Nifty Weekly Update

Published: Fri, 06/01/18

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01 JUNE 2018

MEDIUM TERM

NIFTY ELLIOTT WAVE UPDATE

The villain in the room remains the Midcap indices. The monthly chart of the Nifty Midcap 100 shows it in sell mode after a major negative divergence. This week May month came to an end and we closed just above the 20 month average the nearest support at 18069. My warnings for Midcap and Smallcap stocks have gone on for months as they have fallen harder than even what these indices might suggest. What is more, the trend might not be over. In the next few days my next instalment of the Long Short Report should be out to discuss these developing trends and the coming moves in the market. If you have just returned from your month long summer break then put on your shoes and get prepared. For the week ended today these indices were down for the 5th consecutive week and are well below even their weekly averages. Stay tuned READ MORE

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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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