16 JULY 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
Nifty came close to making a new all time high even as the Sensex actually did, however, in the last two days of the week the Midcaps resumed their selling spree and ended with inverted hammer candlestick patterns. The chart below shows the RSI indicator on daily charts of the Nifty Midcap 100 with a
reverse divergence that has short term bearish implications from the recent highs. A reverse divergence is when the lower highs in the index/security result in higher highs in the RSI. This is usually a signal of trend continuation and not trend reversal. The Mid/Small caps or the broad market beyond the top stocks will remain the main area of concern for the weeks ahead READ MORE
The Long Short Report - Identified this as the main concern for this month for markets and the coming weakness in
Commodities prices. Two headwinds that are working the other way than most expected. It might be falling oil prices and rising prices that might be a concern for global markets. Find out more about our Outlook and keep up to date every day with Indiacharts Insiders. Start with the Code below.
