Nifty Trade Opportunity: Preparing for a Powerful Impulsive Move

After forming a continuous bullish sequence, Nifty started a 3-wave corrective move from its high of 25,333.65. It completed the first leg of the correction, wave (W) blue, at the low of 24,753.15. Then, Nifty made a pullback bounce, reaching 25,130.5 for the second wave, (X) blue. Now, we are in the making of the third wave, (Y) blue, which is expected to complete around the 24,554.65 - 24,205.40 range.

This presents an exciting opportunity to position our trades. After this correction, we anticipate a strong impulsive move as part of wave ((iv)) black.

Why are we confident about the next up move ?

The high of 25,333.65 from 24,099.70 was part of wave ((iii)) black. Following the 3-wave corrective structure, the next move will likely be wave ((v)) black, which historically offers significant upside potential.

We are expecting a 1,000-point move from our planned entry level with a 350-point stop loss, which provides an excellent risk-reward ratio. The clear structure of this Elliott Wave setup gives us a high probability of success.

Now, all that's left is to fasten your seatbelt and wait for our entry level to be triggered. Once the setup confirms, be ready to hit the Buy button!

Disclaimer:
We are not SEBI-registered advisors. This content is for educational purposes only. Before trading, you should assess your risk tolerance and consult a qualified financial advisor. It’s important to note that less than 3% of traders make consistent profits in the stock market. Make sure you have the discipline, knowledge, and strategy to place yourself among this elite group of traders.

Happy Trading! 🤘🏾🙏🏽