The Third Eye: Elliott Wave

Showing posts with label Elliott Wave. Show all posts

Sunday, April 3, 2016

Elliott Wave and Technical Analysis for Nifty

Let us take a look at the Probability 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

Prolonged Correction is on from the High of 9119. The start of 2016 has been quite Bearish. Check out where do we stand in bigger Picture and the probable structure of Correction .

Elliott Wave and Technical Analysis for Nifty

Is there a Reversal in sight ? Let's check the last post observations and follow up -

Elliott Wave & Technical Analysis for Nifty

Last Post had calculation for the upmove from 7723 to be in final phase and a likely culmination above 8550+ . Now further update -

Elliott Wave & Technical Analysis for Nifty

Check out the probability that lies ahead as of now :

Elliott Wave & Technical Analysis for Nifty

Event of the Financial Budget is round the corner. Let's check out the Technical Probabilities as of now.

Elliott Wave & Technical Analysis for Nifty- Achchhey Din Aane Wale Hein !!!

Good Days are round the corner for the prudent Technical Traders. Lets check out- Why ?

General Election 2014 Results are poised for May 16th which may give a good move in the Short Term and clear the Major Trend ahead for the Medium Term Time Frame.

Check the Technical Probabilities ahead -

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

Last few Sessions and Weekly close have been above 200 dma indicating Technical bullishness.
Lets check the Probabilities now with the Charts & Observations for the Trading Insight.

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 -

Elliott Wave & Technical Analysis for Nifty

Observations in Last Week's Post were-

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.

Now further -

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-