Nifty Weekly Market Update

Published: Wed, 01/23/19

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22 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

There are lots of posts online on the existence of a triangle pattern on Nifty however what you expect from the market is a matter of how you draw the starting and end point of the triangle. In EW analysis triangles occur generally in wave B or wave 4 positions. By doing so they precede the final moves in wave C or wave 5 of a pattern. In corrective complex structures they occur in the last phase of the move as in wave y or wave z and once complete the next trending move starts. Yes the nifty formed a triangle and I think it best fits as shown below, what is going one now then is a matter of debate for many. Wave C up appears as a common interpretation, however I have taken a different stance for now. READ MORE

nifty 220119

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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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