BC NIFTYLONGTERM
Saved by @SAnngeri

Well, alarms were sound.
₹Nifty > #Nifty

 Explanation for the alarm that sounded. Textbook short term top.
Clean technicals.
₹Nifty > #Nifty
Is Nifty gunning for an ultimate double zig-zag shake out towards 17k which would coincide with weekly 20 EMA and 100 DEMA tag? Fair possibility. Only time will tell. Watch for the break of 50 DEMA and support zone.
₹Nifty > #Nifty

@piyushchaudhry
If Nifty breaks 50 DEMA and closes below 17700. 17220-17150-17000 possible. Worst case scenario is ~17000. Lot of confluence support in that range.
Do your DD.
₹Nifty > #Nifty
Nifty’s daily looks like ABC is done, but internals suggests that it still needs a final sell off to make a bottom for WXY. A bull trap towards 17735-17810 can’t be ruled out before the final sell off.
Just analysis, reserve the right to be wrong.
₹Nifty > #Nifty
If Nifty breaks 17k, next strong support confluence is at 16606 which will fill breakaway gap from Aug 2021.
₹Nifty > #Nifty
I shared this with a few people personally yesterday, now posting here.
Just amazing how market works.
Fib levels confluence at its best!
Nifty daily zig-zag 1.618 fib extension at 16606.15
Nifty hourly zig-zag 1.00 fib extension at 16606.55
Double zig-zag ready!
₹Nifty > #Nifty
Nifty #ElliottWave WXY double zig zag done or almost done which was anticipated on my Twitter right before the 0.618 retracement of wave W (wave X) took place. The final leg (c) of Y can be turncated within 0.786-1.000 showing bullishness of the market.
₹Nifty > #Nifty
22/10, when Nifty was @ 18.1-18.2k, I had anticipated a snap back to Weekly 20 EMA, then anticipated a double zig zag correction at 0.618 retracement in wave X. The correction seems to be done now. 2 hourly hammers on the chart with bullish divergence on the RSI.
₹Nifty > #Nifty
Target:
1. 19637-19730
If sustains above that
2. 21401-21552
₹Nifty > #Nifty
Leading diagonal and abc correction done. Now wave 3 impulse towards 17350. Then wave 4 and 5 remains, I’ll let it unfold one by one.
₹Nifty > #Nifty
Invalidated! We could be heading down to make a double bottom or new lows towards 16600-16765.

This can also be a wave 2 expanded flat of the leading diagonal from the bottom. Let the structure form. Confirmation only above 17350.

₹Nifty > #Nifty
Daily chart suggests retest of the lows or new lows, 16606-16681-16765 are the levels to watch out for. Added 16681 as new data on the chart emerged.
Very important to break 17220 for upside towards 17325-17350.
₹Nifty > #Nifty
₹Nifty > #Nifty #ElliottWaves https://t.co/Z24PhFiBet
So I was early to end the X there. The final wave Z (climax sell off) is here, we’ll see if the lows are broken as mentioned above in the thread. Risk:Reward will be impeccable @ 16600-16765. Worst case scenario at 200 DEMA 16300. The bottom is coming, get ready
₹Nifty > #Nifty
16600-16765 range is here on the Nifty. Wait for a sign of reversal before entering longs. As I said, worst case scenario at 200DEMA.
₹Nifty > #Nifty
If this is a triple zig-zag, we are seeing an extended 5 wave decline of the wave C of Z, but if Z ends up being a 5 wave structure in itself then wave 4 and 5 remains. Risky traders can start going long near 16600.
₹Nifty > #Nifty
Looks like 5-3-5 is done of Z. No mercy climax sell off. Price action and RSI both show zig-zag is done. Plus, there’s a ton of fib level support and horizontal polarity support at 16600.
₹Nifty > #Nifty
Most things indicate that the bottom is in already which is yet to be confirmed by the price action, but the characteristics are there. Now only buy the dips (Fib ret. of the up move) and follow the trend up.
Only skilled traders can look to trade contra moves.
₹Nifty > #Nifty
5 waves up leading diagonal seen on Nifty. Invalidation at 17300. Above 17300, scenario may change to 1-2-1-2-3-4-5-4-5 which is unlikely.
Watch out for a wave 2 retracement/pullback around 0.5-0.618-0.786 Fib levels.
₹Nifty > #Nifty
Market volatility increasing to the downside. 5 waves up leading diagonal done. Watch for 0.5-0.618-0.786 retracement of the up move towards 16850-16750-16600. Watch for the break of 17150.
₹Nifty > #Nifty
17150 held and we are off to the moon. Index up 7.5% from the bottom!
₹Nifty > #Nifty
We are near the end of 5 waves up. Time to start getting cautious and look out for retracement towards 20 DEMA.
₹Nifty > #Nifty
If 17700 breaks on Nifty, next confluence support at 17600. Horizontal S/R Polarity + Fib Retracement level + 50 DEMA!
₹Nifty > #Nifty
Five wave decline done on Nifty with long tail rejections at 17600 support and positive divergence. Look for the break above 17650 and 17900-18000 is on the cards.
₹Nifty > #Nifty
If 16835 breaks on Nifty, then 16600 gap fill likely ahead.
₹Nifty > #Nifty
On the upside, watch for the break of 16975 and 17200 is likely.
₹Nifty > #Nifty
200 points done above 16975. 👍🏼
₹Nifty > #Nifty
About time I post a Nifty update as Oil & DXY are showing signs of exhaustion.

Elliott wave count points to a bottom around 15200-15450 (Monthly EMA + Previous Consolidation Support {SR Polarity} + Fib levels) confluence support. Wave 4 and 5 yet to unfold.

₹Nifty > #Nifty
5 waves up leading diagonal seen on Nifty, won’t be surprised to see 15850-15920 retracement. Upmove taking resistance at 16150 and fading. Can also do ending diagonal towards 16200 and retrace.
₹Nifty > #Nifty
No retracement, only continuation. This has happened to my analysis second time. Such are market short covering reversals. Good learning. Bias remains bullish until 16400-16600 tag.
₹Nifty > #Nifty
If things are going as they’re going in global markets and macros, the bottom is already in. I don’t know if the market will retrace 0.236-0.618 or 80% or 90% or double bottom or a new low after tagging 16400-16600. Reversal clarity only above 16850 closing. 🙏🏼
₹Nifty > #Nifty
Nifty trying to breakout of multiple hurdles. Wait for the close!
₹Nifty > #Nifty
Possible Nifty’s path if breakout follows through.
₹Nifty > #Nifty
Be very careful with the longs today. Market is over extended. Can see a pull back towards 16800 for the breakout retest. Look for the signs of reversal. CMP 17210 spot.
₹Nifty > #Nifty
Nifty inching closer towards 17600-17650 polarity range with RSI close to 60 which usually acts as resistance too. Next stop after that is the upper trendline, leaving big gaps on the way.
₹Nifty > #Nifty
Two possible scenarios going forward.
1. Ceasefire puts an end to this rally below 17891.30 (Invalidation level)
2. Above 17891.30 we can see ATH with 1-2-1-2-3-4-5-4-5; 9 wave rally towards 18775-19k
Classical patterns like Flag & IHNS breakout favours #2
₹Nifty > #Nifty
Third possible scenario is just an ABC up towards the upper trendline, rejection of which means the correction is likely to last another few months.
We are going to 17800 minimum, nonetheless.
₹Nifty > #Nifty
The internal structure looks messed up to me with 5 waves done to almost done near 17600 polarity. I’m preparing for a pullback/retracement.
₹Nifty > #Nifty
3rd of a 3rd incoming? Close above 17650 would confirm it.
₹Nifty > #Nifty
As we approach multiple turbulence for Nifty ahead, it’s time to stay cautious. Although Fib Min Ret. is done, we can’t deny that we’re in a corrective phase of the market & Fib Min Ext. comes in at the week of May 23, 2022.
Nifty may hit ATH in the process.
₹Nifty > #Nifty
The Risk:Reward is unfavourable ATM with immediate resistance at the trendline & previous highs, so it would be wise to wait for a pull back. Even if this move takes us to ATH, there will be a wave 2 pullback opportunity later. Never FOMO, always manage your risk
₹Nifty > #Nifty
Fibonacci Time Extension*
Not to mention Nifty’s CMP is 4.8-5% away from the 20 DEMA & at the upper bollinger band. A lot of confluence resistance ahead.
This doesn’t mean short the market blindfolded without any PA confirmation.
Yes, we are in a bull market.
₹Nifty > #Nifty
Reliance could tag 20 DEMA where 2560 support lies and could reverse, essentially helping Nifty towards 18k again? 🤔 hmm…
HDFC Bank and HDFC also should have some retracement bounce as well.
Nifty also at 17600 S/R polarity.
₹Nifty > #Nifty https://t.co/3DNdErvjgd
Broke yesterday’s high and sustaining. Who needs the so-called data when you understand the price action! Data changes as price action changes. Consolidation likely between 17600-18100 now? Hmm…
₹Nifty > #Nifty
Third scenario played out. Nothing impulsive, only corrective. Sustenance below 17500 could mean 17200–16900 for now.
₹Nifty > #Nifty https://t.co/Ms39LC7wZ1
16895 low, further pain likely towards 16675-16840 gap fill. Then will re-evaluate with price action.
₹Nifty > #Nifty
Nifty Update: Nifty about to make H&S on hourly? 🤔
We saw a 5 wave move down.
Any bounce towards 17400-17600 can be an opportunity to short. Have to look for price action signal and wave count when that happens. Essentially, look for a 3 wave corrective up.
₹Nifty > #Nifty
Do not get carried away by the C wave bullishness. The climax sell off remains! DXY is overextended near major resistance 103, Crude is back below $100, Metals breaking down. Signs are bullish for the market, but climax sell off remains for deception to trap the bears!
#Nifty
Having said the above, the C of C is yet to play out towards 17400ish!
₹Nifty > #Nifty
16800 ke niche ye rukega nai.
Could be next week.
₹Nifty > #Nifty
Nifty Update: Moment of Truth! Let’s see where this breaks.
₹Nifty > #Nifty
ABC done? 5 waves seen. Range expansion playing out on the downside with volume. Daily close will see rejection of the 20/50/100 DEMA convergence. Wait and watch to short. 🙇🏻‍♂️ Ping Pong 🏓
(Could short the open tomorrow with todays high as SL)
₹Nifty > #Nifty
5 waves that played out could also be 1 of C, where 5 waves will take Nifty towards 17600 SR Polarity.
Clearer picture will develop in coming days.
₹Nifty > #Nifty
Earlier Tweet with Fut levels: 60 points one way. Any retracement towards 17365-17385 can now be shorted.

Correction with Spot levels: Retracement towards 17340-17355 can be shorted with 17400 as SL.

Now, almost 90 points one way!
₹Nifty > #Nifty https://t.co/pKCO70QHdw
5 waves of wave 1 done, do not short now, retracement towards 17200 likely!
₹Nifty > #Nifty
17288 high, then 230+ points whipsaw in the next 25 mins.
₹Nifty > #Nifty
#ElliottWaves are the best, only if you’re good at it. https://t.co/mfnPTzePnQ
Nifty Update:
Shooting Star like candle on Monthly

Inside Bar with double rejection of Weekly 20 EMA on Weekly

Bearish Engulfing with H&S formation on Daily (Range expansion on the downside with volume)

Wave 3 of 5 started

Retest of March lows totally likely

₹Nifty > #Nifty
Not to mention, it can also play out as a 3 wave decline. The view remains bearish regardless.
₹Nifty > #Nifty
17105-17130 short zone. SL 17160 SPOT. Intraday only.
Positional short zone 17210-17300 as mentioned in the charts above. SL 17380.
₹Nifty > #Nifty
Nifty FUT trading in a channel and volatility compressing. Can break either side. Upside limited to 17150 intraday, downside can see 16800 and more pain.
₹Nifty > #Nifty
I would short any bounce towards 17000 now with an SL of 17025!
Looks like wave 3 started!
₹Nifty > #Nifty https://t.co/z3MpADx1ue
5 waves down seen, so bounce or sideways is imminent.
Short range 17000-17040. SL 17065.
Wave 1 of 3 bottomed at 16823.
Wave 2 of 3 in progress.
Market may be bouncing to trap the bulls to anticipate nice things from RBI Governor at 2pm.
₹Nifty > #Nifty
Governor disappointed the bulls as anticipated. Nifty saw a sudden 100 point bounce before selling off trapping the bulls as anticipated.
Now it looks like Wave 1-2-1-2 is playing out of wave 3. March lows coming. Invalidation above 16850.
₹Nifty > #Nifty
Now any bounce towards 16800-16900-17000 can be sold into positionally. SL close above 17050.
₹Nifty > #Nifty
Choppy expiry day may be seen tomorrow towards 16800 for a H&S breakdown retest! Not the place to short in my opinion. I’d rather miss out. I’d rather short the choppy rise then FOMO to “Behti Ganga mein hath dhoona”
₹Nifty > #Nifty
Sustenance above 16850 would mean a bear trap shake out played out yesterday and a no trading zone of 16850-17000.
Any sustenance below 16800 and above 17000 will give a clear direction.
It’s unlikely that 17000 will be broken, but market can do anything.
₹Nifty > #Nifty
As mentioned, key level was 16850 & key support was 16800, below that we saw 1 way sell off again
Wouldn’t be surprised to see another rangebound day tomorrow
Put writers were shown no remorse
Expect to see downtrend continue
Invalidation still close above 16865
₹Nifty > #Nifty
4 hours of rangebound session again. Trend may start soon now! Watch for the break of 16350 or 16450-16500 (Resistance zone)
₹Nifty > #Nifty
Lots of oversold counters showing signs of reversal. Nifty May head towards 16500, then 16650 gap fill.
Find your best longs and ride them in this potential bounce.
₹Nifty > #Nifty
I do not expect any bull moves unless we sustain above 16.4k and take out 16.5k convincingly. Didn’t even tag an hourly 20 EMA and sold off. Next targets 16k-15.7k.
₹Nifty > #Nifty
If 16200 is held and wave C of 4 is yet to play out, then 16500-16650 still possible. As mentioned below 16200-16400 no trade zone.
*Excuse the phone chart*
₹Nifty > #Nifty https://t.co/tnDchEiVR1
Yesterday mentioned scenario clearly didn’t pan out, but the good thing about the morning sell off is that the 5 waves of wave 3/C looks to be done although it can extend and 5th can have its own 5. Hourly RSI showing divergence. Weakness only below 16k.
₹Nifty > #Nifty
₹Nifty > #Nifty https://t.co/Uqd1owEDAB
Broader picture. @SahilKapoor @piyushchaudhry
₹Nifty > #Nifty
Account was locked, so couldn’t tweet. Carnage ensued below 16k & 34k. Behaved exactly as anticipated. Picked the bottom for retracement rally when target 2 was met, target was 16736, low 15735. Bare 1 or 2 handles were bullish after yesterday’s price action.
₹Nifty > #Nifty
Nifty breaks yesterday’s high! ✌🏼
₹Nifty > #Nifty
The much awaited bounce is here. If it sustains above 16100, be ready to book your positions in the range of 16360-16420. Anything above that is a bonus. Will re-evaluate later!
₹Nifty > #Nifty
16400 is here! I would look to off load my positions between 16400-16435. 20 DEMA tag is possible, but wouldn’t wait for that.
Don’t cry foul when we start selling off again. There’s another leg down pending in my honest opinion, but what do I know!
₹Nifty > #Nifty
Nifty wave count update.
Invalidation at wave 1 low.
₹Nifty > #Nifty
Wave 4 does not look to be complete yet. It has spent only half the time as wave 2. Some whipsaw deceptive moves up and down likely before final breakdown, if it has to happen. Stay out until clarity emerges. Targets given below as of now. Will re-evaluate later.
₹Nifty > #Nifty

More from Niftylongterm

Waves_Perception(Dinesh Patel) \u092e\u0948\u0902Schedule Tribe)
Waves_Perception(Dines...
@idineshptl
#NiFTY_50(15966.65)

#Hold short.... Continue...as per weekly view.

Daily chart.

Pending means target near to Fibonacci retracement level 0.382% (14366).

Weekly chart for Fibonacci retracement level.

#Perception
NIFTYLONGTERM
Piyush Chaudhry
Piyush Chaudhry
@piyushchaudhry
If you truly love her, let her go .. to 15000 and below.
If she loves you, she will come back at 16000 .. later this year or next.
NIFTYLONGTERM
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Ameya
Ameya
@Finstor85
and we are in the range now! 15282 is the low of the range. I start buying between 15666-15282. Big Q is, will we stop in the range & reverse? Honestly, I don't know. All I know is range is here, deserves some allocation in core conviction ideas. #niftymasterchart https://t.co/RXuJb0dTWi
NIFTYLONGTERM
Dinesh C Nagpal
Dinesh C Nagpal
@bluechips4u
#Nifty near its weekly 108ema {15300) last time that was tested was back in Sept 2020 which then led to a very strong rally. For now, lets see if it holds and gives a bounce (reversal can be reviewed later)


Monthly 34ema is at 14600, if the weekly support fails to hold then this becomes the next major and super one to start aggressive buying near it


The immediate resistance is at daily 13ema currently at 16000 (will dip down). Only if Nifty breaks and sustains above it will I consider a bottom done, else will treat it just like a bounce in case it turns before testing the Monthly 34ema


The last leg of every correction is always severe, all you read/hear is utter chaos. From today start looking at stocks you would like to add to your portfolio for the MEDIUM/LONG term - we are almost there. Happy Investing!
NIFTYLONGTERM
Harsh / \ud5c8\uc26c
Harsh / 허쉬
@_Harsh_Mehta_
As long as 15775 is not breached, bull case remains. Will be portfolio cautious only below 16000. Otherwise the path on chart is the way 5th wave should play out till Sept-Oct 2022.

16350 waapis nahi dikhega in 2022, woh aap bhi dekh saktey hai - IF 5TH PLAYS OUT. 😃

#Nifty
NIFTYLONGTERM

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