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 -

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 & Technical Analysis for Nifty

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 :

Nifty

Chart posted yesterday has been changed with regards to EW sub wave counts though the Technical outlook and probable Impact remains the same.

The old chart stands invalid and the one below is in consideration 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

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

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

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 .

Elliott Wave & Technical Analysis for Nifty

Check out the Charts with Observations for Trading Probabilities - 

Elliott Wave & Technical Analysis for Nifty

As analyzed and observed in last week's post and comments , the downtrend continued . Lets check out the technical charts for trading this week.

Technical Analysis for Nifty

Follow up from the last post -