexes like banknifty.
Originally the EW is drawn on 3 min chart.
This is for learning purpose. There is no trading suggestions given in this.
Om Namah Shivay
Today 23-01-2021, Nifty made wave structure which is depicted in the chart. It looks the 2nd wave made a triangle. Structure can be an ABC and then the limit has reached and a change is expected.
The preferred options can be found out when compared with other Nifty Indexes like banknifty.
Originally the EW is drawn on 3 min chart.
This is for learning purpose. There is no trading suggestions given in this.
Om Namah Shivay
Note
Wave 2 is not supposed to be a Triangle. The big structure looks convincing. So the Triangle area needs more inspection. The ABC structure looks complete as of now. The upward movement can be different. Just provided an option with the movement and the target it should achieve.
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