Nifty Weekly Update

Published: Mon, 04/08/19

08 April 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 WAVE UPDATE

Nifty ended the week with a doji star on weekly charts a sign of possible exhaustion after a 7 week advance. That said at times some trading signals fail and many have turned to automated models. This one below that I use displays multiple buy/sell signals over the year that went well in 2018, however we started 2019 on a wall. These range bound periods are non trending and trend following systems can falter. There is no way to remove the crazy noise except wait for it to end. Periods of low volatility and noise are always followed by trending moves and the direction is key. While all this was happening the mathematical historical volatility is coming off its lowest reading in the history of the Sensex. Rising volatility bodes well for directional systems as it will see returns expansion. It means big moves on both sides ahead, long and short. 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, 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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Value Wave Stocks discusses the short term trading set ups that we use while taking our trading decisions. Value wave Investments. discusses the long term set ups that we use while taking our investment decisions. We hold investments in these stocks and are interested in these opinions. This is not the only reason considered while taking our actions. Kindly take the help of a qualified investment advisor before trading. Rohit Srivastava is a Fund Manager of a trading PMS fund at Sharekhan Ltd. that has active open long and short positions in the futures markets at any point of time. The opinions here are for your education and understanding only of how we identify stocks to trade/invest in. We change our opinion daily and even hourly. Any actions taken by you are at your own understanding and risk. We do not offer personalised advise or research of any kind.
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