Nifty Targets Done! Will it Reverse?

Nifty has hit lifetime high levels on closing basis at 26216 levels, is it time to book profits?

Advanced Elliott wave – Neo wave acts like the GPS of market and provides the possible path ahead. We have turned super bullish near Gann levels of 24728 and from there the journey has been just one sided.

Below are the charts of Nifty showing the possible path from here on!

Nifty hourly chart:

Nifty 15 minutes chart:

Elliott wave analysis:

Nifty has been moving up sharply since the election day low made on 4^th June 2024. We turned super bullish highlighting the mother of bull markets to continue the rise on 5^th June when prices were only near 22428 levels. From there we are up by 4000 points.

The entire rise is in form of Diametric pattern which is defined in Neo wave as 7 legged structure. This pattern consists of a-b-c-d-e-f-g and current we are in wave g (blue) as can be seen on hourly chart.

Over short term the internal wave counts of wave g (blue) is shown on 15 minutes chart. We can see that currently wave (c) is ongoing and prices are only in wave e of (c).

The probable path is as shown and the sharp rise from the Gann levels of 25361 cannot be more precise.

 Also on twitter we mentioned the following on 26^th September combining time with Neo wave methods –

Happened: Nifty broke above 26030 levels and immediately touched the target of 26100. Later prices formed a low at 2.30pm near 26100 and immediately rallied by 150 points before closing in final hour of expiry!

The above clearly shows how precisely index moves with respect to the time and Elliott wave patterns!

In a nutshell, Nifty trend is positive. Short term dip possible in form of wave f but that should be used as buying opportunity for a move to 26450 levels eventually which we had forecasted a few months before monthly research report under Astra Membership.

Trishul – It is possible to forecast market and each and every wave like shown above using the science of Elliott wave, Neo wave and combining it with Options strategy. I have proved it time and again by winning on CNBC Awaaz for more than 30 times and our Brahmastra (Mentorship) participants has witnessed it live. Be a part of Trishul Membership with live session on Elliott wave, Neo wave on 5^th – 6^th October 2024. Limited seats only and the early bird offer ends in 2 days! Fill below form for more details: