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  • Writer's pictureEkat

Nifty 50 Share Rate | Nifty 50 Stock Price today for 26th October 2023

Updated: Oct 26, 2023

Previous Post Snapshot: We were anticipating sharp move down towards 19200 after pull back, this was immediate and we updated the charts during trading hours. At Charts Stocks, we try to keep you updated even during market hours making it one of the first FREE charting and Analytics services offered in India. Here is the snapshot for Nifty50 Share Rate for tomorrow, we are expecting Nifty 50 Share price to move up from here to complete wave 4.

A minor pull back upside to form wave 4 is unfolding with Nifty50, but the market remains sell on rise.
Nifty 50 analysis for October 26th 2023

Wave 4 should be retraced to 38.2% - this gives us an upside target of 19400 levels. However, looking at the chart, we will trade in 3 step format with ABC into play. I will ride the 5 waves to form internal wave A of this ABC pattern that is unfolding which should finish very quickly. Today we can see wave 1 done, wave 2 pull back done and now we can expect wave 3. Bitcoin chart is also moving up and Dow Jones had a healthy bounce yesterday (Note: at the time of writing this article US markets are not open) I will keep an invalidation level / stop loss at the previous swing Low of 19074. Play it safe, and lets win this ride. Happy trading! Updated: The 5 waves from wave 4 to 5 unfolding with a gap down. Should go for strong reversal. Buy once you see a green Heikianshi Candle.

Updated 10:55 AM: Strong possibility of reversal from here for 19200 levels initially (200 points) the green level of 18800 is a good support area coming from Weekly Box marked in green. Looking for some bounces here over next few days. We should go up in ABC format, where wave A will have 5 internal waves. I will try to ride these 5 waves once I get confirmation. Many of you are asking me how to trade. I use Heikinashi Candles for perfect entry setup even on smaller time frames. Try that, or wait for substantial price action like a higher high for a perfect reversal. My entries are always based on time factor, and also base don support areas.

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