Nifty- Budget 2016

Last Post  http://aar-vee.blogspot.in/2016/02/elliott-wave-technical-analysis-for.html#more expected the following Probability :

Since Trend is Down, keeping below 7230 close we may retest the Low / further below. 

We may get an upside bounce on a close above 7000 to test the Resistance zone now at 7150-7230.

Close above 7270 may signal a Bottom in place as of now.

Positionally the Low 6869 and apprx 100 points below is now a good Support zone.


As of now :

Will update on this further. 

Elliott Wave & Technical Analysis for Nifty

A Big Weekly Downside. Markets Down almost 25% from the Top of 9119. Check out the Charts as of now.

Elliott Wave & Technical Analysis for Nifty

After a dull expiry for Jan series and big move on Friday, lets check out the charts as of now -

Nifty in Expiry Week- Jan 2016

Are the Bears leaving or still sniffing opportunity?

Last week Nifty achieved the basic target of Correction at 7350 apprx and went further down. Let us check the short term Probability in store for this week.

Elliott Wave & Technical Analysis for Nifty

Elliott Wave & Technical Analysis for Nifty

Check out the probability that lies ahead as of now :

Elliott Wave Analysis for Nifty

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

Elliott Wave & Technical Analysis for Nifty

Last Post cautioned the Longs, Extended target area starting from 6335, Bearish signals, Refrain for ultra bullish calls etc.

Market reacted on downside retracing the last pivot of 6032 in a faster time period. Now further --

Elliott Wave & Technical Analysis for Nifty

Stock Markets have closed at the Highest Weekly Close level of 2013 and are quite near to Yearly and all time Highs. Lets check out the probabilities at this stage-

Elliott Wave & Technical Analysis for Nifty

As analyzed in the last post , a Rally to the mentioned target zone near 5675-5725 happened from the support zone of 5295-5335. Now lets check further -

Elliott Wave & Technical Analysis for Nifty

With pessimism all around, there is a contrarian probability of a Short term move on the Upside in the prevailing larger Downtrend. Check this out - 

Technical Analysis for Nifty

The Down Trend continues, firming up in Higher Time Frames. Chart updates and Observations as of now -

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.

Elliott Wave & Technical Analysis for Nifty

Nifty unable to close below 5570 gave a quick upmove from the expiry day of last series . We check the probabilities ahead-

07/07/13: The week ended range bound between 5750-5900 in the support & resistance zone mentioned. Updated one EW probability in the post. 

14/07/13: The Triangle pattern developing since last week broke on upside. Updated chart added.

21/07/13: Holding 5935 on closing basis it went up again to make a new high as in the update last week. Now watch for 5975. Chart updated in the post with observations-

Elliott Wave & Technical Analysis for Nifty

As in the last post , without invalidating 5885 , tested 5640 and below but held this support on closing basis. Lets check further -

Elliott Wave & Technical Analysis for Nifty

Let's check out the different Time frames and Probabilities for Trading -

Nifty Update : Elliott Wave & Technical Analysis

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Added Updated Chart as on 09-06-13 in the Post below . Brief in Comment section.
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Elliott Wave & Technical Analysis for Nifty

Was not able to update a new post last month but observations in the comment section of last post held good to capture the reversal from 5477 bottom above crucial 5550 level then. We have done the 5960 target as mentioned. Now further-

Elliott Wave & Technical Analysis for Nifty

The bounce in oversold conditions materialized on the last trading session of the March series after trading in an ending diagonal pattern in the truncated week. Lets check the trading probabilities ahead .

Elliot Wave & Technical Analysis for Nifty

The Short Term direction came on RBI policy and gave a good downside move below 20dma at 5840 apprx then. Now let us take a look at new signals developing as of now and the trading probability .