SP500 / US500 has been all messy & choppy -if upside rally stops in 3450-3475 then we expect down move with initial halt close to 3300 level & dropping further can take it to 2935-2950 ------------------------------------------------------------------------------------------------------------------------- NASDAQ 100 - Head & Shoulder at the top-12440 High (Bearish Outlook) ----------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------- India Nifty Market Commentary ----------------------------------------- India Nifty was struggling to move above 11900 post-gap-up move & whole of the session was all up before dropping sharply in last hour might be showing its intension that domestic & global markets all may get ready for a move towards south.
India Nifty has moved up recently as X-Wave (10790 to 11905) -looks like an irregular correction & could be heading down in Wave-Y if holds below 11870/11880 zone
Hi Abhishek
Isn't this an impulse from 10800 levels?
Looks impulsive, but has the internal structure of a corrective? Would love to hear your thoughts
WaveTalks
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@dummyaha Will consider this as Impulse when it crosses above 12435 (shall be neutral between 11900-12450) the level when Index fall started in Jan2020 and Global indices gives new highs like Dow/US500/Nasdaq
no_aha
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@AbhishekHSinghCMT, oh ok. Correlation with global indices! Interesting. Surely improves the probability.
Lot to learn from you :)
rajesh51975
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Sir Nifty 11905 top it can Reach 38.2% or 50%
WaveTalks
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@rajesh51975 This has no answer at the moment as more confirmation is required
SunnyHillCapital
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Well done with the Elliott Wave analysis, have a similar view here. Thanks for sharing!
raj0778
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A doubt, how can Wave X be larger than Wave C of Wave W ? The moment current wave crossed 11620, it technically can’t be called Wave X ... if at all, we r still in a corrective phase, the present leg would be Wave B of an extended flat in which case one should be witnessing an impulsive decline back to 10800 or even lower
Isn't this an impulse from 10800 levels?
Looks impulsive, but has the internal structure of a corrective? Would love to hear your thoughts