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.

Comments

You may have to relook at your counting at certain areas in your chart.
1. 4th wave does not enter 1 territory as per wave theory. ( June 2016 in the chart)
2. A B C wave structure from Sep 2016 - Dec 2016 ( It is more complex than the way represented)
+1 Reply
tdurai84 rajivghosalkar
@rajivghosalkar, check the wave degrees and colors of wave count, in june as per my wave that is 3rd of 1, that is not wave 1.
Reply
@tdurai84,
Is (3).4 permitted to get in (3).1 zone?Looks like you are feeling offended by my comments. You need not reply.
Reply
tdurai84 rajivghosalkar
@rajivghosalkar, I mentioned (3) of 1 completed on 12 of MAY, that high not met by wave (3) of 4. I think u considered 17 may High, that corrective upside for wave (3) of 2
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tdurai84 rajivghosalkar
@rajivghosalkar, there is 11 points difference in bet wave 1 high and wave 4 low. take 12 may as wave 1 high, 17 may high is corrective wave high
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@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 ?
Reply
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....
Reply
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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