Nifty
Published: Mon, 12/05/16
05 - DECEMBER - 2016
Dear Members,
Weekly Nifty Update is below. The Long Short Report our Monthly Forecast was published this weekend. I have separated the Long Short Updates from the Report into two separate Menu Items to make it easier to find the Report. The Long term wave count is also included below.
05 DECEMBER 2016
The weekly elliott wave commentary with Targets and levels is published every Sunday to Subscribers, This is only an excerpt.
MEDIUM TERM
Candlestick charting was interesting for the week. All indices have long upper shadows which shows selling at higher levels. Below is bank nifty which shows a third down week and it did not pause like the others last week. Bank nifty remains the weakest link. So it has a doji star as shown below. A doji star at the end of a trend shows a loss of momentum, however, in between a trend it can often mark the halway point of a move. A move beyond the high low confirms which one is in play. ... READ MORE
LONG TERM
THE LONG & SHORT REPORT :- The LSR is our detailed monthly forecast of where the markets are headed, including sentiment indicators, inter market analysis, wave counts and a global perspective . Report now available TO Indiacharts Subscribers.
Long term Perspective and Basis: Updated 05 DEC 2016
Sensex has been in a long term up trend and you can argue in its favor till the grey channel is holding. Most would mark the 1990s as wave 1 and 2 longer term and i did too for long till I overlayed the Kondratieff cycle on it. The historical chart perspective is discussed in the Economic Winter section of the website. The chart below therefore shows a 4th wave triangle from 2008-2013. The 5th wave after that ended in 2015 and we broke the blue trendline last year from where I am marking it as a bear market.
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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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