This is the start of Wave 5 : After touching its low of 6825 !!
Wave 1 of wave 5 has broken its upper trendline support !! Now it needs to cool down as it is now overbought on Daily charts --
Expecting 7500/7400 as end of wave 2 in coming week by 11 May'16 !!
Once Nifty breaks the upper Trendline again it would confirm start of Wave 3 of Wave 5.
Some...
Its very rare to squeeze out very good risk reward ratio's while trading with cyphers. Even sometimes we may have faced situations like inverted risk:reward in cyphers.
But we have rare chance, where the bearish cypher on NIFTY 50 offering risk reward 1:3(approx.).
Cyphers D leg in Nifty is now on par with X. As all conditions of cypher is still valid its good...
Points Noted in the Chart,
1. Elliot Wave 5 Impulse leg completions
2. Bearish Crab Pattern Completion
3. RSI in Overbought zone
I would wait for the next bearish candlestick for the confirmation.
After Confirmation,
T1: 2342
SL: 2610
NIFTY has been trading in a small range since 2-3 weeks. I work on a proprietary system to generate BUY/SELL signals. The signal has been to go short and that NIFTY will not go beyond 7800 till the end of May 2016.
Target of 8000 is achievable in months to come. It just depends how it will reach there.
I have put two different type of situation to rally up to the said level.
The market can turn around at this point to 7240 and then rally back to 8000, or else other marked way.
It is good to note that market has begun its uptrend and now it is a matter of how well it...
Expecting NIFTY to sink. ::: RISK CALL :::
STOCHRSI is rising.
RSI is rising.
CCI is rising.
We are expecting a reversal in NIFTY and it may sink with great speed. Short Bellow 7358, 7295, 7008, 6945 Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
POINTS NOTED ON DAILY CHART,
1. Bullish Divergence of previous support
2. Trendline confirmation
3. Breaking news to support buyers, (BHEL bags 5600cr order in Tamil Nadu)
Nifty is expected to sink now.
There are many reason why we feel it may sink.
01. It is already trading below quarterly Target 03.
02. Bearish Engulfing in weekly chart
03. To sink and come near 6943 to 6880
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the...
Points noted on Daily Chart,
1. Head & Shoulder Pattern completion with confirmation of high volume selling at previous resistance level.
2. Double Top with Bearish Divergence in RSI
3. Risk & Reward ratio at great deal
In my opinion, this one is a short for now.
Right now, there are two possible scenarios
1. Nifty breaks previous low of 6870 and reach to strong support level at around 6600. (marked in Red Arrows)
2. Nifty goes up to 7125 levels and then break above close above resistance level of 7240. (which can be a trend reversal for nifty) marked in Green Arrows
Therefore, it is a close watch at nifty and stocks...
Continuing from the monthly forecasts in the website, an elliott wave analyst can observe the same as we do, the nifty peaked at an all time high of 9119.2 on mar 2015, the downfall is around a year and when will it end...?
obviously an traditional trader doesn't have answer for this question but the perspective that elliott offfers is significant & different and...
Nifty0.26% has formed a BULLISH HARAMI on weekly basis. We are expecting NIFTY0.26% to gap up on Monday and may stay long through the futures expiry on 25 February 2015. futures may touch 7330 to 7365 levels.the same has been confirmed by Stoch RSI , RSI & CCI . The above is our personal view. It is not a tip, Nor a proposal to buy/sell , Please consult your...
