Nifty 50 IndexLong
NIFTY UPDATE with Elliot marking
🤔 Three parameter need to track when you take entry
1. Stop loss
2. Target
3. Trailing stop
--------------------------------------------------------------------
NIFTY SPOT - Close - 17063.25 dn 29 point (23/02/2022) , , , , ,
---------------------------------------------------------------------
> View for 24 Feb ,
> No major change in trend - Till trading above 17009 upside to continue , and below 17009 again to test weekly support 16939
> 60 min trend Up - daily down - weekly UP
> Close above 17469 bottom out confirmation will come on daily trend,
> Intra day levels upside 17121-17166-17194-17239 and dn side 17004-16959-16932-16887
> At present alternate two considered . . . . If close above daily resistance 17469 then again original set up Alternate one to be consider . . .
> Hence down side Wave C to follow with immediate Target 16282 ( w1 = w3)( marked red color ) and down 15350 ( 1.618 of w1)
> Final support level - 16836 to 16809 - Close below this MAJOR weakness to come . . .
--------------------------------------------------------------------------
> As per reversal trading system ,
> 8 th trading day of Daily trend DOWN and tomorrow will turn UP if closing ABOVE trailing daily reversal 17278,
************************
> Daily trend DOWN - Trailing resistance 17469 ( valid for 24 FEB )
> Weekly trend UP - Trailing Support 16939 , ( valid till 25 FEB )
> Monthly trend UP - Trailing support - 15740 , ( valid till 28 FEB )
***********************
>> Now Swing TURNED DOWN with level 18350 -
----------------------------------------------
For Elliot wave Alternate one and two - refer to marking on chart
----------------------------------------------
Sector and specific script may move as per their trend , not necessary that all script will come down or go up with NIFTY.
--------------------------------------------------------------------------------------
Disclaimer : Details given are as per my knowledge / experience and education purpose only , please take decision after contacting your registered financial advise
1. Stop loss
2. Target
3. Trailing stop
--------------------------------------------------------------------
NIFTY SPOT - Close - 17063.25 dn 29 point (23/02/2022) , , , , ,
---------------------------------------------------------------------
> View for 24 Feb ,
> No major change in trend - Till trading above 17009 upside to continue , and below 17009 again to test weekly support 16939
> 60 min trend Up - daily down - weekly UP
> Close above 17469 bottom out confirmation will come on daily trend,
> Intra day levels upside 17121-17166-17194-17239 and dn side 17004-16959-16932-16887
> At present alternate two considered . . . . If close above daily resistance 17469 then again original set up Alternate one to be consider . . .
> Hence down side Wave C to follow with immediate Target 16282 ( w1 = w3)( marked red color ) and down 15350 ( 1.618 of w1)
> Final support level - 16836 to 16809 - Close below this MAJOR weakness to come . . .
--------------------------------------------------------------------------
> As per reversal trading system ,
> 8 th trading day of Daily trend DOWN and tomorrow will turn UP if closing ABOVE trailing daily reversal 17278,
************************
> Daily trend DOWN - Trailing resistance 17469 ( valid for 24 FEB )
> Weekly trend UP - Trailing Support 16939 , ( valid till 25 FEB )
> Monthly trend UP - Trailing support - 15740 , ( valid till 28 FEB )
***********************
>> Now Swing TURNED DOWN with level 18350 -
----------------------------------------------
For Elliot wave Alternate one and two - refer to marking on chart
----------------------------------------------
Sector and specific script may move as per their trend , not necessary that all script will come down or go up with NIFTY.
--------------------------------------------------------------------------------------
Disclaimer : Details given are as per my knowledge / experience and education purpose only , please take decision after contacting your registered financial advise
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.