Hello traders and investors!
Today we will talk about NIFTY 50, its price action from technical point of view and wave structure from Elliott Wave perspective.
Well, most of stocks across the globe are an impulsive rise since March 2020 lows, so as NIFTY50 which we see it trading in an extended wave (5) of 3 that can be approaching the end soon, ideally during the summer. So, shorter-term there's room for more upside, while it's above channel support line and 15000 level, but we have to be aware of a higher degree wave 4 correction that can occur later this year.
Trade well!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we will talk about NIFTY 50, its price action from technical point of view and wave structure from Elliott Wave perspective.
Well, most of stocks across the globe are an impulsive rise since March 2020 lows, so as NIFTY50 which we see it trading in an extended wave (5) of 3 that can be approaching the end soon, ideally during the summer. So, shorter-term there's room for more upside, while it's above channel support line and 15000 level, but we have to be aware of a higher degree wave 4 correction that can occur later this year.
Trade well!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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