Elliott Wave Analysis of BANKNIFTY spot

#21
Update as of 23-jan close:

We are on the right track, per the waveforms. SL (read disclaimer first!!!) can stay above 27790 closing or can be lowered per MM rules.

Updated counts below:

1548267854965.png


Disclaimer:
I am not a certified financial analyst. All that i wrote above is only for educational purpose (education pertaining to the Elliott Wave principle). No one should take the above as anything more than an educational post. I am not responsible for any profits or loss arising out of a position taken based on the above.
 
#22
Update as of 25-jan close:

We are on the right track, per the waveforms. SL (read disclaimer first!!!) can stay above 27790 closing or can be lowered per MM rules.

Updated counts below:

Slightly zommed outr version (hourly):
1548521230143.png


15-minute version:
1548521281010.png


5-minute version:
1548521355029.png

Disclaimer:
I am not a certified financial analyst. All that i wrote above is only for educational purpose (education pertaining to the Elliott Wave principle). No one should take the above as anything more than an educational post. I am not responsible for any profits or loss arising out of a position taken based on the above.
 
#26
Update as of 30-jan closing:

A clearer version of our count has emerged. We are on right track. Following is the updated count, as a reminder, we have been short (read disclaimer first!!!) since 27745.

1548874107858.png


Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of BANKNIFTY for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING BUT NOT LIMITED TO, FINANCIAL) INCURRED BY ANYONE.
 
#27
Which Software is the best for Elliot Wave analysis.
1. Advanced Get
2. MT Predictor
3. Market Delta etc

If you have any software from the above please share your experience.

Thanks
 
#28
Which Software is the best for Elliot Wave analysis.
1. Advanced Get
2. MT Predictor
3. Market Delta etc

If you have any software from the above please share your experience.

Thanks
I think you should have to try Advanced Get....it's costly but you will get so many unique features and also user friendly.
 
#29
Update as of 26-jul:

After trying the above analysis, we had stopped posting here (however, continued our nifty thread). Now that banknifty picture has become clearer, resuming the posting!

The big picture:
1564241746789.png


What can we trade?
1564243614280.png


It's better to shift to lower timeframes and trade one wave at a time rather than trying to catch a very big wave. Per this thinking, we (read the disclaimer first!!!) are waiting for completion of wave-4 (~29444 levels) to go short for a target of below 28650.

Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
 
#30
Update as of 31-jul-2019 closing:

We initiated short with sl between 29444-29607, spot did go below 28865, as anticipated. We believe there is one more (read the disclaimer first!!!) down move pending below 28550, towards 28300. We hedged the position by buying 28800ce-1-aug (i.e. tomorrow!) at ~150 levels. So, profit of 29450-150-28800=500 points locked in until tomorrow closing!

1564597625089.png


Zoomed in last portion (wave-4 presumed):
1564597464141.png


Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
 

Similar threads