Nifty

Published: Mon, 07/31/17

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Dear Members,

31 JULY 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

Nity has now risen for 7 months with one pause, and 4 weeks consecutively. On an arithmetic scale it is at the upper end of a rising channel. How you mark the wave counts is up to you and your chosen bias. There are always many possible alternates that are viable. The rules of EW allow you to eliminate that which is unlikely and leave you with some that are and nothing is wrong. Weekly momentum indicators continue to develop negative divergences ? The wave counts below are not necessary 1-2-1-2 but a lot depends on your imagination. My markings show it as a corrective advance, and there is a limit to doing that as well.... READ MORE

nifty-310717

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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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