In this technical article we’re going to look at the Elliott Wave charts of NIFTY Index published in members area of the website. As our members know , the Index shows incomplete sequences in the cycle from the 26281.55 peak. The price structure calls for further weakness in NIFTY. The index is targeting 21836 area, where we like to be buyers again. In the following text, we will explain the Elliott Wave forecast in more detail.
NIFTY Elliott Wave one-hour chart 02.09.2025
As mentioned earlier, NIFTY is showing bearish sequences in the cycle from the 26281.55 peak, and we expect further weakness in the index. Current Elliott Wave analysis suggests that NIFTY completed a three-wave recovery at the 23806.54 high. As long as the price remains below this level, we anticipate continued downside in NIFTY.
At this stage, we do not recommend forcing trades. The strategy is to wait for the extreme zone to be reached before considering a buying opportunity.
NIFTY Elliott Wave one-hour chart 02.12.2025
The price made further separation from the 23808.4 peak and retested the previous low at 1 red. To confirm further downside within the proposed cycle, we would like to see a break below the January 27th low. A break of this level would increase the likelihood of an extension towards our target area at 21836, where we are interested in buying again.
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