Nifty: Is all hope lost?
Nifty broke through the key 8655 level, yet has failed to sustain above the level for too long. Also another attempt to move above the T1 trend line failed. Chart Below: The 8530-8535 levels in Nifty is key. If Nifty manages to stay over these levels, there is every possibility that […]
Nifty has seen a sharp reversal by the end of the day. The high made by Nifty was around 8645, eerily close to the crucial 8655 level we have mentioned quite often. Chart Below: The exuberance created by break of 8587 level has met a similarly sharp response to the […]
Nifty Short Term Update
Nifty bounced from the key 8478 levels mentioned in our last post. The bounce should not be taken seriously unless it crosses 8587 level. If we are in a correction of a continuing up trend we should ideally stay above the 8478 level, and head higher by ultimately breaking the […]
Nifty Update & Stock Out-performance Lesson
Since our last post Nifty has managed to keep its upward momentum intact without any major correction, except the one today. This correction has developed around an important trend line (T1) as shown below: This trend line (T1) should be closely observed as we would need to witness substantial strength […]
Nifty correction wasn’t able to break the crucial level of 7896, and has since managed to break above the crucial 8300 level. Chart Below: This move is likely a wave (v) move as part of wave 3 or C. As readers would recall we had mentioned in one our […]
Stock Ideas: Astra Microwave
Astra Microwave Products has been trading in a range for more than a year, in what looks like a corrective formation. Chart Below: Legs A & D measure close to .786 of leg C. There is a high probability that we have finished the final leg E of the correction and […]
Nifty Post Brexit Strategy
Nifty’s sharp fall on Brexit outcome took support at 7936. It managed to stay over the crucial support of 7896 mentioned in our Nifty medium term wave count report. This report mentions 7896/7715 as crucial support in determining our most preferred wave count. We will continue to watch these levels closely. […]
Nifty prepping for whipsaw on Brexit vote?
Ahead of Brexit vote, Nifty seems to be prepping for a whipsaw action. Chart below: Nifty may be in a triangle correction as part of wave 4. There is a possibility of prices testing the 8350-8400 zone if a breakout from this triangle materializes. Such gains though may be sharply […]
EURUSD: Fate is sealed. Brexit or Not!
Here is the long term EURUSD elliott wave count: The wave count tells us that we are in a long term wave III down trend. Wave 3 within this wave was very close to 1.5 times the magnitude wave 1. The rally in EURUSD since 2015 is part of corrective […]
Nifty & Sensex: Brexit Strategy
Nifty & Sensex managed a volatile week which was characterized by sharp gap opening actions. For 4 out of 5 days we saw indices open gap down or up. Characteristically all these gaps were subsequently filled. This points to these gaps being area gaps which indicate some kind of congestion […]