Indice Nifty 50
Short

Nifty - Elliot Waves - Another Possibility

233
Well, Nifty is at a place that there are so many possibilities :)
This one is in line with the previous one, where I had mentioned that 5 up is pending and 25k can come.
I saw a few stocks making an expanded ED and turning, which gave the idea that Nifty could also be doing that.
So, here it goes - we go up in an E - 24800 is top of the expanded ED - we might even see a throw over to 25k - but unlikely) and then roll over.
After that there will be 2 options:
1. Bullish Scenario - We are just doing a 1 and the retracement we get is 2 (23400 target). Once this retracement is over we head to all time high.
2. Bearish Scenario - This entire leg up was corrective and we head down breaking April's lows.
In both cases we should get a decent short opportunity aroun 24800-25000.

However, now we have a minor trade for long - I would usually trade this very light and mostly intraday.

Will wait for the end of move for short trades. All the best!

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.