Nifty 50 IndexLong
Science Backed by Data[Nifty Series]: Nifty target 10355-8thJun
Updated
Hi Friends,
Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels.
Nifty Second waveform is in progress and wave 5 looks to be starting on it. Today's Nifty retracement is beautifully mapped on 15min Chart for your consumption.
Time in Bars - Wave - Coordinates - Actual Length of Wave
wave 0 9843.8
44 wave 1 10156.65 312.85
21 wave 2 9958.35 198.3
39 wave 3 10322 363.65
20 wave 4 10161.85 160.15
? wave 5 10474.7 312.85
Wave 5 target has various ways for calculations. Some of the most popular 5 ways to calculate 5th wave of Elliot Wave are used in below table for your reference.
Wave 5 Targets
Calculated Time for reaching target is 10:45 AM for 10June20
Now time for some Learning. 3 Most Important rules of Elliot wave are
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1 (Mostly overlooked).
Even if one of the above rule is invalidated, you should not assume wave's to be correct.
Let me know with a like if you enjoyed reading the Analysis. This will encourage me to work harder for you.
Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels.
Nifty Second waveform is in progress and wave 5 looks to be starting on it. Today's Nifty retracement is beautifully mapped on 15min Chart for your consumption.Time in Bars - Wave - Coordinates - Actual Length of Wave
wave 0 9843.8
44 wave 1 10156.65 312.85
21 wave 2 9958.35 198.3
39 wave 3 10322 363.65
20 wave 4 10161.85 160.15
? wave 5 10474.7 312.85
Wave 5 target has various ways for calculations. Some of the most popular 5 ways to calculate 5th wave of Elliot Wave are used in below table for your reference.
Wave 5 Targets
- 61.8% of wave1-3 --10264.0
- 61.8% of wave1 --10355.2 (Golden ratio) We are picking this as Target.
- 161.8% of wave 4 --10421.0
- Equal to Wave 1 --10474.7
- 123.6% of wave 1 --10548.5
Calculated Time for reaching target is 10:45 AM for 10June20
Now time for some Learning. 3 Most Important rules of Elliot wave are
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1 (Mostly overlooked).
Even if one of the above rule is invalidated, you should not assume wave's to be correct.
Let me know with a like if you enjoyed reading the Analysis. This will encourage me to work harder for you.
Note
Our June17-19 Target 10616 for Nifty is published in Other Analysis here. It achieved first target today.Note
First Target given for wave 5- 10264. We ideally want to close in on 10355 target.
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