Elliot wave Analysis of Nifty (Election special)

Elliot wave Analysis of Nifty (Election special)

MONTHLY CHART

 

 

 

 

 

 

 

 

 

LONG  TERM  OUTLOOK

Nifty is in a long term bull trend.     Inner wave (iii) is now in progress.   The Bullish view would be negated only if Nifty breaks below 9119.

DAILY CHART

MEDIUM TERM OUTLOOK

Nifty is in a long term bull trend .  The inner wave (iii) started from 6827 is near to the fag end of 5th wave which has target in the range 11605-12615.    In which 11605 already achieved and the next target would be 12110-12615.

HOURLY CHART

SHORT TERM OUTLOOK

Nifty is in a long term bull trend .  The inner wave (iii) started from 6827 is near to the fag end of 5th wave which has target in the rage of 11605-12648.    

The 5th wave that started from 10004 is overlapping and not clear and therefore difficult to count.  However,  we can say that the final 5th wave that started from 10004 is near to completion in the range of 11638- 12648.  In which 11638 already achieved and now the next minimum target would be 12143 which can further extend towards 12648.

Reversal point for the short term would be 11108. 

No trading recommendation is done due to high option premium which would be crushed once the election result is out.

Disclaimer:

Trading strategy suggested in this report is just to show how one can forecast markets using various rules based on Elliot Wave counts for practical trading with good Risk Reward.  These trading strategy are not trading recommendation.  Any trade based on these trading strategies will be at your own risk and we are not responsible for any loss or profit for the same. Take your own decision. We are not SEBI registered company and we are not providing any calls.

 

 

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