Nifty Weekly Update

Published: Mon, 01/14/19

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14 January 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

After last weeks engulfing bear candle in Nifty this week we developed a inside bar. A bar pattern where the current weeks high and low are inside the previous weeks high and low. It shows indecisive markets but also an exhaustion of the previous trend as momentum is lost. A confirmation of trend reversal is needed by breaking out of the range into a higher top higher bottom or lower top lower bottom formation. Nifty broke the rising trendline from the 2016 low and has spent weeks trading below it. The 2013 rising trendline is at 9500. 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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