Daily Trading Strategies 15/02/2017
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Daily Level
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Nifty
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R3- 8848
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Buy |
Buy above 8818 with Target-8831/8848 with Stop Loss-8808.
Note: If open price is below 8818 than order is active |
R2- 8831
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R1-8818
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Resistances
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Support
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Sell |
Sell Below 8875 with Target- 8761/8744 with Stop Loss-8885.
Note:
If open price is above 8875 than order is active
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S1- 8775
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S2- 8761
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S3- 8744
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NSE:NIFTY Till date Nifty on wave 3 on larger degree of Elliot wave Explanations:- ** If we subdivided wave into shorter degree or in 5 wave its match with Fibonacci retrenchment levels in all subdivision of wave 1. ** On wave 2 which is a corrective wave also match with Elliot wave rules and its take corrections within 50% of wave 1. ** On wave 2 subdivision are also match with corrective wave patterns. ** Now comes to Wave 3 which is need to match with Elliot wave theory where Fibonacci levels should be 161.8% of wave 1 , which is 11340 approx. ** If the wave 3 subdivided into shorter wave degree, we can see the 5th wave is forming and it has to be within 1.236-1.618% of wave , equal to wave 1 or 61.8% of wave 1+3 . ** So now comes to conclusion on 5th wave * Either 1.236- 1.618% Fibonacci levels of wave 4 ...
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