Nifty Weekly Update

Published: Mon, 05/11/20

11 May 2020

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

The weekly momentum finally crossed back to buy mode from sell mode. Momentum is nothing but Rage of change so even if prices stop falling it will go back to zero. But what is important to understand is that markets are not static and move both ways and when momentum is mean reverting what is the hurry to go short. That fundamentals appear bad and the economic hit meaningful is known to all. That reality sunk in during the March stock market crash where indices lost 40% from the top. But the immediate trade today and trend now is a function of near term sentiment that is still mean reverting from end of the world to hope. There maybe more pain ahead but timing it will require looking for clues in multiple charts and indicators to discount where we are in the medium term cycles... READ MORE

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Rohit Srivastava
www.indiacharts.com
For accurate market analysis. Technical analysis is a study of past data to assess future probable outcomes. It is our endeavor to discuss high probability set ups for traders and investors in good faith. 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. Readers may download the free Elliott Wave Calculator to do it themselves. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
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