Nifty

Published: Tue, 05/09/17

     

Dear Members,

09 MAY 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 

The Sensex remains the oldest index with maximum history that you need to study when you take a market opinion. For years my daily and weekly trend analysis here on IC were only on Sensex despite popular demand for Nifty because of the belief in cleaner data from the BSE. The Sensex has barely crossed the 2015 highs and a top here would end up meaning a double top for this chart. The chart shows my own momentum indicator on top of Sensex. The cycles of buy and sell signals sometimes involve multiple divergences like in 2015 but often the cycles are cleaner with not more than one divergence as seen in 2016-2017. So the momentum has been rolling over for a while even as Midcaps raced to new highs and you need to watch key reversal levels to confirm the trend reversal...  READ MORE

nifty-090517


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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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