>Nifty elliottwave analysis

Hi friends,
                  Last month  on 23rd may nifty 23rd may  had told about a significant top at 6200+ when the clamor was high for 6400,6500 etc,There were very few takers but today near 5800 many have woken up to the reality,This market is not the normal bull or bear market many seasoned investors or traders would have understood this nifty remained near all time high but mid caps and selected large caps went even below 2008 lows,Nifty got strength due to ITC,HDFC and HDFC bank scaling new highs whereas mid caps kept on getting butchered.
Looking at the present structure and the way stocks react to moves,I can figure out that nifty could be in for making a ending diagonal ,You see whenever a upwave starts it looks like it would go on and on but then it abruptly ends and starts a down move which again looks like would not stop and abruptly again starts to move up.Keep reading blog would post the long term view in sometime waiting for a big confirmation for the wave count.

Happy trading..

>Nifty premarket 11th june..

Hi friends..
                    Yesterday expectation was that in D wave we would make a wxy but it seems D ended at 5972 only so now nifty should target 5850-5800.Lets see the move .

Happy trading..

>Nifty premarket 10th june

Hi friends,
                  Fridays expectation was a retest towards 5900 and rally towards 6000 ,Nifty followed the flow but overshooted the downside target.
friday move completed one abc looking at structure after abc it looks like we making an x wave so probably we would do a wxy if Thursdays low holds.

if low of thrusday ie 5869 gets violated we would be targeting 5800.wxy is the preferred view.

Happy trading..

>Nifty 07th june

Hi Friends,
                   Nifty took support in 5900-5880 range and attempted 5950 twice now if 5900 holds we would head higher for next few days .
Wavewise we have finished small 5 up from yesterdays low today can be some consolidation followed by rise.

The d wave target is reducing daily as nifty dragged down a bit and took time now the trendline comes near 6000.

Happy trading..