Elliott wave analysis # Can predict market or not !!!
It does not matter that what technical tool we are using. If we use in right way without adjusting/ignoring any signal inputs, we can 'beat the market'.
If we use Elliott Wave correctly, Market can be predicted in well advance.
1. Follow Elliott wave rules, never disobey
2. Not do any adjustment in wave counting
3. Use right TimeFrame. Wave formation will be merged in higher timeframe and so do wave count
If we use Elliott Wave correctly, Market can be predicted in well advance.
1. Follow Elliott wave rules, never disobey
2. Not do any adjustment in wave counting
3. Use right TimeFrame. Wave formation will be merged in higher timeframe and so do wave count
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Nifty updated wave count. Fall is still pending and going to be in range.
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Same view for Banknifty also and should not cross above 32000 level before correction completes
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----- My view is not for trading -----
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Alternative count: Suppose if wave (x),red color completed at 10:30 (Jan 25), fall from 10:30 is final part and almost completed, just z pending.
Max level it can fall further (should not go below this level)
Nifty : 14144 , Banknifty : 30718
To confirm that trend is reversed, it should cross this points from tomorrow low
Nifty: 301 , Banknifty: 10015
Either case - whether this alternative or previous one, fall may not continue stronger and there may be pull back as described
Max level it can fall further (should not go below this level)
Nifty : 14144 , Banknifty : 30718
To confirm that trend is reversed, it should cross this points from tomorrow low
Nifty: 301 , Banknifty: 10015
Either case - whether this alternative or previous one, fall may not continue stronger and there may be pull back as described
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*Banknifty: 1015
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High probability that alternative 2 would be correct one.
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Did few mistakes, so one expectation skipped. This is the fall 8-10% as described in the analysis
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This fall will be TWO (Y) + optional (Z) double three combination and optional TWO double three combination. So far (Y) almost completed
