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MJ
@Tradengineer_MJ
Elliott Wave adventurer ■ Not SEBI registered ■ Posts for education only, no buy/sell/trade recommendations
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Sep 27, 2022
•
5 tweets
•
6 min read
I dare to say that
#Nifty50
and
#BankNifty
have seeen their temporary bottoms (end of Wave 4) and will kick off Wave 5 from tomorrow (28.09.22).
Trade set-up:
Initiate long
Current/Targets (minimum)/SL/RRR:
Nifty: 17007/18035/16710/1:3
BankNifty: 38359/41436/37250/1:3
#Nifty50
This is what we are looking at:
Wave 4 -> Subwave C -> Subwave 5 -> Subwave 5
End of corrective 4th wave (bearish) is very very near. Anything near and below 16825 is strong buy, with a SL of 16700.
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Sep 27, 2022
•
4 tweets
•
4 min read
Below 16977, Wave 5 can be considered as completed as it can be subjected to failure.
Ideally it should reach 16713 but it may or may not.
#Nifty50
touched 16942 and is currently at 17014. Expect reversal at point of time now.
#Nifty
#StockMarketIndia
#StockMarket
#Trading
As long as
#Nifty50
fails to close above 17180 on hourly candle, we are still into subwave (c) of wave 4 and we stand a chance of seeing 16711.
On the other hand, close above 17180 on hourly basis will take it to 17383-17655 as a part of subwave (1) of next impulse wave 5.
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Sep 25, 2022
•
32 tweets
•
22 min read
Thread (Long ⚠️):
Simple explanation about
#ElliottWave
principles and targets for each wave.
Also, analysis of major indices
#SPX
,
#DowJones
,
#Nasdaq
,
#SGXNifty
,
#Nifty50
and
#BankNifty
.
[1/n]
#ElliottWave
The prices move in impulse phase followed by corrective phase.
Impulse phase has total 5 waves - 1,2,3,4,5 - out of which 1,3,5 move in the direction of trend and 2,4 move in counter direction of trend.
Wave 2 corrects Wave 1.
Wave 4 corrects Wave 3.
[2/n]