Nifty 50 IndexUpdated ELLIOT FORECAST FOR 13 AUG 20
ANALYSIS BASED ON TECHNICAL PARAMETERS ( NO NOISE)
NIFTY TO DAY WITH A GAP DOWN COMPLETED WITH ITS CORRECTIVE WAVE AND AND COMMENCED WITH ITS MINOR IMPULSE WAVE. YESTERDAY WE ANTICIPATED THAT THE CORRECTION WAS COMPLETE..BUT IT WAS NOT....A BIT OF SURPRISE..BUT THAT DOESN'T TAKE THE UPTREND IS DISTORTED AND LIKELY MOVE FOR MAJOR CORRECTION."NO" STILL BULLISH AND CONVINCE THAT THE UPTREND IS STILL IN CONTINUATION.TOMORROW NIFTY WILL BE RANGE BOUND,MAY BE DUE TO EXPIRY EFFECT...AND CONSOLIDATE...
ASSESSMENT ONLY FOR EDUCATIONAL PURPOSE
TRADE AS PER OWN RISK ASSESSMENT...
NIFTY TO DAY WITH A GAP DOWN COMPLETED WITH ITS CORRECTIVE WAVE AND AND COMMENCED WITH ITS MINOR IMPULSE WAVE. YESTERDAY WE ANTICIPATED THAT THE CORRECTION WAS COMPLETE..BUT IT WAS NOT....A BIT OF SURPRISE..BUT THAT DOESN'T TAKE THE UPTREND IS DISTORTED AND LIKELY MOVE FOR MAJOR CORRECTION."NO" STILL BULLISH AND CONVINCE THAT THE UPTREND IS STILL IN CONTINUATION.TOMORROW NIFTY WILL BE RANGE BOUND,MAY BE DUE TO EXPIRY EFFECT...AND CONSOLIDATE...
ASSESSMENT ONLY FOR EDUCATIONAL PURPOSE
TRADE AS PER OWN RISK ASSESSMENT...
Note
OPENING OF NIFTY AND SUBSEQUENT MOVEMENT INDICATES LIKELY CORRECTIVE STANCE....BULLISH VIEW GETTING NEGATED...ONLY IF HIGH BREAKSNote
BEARISH SENTIMENT BUILDING UP IN NIFTY...DOWNWARD MOVE EXPECTED IN NEAR TERM...MAY REVISIT 200 DMA
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