NIFTY
Nifty & Sensex Update
Nifty & Sensex rally managed to achieve the gap based target around 7972. We have seen some correction since then and we are trading around 7900. We see this correction as short term in nature which is good considering that Nifty has traveled from 7585 to 7977 very quickly. This […]
Nifty & Sensex: You should be alert to this major market signal!
Nifty & Sensex have managed a splendid rally in the last 2 months. In course of this they have achieved many of our major targets. Our 2nd March post: Nifty breaks out providing confirmation alerted readers to a pattern based target of 7900. We also alerted on a gap measuring target […]
Just Dial: Power of Wave Analysis in dealing with incomplete data
Just Dial got listed only around second half of 2013. Which means trading data is only available since. This makes the data set incomplete as far as application of elliott wave analysis is concerned. But if you can get hold of basics, you can still find ways to make profitable […]
Nifty & Sensex Update
Markets have seen a sharp correction from 7784 levels (25479 BSE Sensex). The prices have respected the trend channel that has been in play since March ’15. This was the correction we have been expecting that should mark the end of wave 1 & develop into wave 2 correction as per […]
Nifty, BSE Sensex, USDINR End of the week Update
Nifty & BSE Sensex have encountered resistance at important levels. We mentioned in our last post how 7745 & ultimately 7800-7820 (upper end of the trend channel) may be important levels for Nifty. We saw markets crash sharply from 7745 & equally sharp rally back, markets pulled back from 7777 […]
Nifty Short Term Update
Nifty broke above the crucial 7541 levels but failed to sustain above it as it sharply reversed its gains after hitting a high of 7582. A break of of 7461 level on the downside should be used to exit any initiated long positions as it may indicate an extended correction […]
Nifty Congestion Breakout Awaited
For the last few days, Nifty has been trading in a congestion zone of 100 points. The last correction of this magnitude in Nifty played out intraday on 29-Feb. This was a wave 2 zig-zag correction as shown in the chart below. Current congestion is likely part of wave 4 […]
Nifty breaks out providing confirmation
We have been tracking two trend lines for quite a few days now in hope of finding an important confirmation signal. The T1 line has reinforced its importance time and again with markets refusing to stay below this line for long. The market rally for two days meant that yesterday […]
Nifty Whipsaw Budget Action
Nifty has seen a volatile whipsaw budget action, that has essentially brought the market back to where it started after posting a new low. Price are back into the corrective channel that has been play since March of 2015.It has also closed and managed to stay above the T1 line […]
Nifty: Markets evenly balanced
Much like the parliament, markets have seen a lot of drama without much progress. Nifty reversed from the key level of 7241 outlined in our last report. But significantly enough managed to stay above the low of 6960, thus still keeping the hopes for bulls alive. This is even more significant […]
