Nifty Time cycle Trading with Neo wave targets – Path Ahead

elliott wave nifty share market timecycle Mar 21, 2024

Trading without fear requires understanding of Price action, Time cycle, Elliott wave pattern.

Time trading – helps to identify key reversal areas and the same can be combined with Time indicators like Future line of Demarcation with Elliott wave – Neo wave technique.

Below chart of Nifty shows index movement over past few Time period and how FLD has been helping to provide targets.

Nifty daily chart with FLD:

Diametric pattern on weekly chart - As shown on weekly chart, prices have possibly completed wave (e) and we can move lower in form of wave (f). Equality of wave (f) to that of wave (b) gives downside target of …... levels. (actual levels are shown in monthly research report) We will be conservative in our approach and first see price action near 21530 levels when prices reach there and if the momentum pick up even below that level. The downside target can be seen on daily chart.

FLD intersection - As shown on Nifty daily chart, prices are now intersecting with the FLD (Future line of Demarcation) line. This is a shifted price by parameter of 29 (shown in black). An FLD line is time indicator that is phase shifted basis of half of time cycle parameter. Prices is finding support around this FLD line.

It closed for a day below it and reversed up, now break back below 21850 will confirm negative crossover thereby opening downside targets.

In a nutshell, indicators along with Neo wave technique and Time cycles are getting aligned together for trend changing. Break below 21850 to open targets for 21530. On upside 22250 is going to be major hurdle. Until then expecting sideways action within the range and once the indicators get aligned classic opportunity to trade in Options from short term perspective.

Monthly research report- Subscribe to daily equity research report annually and get monthly research free along with it. The above research is a part picked up from monthly research report. Get access here 

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