corner in seconds.,Which in turn can influence moment of stock markets worldwide and
increases volatility. A daunting situation for a trader.
Tracking Nifty waves as of now is no less than solving a puzzle.
Let me give my perspective .
Most of the elliotticians would back my on this when I say this is 4th sub wave of the main
3rd wave started on(5/5).
Lets get closer to 3rd main wave we can see a clear 3 waves in it till 27/10.
So here we reach the present situation 4th subwave of main 3rd wave.
Now in 3rd main wave the 2nd sub wave was a simple Zig zag.
Also since 1st subwave is not equal to 3rd subwave or
3rd sub wave is not equal to 0.62*1st subwave
We probably should have a Flat or a triangle here in 4th sub wave.
Lets get little closer to 4th sub wave
The rise from 2250( 27/10) low to 3240(5/11)high(green arrow)
this wave is 3 wave structure or
5wave structure is a debatable topic,:)
Though what happened after that look clear.
From 3240 to 2860 we did 5 waves down(Red arrow) Then...
From 2860 to 3160 we did 3 up(S blue arrow).
So the fall which we witnessed today should consist of 5 waves down.
The First target of this wave comes near 2800-2780
Second target comes near 2600-2550.
Note..A close below 2860 should open... way for down levels.
Let this happen and I would be ready with next Part Analysis
Regards
Rish
Comments welcome
RESEARCH REPORTS
thanks a lot sir ....
ReplyDeleteSaurabh
Yes, a close below 2860 HAS happened today and next tgt would be 2600ish i.e. 2550 as per you.
ReplyDeleteYour analysis would be very helpful if some time frames were added too i.e. approx upmove in such such days, so downmoves in equivalent or whatever the technicals are ...
thanks,
keep posting.
Murtaza
Predicting time in such turbulent times :) is a daunting task.Though when ever i post any analysis that's usually for the coming one week.
ReplyDeleteYour analysis would be very helpful for us.as i dont know much about technical..........but today nifty touched ur first given tgt as per wave..........
ReplyDeleteI would like to know what happens once it completes 5 wave down ???????????????
ReplyDeletesirji...
ReplyDeletei think 2600 -2500 levels are very much possible...
although EWT wise you would know best....
please guide...
pranam,
wroodrah
one week over .. waiting for next part analysis :-)
ReplyDeleteYes Wroodrah thats a good level to touch before nifty tries something funny:).Achin still some time for next analysis :)
ReplyDeletei think we are on the same count, a 1000 point rally looks probable after a touchdown tomorrow. ABC might end abruptly though. lets see.
ReplyDeleteThe First target of this wave comes near 2800-2780
ReplyDeleteSecond target comes near 2600-2550.
rish sir almost nifty did 2600 today.....cheers.................wt next????.......waiting for next analysis ??????????
http://sahilkaps.blogspot.com/search/label/Gold
ReplyDeleteelliott wave count on gold
sir Now what next targat ?
ReplyDelete