Possible Elliot Wave Analysis - Nifty
Nifty could most probably be forming an expanded flat as part of wave 4 of 3(3) in the weekly charts(very similar to S&P 500). Once wave 4 is over, the minimum projected level to complete major wave 3 would be 13,000+ levels. For long term investors it would be ideal to pick up quality stocks in their portfolios around these levels. As per my analysis Nifty has a long way to go before forming a major top in the long term charts.
Please consult your financial advisers before taking any decisions.
Good Luck!!!
Please consult your financial advisers before taking any decisions.
Good Luck!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.