Nifty

Published: Mon, 02/26/18

     

Dear Members,

26 Feb 2018

The weekly Nifty Anslysis is below. If you missed this weeks podcast then here is a youtube link of the same 

https://www.youtube.com/watch?v=44Sz4VHAx00

Also other posts that went live recently

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 

Multiple long lower shadows in the same range were a sign of a support zone. This is a weekly chart of the Nifty 500, and a lower shadow means that prices on a candlestick chart show deep long line down from the black or while real body. This indicates that prices traded down during the week but buyers came in and pushed it back up. This has happened many times here. Some of the candlesticks are doji and this week a hammer. This level has worked for now but will it next time? That is subject to the higher top higher bottom formation continuation. If prices make a lower top in the coming weeks then the odds of this support zone holding go down. READ MORE 

nifty260218


The CRB index - has been holding on the rising channel from the jun 2017 low. That is line with the view on crude oil. Prices did fail to breakout from the yellow trendline of previous swing highs, but holding the rising channel the odds for a breakout eventually are bright. Once done we should be seeing much higher Oil and commodity prices. In other words the rising bond yields so far have not dented the underlying trend for commodity prices or maybe inflation in the months ahead.

crb 220218

 Bank Nifty and Metals market Update on the Bse metal prices on Mcx as a follow up to the Video done two weeks back on the possible correction that was short lived. So what lies ahead for base and previous metals? And what is the wave count on bank nifty?

http://screencast-o-matic.com/watch/cFnbQKoMGN

Platinium sold off a bit more but should have now started wave 3. 3=1=1130$. 993 and 975 support from the 2 averages.

platinium 160218

 From almost breaking down Copper prices stopped falling at near the rising trendline from the 2016 bottom at 3.04$, this could end up being a very important support level.

copper 140218

 

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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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