Nifty: what's next as per Elliottwave theory?

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ACC: Neo Wave Diametric pattern

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 ACC daily chart As shown in the above chart, prices are moving in a sideways direction after a stupendous rally, this sideways pattern are a sign of caution as there are high chances of a distribution pattern happening at higher levels. Wave theory suggests that, prices are moving in a Neo Wave Diametric pattern, which is a seven leg pattern (a-b-c-d-e-f-g) and in wave g there is a high possibility of a triangle pattern. Once wave g is over, prices are expected to falter till 1850 levels. The summation is ACC can move down till 1850 levels over short term, once the level of 2100 is broken decisively.
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EURINR: Terminal Impulse (Leading Diagonal) Elliott/ Neo Wave Analysis

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EURINR daily continuous fut chart EURINR hourly continuous fut chart In daily chart of EURINR, the pair is moving higher in a rising wedge shape pattern which is a bearish reversal pattern. However, there is no price breakout yet, once there is a price confirmation, prices are set to falter. RSI is also exhibiting negative divergence which is a sign of caution. From hourly chart, prices are moving in a rising channel (shaded portion) indicating that the trend is firmly positive and it has arrived near the support. This support zone of 87.50-87 needs to be broken decisively which will infuse selling pressure dragging it near till 84 levels. RSI is relieving from the oversold terrain and is set to resume the downtrend once there is price confirmation. From Waves perspective, prices are moving in a leading diagonal as per Elliott Wave and terminal impulse as per Neo Wave. Here wave iv has overlapped wave ii (rule of impulse as per Neo Wave) and part of wave i (Elliott Wave) and therea...
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Nifty in Ending Diagonal Pattern?

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 Nifty Daily chart Analysis Nifty is currently exhibiting a pattern of higher highs and higher lows, indicating a positive trend. While there is no immediate sign of reversal, there are indications suggesting that the current upward momentum may be losing steam. According to the Elliott Wave theory, there are signals suggesting the formation of a distribution pattern, specifically an ending diagonal pattern. However, this pattern is still unfolding, with one leg remaining on the upside, potentially pushing the index to new all-time highs within the range of 22300-22400 levels. Once this leg concludes, there could be a reversal in the trend. In summary, Nifty is anticipated to climb further from its current levels and may reach a new all-time high in the range of 22300-22400. However, after reaching this peak, a reversal could occur, potentially leading the index down to the range of 18000-19000 levels. Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter hand...
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