Nifty 50 Endeksi
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NIFTY... 26000 TARGET IN 2024!

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Guys... I am sharing my analysis of Nifty over a longer time frame.

The Elliot waves are marked on the chart. Nifty is currently in the wave 3 of the primary cycle.
This primary cycle runs in smaller intermediate waves.
Wave 1 started on April 2023;
Wave 3 from November 2023;
Expecting wave 4 to end by April 2024, and we can expect wave 5 to begin from May 2024.

So, as per this analysis, we can see a red candle in April month - the wave 4 correction, which is likely to end around 21400 - 21500 levels.

Wave 5, which is likely to begin in May, is likely to last till December 2024, taking nifty to 26000 levels (approximately 26400).

In this, wave 3 is 1.23 times wave 1, and wave 5 is 1.618 times wave 1.

Hopefully we get to witness a 20 - 25% rally in Nifty this year :)

This is only my analysis & remember the market is always RIGHT!
İşlem kapandı: hedefe ulaştı
The Elliot waves perfectly worked here. I had mentioned 21400 - 21500 as the level for the ending of wave 4, which was seen after the election results.
Wave 5, which started at 21400, continued till 26000 (though I expected a slower rally).
This is the time to be cautious.
A decent correction should be seen in the coming days.
Always trade with appropriate stop-loss.
All the best guys!!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.