🔹 1. Basic Setup
- Chart Timeframe: ✅ Intraday (75-minute)
- Asset Analyzed: S&P CNX NIFTY INDEX FUTURES
- Symbol: NIFTY-I
- Date of Analysis: 04 August 2025
🔹 2. Current Market Context
- Trend Bias: ☑ Sideways / Consolidation
- Current Pattern Status: ☑ Correction in Progress
- Higher Timeframe Context:
- LT Direction: Bullish
- Major Support: 24,680
- Major Resistance: 25,300 / 25,750
🔹 3. Wave Count Summary (tentative based on price structure)
⚙️ Impulse Wave (Prior completed 5-wave cycle possibly from April to July)
- Wave 1: 22,000 → 23,800 ✅ Confirmed
- Wave 2: 23,800 → 23,000 ✅ Complete
- Wave 3: 23,000 → 25,600 ✅ Confirmed (Extended)
- Wave 4: 25,600 → 24,700 ✅ Ongoing (flat/complex)
- Wave 5: 🔸 Yet to start or started from 24,680 low
🌀 Corrective Wave (Current in progress or ending)
- Possible ABC Flat:
- A = 25,600 → 24,200
- B = 24,200 → 25,200
- C = 25,200 → 24,680 (currently testing support)
🔹 4. Fibonacci Zones
| Level | Fib Ratio | Target / Zone | Confluence |
|---|
| Wave 2 retrace | 50%–61.8% | 23,000 zone | ✅ Previous support tested |
| Wave 3 target | 161.8% of Wave 1 | ~25,600 | ✅ Reached |
| Wave 4 retrace | 23.6%–38.2% of W3 | 24,700 zone | ✅ Ongoing near 38.2% retrace |
| Wave 5 target | 61.8%–100% of 0–3 | 25,900–26,300 | 🔸 Pending |
🔹 5. Trade Plan
| Setup | Entry Zone | Stop Loss | Target Zone | Risk/Reward |
|---|
| Long from Wave 4 End | 24,680–24,720 | 24,600 | 25,600–25,900 | 2.5–3.5 R:R |
| Short (Invalidation) | Below 24,600 | — | 24,000 | (If alt count triggers) |
🔹 6. Alerts & Invalidations
- Invalidation Level: If price breaks below 24,600, Wave 4 may extend or alternate count may trigger
- Alternate Count: Flat turns into complex WXY if support fails
- Trigger to shift: 24,600 breakdown with strong volume
🔹 7. Chart Attachment
✅ Attached (Annotated NIFTY 75m Futures chart with support zone at 24,680)
🔹 8. Notes & Sentiment
- Market Sentiment: ☑ Neutral to Bullish
- Correlation: Mild correlation with global indices (Nasdaq sideways)
- Volatility: ☑ Moderate
