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Nifty 50: Elliott Wave Near-To Long-Term Trend Perspective

ByBishnu Prasad Basyal
Published 10/11/2017, 06:36 AM
Updated 07/09/2023, 06:32 AM

Nifty 50's near-term (1-2 months): Rising in a Minuette Degree Wave (v) of Minute Degree Wave ((iii)) - Target 10350-10600. Nifty is still rising in Minute Degree Wave ((iii)), which is expected to finish near 10350-10600. Fibonacci extension of 3.618 calculates around 10345 and If we add the length of wave (iv) in top of Wave (iii), then it calculates 10600. Thus, Nifty is expected to top anywhere between these two points. The Minute Degree Wave ((iv)) can retrace up to 9700 once again after finishing Minute Degree Wave ((iii)) near 10350-10600.
4-Hour Nifty 50

Nifty Short Term (6-8 months): Targeting above 11000 till July 2018: short-term trend in Nifty remains up, if we consider the period of 6-8 months. First it can move toward 10350-10600 within next 1-2 months and then retrace towards 9700-9500 for the next 2-3 months and again start rising toward 11000-11600 till July 2018. A significant top as intermediate degree wave (3), which started since December 2011 can conclude near 11000-11600 till July 2018. Thus, for short-term trader, every dip toward 9700-9500 is buying opportunity till Mid 2018.
Daily Nifty 50

Nifty Long Term (3-5 years): Targeting above 13000-15000 till end of year 2022: The long-term trend in Nifty remains positive, which targets 13000-15000 till the end of year 2022. Moreover, if we take little longer time frame then, it may reach 19000 till the end of year 2027-2028. Thus, for long-term trader, there is huge buying opportunity for the next 10 years on every significant drop in the index.
Weekly Nifty 50

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Latest comments

what do u think in which time frame mkt will bottom out and i am beginner in eliott so i want to knw what kind of bull run will be seen in nifty in coming years.
please find the link for next probable trend. . https://invst.ly/63gvo
Nifty 50- near-term (1-2 months): Topping in a Minuette Degree Wave (v) of Minute Degree Wave ((iii)) near 10600. Nifty is still rising in Minute Degree Wave ((iii)), which is expected to finish near 10600 till the end of November 2017. After finishing it near 10600, Minute Degree Wave ((iv)) can retrace minimum towards 9700. But, the ideal target for Minute Degree Wave ((iv)) is placed around 9550, which is 38.2% retracement of entire Minute Degree Wave ((iii)). Thus, for the near term a significant retracement towards 9550 is expected in the form of Minute Degree Wave ((iv)) which may last 2 months from November end.. . https://invst.ly/5x4pk
10600 is still not on board. Do you want to stretch target to mid December and then a corrective wave towards 9550-9200 ?
 please find the link for next probable trend. . https://invst.ly/63gvo
What do you expect now Bishnu? 10554 still on cards? Or we should start shorting?
Sir! Your colour photo , please.
Sir what target can we expect in nifty in next week I am short term trader Please help me to take wise decision about my current positions
Excellent analysis! Can you or anyone explain, compared to what number we are taking fib extension of 3.614 to get 10345? and when we say 'if we add the 4th wave, are we talking about the distance between 3rd and 4th wave to get the total 10600?
Thank you Dixit for appreciating my analysis. The first level you mentioned about 3.618 extension of wave (i) calculates around 10378 not 10345. And when we add length of wave (iv) on top of wave (iii) then it calculates around 10587. But, now i am calculating in a different way. Wave (v) can top near 10544 as 0.382 extension of wave (i) through wave (iii). Sorry, i gave wrong calculation earlier. . Please find below analysis for expected trend ahead for Minute Degree wave ((iv)). . . https://invst.ly/5otak
Well I found this analysis horrible.... I can't see nifty beyond 350 within next 2 months....but I can see it lowering below 9700 in near term.... Better to sell off the greens and hold reds....keeping cash in hand is being invested at this point...
I think now you are convinced with my analysis. It get past 10350 mark as i said earlier. Now, there is time sit in cash or short selling. Hope you don't have complain now?????
Sir what trade should be taken on nifty tomorrow or in coming days Will it bounce back from 10200 or further correction is due and from where it will starts it's upward movement for next target of 11000
indices will move up or down, as you also know that they won't stick around at constant level. they will move up and up and perhaps then down and nobody can predict from which level they will move to next target of 11k. every one wants to maximize his / her profits and therefore seeks entry at the lowest point, but understand that pinpointing the bottom is just not possible. so, one in this scenario, keep a view, say of 6 to 8 months, to see nifty hitting 11k. make partial entry at each dip that you see from here. for example, if your bucket of investment is 100, pump in 15 when you see the first dip, and then pump in another 15 when you see the second dip and so on. you may think it is better to put 30 at the second dip instead of going through two step-downs. It may be a possibility that index rises after the first dip and you may miss to enter at that window. chasing the bottom is nonsensical in stock markets. keep a strategy and keep a long term view. Also have the patience. haven't you heard someone saying that if you invested 1000 in 1980, it would have become half a million by now. patience is the key and of course keep a term in your radar. you may link your life objectives to that term. for example you want 40x at the time of child going to higher education.
thanks for the valuable info
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