27-Oct-2017 Nifty View

Nifty didn't move as per my previous analysis.

Now some more height possible till 10450 +/-

First probability - If current wave is 5th, it could target 10468 ( 61.8% of 0-3 wave from 9688-10243).

Second Possibility -  If move from 10125 is in the form of  5 subwaves :-
5.1 = 10238
5.2 = 10182
5.3 = 10333
5.4 = 10241
5.5 = 10447(100% of 0-3 wave as 5.3 is a normal wave)


So as of now 10450 looks possibility on higher side and if come, will start looking to sell near 10400+.

26-Oct-2017 Nifty View

Looks like 1-5 is done from 9688 -10333.

0-1 = 9688-9854
1-2 = 9854-9775
3.1 = 9775-9946
3.2 = 9946-9882
3.3 = 9882-10067
3.4 = 10067-9956
3.5 = 9956-10243(in 5 subwaves)
3-4 = 10243-10125
4-5 = 10125-10333(again in 5 subwaves) -38.2%

Seems like correction started,  'A' wave could be in the form of 1-5 or a-b-c.

If it's in 5 wave -
0-1 = 10333-10241
1-2 = 10241-10313 (78.6% of wave 1)
2-3 =10313 - 10xx(10164 if it's 161.8% of wave 1 OR 10130 if 200%)
We have a gap on 25/10/17, probably this will be filled by wave 'A'

20-Oct-2017 Nifty View

Correction is started(or maybe its done) in Nifty for the rise from 9688 - 10252. This raise can be considered as wave 1(in next higher level).

23.6%(10121) retracement is already done so one possibility is to move up higher for all time high.  Another possibility, more fall is pending and nifty may goes till 38.2%(10039). If it breaks 10120, possibly it will fill the gap and below that 38.2% is the target. This fall can be considered as wave 2.

If Nifty bounce from current level(10125) and break 10238, it could be a start of wave 3.

But to me it looks like sell on rise (till 10238 is protected on closing basis) and then 3rd wave will start (maybe be from 38.2-61.8% , fall up to 9900 is another possibility )

Can enter short below 10175(considering bounce is 4th wave from current level of corrective wave  'c'). 10176-10238 no trading zone. If nifty moves up but fail to cross 10238 on closing basis, short can be initiated.

17-Oct-2017 View

Looks like a 5 done at 10243 and flat correction is going on with 'a' done at 10175; 'b' completed at 10240 and 'c' is in progress and likely to take support at 10160.

After this it may attempt for new height till diwali.

My first blog

This is my first blog. I have been trading in nifty since last couple of years; more precisely I login into my trading account few time every quarter and blowing up all my hard earned money.

Tried learning few things many times in past and tried hard to stick to trading plans/stop-losses,,,,  but not able to do so.

Repeating the same things again now. Is there is anything new this time??? I guess yes, trying to learn Elliot Waves, some patience and will post my understanding here on this my blogspot (journal kind of stuff for my personal review) .

Will try not to be an emotional fool or greedy this time and stick to the numbers only.

As per my understanding  wave counts are as-

1=9854 (started from 9688, height =166 points)
2=9775
3=10067 (9775+269(161.8% of 1st ))   0-3=421
4=9956
5=9956+260(61.8% of 0-3 wave height)=10216 ???

Since 5th already crossed 38.2% of 0-3 wave, next target is 61.8% which comes to 10216.
3rd wave is already an extended wave(by 22 points) as per my understanding, so 5th should target 10216 only or else extended 5 can go upto 10377(100% of 0-3 wave length).

Another view -

In 5 min chart, first wave started from 9956
0=9956
1=10037
2=10007
3=10168(200% of wave 1)
4=10156(a flat correction, less than 23.6%)
5=10225(61.8% of 0-3 wave)