HIGH PROBABILITY OF TRADING SET-UP: NIFTY

Once again I am bringing you a detailed study based on Elliot wave analysis and a very high probability of trading set up of Nifty. This type of article will give you an opportunity to take a low-risk trade well in advance with the greatest probability of success.
Take a look at the pictures given below which is self-explanatory.

The pattern which had been occurred after getting Dynamic support and 50% Fibonacci ratio seems like a running flat pattern. This pattern is evident after two sets of ABC correction and such type of running correction implies a strong continuation of the trend that is down trend.

Above picture gives a clear idea about pattern interpretation, see the flat structure which indicates trend continuations. Means, when this flat structure will end the price reversal is highly expected. Look at the next graph which is showing the hindrance that may push back the price or hold the price in sideways.

 The given isolated area can be a determining point of further price action. The sharp rejection of price is very much anticipated and that will indicate a change in trend and Nifty will remain bearish for few upcoming weeks and the other possibilities are small or flat correction can also be evident near this sensitive zone.

There is always right choice to form an opinion of market position by interpretation of the facts at hand. But be very cautious while expecting the market to fulfill our opinion. Don’t stick to an opinion or decision long after the market has invalidated the study.