joel-vg
Long

The road ahead for Nifty

NSE:NIFTY   Nifty 50 Index
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Is Nifty going to touch 11 k ?

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 Elliott wave 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 )
Please check if this is B wave or C wave. Consider 10140 to 10700 as wave A , 10700 to 10040 as wave B, 10040 to what is happening wave C. Check length of wave b in comparison to wave A(125% retracement) and check rules for length of wave c in this scenario.

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.
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joel-vg snazre
@snazre,

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
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snazre joel-vg
@joel-vg, Yes I do agree with your views. The purpose of publishing ideas is to share and get different view points.

I follow Glenn Neely
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joel-vg snazre
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