Author: niftytechblog


Nifty should go to 14000 – 15000 in this rally of last fifth wave

Nifty Hourly

Nifty Daily



We are in final fifth wave of major trend.

Expecting major correction after 1-2 month

Nifty Monthly

Nifty Weekly

Nifty Daily

Nifty Hourly



As said last week, we did see triangle breakout. i was expecting it to be fast and furious as what triangle breakout normally do. Till now this movement was not as expected. Please note that this breakout was from 1.5 month of triangle formation.

Its highly possible that we are in ‘B’ wave now and ‘C’ will soon resume. I am keeping 10700 (previous low) as a hard stop for any further up move.

On monthly chart, we are seeing similar pattern where in past Nifty has fallen from here. Is history going to repeat ?




Nifty 20-10-2018

If my counting is correct, we are near completion of this downtrend. We should see recovery in 1-2 days. It would be nice if wave (v) goes below wave (iii) before recovery, giving us more confidence in this structure

My trading strategy from monday till expiry will be –

  • play in 5 min chart
  • BUY when 2-3 candles closes above 50 SMA
  • Squareoff when 2-3 candles closes below 50 SMA
  • Repeat above

(Disclaimer – Above will be my strategy and I am not recommending anyone reading this blog to do this. Anyone doing will be at their own risk)