30 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
Last week I discussed the reverse divergence between the Nifty Midcap index and the RSI indicator. This week we have one more negative divergence in that indicator as the new high in the RSI is not supported by a higher high in the index yet. On the other hand the chart below shows a series of multi month inter market
divergences between the Nifty and the Nifty Midcap index. This happens when one of the two indices makes a new high over several months not confirmed by the other. Eventually the trend changes for the months ahead. We face such a situation today as the Nifty is at a new record while Midcaps have been falling for months. Nifty is the upper half of the chart below READ MORE
