Nifty Weekly Update

Published: Mon, 02/11/19

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11 February 2019

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

A lot of people called the breakout above the yellow line a bullish signal and are now calling it a false breakout. But I drew the blue lines and there was no breakout on my chart. What is the difference? just a little bad experience of having done that in 2001. My Direcetor then told me that everyone had that level as the big players too had a technician with them so the level would get taken out before my view worked. It happened for a day that we closed above that mark, I gave up waiting for another signal. In hindsight I was able to then see the blue line pattern of all the highs that had formed that was not surpassed, 18 years ago. Is the same repeating? So far it has. That the blue lines also coincide with the 61.8% mark at 11095 was another kick. The left shoulder topped at 11171, so we were close. how much can you really fine tune the move beyond a point, and should you? READ MORE

nifty 110219

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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, Levels are based on Fibonacci maths and are only indicative of what the mathematical model throws up. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
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