raj0778

Nifty 50 analysis for 01 Dec

Short
NSE:NIFTY   Nifty 50 Index
The move from 12790 to 13035 was a motive wave .. Yesterday, Nifty commenced its corresponding corrective wave and the same unfolded in a 3 wave pattern, suggesting that the pattern would end up as a flat/extended flat correction .. Wave A of the pattern appears to be complete .. Expecting Nifty to open gap up on Tuesday ... Depending on flat/extended flat correction , Nifty would reverse from either 13035 or 13065 levels with targets as 12915 and 12885 respectively .. From there, the bull run should continue .. Watch out for important time zone of 1220 and 1255 hrs .. Support and resistance for the day has been marked on chart.

Comments

NOW A DAYS THERE ARE EXTREME OPINIONS REGARDING NIFTY FUTURE COURSE. SOME ARE STRONGLY BULLISH WITH TARGETS ABOVE 15000 WHILE OTHERS ARE HIGHLY BEARISH GIVING 8000 TARGET IN 3/6 MONTHS . BOTH CLAIMING ELIOT WAVE EXPERTS.WHOM TO BELIE IS A PRO BLAME.
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raj0778 ckirtane
@ckirtane, absolutely right bro .. Though m not an expert on the subject, being just a humble learner of EWT, i personally feel that 8000 is out of question and targets of 15000 looks achievable .. But before that, expecting some amount of correction at the levels of 13500-13700, which may happen in Dec .. Rest, market is above all n is the best teacher
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