Nifty Live – Nifty Bank Live with most powerful elliott wave analysis : 4th sep 2023

Nifty Bank Currently trading inside the channel and getting resisted near the top of the channel at 44650.

Nifty Bank Elliott Wave Live Chart (Morning Updates)

30 min chart :

In our EOD analysis we discussed that Currently we are in impulse wave (c) on upside.
Nifty Bank Live Chart

Nifty Bank Live 1 min chart :

moving in upward channel.. and channel support comes near 44340 confluence with golden Fibonacci level and than 50% retracement near  44240..  one should watch this level carefully if holds bounce possible.
Nifty Bank Live

Nifty Bank Live 1 min chart : Bounced from channel

As expected and discussed above Nifty bank made low 44310 near channel support and  bounced to 44479 till now. Probably moving up with w-x-y-x-z move or w-x-y move as shown in below chart.

Nifty Bank Live 1 min chart : Scalping over 100 points

Nifty Bank as expected in our morning post , following the path of elliott wave as shown and bounced till now 44535. This powerful analysis has provided a profitable move of over 100 points in scalping.

Nifty Bank Elliott wave

Nifty Elliott Wave Live Chart (Morning Updates)

30 min chart :

In our EOD analysis We discussed that Nifty doing a Complex correction for 4 the wave post All-Time high. Complex Correction are of two types one is double correction having 7 corrective waves and another is triple correction which has 11 corrective wave. Currently Nifty done complex double correction and now moving up for another wave X or for final wave 5 is can not be marked until nifty sustains above previous wave (X) top done at 19645.50

Nifty Live

Nifty Live 1 min chart : Morning update

Nifty Live 1 min chart

Nifty Live 1 min chart : Afternoon update-bounced as expected

As expected and shown elliott wave moves in above 1 min chart Nifty bounced for abc move on upside and made upside high 19493 till now

Nifty Live

Nifty Live 1 min chart : Afternoon update-scalping over 50 points

As expected in our morning post , Nifty has followed the path outlined by our Elliott Wave analysis, resulting in a bounce up to 19515. This powerful analysis has provided a profitable move of over 50 points in scalping

Nifty Elliott Wave Live

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FAQ

1. What Is Scalping in Trading?

  • Scalping is a trading strategy that involves making rapid, small trades to profit from minor price fluctuations within short timeframes, often seconds to minutes.

2. What Is Elliott Wave Analysis?

  • Elliott Wave Analysis is a technical analysis approach used to forecast future price movements by identifying recurring patterns and waves in financial markets, based on investor psychology.

3. How Do Chart Patterns Work?

  • Chart patterns are visual representations of price movements on a trading chart. Traders use them to identify potential trend reversals or continuations, such as head and shoulders, triangles, and flags.

4. What Are Support and Resistance Levels?

  • Support levels are price levels where a financial asset tends to find buying interest and bounce higher. Resistance levels are where it faces selling pressure and tends to reverse lower.

5. What Are Key Levels in Trading?

6. How Can I Use These Concepts in My Trading?

  • Understanding these terms can help you make informed trading decisions. For example, Elliott Wave can aid in predicting market direction, chart patterns can identify potential entry or exit points, and support/resistance levels can help set stop-loss and take-profit orders.

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