#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)
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15 Months to this post. No change in the larger projections.
Long Term Chart of the Year.#NIFTY - Wave 5 (Cycle Degree) Target Zone of 25000-34000 by 2024-2027.
— Piyush Chaudhry (@piyushchaudhry) December 19, 2020
Reassessment on a breach below Blue Trendline. A breach is not a necessary invalidation. Depends on internals.
The dashed path is for representative purpose only. #ElliottWave pic.twitter.com/1xVY4OSr5T
₹Nifty > #Nifty
Tight Bearish divergence on Nifty Weekly. Ready to snap back to Weekly 20 EMA? Current Weekly 20 EMA at 16864. Stay Cautious!
— Krunal Thakkar (@KrunallThakkar) October 22, 2021
\u20b9Nifty > #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
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