Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Simple 5-3 Elliot Wave Pattern in Nifty Future Hourly Charts we had seen that nifty is currently in making the corrective a,b,c wave with targets 4429 and 4494. I like to further zoom into 15 minute charts of Nifty futures to show how the waves are made. the upward corrective [a,b,c ] can be viewed as 5-3-5 simple elliot wave patterns as shown above with formation of negative divergence pattern. And the pattern if likely to complete today with resistance near 4450-4500 zone as explained in earlier post which also completes the invesrse head and shoulder pattern witnessed in hourly charts.
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Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Nifty week end review on daily and 90 min timeframe and Nifty Option Details
6 Replies to “Simple 5-3-5 Elliot Wave Patterns in Nifty Futures 15…”
hello,thanka for help.where this charting is available.
dear raj,anexcellent call on aries.is the trget ot 68 still intact. regds rashmi
@ EveryoneLooks ABC wave(hourly).. i.e 5-3-5(15 min) have completed(5-3-5) yesterday itself with 4439 as top. Small correction in charts that 5-3-5 ended yesterday itself with negative divergence.
Rashmi its good to book partial profit at this point of time.
thnx,raj,fr the advice.do u track educomp.wonder whts the matter wid this counter. rashmi
hello,thanka for help.where this charting is available.
dear raj,anexcellent call on aries.is the trget ot 68 still intact. regds rashmi
@ EveryoneLooks ABC wave(hourly).. i.e 5-3-5(15 min) have completed(5-3-5) yesterday itself with 4439 as top. Small correction in charts that 5-3-5 ended yesterday itself with negative divergence.
Rashmi its good to book partial profit at this point of time.
thnx,raj,fr the advice.do u track educomp.wonder whts the matter wid this counter. rashmi
No Rashmi Iam not tracking Educomp