Sunday, March 3, 2013

Elliott Wave & Technical Analysis for Nifty


Check out the Charts with Observations for Trading Probabilities - 



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4. Chart to watch in short term :



Elliott Wave Analysis :

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Trend is Down in higher time frame Positional . Only a close above 5900 may alter it to Neutral as of now . Sell on bounce near Resistances marked and Cover in parts near Supports/Targets . 

7 comments:

rajapvt said...

Aarvee, Thank you for the update.

San said...

Great Analysis Aarvee

Anuj said...

Thank Aarvee..

Shweta Seth said...

Good Analysis Aarvee! stock market volatile after the budget speech http://in.reuters.com/finance/markets/indices.

ravi chauhan said...

Hope you remember what i had said Nifty future will make low on 28th February and take Uturn.. just watch low

Now keep watching Nifty Future will touch 6594, till September

AAR VEE said...

Thanks Rajapvt,SAN,Anuj,Shweta,Ravi .

10-03-13
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The bounce shown as in hourly chart materialized but didnt stop at 20dma 5840 and went further to 50dma in a straight line with shallow intraday corrections.One of those times when positional side got heavy on short side and boat was rocked to throw them off.

Now this could be both a sucker B-4 which is retracing up only to give a fast fall later. It also may be a 5th up after doing the 4th in an a-b-c.Both probabilities are open as of now.

The short term has turned up and will remain so above 5840 on closing basis as of now.

Anonymous@V said...

With markets hitting all time high worldwide. QE3 continuing and economies poised to recover from 2013 levels, funds seeking higher returns globally, the bias remains up....Thanks RV...cheers

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