NIFTY - 5TH WAVE IS GOING TO PERFORM

Your Elliott Wave analysis suggests that NIFTY is currently completing a complex 4th wave correction, which often involves sideways or volatile moves before the impulsive 5th wave begins. Since Wave 4 tends to be unpredictable, it's crucial to monitor key support and resistance levels to confirm the upcoming 5th wave rally.

Key Observations & Expectations:
Wave 4 Complexity & Volatility:

Wave 4 corrections are often zigzags, flats, or triangles—leading to choppy price action.
Expect sharp up and down swings before NIFTY resumes its uptrend.
Wave 5 Impulse Move:

Once consolidation ends, Wave 5 should break above Wave 3’s high.
Expect higher highs, supported by strong momentum and volume.
Confirmation Levels:

Support: Recent lows from the correction (possible retests).
Resistance: Previous high (Wave 3 top).
A breakout with high volume would confirm Wave 5 initiation.
Trading Strategy:
Avoid aggressive positions in Wave 4 due to its choppy nature.
Look for a breakout above key resistance before entering long positions.
Use tight stop losses if trading within the range.

Key Takeaways:

✅ Current Phase: Wave 4 correction (complex and volatile).
✅ Next Move: Once consolidation ends, Wave 5 will be an impulsive move upward.
✅ Key Levels to Watch:

Support: Recent lows from the correction phase.
Resistance: Previous high (Wave 3 top).

Conclusion:
NIFTY is currently in a volatile phase but preparing for a strong upside move in Wave 5, which is typically the most impulsive leg. A breakout above key resistance will confirm the uptrend, and traders should position accordingly.

👉 Disclaimer: This analysis is purely for technical knowledge purposes only. Before making any trading decisions, consult your financial advisor.