Elliott Wave Analysis identified a structural low for Nifty 50 near the 22,200 area. Nifty then rose from 22,362 to 22,700, reaching a resistance zone that had been mapped earlier.<\/p>\n
The video asks whether Nifty can move towards 22,900 and higher. It outlines the current wave structure and the key price levels to watch for the next move.<\/p>\n
A section reviews whether a past pattern may be repeating, using an expanded wedge framework. It also revisits a TradingView idea from March 2025 and includes a current Nifty chart read.<\/p>\n
The video includes a macro wave outlook for Bitcoin. It also presents a wave count and setup for MCX Aluminium Futures.<\/p>\n
Timestamps listed are 00:00, 00:58, 01:12, 01:45, 05:07, 05:38, and 06:38. The author is Abhishek H. Singh, a financial analyst with over a decade of experience in Elliott Wave Theory.<\/p>\n
We recall the analysis from March of last year which correctly identified the structural low on the Nifty 50 near 22,200. The subsequent sharp rally to the 22,700 resistance zone was a move we had mapped out well in advance. That setup provided a clear roadmap for the market’s direction through 2025.<\/p>\n
Now, with the index hovering just below 24,500, we face a similar structural test. Recent volatility has been fueled by last week’s Reserve Bank of India data showing a surprise 0.2% month-over-month increase in core inflation, spooking the street. Derivative traders should note that open interest in 24,500 strike calls has surged by over 15% in the last five trading sessions alone, signaling a formidable resistance level.<\/p>\n
Given this setup, we see value in buying protective puts with a strike price around 24,200 for the upcoming weekly expiry. Implied volatility is currently elevated at 16.5, well above the last quarter’s average of 14, suggesting the market is pricing in a potential downturn. This makes puts an effective hedge against a pullback from this key resistance zone.<\/p>\n
We also remember that macro wave outlook on Bitcoin from early 2025, which correctly anticipated a new bullish cycle following the 2024 halving event. That has largely played out, with Bitcoin now consolidating around the $115,000 level after setting a new all-time high last month. Recent data confirms a slowdown, with institutional inflows into spot Bitcoin ETFs declining by nearly 30% in March 2026 compared to the previous quarter.<\/p>\n
For the coming weeks, traders could consider range-bound strategies like an Iron Condor, selling calls around the $120,000 level and puts around $110,000. This approach is designed to capitalize on the expected price consolidation and the decay in option premiums. The current market structure suggests a major break outside this range is unlikely without a significant new catalyst.<\/p>\n
The developing setup on MCX Aluminium futures we analyzed back in 2025 did resolve to the upside, breaking through key long-term resistance. Today, the metal is trading near \u20b9285\/kg, a level not seen in over two years, driven by a clear rebound in global manufacturing. The latest Global Manufacturing PMI data showed the index at 52.1, its highest reading since late 2024, confirming this strengthening industrial demand.<\/p>\n
Traders looking to maintain long exposure should consider using Bull Call Spreads to limit costs and define their risk. Buying the May expiry \u20b9290 call and simultaneously selling the \u20b9300 call offers a structured way to profit from a continued, but perhaps more measured, rally. This strategy aligns with the strong underlying trend while protecting capital against a sudden reversal.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Elliott Wave video maps Nifty\u2019s low, resistance, and next targets, plus Bitcoin outlook and MCX Aluminium setup.<\/p>\n","protected":false},"author":103,"featured_media":16986,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-46252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/46252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=46252"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/46252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/16986"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=46252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=46252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=46252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}