Nifty EW Update

Published: Thu, 11/02/17

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The Complete Market Analysis
Dear ,

How Do I manage to stick to this developing scenario for weeks and months against all odds. It is the evidence the way I see it. The easy way out would have been to be chicken and follow the herd. That is a choice. To be right for the sake of appearing to be right today cannot be the end all of objective market analysis. Being wrong cannot be a deterrent to looking at alternate opinions and reasoning. At least let us start by knowing where we are and why. Then you are truly responsible for the results that you get in the end. 5 years from now you cannot blame anybody. So educate yourself and do your own due diligence.




02 NOVEMBER 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 

More than the Nifty the New 52 week highs in the Mid and Small cap indices are interesting. The ability to bounce back after steep sell offs in May and August and Sept almost give a feeling of confidence to buy the dip, but the number of stocks making it to 52 week highs are getting narrow. So is this breakout for real or are we looking at an ending pattern that is nothing but a distribution pattern running for months and the new highs are nothing more than deceptive late in the Bubble? Of course equities are in bubble territory based on past records. The second chart below shows the Nifty 500 P/E at 31.18 in record territory and much higher than the 27.06 seen at the 2008 top. What is the p/e for the Nifty Small cap 100 index? 56.53. Yes no one can call the end of the Bubble correctly cause it can run for a while, but you can at least admit that you are in one. ...  READ MORE

smallcap 021117

Nifty 500 P/E Ration Chart - Source NSE - Chart Courtesy Fundata.in

nifty 500 pe

 
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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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