tdurai84
Short

NIFTY 50 ELLIOTT WAVE ANALYSIS 02 MAR 2017

NSE:NIFTY   Nifty 50 Index
Hi,
NIFTY             approaching strong resistance zone 8975 - 9018, Wait and sell on 9018 level. If this level is not reached by today we can expect further correction upto 200 points.

Today is major GANN pressure date, today we can get reversal on 9018 level. If this not happen means wait for another one month upto APRIL.

But long term view market fell to 6725 with in Year from reversal date.
@tdurai84 Nifty is above 9018. Does this negate your view ?
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@tdurai84 Due to the event of UP elections, if Nifty goes beyond 9018; is this analysis still valid or does this event negate it ?
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tdurai84 SatishBoda
@SatishBoda, All events are factored in, If Nifty touch the 9018 level we can expect correction to 8700 level... right now beyond 9018 level not possible, 8700 is poosible right now for another 10 to 14 days....
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SatishBoda tdurai84
@tdurai84, Since there will be euphoria on 14/3; perhaps we can expect down move from 16/3 onwards. Trying to predict movements.
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@tdurai84. Your level of 9018 is reached in NF but not in Nifty. Should it be considered as reached as there can be some plus or minus in the numbers ? or Will Nifty make one more move towards 9018, where we can enter shorts ? Appreciate your opinion.
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tdurai84 SatishBoda
@SatishBoda, here all levels i mentioned are spot only. Dont consider future price. If nifty not touch that level today we ll get some correction nearly 200 points. Nifty enters into range bound 8975 - 8775 levels for couple of days. Then it ll test 9018 level.
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tdurai84 rupambose32
@rupambose32, wave 1 is completed on not 17th may that corrective wave (2) of b's high... wave 1 completed on 12th MAY. I am already gave comment on IMPULSE and CORRECTIVE structure. Impulse are odd days, corrective structure are EVEN days. here after any questions ask me...
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tdurai84 tdurai84
@tdurai84, there is 11 points diff between wave 1 and 4.
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wrong count,in 17/05/16 wave 1 is overlap by wave 4,please recount
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