Nifty Elliott Wave With KST Indicator – Is The Trend About To Reverse?

elliott wave kst nifty Apr 12, 2023
Nifty Elliott Wave With KST Indicator – Is the Trend About to Reverse?

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Elliott wave – Neo wave is GPS of market that helps us to understand maturity of trend and to catch reversal exactly when majority are on opposite side.

Nifty has reached the previous wave x area which usually acts as strong price action reversal area. This combine with momentum indicator “KST” can act as confirmation technique.

Nifty hourly chart:

As shown in above chart, prices are just breaking out above the downward sloping channel but momentum is slowing down.

KST indicator is summation of ROCs and it is derived out of Time cycle technique. So we call it as a Time indicator. We can see momentum is slowing but that does mean prices should reverse. It indicates that for trading selling put options can be better strategy rather than buying calls.

Neo wave – As per Neo wave we are looking at current rise as wave b of Irregular Flat correction or a Triangle. Within this wave b is forming double corrective pattern and prices are moving in smaller channel. Low near 17600 where wave b is marked is now important support. Breach below this level will suggest that wave b (red) is over and wave c is starting on downside. However, for now we are still in buy on dips mode as long as support stays intact.

In a nutshell, Trading Options using Neo wave along with KST indicator can be one of the lethal combination that can act as forecasting and signalling system with complete risk management and trading system.

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