NIFTY - Triple Bottoms on uptrend - 5th Elliot impulsive wave
I am seeing this in the
NIFTY
cash Daily timeframe.
Are you guys seeing the same? Or I am hallucinating (at 10:30 PM night J )
Observations:
Going forward
NIFTY
cash Daily timeframe. Are you guys seeing the same? Or I am hallucinating (at 10:30 PM night J )
Observations:
- 3 rounding bottoms formed in an uptrend.
- There is a clear ascending triangle
- Now the interesting part is: if we take 20th June as the starting of the wave, then it is aligning perfectly to A, B, C, D waves. All the conditions are met (like wave-3 is max, wave-2 is 60% of wave-1).
Going forward
- Ongoing impulsive wave-5 will be similar to wave-1. So the top is coming around 16575.
- The correctional wave-1 (Point-5 to Point-A) coming around at 16200 (Point-A)
- The correctional wave-2 top (Point-A to Point-B) is coming around (some June-7 level) 16500.
- The correctional wave-3 (Point-B to Point-C) bottom coming around (similar level as wave-4 as in uptrend move) 15950 (Point-C).
