Elliott Wave & Technical Analysis for Nifty

Let us check the Probability in line with the larger Bullish Trend with Nifty now nearing all time High of apprx 8000 .

THE POST HAS BEEN UPDATED AS ON 28-09-14 with new charts : 

Elliott Wave Analysis for Nifty

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

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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 -

Technical Analysis for Nifty

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

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 . 

Technical Analysis for Nifty

After some volatile move last week, Nifty is now at cross roads for its Short term move. The bias may be decided by RBI meet on Tuesday . Check out the self explanatory charts below .

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 -

Technical Analysis for Nifty

Nifty closed below the important level of 6000 in the last trading session . Lets analyze what are the probabilities ahead -

Elliott Wave & Technical Analysis for Nifty

Nifty continues in the corrective mode as the insight analyzed from last many weeks . Below are charts with comments for the probability that may lie in future. Please go through them carefully.

Elliott Wave & Technical Analysis for Nifty

Last week's update showed negative divergences in various time frames and Market respected them to move down the whole week . Now this leg of downmove may be nearing an end in the short term . We looks at the probability now -

Trading Nifty

Nifty is slowly grinding up on weekly basis with no correction of consequence . The indicators in different time frames are showing negative diversions wrt the price movement along with a completion of a wave count . What to expect next -

Trading Nifty

Below are some observations which were posted as comments in the last post - 

Technical Analysis and Elliott Wave Update for Nifty

Markets reacted from apprx. the Resistance zone given in last post of 5380-95. Now the closes after that have been above 5300 and the down sessions have been on comparable lower volumes. The Weekly close has been neutral . Lets check out the probabilities and factors supporting both the causes.

Elliott Wave Update for Nifty

Nifty reacted from the resistance zone of 5225-5265 as seen in the last post . The downside was not much and almost paired the losses completely. Now let us check the probability that may be unfolding in the short term -

Technical Analysis for Nifty

First session of the last week took out the Monthly low of 5169 till then, bringing in weakness and trapping series long which culminated in the series expiry towards the low and in the process whipsawed the 200dma /5095 on closing basis on expiry day . Lets now see the technical picture in different time frames -

Trading Nifty

It has been a choppy , low range , low volatility Market since the start of July series. The Monthly range so far has been a poor 180 points apprx. Since last few months ,after making a top at 5630, we are seeing the trading with no followups of any breakouts on either side , important levels and averages being whipsawed , range bound short term trading and now small daily ranges and low volatility. It has been a boring market to trade lately .

Elliott wave & TA update for Nifty

Further to the last post , EW Probabilities in Long Term and an Update for Short Term trading is given below . Read the observations given in the charts carefully .