Is Nifty going to touch 10 K ?
These are the 2 probable questions most of the traders have in their mind !!
Let me try to answer by the wave pattern
As per the wave possibilities which i see both are possible
If the present up-move goes as Wave B - Then it can surely touch 11K within the next 10 trading days
following which - a fierce wave C can unleash next month - around the time of election result which can take us down to 10k
All wave counts are work in progress & are meant to aid trading
I use count to help in my trading &i am willing to accept i could be wrong
& knowing before hand what i will do when i am proved wrong...
The only thing that are guaranteed in life are Death & taxes....... (Benjamin Franklin )
Also the wave wave 1 that you are considering did it make a higher bottom to be considered as wave 1. Please check your count.
Thanks for the write up , i looked @ your charts & i really appreciate your alternate point of view
The beauty of elliott waves lies in its many alternate views & Discussion
Elliott Waves, provide ourselves with a framework to base our trades upon.
Elliott Wave analysis is an approach that allows us to adjust our market expectation as we get new clues. It is a dynamic approach as i see
I follow Robert miner's approach in elliott wave & i shall provide you with the sub divisions in wave 1 on a one minute chart
I follow Glenn Neely