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  • Writer's pictureEkat

Nifty 50 Stock Price Analysis for 6th November 2023

Nifty 50 share rate keep going higher today, and this also has an astrological significance of Venus transit to Virgo. We had discussed the timing of reversal in previous blog. Our previous blog here

I discussed potential upmove of Nifty 50. I had also told you two days back, how time of 9:15 am on Friday can be a potential upside.

Screen shot here;

Timing the chart

Now that we had a gap up, the count looks even more exciting for now. And we can see some more upmove to complete this wave 3 for Nifty50 to go higher.

I am looking at a bullish sequence here, were internal waves are building up. The wave mentioned in BLACK here is an internal wave to the third wave upside (that is internal for a much larger wave with potential ending wave 5th on higher time frame to be discussed later).

As price keeps pushing her, the impact is on a Heikinashi candle, with average growing and green candle formation. The current ending candle is a pull back for internal wave 4 to give an opportunity to enter again for completion of this cycle.

Nifty 50 wave 3

Th black super trend is still buy, and the trend has a higher low formation, making it feasible for now to look for upward trend. I will keep a stop at the top of wave 1 because wave 4 can not go in the territory of wave 1. There are few special cases which even I don’t consider much. If we have to go higher, then there can be a gap up again on Monday perhaps towards the first target of 19380 levels. If you are interested in learning price action you may consider taking the course on

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