NIFTY is looking like in wave (Z).
Now, wave (Z) is always in 3 moves (ABC).
If we take a look in 75 min chart of NIFTY, we may see wave (a) of wave (Z) finished on 12 Feb. The price is in wave B of wave (b) now.
It looks like Zig-zag pattern is forming and it is observed most of the times that, Wave B of Zig-zag takes at least equal time of wave A.
So we may assume that, wave (b) of Zig-zag will finish at least by 19 Feb near 50% to 61.8% And then we may expect a fall to form wave (c) of Zig-zag.
This analysis is based on Elliott Wave theory and Fibonacci.
This analysis is for educational purpose only.
Now, wave (Z) is always in 3 moves (ABC).
If we take a look in 75 min chart of NIFTY, we may see wave (a) of wave (Z) finished on 12 Feb. The price is in wave B of wave (b) now.
It looks like Zig-zag pattern is forming and it is observed most of the times that, Wave B of Zig-zag takes at least equal time of wave A.
So we may assume that, wave (b) of Zig-zag will finish at least by 19 Feb near 50% to 61.8% And then we may expect a fall to form wave (c) of Zig-zag.
This analysis is based on Elliott Wave theory and Fibonacci.
This analysis is for educational purpose only.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.