NIFTY

We saw a fall in Nifty last week, which was followed with a surge in the Friday session that may raise some doubts over our medium term outlook of the fall. However, I still continue to expect a wave C fall over the medium term as long as we hold […]

Since our last update Nifty has bounced from just above the 10400 level and has spent the last few days in a range. I’m still seeing this price action as part of E-leg of the triangle. I still expect the prices to at least dip below the recent lows around […]

Nifty failed to sustain above the 78.6% level around 10909. We have seen sharp reversal since. We are still seeing this fall as part of E leg of triangle. Now that we have seen the completion of D-leg, we can do more accurate Fibonacci calculations for E-leg. Typically E-leg should […]

In our last video update we said that Nifty is probably in midst of a triangle formation and we expected some upside for Nifty. Here is the latest chart of Nifty: Nifty has rallied quite a bit since (in line with our expectations) and is now trading between the important […]

NIFTY UPDATE Nifty failed to sustain above the crucial 38.2% retracement level of 10604 and developed another leg down. This leg down though has not violated the important 10033-10075 zone mentioned in our last report. Below is the most probable wave count for Nifty’s fall from all time highs: This […]

Nifty violated many of the important levels mentioned in our last report. The sharp gap down movements in consecutive days pose a challenge in directly analyzing the price action (because of areas that lack any price action). In such a situation we will need to look at multiple time frames […]

NIFTY POST BUDGET ACTION Nifty has seen substantial fall from highs of 11170. I am seeing this current fall as part of a double zig-zag correction so far. Though my confidence on this would only increase if we see prices closing the gap down action seen today. Nifty 30-min Chart […]

Since our last post, Nifty has stayed on an expected uptrend. Chart Below: From a long term perspective, there is nothing new to add and we expect this trend to continue. The measured target for Nifty are at 10831/11233/11328. Important swing point is at 10404. From a short term perspective […]