NSE:NIFTY   Nifty 50 Index
371 9
ELLIOTT wave counting if carefully labelling,both time and magnitude can be determined.
the above chart explains clearly that final Z wave begins.
this is a 5wave impulsive move which should be always equal both time and magnitude of W wave
which falls near 8005 on 20th of march(26 business days)
Hence what is the trading idea?
swing traders can take a feb contract and relax up to 8005.
option traders can buy plain vanilla PUTs 8300,8200 feb expiry
day traders can cover their shorts at the end of (1) 8235 and(3)8005. remember the (2)8415 and(4)8288 are swift, don't trade against the trend

happy trading ....february is ours....

Feel free to ask...


Comment: this is for your education purpose.
before commenting a financial event to unknown viewers an expert must do more and more homework,analysing the psychology of traders,events,results,political news.publishing more ideas and getting more score doesn't helpfull in my view.a trader must protect his capital for the survival into the market. some people do trading for their daily bread,some make money and loose next day.
nobody can dictate the market but how fund managers and institutional investors make money?
Comment: because they are not day traders,remember the movement of nifty day on 9/11/2016 . nearly 475 point swing throws the traders out of market.
Basic trading has three events.
1. buying at low level(support level,panic gap down,)
2.creating news,brokers recommendations ,asking more to buy,technical tools shows buying signals makes the stock to go high
3.profit booking by smart investors when everybody looks for buying
cycle repeats
Comment: elliott wave clearly describes these events in wave is very simple. Based on human psychology . Fits all type,all markets where buy and sell hapens
Comment: again shorting opportunity for day traders 8400 SL(spot)
Comment: Today nifty will complete its 1st wave at 8317/8319
keep your shorts if nifty close below this
Comment: Z wave will start from 8736 if this level not able to close on daily basis
If that happens, I guess Z will retrace 61.8% (ie, 7650) of previous rally (6825 to 8970). Your views?
expecting much lower levels in feb-mar
bottom at 8000 looks doubtful
very good crystal clear analysis. thanks for sharing your views.
Hi Selvam - Any view and the Bank Nifty?
selvamgeetha krish2052
@krish2052, bank nifty is a sub index of nifty,so you may see some pain till tuesday
Selvamji, very clear technical analysis, thanks for sharing your views.
Any suggestion for January Series ?
selvamgeetha Siddharth_Kr_Jain
@Siddharth_Kr_Jain, JANUARY series also inclussive
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