Nifty Neo Wave Count With Ichimoku Cloud

ichimoku cloud neo wave nifty May 18, 2022
Trading, Nifty, Stock Market

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Nifty has been moving precisely as per neo wave count. Checkout this example of how we applied Ichimoku cloud with price movement to identify the wave counts and predict the price movement.

We published the following research on 18th May 2022 (pre-market) in the "The Financial Waves Short Term Update" stating why it is time to sell

Nifty 60 mins chart: (Anticipated)

Nifty 60 mins chart: (Happened)

Waves analysis:

As shown on the above hourly chart, prices which were trading well within the downward sloping channel have given break on the upside. Prices have also entered inside the Ichimoku cloud which suggest that we can witness sideways movement near this level. The entire fall has been completed in form of a diametric pattern in which wave g was completed near the lows of 15730 levels. we can expect prices to retrace 38.2% if wave c which is near 16300-16400 levels and also near the Ichimoku cloud.

In a nutshell, Nifty after 3 trading session have managed to give close above 16000 levels. For short term trend, we can witness a pullback towards 16300-16400 which is 32.8% of retracement of wave f. However, the overall trend still looks weak.


Nifty moved precisely as we expected. After completion of the diametric pattern, we saw a sharp reversal on the upside. Nifty moved up as expected and moved closer towards our mentioned levels of 16400 levels. For now, it’s interesting to see if pullback can continue on the upside or selling can be seen near this level.

This clearly shows that by combining price action and indicators one easily identify wave patterns and the same can be seen in the research published on 18th May 2022.

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