Elliott Wave and Technical Analysis for Nifty

Let us take a look at the Probability as of now. 

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 -

Elliott Wave & Technical Analysis for Nifty

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

Nifty's Trend is that of sustained upmove with only Short term corrections and making Higher Lows- Higher Highs. 

Lets check out what lies ahead before upcoming Annual Budget -

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

Though majority of the Technical signals are showing a maturing down trend, let us check a bullish probability for the short term -

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.

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

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.