Writing a post after quite sometime,
Here in nifty we saw tremendous rise considerably more than world mkt
counterparts reason being Election that single day rise took nifty ahead of
other world mkt indices.
Lets look at Important Indices.
Nikkei(JAPAN)
Nikkei chart looks quite same as nifty structure wise 3 waves up some consolidation
and again up near 3rd wave top need to keep this index under watch for next week or
so to figure out whether it makes a new high or goes again into consolidation.
Hang Seng(HONG KONG)
Hangseng is one index which is ahead of all discussed indexes herein wave terms ,We can see clear 5 waves here the attached chart can be seen to confirm the above.
I personally feel Hang seng moves affect nifty much Hangseng would be the first index
to topout here in Asia.Track this Index closely to get clues about move ahead.
Dowjones(USA)
Cannot figure out much from dowjones chart apart from that its still trading above
the slanting trendline.
Nifty(INDIA)
Our very own nifty has traveled much distance compared to other Indices Thanks to
morale boosting Election results. Wavewise 3rd is finished for sure the present consolidation
has to be 4th and till nifty cannot breakout to make a new high and sustains above it,Things
won't be easy ,Here i would say world mkt clues should help alot to figure out what could
be next in store.
A chart is attached to show the same.
Hope this clears the doubts in traders mind ,One moe important point nifty witnessinghigh daily turnover ,Do add up if i have missed out some thing.
Regards
Rish
RESEARCH REPORTS
Please tell the 5th wave target for Nifty and what can be max downside if this is 4th wave as per the current scenario.
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