Nifty Path Ahead: What Neo Wave & 55-Day Time Cycle Signal Next!

Nifty advanced Elliott wave – Neo wave pattern provides strong forecasting ability right from short to long term forecasting.

It is important to identify the pattern to trade profitably using good risk reward setup.

Nifty Daily chart with 55 Days Time cycle

Nifty Hourly Chart

On the chart above, we are analysing the Nifty on both the Daily and Hourly timeframes using detailed Neo Wave counts.

• Nifty completed its wave (a) on the upside near the 24600
• Post which the current move is ongoing as wave (b) in the form of Flat pattern (3-3-5) which is expected to complete near 23380- 23100 zone.
• The ongoing internal decline within wave c appears to be unfolding as wave iii of (iii), supported by the impulsive price structure.
• The Index is also trading within steeper channel pattern and is currently witnessing rejection from the upper part of the  

Fibonacci Retracement

• Prices are currently trading near 50% of the Fibonacci retracement
• Any faster retracement above the 23600 will mark an end to wave iii on the downside.
• Any break below the 50% retracement zone will drag prices lower towards the 23100 – 23150 level i.e., Gap support as well as 8% retracement of the zone (Also known as the Golden ratio).

Time cycle zone

• The index is currently approaching the 55 Day Time cycle zone which begins from 18^th May 2026 with main cycle due by 27^th May 2026.
• A short-term low is expected to form near the same. Next few days are crucial to watch for!

Key Levels to Watch Ahead

• Nifty needs to give 15 mins close above 23550 for a short-term pullback to 23640-23720 levels.
• Unless we see that one should use pullbacks to sell with next important support lying near 23150 – 23100

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