#Nifty
1. 17400 to 18115 (Expected)
2. 18115 to 16825 (Actual)

Its playing out. Need to form bottom to call higher low n start moving up to confirm it. Lets get the reversal sign from 16620-16900 zone which is 200dema,50-61.8% fibo

I see this as higher bottom formation process

More from Shivaji Vitthalrao🇮🇳

BEML

1. Stock is consolidating in the band 100-120 on lower side & 1900-1950 on upper side.

2. CMP 1344 1st targets 1850-1950

3. Medium term targets 2400-2500

4. Long term taregts 3500 first and then 8,000-10,000 in next 4-5 yrs

5. This is going to be 15-16 years breakout https://t.co/BXMv5GjsGW


6. Stock hits high 160-175 in 1995 & 1997

7. went into down trend, consolidated for 3 yrs 1999-2002

8. Gave breakout above 34 hinting at major shift in Feb 2002

9. Gave 1st multi year breakout in Oct 2003 above 160-175 which was failed

10. Next attempt in Sep 2004 crossed 175


11. Above 1995-1997 highs (160-175) stock went on to become 10x in a matter of 20-22 months

12. CMP 1344 Multi year breakout will trigger above 1950 on weekly closing basis

13. Will be watching 1st breakout above 1950

14. SL 1260/1100 depends on risk of the trader or investor

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#Nifty

So now that Nifty has undergone ABC correction in the expected manner, what to expect next?

I think we have started larger degree wave 3, once 16800 was crossed.

16800 is the reference level now. We will get more sense by end of next week/ month. https://t.co/KsziuUpZxU


#NIFTY

If 17445 is taken out, then may be we are heading to fresh new all time on Nifty.

Things may pan out way faster than expected.


#NIFTY

Zoomed in cross-section of the chart above.

Wave 3 of 1 should have started today, which can take Nifty to fresh all time highs.


#NIFTY

So now Nifty is moving more clearly on the expected path, what's next?

Nifty has started longer term wave 3 advancement, pending final confirmation of HH by crossing 17800.

In Wave 1 of 3, can expect a move to 20k+.


In terms of longer term wave structure:

Wave 1: 7500 to 18600
Wave 3: 15700 to 35000+

And this can pan out over next 2 years or so.

Since wave 2 was a shallow correction, wave 4 can potentially be a deeper correction.

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