NIFTY
Nifty Update
In spite of sharp fall in Nifty neither of our elliott wave counts can be completely ruled out. The price substructure right now also seems to be insufficient to take a conclusive view in either direction. In such scenarios the only option is to wait for important levels (mentioned below) […]
NIFTY & SENSEX Update
You can watch our latest update on youtube or read the transcript below: Transcript: In our last youtube video we talked about two scenarios. Our assumption of the then price action being part of an ending diagonal pattern was nullified on break of 10830-840 levels. As outlined in our video, […]
Nifty Elliott Wave Update
Nifty made a low of 9341 around May 24 and has rallied since. We have shown the probable (and alternate) wave count below: In all probability wave 1 (part of the larger wave 3 that started from demonetization lows) ended around 9520 level and was followed by a complex correction […]
Can Divis Lab USFDA alert be a contrarian opportunity?
Divis Lab was hit by US FDA import alert recently. To be sure its pretty serious but the famous Seth Klarman once said: “You must buy on the way down. There is far more volume on the way down than on the way back up, and far less competition among […]
Nifty Update
Nifty has rallied higher since our last update, but the market hasn’t been able to extend this lead much further in the last 7 sessions. In the process Nifty crossed the first target zone outlined in our last update, but so far hasn’t been able to reach our second target zone […]
Nifty Wave Count(s) & Union Budget Strategy
Nifty fell from a key level outlined by us, but failed to develop an impulse move to the downside. This resulted in a major rally that may have substantial implications. Below is a probable wave count for the fall since September. We were considering this to be a low probability […]
Nifty Update
Since our last update Nifty has seen a sharp fall and markets have traveled from 8600 levels to close to 7900 levels. We have seen some kind of a relief rally over the last 3 sessions. Chart Below: We will continue to remain skeptical of this rally, though Nifty can […]
Nifty: The short term trend channel you should observe
On Thursday Nifty created another gap thanks to a gap up opening. This gap ended up being closed as well by Friday. This gap creation at open and subsequent close has been the prime characteristic of the market since a couple of weeks. This has also meant that the market […]
Nifty: A tale of two Gaps
Nifty broke below the crucial 8720 level and made a low of 8688. Since then Nifty has rallied to 8846 before reversing sharply. In this process it created two Gaps as shown in the chart below: The rally on Friday attempted to fill the Gap 1 but failed, instead ending […]
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 […]
