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S&P 500 (SPX) Looking for Short Term PullbackShort term Elliott Wave view in S&P 500 (SPX) suggests that the rally from 3.13.2023 low is unfolding as a 5 waves impulse structure. Up from 3.13.2023 low, wave ((i)) ended at 4186.92. Dips in wave ((ii)) ended at 4046.07 as the 60 minutes chart below shows. Up from there, wave (i) ended at 4147.02 and pullback in wave (ii) ended at 4098.92. Index extends higher in wave (iii) towards 4441.2 and dips in wave (iv) ended at 4328.08. Final leg higher wave (v) ended at 4458.48 which completed wave ((iii)). Pullback in wave ((iv)) is in progress to correct cycle from 5.4.2023 low in 3, 7, or 11 swing. Down from wave ((iii)), wave (a) ended at 4385.05. Expect wave (b) rally to fail below 4458.48 and the Index to turn lower in wave (c) before it completes wave ((iv)) and resumes higher. Wave ((iv)) typically ends somewhere at the 23.6 – 38.2% Fibonacci retracement of wave ((iii)). That area is at 4301.2 – 4361.1. From here, the Index can find buyers for further upside. Near term, as far as pivot at 4046.07 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
SP:SPX
by Elliottwave-Forecast
BANK NIFTY SYMMETRICAL TRIANGLE - 04/07/2023BANK NIFTY Formed SYMMETRICAL TRIANGLE PATTERN BUY ABOVE - 45250 SL - 45140 TARGETS - 45350,45500,45640 SELL BELOW - 45100 SL - 45220 TARGETS - 44900,44790,44700 Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. HAPPY TRADING GUYS
NSE:BANKNIFTY
by Jagadheesh_JP
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