Nifty 50 elliot waves
Nifty completed its impulsive wave on 18th Aug and now is in corrective ABC wave.
Expected targets are 0.5, 0.618 and 0.786
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For further analysis need to see reaction at 16150. If breaks below, corrective cycle will continue and retrace to 1.618 levels. Trade accordingly.
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No trade should be open ended. Always use stoploss and trail your profits.
Never risk more than 5% of capital in single trade
Expected targets are 0.5, 0.618 and 0.786
.
.
For further analysis need to see reaction at 16150. If breaks below, corrective cycle will continue and retrace to 1.618 levels. Trade accordingly.
.
.
No trade should be open ended. Always use stoploss and trail your profits.
Never risk more than 5% of capital in single trade
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