Analyzing SGX NIFTY FUTURES for future movement of NIFTY INDEX is a good IDEA.
Here ALSO the 'B' wave of 4th wave completed at 12821.
next would be ABC down leg to unfold. since 4 th wave B has gone more above start of A ,we can expect a running correction (0.618*A) 11523 or an Expanded or irregular correction(1.618*A) 10156.
Having our GOVT anounced...
As per Elliot wave theory correction waves will end at exact fibanocci ratios like A=B OR C=1.618*A
Nifty complete its wxyxz Triple Zigzag correction and the final wave Z is A=C now.at 12770
any break upside will fuel nifty to exend Z wave, The announcement of 15% GDP Stimulus yesterday has no gas
muhurat Investers are the only hope tommorow.
Money is the...
Last week nifty able to reach minimum retracement of 38.2% of wave A. RBI statement doesn't boosted nifty to rise further. we had 4 weeks of recovery and nifty is in over bought level.As everybody think of bullishness returned in NIFTY, we shall think contra.hence my view is Nifty will unfold its C wave of expanded flat that will bring Nifty to 8200 level.
SINCE market reaction is dynamic ,I DONT SEE ANY UPSIDE (ABOVE 9134 IN DAILY CLOSSING IS REQUIRED for bullishness)
the next alternative count is unfolding of WAVE 'C' the 5th wave down
SHORTING will give good benefits. till april 24
The ferocious Wave (a) completed at 7610 from 12080 for 21 days, now the recovery wave(b) under process in ABCDE pattern,
if tomorrow closing more than 9134 (trend line resistance 9200) we have more uptrend.
So watch for tomorrow(Monday 13th april) and trade accordingly
Our final target will be 50% of the total fall(9845 on april 24th)
TODAY WAVE 4 COMPLETED. Monday wave 5 correction will bring nifty to 8342 level as shown in my chart. but wait do not short nifty, rather buy NIFTY after 8342 respected (not breached). you may be in the jet which is going up. see the next move to capture the shorts.
My last post disappointed many shorters but this time it may not.
momentum divergence also support my count.SENSEX making DOUBLE TOP
wait for confirmation,/// breaching the bullish trend line/// and setup your shorts,for quick money in options .better buy july puts
if any doubt, clarification i am ready
When I said the target for NIFTY(9400) about two months ago nobody(including myself) benefited by keeping long position.
No wonder that is human psyc.
NOW see the chart for 5 completed motive waves,the WAVE 5 is struggling to pass 9375 which is 0.618 times of wave 1
next week we have a definite answer. the MAGIC number is 9220.
if 9220 supported we have another...
A bullish 5 wave up move completed @9218 .An handsome reward to my followers.
elliott wave prediction gives you freedom of fear in all type of finacial assets.
now its time to take opposite position.
waveA ,B completed today@9169(target for B wave(0.786%of wave A = 9174 not breached)
Simply take a short position and relax for a week.
let us meet after 1st target of 8969