Nifty elliott wave counts

Nifty at crossroad which way its gonna tilt,

Lets see possibilities we have.

We have 2 possibilities here first one a impulse down from top happening and we finished 4th at todays top.

This is more bearish case ,Impulse down usually suggests more pain after some pullback.

Lets see the other possibility.

This is corrective count which suggests once this correction gets over we head higher.This is wxy correction abcs connected by x wave ,Lets see which count plays out in coming days.

Maruti elliott wave analysis

I was excited to see electric vehicle with Maruti suzuki logo on it in 

global mobility summit ,A company needs to be with future technology,

Maruti has come of ages which is seen by the wonderful rally seen in stock 

price across many years.

Maruti the pattern has been evolving and the wave count is settling 

accordingly. I had written about it in july Maruti elliott wave analysis.

We did get a rally above 9230 ,The stock rallied till 9468 and then broke

back and went below 9230.Lets see the chart pattern now.

The above chart shows the rally till 9468 turned out to be b wave of abc fall and now c wave fall underway ,The stock has good support range in 8630-8540 range ,If stock goes below these levels,The wave count stands negated.

hdfc elliott wave analysis

HDFC has corrected from 2050+ to 1880.

Lets see the chart pattern how the waves are unfolding.

Lot of abc's in hdfc .The structure suggests a move towards 1960+ atleast as long as 1905 holds,Lets see how the stock behaves.

Indigo elliott wave analysis

Aviation sector got badly beaten in in last 3 months.

I had written about Jetairways elliott wave analysis.

The stock has fallen alot.Lets check the other stock from the sector

Indigo.

The stock did a leading diagonal and brokedown .The stock fell from 1500 levels to 870 levels in matter of 3 months.The stock has good support in 850-830 levels and is good level to accumulate.The stock can rally back to 1000+,A close below 800 is the risk to this wave structure.