Elliottician
Long

ELLIOTT WAVE ANALYSIS _ NIFTY INDIA

NSE_EOD:NIFTY   Index of the 50 listed India companies
If you had referred to my previous idea--
NIFTY ELLIOTT WAVE ANALYSIS _ INDIA
, you would've noticed that NIFTY             moved exactly as speculated. When I was analyzing individual stocks today, I could see most blue chip stocks getting ready for a bullish move. I came back and studied the wave count of Nifty             . As expected, I found the price to be at a 0.236 retracement level from wave 0. I can suggest my viewers to go long as and when needed from this level. The next target for nifty             would be 8736. The current price is 8181. If nifty             moves below 8135 in tomorrow's session(Monday, 4th May 2015), the count is invalidated and everyone can resume taking SHORT positions. If tomorrow closes positively, then we can see a BULL market for +550 points.

Final Conclusion: Do not trade on 4th may 2015. Watch the prices.. If we close positively, then be confident and start taking long positions till notified next on tradingview.com by me.

Trade well.
hi.. yes same bounce is over due
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have checked gbpinr and usdinr... u r view ? on this pair
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Sorry mate, I dont follow indian currency pairs because of limited liquidity. But a preliminary analysis of the weekly charts suggest we could go upto 70 against US dollars by the next three years.
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Thanks for the sharing your views on Nifty..
+1 Reply
Thank you very much. Well timed advice. :)
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price action subtest 8000/7980 spot swing area possible
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mkdeep04 mkdeep04
sorry discard above .. for now... 85xx coming first
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Yes.. We do have a minor resistance at 8507. But in my opinion and experience, wave 2 which is currently forming can exceed much beyond the minor resistance. So let's watch.
+1 Reply
Omidtrades Elliottician
Hi , Please share your view after today trade...NF fall 227 point...
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Elliottician Omidtrades
Nifty target adjusted to 7600
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Any update on NIFTY after today's trading? TIA.
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Elliottician praveenvs
Nifty target adjusted to 7600
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praveenvs Elliottician
Thanks !!!!
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