How I Got Rid of Nifty Fear with Elliot Wave

when I was a naive trader I always used to see fanatic nifty move up  and down. I never had courage to trade. That time, I tried my luck in Nifty with option but I burnt my hands with losses.

Recently I studied the Nifty chart with Elliot analysis. I was totally surprised as it revealed all the secret but I regret because I studied this chart after the completion of this wave.
The Elliot wave that i am sharing started and finished just before the election.

The beauty of this wave is that the difference of Wave 1 start and Wave 2 End (10585.65-10583.65) is just 2 rupees.
Did you see the magic? with the stop loss of 2 rupees we can get the profit of more than 950 point.
Have you ever seen such Risk and Reward Ratio?

The Wave That I am Riding Now

 Once the wave C is competed there was no way to check the new wave formation on daily chart so I tried to find if any wave is getting shape in hourly time frame. I found the following wave and i bought a Call of 11350 at 316 and on the Election result day 23-05-2019 I booked. I earned profit of 20,000.


03/05/2019: Currently I am short on Nifty Future with one lot:






Today when Wave B gone above of 5th wave top, It indicate that this formation is not good. So I studied the waves one more time on daily chart. The new Wave formation is as displayed in screenshot. Now the wave 5 is in formation.

Wave 5 is complete so the correction will be completed in ABC wave. These wave may be consist if A(5)B(3)C(5) or A(3)B(3)C(5)

The wave 4 that I displayed in this chart may be the start of wave B. If it is really the wave 4 then wave 5 will be lower.

07/08/2019: As I mentioned earlier that correction wave ABC is is progress. B is completed and C is in running.If C wave is equal to A then it is almost done.




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