Friday, November 18, 2011

>Nifty elliott wave counts

Turbulence galore!!!
In my last nifty post nifty analysis had mentioned about Y ending in 4700-4600 range
we reversed from 4700+-20 points,Had categorically written about a good relief rally .
We did see fantastic pullback(4700-5400)a three wave move suggesting another complex
corrective wave.The following chart shows that.
The first chart shows the 3 wave up X relief.The second chart is weekly which is showing the
expected abc unfolding over next few months,a can be finishing near 4700+-50
b can go back up to 5000+-50 the final c can go to 4500 levels if it stretches then 4200-4000.
The point to stress here is you see each abc retraced 60% of previous abc ,Which usually happens in complex corrections,That's the reason we are yet to see panic in Indian markets as the rises retracing the drops upto 60% and dropping again so a slow drop nevertheless lowertops continuously !!!!!!,Would update if market does something else.

RESEARCH REPORTS

7 comments:

Anonymous said...

keep it up.
keep them coming helps in understanding EW more.

Admin said...

Fantastic analysis there and as always on the spot. Simply Amazing.

I followed your Tata motors analysis and that was exceedingly accurate too. Please teach us how to fish. Would love to learn EWA, please provide me some good pointers in the right direction.

Anonymous said...

nice

Shiree said...

Excellent keep it up.

Achin Jain said...

good one Rish! keep sharing the EW options!

Anonymous said...

nice

vikram a g said...

hello rohit,

i have done my analysis a bit on nifty this weekend, Looking forward for your comments

http://niftyewa.blogspot.com/2011/12/weekend-update-on-nifty-16th-dec.html

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