NIFTY ELLIOTT WAVE UPDATE

PREFER-ED WAVE COUNT- WAVE 5 NEAR AN END OF IMPULSE.

CURRENT TREND- UP

CURRENT WAVE NOTE- WAVE 5 CAN BE DIAGONAL,TRUNCATED (FAIL),NOT EXTENDED BECAUSE WAVE 3 IS EXTENDED  

NEXT WAVE POSSIBILITY- WAVE A

FIBONACCI LEVEL FOR NEXT WAVE- STILL DEGREE OF IMPULSE IS NOT COMPLETE ANY MOVEMENT BELOW 6150 WILL CONFIRM WAVE 5 CYCLE IS OVER AN WAVE IS IN CORRECTIVE MODE.

TREND-LINE- PARALLEL LINE IS TO WATCH OUT.

SHORT SUMMARY- DURING DAY TRADE ANY MOVEMENT BELOW 6250 WILL TRADE IN BEAR SIDE.

 

# ALTERNATIVE WAVE LABELING IS NOT MENTION ABOVE.

FOR QUICK UPDATE LIKE US ON - https://www.facebook.com/NiftyElliottWave

TO STAY UPDATED.

#nifty #fibonacci

Next Fibonacci support at 5944.

>>> click on chart to zoom <<<

fibonacci relationship between wave(s)

see how Fibonacci level help to identify wave possible move.
below chart help you to explain between wave retracement  @ 61.8 and @ 2.618.
see how upper trendline can restrict the future move.

more update soon .........

>>>> click chart for zoom <<<<

NIFTY ELLIOTT WAVE

NIFTY ELLIOTT WAVE
CLICK ON CHART TO ENLARGE IT.

BELOW CHART WILL SHOW HOW NIFTY WILL MOVE SOON