Nifty Weekly Update

Published: Sun, 05/31/20

27 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

After a 3 week correction Nifty has retraced just over 38.2% of the gains made in April but Bank nifty 78.6%. This deviation is reflected in the global weakness of bank stocks. But weekly momentum remains in buy mode and the broad market [midcaps and smallcaps] so far is holding out stronger than the rest after a 2 year plus bear market. This is the ideal scenario of smoke and fire that makes value investing possible if you can look beyond the smokescreen... READ MORE

nifty 270520

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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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