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
