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NSE 3MINDIA: Elliott wave Projection

Posted: 08 Jun 2022 03:34 AM PDT

Unlocked: Nifty FUT Trade Setup For Premium Subscribers

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Timeframe: Daily

3M India has accomplished Wave 5 of wave C. Ending point of correction is the starting point of impulsive structure. Elliott wave principle believes that if prices are bullish, it has to confirm their move by breaking the lower-degree substructure.

If the price breaks out the 21580, traders can expect the following targets: 23518 – 25020- 26528.

Price is facing the following confluence zones:

If the price fails to break 21580, It can fall to 20242 – 19440 – 18604 below. Bull traders can buy after a pullback to avoid fakeout & maintain the risk-reward ratio.

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USDINR’s Trade Setup for Premium Subscribers

Posted: 06 Jun 2022 10:08 PM PDT

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Nifty FUT Trade Setup For Premium Subscribers

Posted: 06 Jun 2022 09:38 PM PDT

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Is Nifty Going below 15800?

Posted: 06 Jun 2022 08:30 PM PDT

Timeframe: Daily
Sellers are aggressive when price inters in the overbought zone. Price hasn’t made an excess on the upper band of the parallel channel. After entering the parallel channel and making a higher low, nifty has shown bullish momentum. It has made a recent high of 16793 and faced resistance from 200 EMA with a big bearish belt candle.

16860 is the key level for bull traders. If the price breaks this level, it can go up to the control line at 17100 and above.
Rejection from the pivot level indicates extreme bearishness, and it will drive nifty below 15910.

Timeframe: 4H
Nifty has completed wave A of triple three combination W-X-Y-X-Z. 16860 is pivot and flip-flop level for us. If the price breaks it, nifty can move up to 17100-172010. if it starts marching in an upward direction, trade can use a trail stop loss.

However, 17400 is a strong resistance.If bulls fail to break 16860, they will not even reach 17200
After the accomplishment of wave B, the price will fall for impulsive wave C of correction.
Traders can trade wave C for following taregts: 16250 – 16000 – 15800

If bulls have to change the trend, they must break wave b at 17400. Bullish move is only possible above 17400.

I will upload futher information soon.

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