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In a world that remains confused looking at US market volatility and news flow every day about problems we are missing what the market is doing today. This nifty chart shows a pullback in wave ii that took support on the rising trendline after a 61.8% retracement. Shouldn't this work? Or should we get scared about our analysis because today the Dow is down...

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After a 5 wave advance the Nifty PSE index , is making a higher high. The implications are that the move upwards is not over and extending into multiple legs. 13 waves or 17 waves only time will tell. We know that it is not over and that is a good starting point.

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We started to write about the ending pattern ni the Nikkei in late July, but if time was a science we could have said it will take another month to complete. The pattern did not change only the point where wave e ends did. We now have a breakout and a strong rally for Japanese stocks as the next impulsive rally begins. Japan longer term is a turnaround market in...

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After 2 failures to hold on to the upward trend and corrective rallies, it is clear that this bull has no bones. The dollar index has been in a bear market since 2018 and each attempted rally has failed. This time is no different. The dollar bulls are about to make the most classic giving up of their opinion and they will do it all at once. It will be a meltdown...

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The decline in NIfty inside a channel in perfect A-B-C was a signal that we were not falling impulsively. In other words, the larger trend is not down but still up. This small piece of evidence goes a long way in taking decisions amid all the noise in markets these days. It clears the head and offers high probability outcomes. It is very basic to Elliott Wave...

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Nifty completes ABC and retraced 78.6% back to the gap support at 14421. All good to resume the uptrend unless we get a 5 wave decline. 3 wave declines are counter-trend and that means that the larger trend is up

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Nifty witnessed its daily momentum going back to buy mode. The hourly chart above shows an attempt to break out on the upside of this triangle that would be successful once we close above 14770. an impulsive move upwards has been presumed from the low of wave E and apart from any small dip should continue to drive us higher. The only thing still missing are...

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The existence of a Triangle in an Elliottwave sense tells us many things. Typically a consolidation that results in a continuation of the previous trend. In this case, the breakout above 14900 on a closing basis would result in a sporadic rally.

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After a 3 wave correction the nasdaq composite managed to move up in what even I thought maybe 3 corrective. But maybe it is a leading diagonal and that changes everything. We have extensions long term and a new impulse wave up in wave 3 of 3 started for the Nasdaq. Then it changes the entire perspective for stocks. Bullish gaps as of now typical with 3rd waves

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Nifty bounced back to complete a 50% retracement of the fall and that can still be marked as wave B of a zigzag, or 5-3-5 fractal pattern. The next move should be wave C and 5 waves down from 14600 that can attempt to go to 13900 or 13600. Staying below 14600 is key

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The sell off we are seeing is wave A of an A-B-C decline from the recent high, and that is in wave iii and wave iv would be a 50-100 point bounce at the most. Wave v of A may go to the lower end of the falling channel near 14100.

indiacharts Updated 

As long as bank nifty remains below the wave i low of 14430 we cab mark the recent development as wave iv and wave v down of an impulsive decline maybe pending that can take us back to 33000 or lower