Automatic wave scan: as of 19 Oct 2026, the automatic daily count for Nifty 50 is Wave 5 up with a bullish bias. The count stays valid while price holds 22,180.
Current Nifty 50 wave count
Automatic wave scan Updated daily from the latest daily close (16 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave advance that began at 23,606 on 24 Jul 2026. Next levels to watch are 23,515 and 23,874. The count fails on a daily close below 22,180.
Key levels
| Type | Levels |
|---|---|
| Resistance | 24 · 774 · 23 · 606 |
| Support | 22 · 180 · 22 · 776 |
| Invalidation | 22,180 |
What is Nifty 50?
The Nifty 50 was launched in April 1996 with a base value of 1,000, based on November 1995 prices. It is run by NSE Indices and weighted by free float market value.
Financial services have the largest weight, followed by information technology, energy and consumer goods. Strong local investor flows into mutual funds have supported the index in recent years.
What moves the Nifty 50 price?
- Domestic flows: Monthly investments by Indian savers through mutual funds add steady demand.
- Foreign investors: Foreign portfolio flows can drive sharp moves.
- Reserve Bank of India: Rate decisions affect banks and borrowing.
- Oil prices: India imports most of its oil, so higher prices hurt the economy.
- Corporate earnings: Banks and IT firms lead results season.
How Nifty 50 moves in Elliott Wave terms
The Nifty 50 has shown a strong long term uptrend with clear impulsive phases, such as the rally from the March 2020 low. Corrections have often been short and sharp.
Indian markets have their own trading hours, so the Nifty's daily candles are clean and waves are easy to label on daily charts.
Tips for counting Nifty 50 waves
Watch foreign investor flow data and crude oil prices. The Indian rupee trend also matters.
Nifty 50 key facts
Nifty 50 Elliott Wave FAQ
What is the Nifty 50?
An index of 50 large companies on India's National Stock Exchange, weighted by free float market value.
What sector is largest in the Nifty?
Financial services, including large banks, have the biggest weight.
How does oil affect the Nifty?
India imports most of its crude oil. Higher oil prices raise costs and inflation, which can weigh on stocks.
Sources and further reading
- NIFTY 50 index (NSE Indices)
- NIFTY 50 (Wikipedia)
- Monetary policy (Reserve Bank of India)
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