Sunday, July 28, 2013

Elliott Wave & Technical Analysis for Nifty


Nifty resisted in the 6075-95 zone as updated in the last post. Now we have a very Bearish Probability on cards which also is suggested by the Bank Nifty leading index.




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Above charts present quite a Bearish Probability which if comes true may surprise on the Downside. 

As of now we are in Short Term Down Trend with 'Sell on Rise' kind of Market till closes above 6000 level. 

The Downtrend may mature below 5850 close.

Above the recent high of 6093 this probability will invalidate and we may see new All Time Highs. 

3 comments:

Nilesh Patil said...

Nice and clear Example of EW.
Thanks for your post sir.

AAR VEE said...

Hi Nilesh ,

Thanks for following the post and dropping ur comment.

Akash Bhatia said...

Thanks for the detailed explaination of Elliot wave principle.. Would surely be a good learning.

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