Nifty 50 Index 1hrs Time Frame EWT Analysis

Nifty 50 Index 1hrs Time Frame EWT Analysis

We study from 29.08.22 price low point is 17166 which is ending point of wave IV and beginning of Wave V which is ended 18096
Dated 15.09.22.

Wave V internal structure wave ((A)) ((B)) and ((C)). Wave ((C)) ended 100% extension of wave ((A)) and wave ((B)) in
another way wave V subdivided into 12345 in this structure we draw upper trend line from wave 1 to wave 3 or wave 2 to 4.
we can clearly see ending diagonal.

Yesterday Dated 16.09.22 Breakdown of channel with strong Candle (1st hrs).

Down trend from key level from 18096 to 17500. which is 0.618% retracement of wave V.
Wave ((i)) travel from 18096 to 17865
Wave ((ii) Retrace 0.38 % of wave ((i))
Wave ((iii)) extend 200% of wave ((i)) and ((ii))
Wave ((iv)) we can anticipate pull back up to channel (retest) or retracement of wave ((iii) up to 0.618% (17786).
It may be 3 or 7 swings or triangle.

Disclaimer
It is my personal research for only educational purpose before investment or trade plane please guide your financial adviser.