Nifty

Published: Wed, 08/24/16

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The Complete Technical Analysis
Dear ,

Here is the Weekly Nifty Update after a third week in the same range with a doji star candlestick to deal with.

24 AUGUST 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 has formed a diamond like pattern over the last one month very similar to what happened exactly a year back. Diamonda are a variation of the triangle pattern with five waves, the only difference being that the initial 3 waves expand and then  contract in a range. A diamond ia a classic TA pattern and not one out of EW books. Being a triangle it can occur at the end of a trend or as a continuation pattern as well. The breakout from the pattern gives interesting results. A bullish breakout can give you a rally equal to the one that preceded it and a bearish breakout a correction to the preceding up move ...  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 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, Levels are based on Fibonacci maths and are only indicative of what the mathematical model throws up. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
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Value Wave Stocks discusses the short term trading set ups that we use while taking our trading decisions. Value wave Investments. discusses the long term set ups that we use while taking our investment decisions. We hold investments in these stocks and are interested in these opinions. This is not the only reason considered while taking our actions. Kindly take the help of a qualified investment advisor before trading. Rohit Srivastava is a Fund Manager of a trading PMS fund at Sharekhan Ltd. that has active open long and short positions in the futures markets at any point of time. The opinions here are for your education and understanding only of how we identify stocks to trade/invest in. We change our opinion daily and even hourly. Any actions taken by you are at your own understanding and risk. We do not offer personalised advise or research of any kind.
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