Nifty 50 advanced for wave 4. Initially, I anticipated it to be a Wave 4 mini, but its upward movement was an impulsive stretch with 5 internal waves, indicating that this surpasses wave 4. It might be a higher degree wave a of a wave 4 ABC pattern forming.
There are many ways to trade, price action is important. Price action course on Charts-Stocks and Kiss Bot indicator suggested upmove. We buy when price is above Kiss Bot Band. And we sell when price is below Kiss Bot Band.
Looking at current structure, looks like wave A is done of this ABC pattern, a worse could be double correction with WXY but I am not keen on that since sell off can happen any time and this time we will go beyond 22000 levels.
One interesting thing that I found is a correlation of Nifty and Crypto, since Nifty is all fluff with FII leading the market movement, same goes with crypto and Bitcoin therefore is a good indicator for market sentiment.
Here is the chart for Nifty 50 for 7th March 2025
Some key points:-
22542 is a POC of previous entire swing - a good resistance zone for now
Wave 4 should be in ABC format, 5-3-5 pattern
If this falls tomorrow in wave B then there could be one more spike for wave C
If you inquire with Chat GPT about trading this, it will typically advise you to steer clear of Wave 4 and Wave B, as they tend to be complex and option premiums are eroded by theta decay
Comentarios