Nifty Weekly Update

Published: Mon, 10/15/18

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08 OCTOBER 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

5 weeks of a falling market and 3 trendline breaks without a pause should have been enough to mark this as a trend reversal This is new and has not happened before in the last few years. Still there are online posts about the trend up still in force and new highs in Nifty before lower lows. What has gone missing is that trendline breaks are often followed by pullback rallies. The reason this happens is that many people panic sell the trendline break causing the short term oversold condition. The greatest risk today is that world markets that had paused their falling trend at the start of Sept after the trade tariff news are now rolling over to the downside 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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