Nifty Neo wave Breakout, Open Interest profile – Are you ready!

neo wave nifty open interest Mar 29, 2023
Nifty Neo wave Breakout, Open Interest profile

Like this Article? Share it with your friends!



Elliott wave or Neo wave provides maturity of the trend and by understanding the wave personality with news or events around conviction to take the trade increases sharply.

Despite of US Banks failure and negative news around Nifty has been managing to protect its low near 16800 levels which is also important channel support. When the wave pattern is clear and Time is supportive trading takes a different level of conviction!

Nifty hourly chart:

Nifty 15 minutes chart:

Nifty Open Interest profile across expiry

Nifty hourly chart shows that prices completed wave g on downside in form of Diametric pattern as per Neo wave near 16828 on 20th March. There has been so much of negative news but index has still managed to protect the prior lows which is a healthy sign.

Nifty 15 minutes chart: Internal counts of wave b shows Diametric pattern which got completed on today’s dip. We have also mentioned on our Twitter clearly that today can be a trending day given with Time supporting and Neo wave also in sync.

It worked out precisely and prices closed up by 129 points.

Nifty Open Interest profile – Nifty open interest helps to understand where are big players positions and who is going to panic. We can see that next week expiry 6th April 2023 still has call sellers in system. If Nifty manages to further move up above 17130 then call sellers can start panicking resulting into further short covering. This is also in sync with our Elliott wave – Neo wave counts.

In a nutshell, trading can become amazing experience if one knows GPS of the market and combine them along with big players’ position understanding wave personality. For now, short term view will be positive for Gann target of 17227 as long as end point of wave g near 16980 is protected.

Options Trading with Elliott wave, Neo wave and Time cycles – Learn to trade Stocks & Options along with Open Interest profile, Volume profile, KST Time indicator, 5 clear Trade setups for Options buying in Options Masterclass scheduled on 15th and 16th April, combine this to other level of forecasting with Master of Waves (MOW) on 6th – 7th May 2023. Both this combined courses is called Become Market Wizard (BMW). Early Bird Ends on 31st March 2023 – Act now and learn to generate passive source of Income, Limited seats only – know more here