Nifty Weekly Update

Published: Mon, 06/18/18

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18 JUNE 2018

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

On the weekly chart Nifty has moved from the upper Bollinger band to the lower and back to the upper over the last 6 months. Of this the last 4 weeks we closed positive but did not make new highs. Doji candlesticks that mean a very small rises from open to close for each week was seen. This dull behaviour with low breadth and volumes has taken away the volatility and excitement that was present at the start of the year. The upper band is an important resistance at 10964, and unless surpassed should deflect prices lower again. 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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