Nifty - Sum of all factors - An Elliott Perspective

NSE:NIFTY   Nifty 50 Index
Sorry for the discontinuity as we were engaged in some other obsessions
Now to the Analysis,
You never understand a movie by missing a half of it, so don't miss it
THE LONG AWAITED YEARLY ANALYSIS ON NIFTY IS BEING PROPOSED & the same is gaining attention of all fellow trader. why miss your seat. check it out here,

After that do revisit this ANALYSIS,
Each & every trader will definitely find this analysis compelling to read & understand
The NIFTY has reversed from its 2015 LOW's & the important idea here is that the upward move is definitely not an impulsive rally, it is corrective in nature - which opens the gate for varied options as Elliott has described in the Wave Principle. The corrections at initiation of the trend have been classified as a Leading diagonal Triangle.
Trade Accordingly at each levels of individual waves & at this point....

Thanks for your time
Dinesh -Senior Technical analyst
LeadBrains FSL - http://www.mytradingcourses.com - Trading education & Training firm


Hi Dinesh, With nifty corssing 8050 mark, what's ur current view?
DineshKrishna SaravananS
check out the updated analysis here..
DineshKrishna SaravananS
Hi saravanna,
apologize for the delayed response. we will Try to minimize the response time as short as possible
we hope that the updated analysis clearly your doubts & clarifies your idea on NIFTY
If you look at the Daily charts of the Nifty, as you have posted. It clearly seems like a head & shoulder pattern, which we have been witnessing over a couple of months on the Index. Assuming in the image, (Z = head) (Y = Shoulder) (X = Neckline). The target is 7500 as it seems. However, if we look at the Weekly Charts of the Nifty, we see an inverse head and shoulder pattern, for which its neckline lies at 7950 , above which it points at 8250. Both time frames contradict
DineshKrishna JayKhanna
Hi Jay, Your question is answered in the video, do check it out here ...!https://www.
DineshKrishna JayKhanna
Hi Jay,
we hope that the pattern that you had mentioned in the daily frame hasn't formed the other shoulder after Z ( head 0 have been incomplete and hence it cannot be classified as H&S Pattern in the daily chart but however the stroy in the weekly charts are quite different that it clearly shows an inverted H&S pattern which do signify the reversal & which is what happening current now...! happy Trading
We appreciate your concern on this & your relationship with us....
Looking forward to help....feel free to ask
i have mentioned things about the patterns( exclusively for you) in the video. do check the link
JayKhanna DineshKrishna
Hi Dinesh, I have posted a similar WXYZ pattern, whereas Z turned out to be a false H&S which was expected since the Weekly inverse head and shoulder was more meaningful since its at a longer time-frame.
For now, Nifty long positions can be initiated above 8270 for targets of 8336 and 8380 to Cover the August - September '15 Gap. Below 8270 we target 8230 and 8207.
Recommendation for the Nifty is long, there are stocks to consider in the BUY such as HDIL, NTPC , KCP , Triveni.

DineshKrishna JayKhanna
yeah that's true Jay, weekly charts impose more control & Its more meaningful too...!
If Nifty breaks 7700 and closes below it then it will go down towards 7400.
Hi Ambrish, one important thing to note here is that the current move is downward as per the Elliott wave analysis - my advice is that don't be too concerned about the levels. there are also chances that nifty will reverse its current downtrend from 7543 (38.2%) & the most important area is 50% R. therefore The high Probability @ this time is that downside has its yet to be completed but as you said have an eye for 7700 to break with close so that it will be a double confirmation resulting in good Risk reward ratios
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