Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Simple 5-3 Elliot Wave Pattern in Nifty Future Hourly Charts

16 sec read


 

Chart shows the Simply Elliot Wave pattern in Nifty Future hourly charts with 5-3 Wave pattern.

It is also inferred that a formation of inverse head and shoulders pattern in hourly charts with 
formation of head near 4157 levels and shoulders around 4220 levels offering a next level of targets
at 4429(50% retracement) and 4494(61.8% retracement) as the neckline breaks.

Nifty future is expected to face strong resitance near 4500 zone in coming days

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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