Nifty Weekly update

Published: Mon, 05/30/16

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The Complete Technical Analysis
Dear ,

After an entire month of being under pressure the markets took off on fire just days into expiration. If you have been reading my posts what you cannot ignore are global developments and we are still faced by a rising dollar and falling commodities prices. It is hard to say that the worst is behind us.



30 MAY 2016 

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

MEDIUM TERM

NIFTY ELLIOTT WAVE UPDATE 

Nifty broke out of the falling expanding patten, but broader indices like the BSE500 are lagging behind. The move up was all done in 4 days making the biggest weekly candle since the Feb bottom. And we have not seen such candles in all of the last few years. I still think this is a bear market rally and have been marking it as an X wave. Except that the X could now be of larger degree. Whether it is a-b-c or an expanding triangle is only a matter of interpretation...  READ MORE


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Rohit Srivastava
www.indiacharts.com
For accurate market forecasting. Market forecasting is a study of past data to assess
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Price levels are based on Fibonacci maths and are only indicative of what the mathematical
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interested in the views and opinions expressed. This is not a recommendation to buy/sell.
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