Nifty Elliott Wave on 15 Minutes Chart

Nifty moved sharply lower over past few days. We derived a path for Nifty and posted it on 10^th February 2025. Below is the chart which shows a detailed analysis of Nifty.

Elliott wave acts like the GPS of the market and helps to derive possible path ahead. Elliott wave is a method that is used to identify price pattern and predict market movements.

Do note below chart is from Elliott wave perspective and not Neo wave.

Nifty 15 minutes chart, Anticipated

Nifty 15 Mins chart: Happened as on 11^th January 2025

Anticipated – Nifty is moving in wave b(red) which is still unfolding on the downside. A break below 23310 levels can suggest the index to retrace more than 61.8% of wave a (red) which is near 23180 levels.

Happened - We had mentioned that if 23310 is breached we can see a move to 23180 levels, prices broke below 23310 and achieved downside target of 23180 and made a low of 22986 levels!

Nifty has failed to give any positive price action and has continued to move lower. Prices even broke 61.8% support levels and is now at important juncture. We are looking at the current fall as wave b of ongoing Flat pattern. In a flat pattern wave b can retrace anywhere between 61.8% to 138.2% of wave a. On upside positive price action above 23250 will be first sign of reversal for start of wave c but as long as 23250 is intact one can use pullback to sell.

In a nutshell, Nifty is moving down in form of wave b and one leg is pending on upside post its completion. It is best to look at short term price action for any positive reversal until then sell on rise.

TRISHUL Membership (Options Mantra + Elliott wave + Neo wave) – Learn the science of trading probability with Options combining with Neo wave, Ichimoku Cloud, Fibonacci trading system in upcoming live event on 22^nd – 23^rd February 2025. Limited seats only, Fill below form for more details:

: