Nifty

Published: Mon, 11/13/17

     

Dear Members,

Nifty weekly Update
13 Nov 2017


​​​​​​​The weekly Elliott Wave commentary with Targets and levels is published every Sunday to Subscribers, This is only an excerpt of our observations from recent publications.

MEDIUM TERM

NIFTY ELLIOTT WAVE UPDATE 

I recently floated a chart of the Open Interest Put Call Ratio along with my Sound Cloud Podcast for this week. So here is an updated chart as that one was more than a week old. The 2015-2017 two year period is shown. What you see here is a near term negative divergence in the PCR and a high reading that was the highest on record after the previous record seen at the An 2015 top. The Put Call ratio tends to be directly correlated with prices and it rises with price. So a trend reversal is needed to indicate the reverse and confirmed by actual price action. We saw some of that last week and further follow up action this week would confirm the situation  READ MORE

lsr11

Nifty 500 P/E Ration Chart - Source NSE - Chart Courtesy Fundata.in [01-11-17]

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,
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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