Nifty Crashed, What is Next? Is it Russia Ukraine War or Elliott Wave pattern!

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Nifty closed down by more than 800 points in single session one if the biggest decline seen since March 2020. Everyone is attributing the reason of collapse to Russia – Ukraine war. But for a trader it is important to focus on charts and see if this was predictable.

Below chart of Nifty along with the path was discussed during the Exclusive revision session of Mentorship which we conduct for all Mentees:

Nifty chart as on 3rd February 2022

Nifty hourly chart as on 3rd Feb 2022

Happened as on 24th February 2022: Post Russia Ukraine war

Elliott wave analysis: Now look at the above charts of Nifty which was discussed during the exclusive revision session with Mentees on the basis of Time cycles and Elliott wave / Neo wave pattern. We had discussed the path that markets can follow over the period of few weeks.

It is astonishing to see very similar path by Nifty during the period and everyone is attributing to this fall as the reason of Russia Ukraine war. But if that is the case the path was already been discussed weeks before when there was no such conflict news.

Thrilled to see that it is the market that is in the driving seat or the Events is the reason for markets collapse.

Events will not help in taking any trading or investment decision. It is the Elliott wave path and Time cycles that helps in taking trading decisions. We have been able to warn our Mentees and subscribers weeks earlier who are sitting either on cash or participating by shorting the markets.

In a nutshell, charts give us more information than any news and if one understands the Elliott wave path and Time cycle they will be thrilled.

We had live trading session today again for Mentees and markets behaved precisely as we discussed by shorting below 17450 giving nearly 250 points from there. Also we had given Nifty sell calls to our advisory clients and it worked out superb.

To know what is next from here do not focus on the news channels but see the charts and we will mention a clear path in our daily morning equity research report “The Financial Waves short term update”.

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