Nifty weekly

Published: Mon, 05/09/16

     

Dear Members,


09 MAY 2016 


The weekly elliott wave commentary with Targets and levels is published every Sunday to Subscribers, This is only an excerpt.

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MEDIUM TERM

NIFTY ELLIOTT WAVE UPDATE 

Nifty closed the week below the 7842 low made by the doji star. It also closed inside the expanding trendlines of the highs and lows of the period. Nifty has pushed beyond both the trendlines and failed. The question is will the current failure lead to another move down that is substantial. The rally has ended at exactly 50% of the entire decline so far and till surpassed the trend appears weak especially as the doji star marked the loss of momentum. Indicators will lag in confirming but most of the up and down moves for over a year are 2-4 weeks long, extremely short gyrations that cause indicators to whipsaw...  READ MORE

nifty090516


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Rohit Srivastava
www.indiacharts.com
For accurate market forecasting. Market forecasting is a study of past data to assess
future probable outcomes. It is our endeavor to discuss high probability outcomes for
traders and investors. However this is not a solicitation to buy or sell stocks futures or
options or any security. Trading in any financial market should be done with sound
knowledge and the help of a qualified investment adviser. Stocks based on the Elliott
wave model are based on the Fibonacci fractal of the market and momentum indicators,
targets are based on Fibonacci maths and are only indicative of what the mathematical
model throws up. This is not a recommendation to buy/sell.
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