- Tomorrow is expiry day, and what the markets will do is a million dollar question?
- Now trying to anticipate expiry day move is a difficult endeavor, and requires deep understanding of option data, and many other market factors.
- Here only EWP is used to anticipate the price action, this is in no way a recommendation to trade, but just an experiment.
- The chart above suggests that the price action from last pivot high is of corrective nature, and taking the shape of a DZZ.
- The last leg of the second ZZ, is showing clear 5 wave move, with market consolidating in wave 4, possibly a triangle.
- Once this triangle is resolved we will most likely get our wave 5 down. The funny part is if this triangle resolves in the upward direction, our view is invalidated.
Wednesday, June 26, 2013
Nifty - Elliott Wave Update
Tags
# Elliott Wave
# Indices
About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...
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Elliott Wave,
Indices,
Nifty,
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