Nifty

Published: Mon, 04/17/17

     

Dear Members,

17 APRIL 2017

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 

Negative divergences led to a weak ending for the Nifty last week. The broad market however continued to hold on. World markets have also been in a corrective phase. So the rub off on our market may continue to be seen. Unless the recent high is surpassed a top might have been put in place. Even a spike to 9300 would only help form an ending pattern in the short term so we are going to need a stronger push from here on. Sector specific weakness is already prominent as hit the result season...  READ MORE

nifty-170417

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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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