Nifty 50 Archives - Page 4 of 4 - Elliott Wave Forecast

Nifty Trade Video Clip from Tuesday 16 Jan 2018 Live Trading Room

We told members early this week that Nifty is showing a nice structure to trade. The Index has a bullish sequence from Sept 2017 low which favors more upside. In addition, the Index also shows what looks to be a 5 waves up and Index is correcting the 5 waves rally within wave B that is expected to end at the blue box as the 1 hour chart below shows.

In the Live Trading Room, we proposed a trade to buy wave B dips at 10672 for a 100% target from Sept 2017 low at 10869. Below is the entry in our trading journal that we provided to members during the Live Trading Room

Below is the video clip summary of our recommendation to members

We reached our target profit at 10869 on Thursday 18 Jan. Since the trade has initial risk to reward of 2.6, with a 2% risk in the trade, we got 5.2% profit for this trade.

We hold Live Trading Room for Group 1 daily at 6 AM EST / 11 AM GMT. Live Trading Room Group 2 starts at 5 AM EST / 1 0 AM GMT. Join us everyday to get trading idea and learn how to execute trades using our technique of 3, 7, and 11 swing. Take the 14 days TRIAL without any commitment to check our work. You will get access to Live Trading Room, Elliott wave charts for 52 instrument, live sessions, 24 hour chat room, and more today.

Short term NIFTY Elliott Wave view suggests the rally to 9709.3 ended Intermediate wave (1), and the pullback to 9449.06 low ended Intermediate wave (2). Rally from there could be unfolding as an Elliott wave Zigzag structure where Minor wave A is in progress as a Leading diagonal structure. Minute wave ((i)) ended as a double three Elliottwave structure at 9649.80 and Minute wave ((ii)) ended at 9596.30. Up from there Minute wave ((iii)) is unfolding as Elliott wave Triple three structure where Minutte wave (w) ended at 9700.7, Minutte wave (x) ended at 9642.65, Minutte wave (y) ended at 9830.05, second Minutte wave (x) ended at 9778.85 low, and Minutte (z) of ((iii)) is proposed complete at 9892.6.

Expect Index to pullback in Minute wave ((iv)) in 3, 7, or 11 swing to correct the cycle from 9595.50 low before the rally resumes higher again for 1 more leg in Minute wave ((v)) of A. Afterwards index should pullback in Minor wave B to correct the cycle from 9449.06 low in 3, 7 or 11 swing before another extension higher. We don’t like selling the Index and expect buyers to appear after Minute wave B pullback is complete provided the pivot at 9449.06 low remains intact.

Nifty Trade from 16 Jan 2018 Live Trading Room

Nifty Elliott wave view 7.14.2017

NIFTY 1 Hour Elliott Wave Chart