Bank Nifty Elliott Wave Count

Bank nifty ended with Five Wave Decline.New trend to watch out.

in above chart wave (ii)  is Flat and wave (iv) is sharp Zigzag .

and wave V truncated. new wave to watch in a-b-c and with alternative of 1-2-3-4-5. 

what will happen when trader use different average and setting

see the difference between macd setting with different average.and accordingly see the change in buying and selling signals.

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Nifty vs Banknifty ( Fibonacci Retracement Difference )

Banknifty

Banknifty almost retraced  61.8% compare to nifty.

and Nifty retraced only 38.2% of impulse.

Advance of next rally will Hit new high in nifty early as compared to Banknifty.

  

                                                                              Nifty

Nifty Elliott Wave Count

Elliott wave setup is set for next trend.
We have clear 5 wave up (motive wave) and followed by 3 corrective wave (a-b-c).
Wave b at 6063 shows clear breakout and confirming next wave up in 5 wave.
Invalidation to our wave count  at 6030.
probability of flat variation in alternative wave count for counter trend.(Invalidation to next wave degree at 5984).Refer last post and continue reading above wave notes.

* no alternative wave has been displayed only after invalidation point.

Nifty Elliott Wave

Preferred Wave Count- A-B-C (zigzag).After completing zigzag wave 5 of 5 (in one large degree of wave count) Truncated. current wave count  Invalidation below 5984.
Current trend up

*no alternative count has been displayed only after invalidation point.

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TURKEY EYE OPENING CHART

TURKEY ISE NATIONAL 100 IS ON MOVE

HERE IS A RIGHT OPPORTUNITY IN TURKEY INDEX. BULL IS IN ACTION SOON.

BELOW CHART SHOWS YOU HOW TURKEY COMPLETED IT'S IMPULSE MINOR WAVE AND THAN THE CORRECTIVE WAVE COMPLETE DEGREE THE NEXT WAVE WILL BRING CHEERS TO TURKEY INVESTOR. A  MULTI -MONTH BULL MARKET IS BACK.



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NIFTY ELLIOTT WAVE COUNT

#NIFTY CURRENT TREND SUPPORT AT 6230. WE HAVE CLEAR DOUBLE ZIGZAG AND TO COMPLETE WAVE DEGREE NEXT WAVE WILL TRIGGER 6150 AND THAT WILL CONFIRM WAVE.

CHECK OUT BELOW CHART .
COMPLETE EXPLANATION IS GIVEN ON CHART.

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NIFTY ELLIOTT WAVE

PREFER-ED WAVE COUNT- WAVE 5 NEAR AN END OF IMPULSE.

CURRENT TREND- UP

CURRENT WAVE NOTE- WAVE 5 CAN BE DIAGONAL,TRUNCATED (FAIL),NOT EXTENDED BECAUSE WAVE 3 IS EXTENDED

NEXT WAVE POSSIBILITY- WAVE A

FIBONACCI LEVEL FOR NEXT WAVE- STILL DEGREE OF IMPULSE IS NOT COMPLETE ANY MOVEMENT BELOW 6150 WILL CONFIRM WAVE 5 CYCLE IS OVER AN WAVE IS IN CORRECTIVE MODE.

TREND-LINE- PARALLEL LINE IS TO WATCH OUT.

SHORT SUMMARY- DURING DAY TRADE ANY MOVEMENT BELOW 6250 WILL TRADE IN BEAR SIDE.

# ALTERNATIVE WAVE LABELING IS NOT MENTION ABOVE.

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Next Fibonacci support at 5944.

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