Sunday, July 27, 2014

Elliott Wave Analysis for Nifty

Below is a Multi Time Frame chart showing Elliott Wave Probability -

Though the Trend is firmly Up in Higher Time Frames there are some signals of this Upmove stalling in the Short Term and a likely correction to follow. ( It's a counter trend view as of now )

This may happen only keeping below the Top of 7841 made as of now. On a close above 7841, the upmove continues in line with larger Trend.

1 comment:


looking at moves of this week, it seems that as per yr wave count, we have completed iii of 3 at 7841 and might have ended 4 at today's low at 7540 and we may be on wave 5 from here on wards , provided we hold 7540.