ELLIOT FORECAST FOR 16 JUL 20

ANALYSIS BASED ON TECHNICAL PARAMETERS (NO NOISE)
NIFTY TODAY WITH A GAP UP REMAINED BULLISH AND FILLED THE GAP CREATED YESTERDAY CONVINCINGLY. EAGERNESS TO FILL THE GAP IN THIS CASE REVEALS PSEUDO BULLISHNESS. NOTWITHSTANDING MUCH ANTICIPATED RELIANCE RESULTS AND SUBSEQUENT SHARP FALL FIZZLED OUT ALL THE EUPHORIA CREATED THROUGH OUT BY THE NEWS ANCHOR...BACK TO CHARTS TOMORROW NIFTY WILL AGAIN IN SUB WAVE CORRECTIVE MODE...AND NIFTY LIKELY TO EXPIRE NEAR 10500-10550. THAT'S WHAT MY ANALYSIS INDICATES AND I PERCEIVE....
VIEWS ONLY FOR EDUCATIONAL PURPOSE.
TRADE AS PER OWN RISK ASSESSMENT.

Comment:

MARKED A VERY IMPORTANT LEVEL IN THE CHART...I AM SURE YOU MUST NOT HAVE CHECKED IT...ANALYSE IT AND KEEP AN EYE...LEVELS ARE SUGGESTIONS I MAY BE WRONG...THESE ARE PROBABILITIES
TRADE AS PER OWN RISK ASSESSMENT