Elliott wave – Neo wave is GPS of the market that helps to understand the maturity of trend and if we are going to start minor to major movement much before it happens.
It is very much possible to forecast the market using simple Technical analysis methods.
Below is chart of Nifty that was tweeted and also shown in the webinar on 10th January 2024
Nifty hourly chart – Elliott wave counts Anticipated on 10th January 2024
Nifty chart Happened as on 12th January 2024
Elliott wave analysis – Above chart of Nifty shows that when majority have been guessing the direction and anticipating a reversal on downside, we have maintained our stand that the ongoing correction is opportunity to buy and prices can reverse back on upside from Lunar cycle day.
Lunar cycle - 11th January was a No moon or Amavasya and in the entire up move since the lows of 18838 on Gann level we can see every Lunar cycle there has been a low formed since the entire rise from 18838.
As shown above Nifty moved from 21625 to above 21850 in just a day’s time and that too when the price was right.
Prices are currently in wave iii of (v) and our target for 21118 remains active that has been forecasted more than a month back.
Neo wave is advanced part of Elliott wave which has more patterns like Diametric, Neutral Triangle along with more set of rules. This make Neo wave extremely objective and along with two stage confirmation technique one can enter with prudent risk reward setup.
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