Nifty Trading – Alignment of Indicators Like Never Before!

Trading using Elliott wave – Neo wave and combining it with Hurst’s Time cycles is the best way to trade with low risk high profitable setup.

Bank Nifty is also sharply down on 8^th February post RBI Policy announcement. But the down move was evident and it is best to see charts rather than the news to trade.

Nifty has given breakdown from the 22k levels which was tested multiple times. Prices failed to sustain above it despite of RBI policy announcement.

Nifty Daily chart:

Nifty targets of 22118 has been set in November 2023 by forecasting wave (e) equality to that of wave (c) on basis of Diametric pattern guideline as per Neo wave. Prices moved precisely as expected and reversed from there.

We can see that post touching 22118 there has been multiple attempts to breach this level but there is no closing above it. Now we can see break below the important trendline support.

55 Days Time cycle – Time cycle provides confirmation that if the overall time is on buy or sell side. We can see that prices have entered into the second half of the time cycle which is usually the sell zone. Price confirmation with time is crucial.

Now that prices are giving away and Time has turned negative until 5^th March 2024 it is best to take a bearish stand as long as we do not see close back above 22k levels. On downside the immediate support is near 21200 and we will come out with clear path ahead on seeing the further price action over next few days.

Other time indicators are also aligned together which is not very often to see.

In a nutshell, we can see alignment of indicators on the sell side as long as the high near 22k remains intact and pullback can be temporary. We have been bullish all the way from Gann square of 9 low of 18838 and we turned cautious near 22118 which is playing out well!

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