barefootTrades

barefootTrades

Nifty is not done yet as per this count and there's clearly more upside to be seen in coming weeks. Alternatively an expanded flat in red wave iV cannot be ruled out for now, which however would still lead to more upside later. I will update the chart as it develops further. Thanks for reading!

barefootTrades

Stock seems to be getting ready a move higher in wave (iii) of 3 (the most powerful move). Currently the correction in wave (ii) might have been completed as shown on the chart or could make a lower low to complete the correction. Break of wave x at 850 would add more confidence to this idea. Regardless of the shorter time frame, the stock seems to be getting...

barefootTrades

With the recent break of red wave iii high, the pattern seems to be a 5 wave move up from March, 2023 lows. Also patten preceding the impulse wave seems to be in 3 wave (zig-zag correction) hence adding more conviction my current wave count. A break of all time high at 2022 will add more confidence to this view. Will update the chart as it develops...

barefootTrades

I spot a clear 5 wave structure since March, 2022 lows. Clearly indicating that there is more upside in the coming months. A very simple and clear structure in my opinion.

barefootTrades

Seems like nifty is doing a 5 wave move up from the recent lows. Wave 3 has crossed the 1.618 extension of wave 1 and now a pull back in wave 4 should be seen thereafter to continue in wave 5 higher.

barefootTrades

The bounce in Nifty currently seems to be in 3 waves. If 17428.05 marked the completion of wave 3 and 17207.25 is taken out before making another move up (i.e. above 17428.05), then it would suggest that nifty will see more downside in the coming weeks/ months.

barefootTrades

The idea presents two possibilities on Bank Nifty as follows: 1. corrective move: this suggests that bank nifty is moving down in a double zig-zag pattern where the index is currently in wave b of wave y. post which the index should head higher in at least three waves if not five. 2. Impulsive move: this suggest that index is heading down in an impulsive manner...

barefootTrades

Nifty seems to be completing a zig-zag correction soon. Then we see a bounce of at least 3 waves if not 5. The nature of bounce we get shall decide whether we are heading for new highs or more correction is in store! I shall update the idea accordingly. Thanks for reading :) #NIFTYFUTURE #niftyfutures #niftyoption #Elliottwave #NSE #StockMarketindia #niftyupdate

barefootTrades

expecting wave 5 of wave 3 to continue up. a break above wave (b) would be the confirmation.

barefootTrades

probable Elliott Wave count for the on going correction. Correction is not over yet in my opinion, there should be one more leg down before Nifty continues higher to create new highs.

barefootTrades

21.09.2021 - as updated earlier, the price dipped into the daily supply zone and recovered quickly from it (refer link in comments section). - from Elliott wave stand point i am expecting a one more dip into this area (being wave 5 of c of 2 of larger wave 5) - that being said wave C would equal wave A at 38766.25 (linear scale) and at 39542.55 (log scale) -...

barefootTrades Updated 

- Currently the price seems to be pulling back in wave 3 of C of 2. - expecting the price to retrace till the daily demand zone (Equilibrium at 0.80). - other potential reversal points: 1. 0.618 length of wave A - 0.8575 2. equal length of wave A - 0.7371 3. 0.618 retracement of wave 1 - 0.7522 - move below 0.5090 will invalidate this count. Please share...

barefootTrades

- As expected, the the wave 4 played out to be a triangle & seems to have been completed. A drop below 0.2145 (almost there) would confirm it. - most likely final leg of the correction (i.e. wave 5 of c of 2) is unfolding. - expecting the price to reverse between the 0.705 - 0.786 fibonacci retracement (marked as red box). - the above zone is also confluent with...

barefootTrades

As per this count, we seem to have completed the wave 1 of the major wave 5 and are currently in the final leg of wave 2 (down) of wave 5. A move above 0.2639 will invalidate the triangle (i am anticipating a triangle for wave 4 in wave C of 2). overall expecting a move below 0.2145 for completion of wave 2 and then we most likely head higher. Please share and...

barefootTrades

24.08.2021 - as expected, the price headed up to the supply zone and got rejected. - for now watching the price action to develop to gauge the downside potential.

barefootTrades

20.08.2021 - price again retested & held the interim resistance of 43750 as marked in the previous two updates. - the price is headed up (most likely) to the next major resistance around 49500- 51500 (daily supply zone), where we can expect a decent pullback in price.

barefootTrades

13.08.2021 - price has crossed, retested & held the interim resistance of 43750 as marked in the previous update. - the price should ideally head up to the next major resistance is around 49500- 51500, where we expect a decent pullback in price. - momentum is also fine on the higher time frames to support the move up.

barefootTrades

26.07.2021 - After almost 1 month since the previous attempt to break 36274, BTC has broken the resistance with good volumes. - it appears to be a impulsive move and a retest of the 36300 level should hold and the move up should continue. - currently price has tapped the daily supply zone, once we clear this, next major resistance is around 49500- 51500.