Nifty Catching Tops Using Topping Cycle

elliott wave nifty time cycles Oct 21, 2021
Nifty, Time cycles

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Nifty tops can be captured by understanding simple cyclical behavior and Time concept.

So far, we have focused on catching lows or bottoms and the reason being cycle works exceptionally well during the lows. There are a few Simple Time concepts that which states why we use Time cycles to capture lows. However, if applied prudently we can catch tops as well.

Below is the chart of Nifty showing a Topping cycle:+

Nifty Hourly chart Topping Cycle

Time Cycles: Above chart clearly shows that Nifty has been topping out every 116 Hours. It is important to note that this cycle has worked on most of the occasions but apply it along with Candlestick confirmation.

We turned bearish on Nifty as soon as it broke 18400 levels which was the low of time cycle and Nifty has corrected more than 300 points from there. Many have been astonished to see such accuracy in catching a top in such a euphoric market.

Next support level for Nifty is near 18000 mark but we will turn bullish only once we see cycles turning back on upside. Until then enjoy the ride down by following trailing stop method when majority are searching for the news that is leading to the downfall but forgetting to see the time scale on the chart that carries the answer to the mystery.

By understanding the rhythm of Time one can keep it simple and trade effectively without getting deviated by looking at indicators. Price and Time are the most important element as a trader is trading only those to make money out of markets. Indicators are good to provide secondary confirmation and adding to the conviction. The two studies that are price driven and time driven are Elliott Wave – Neo wave and Time Cycles.

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