NIFTY 50 – Elliott Wave -Are we heading towards 28300Nifty 50 IndexNSE:NIFTYimkhushalNIFTY 50 – Elliott Wave Update | W-X-Y Confirmed + Fresh Impulse Underway? (Key NEoWave Rules + Trendline Timing Validation) The recent structure on Nifty confirms a completed W-X-Y corrective pattern into the April 2025 low. The strongest confirmation comes from a very important Elliott/NEoWave principle: “A correction is confirmed complete when price breaks the corrective trendline in LESS time than the final C-wave took to form.” This happened perfectly on Nifty — the post-April rally broke the W-X-Y trendline much faster than the duration of the Y-leg’s C-wave. ➡️ This is one of the most reliable signs of a trend reversal. 🔵 Impulse Formation: 0-2 Trendline Rule (NEoWave) From the April low, the rise into September counts best as a 5-wave impulse (Wave 1), followed by a three-wave decline (Wave 2) into October. The 0-2 trendline is now your key validation tool. NEoWave Rule: In a standard impulse, Wave 3 and Wave 4 must not break the 0-2 trendline. Violation implies the structure is not an impulse and a larger correction is still in progress. Currently: Wave ii has touched the 0-2 line and reversed perfectly Price is holding above the line A developing Wave iii is likely underway This keeps the impulse scenario alive and dominant. 🔴 What invalidates the bullish count? If price breaks the 0-2 trendline before completing Wave v, ➡️ then this rise becomes a c-wave of (b) inside a larger Wave 4 correction. This is the bearish alternate some analysts are posting. But at this moment — the structure favors the impulse. 🔵 Upside Levels (Wave iii & v projections) 26,767 → 0.618 projection 28,250 – 28,300 → Wave C / Wave 3 zone Above that, Wave 5 targets can be mapped later As long as price remains above the 0-2 trendline, upside remains the higher-probability scenario. 🎯 Summary ✔️ W-X-Y correction confirmed complete (time rule) ✔️ New impulse likely in progress ✔️ 0-2 trendline holding well ✔️ Break above 26,275 strengthens the bullish case ✔️ Invalidation only if 0-2 trendline breaks prematurely 📌 Disclaimer This is a personal Elliott Wave study shared for educational purposes. Not investment advice. Trade with risk management. 💬 If you find this detailed wave analysis useful — FOLLOW for more high-quality EW & NEoWave charts! I post: 🔹 Clean wave counts 🔹 NEoWave pattern confirmations 🔹 Multi-timeframe structure breakdowns 🔹 Realtime invalidation levels