Wednesday, February 22, 2017

Elliott Wave Analysis for # NIFTY Cash 8907

Elliott Wave Analysis for # NIFTY Cash 8907


As last I discuss in Nov 2016, about Nifty in right track to reach 11000-11500…Still we in right track to reach 11000-11500.
My projection about 11000-11500 was in Feb 2016 @ 6900..still intact.


Now I discuss here my further observation about NIFTY with help of ELLIOTT WAVE ANALYSIS….
Both charts shows that Nifty moves in….
UP in 3rd Cycle wave
Up in 3rd primary wave
Down in 2nd intermediate wave


And Up in minor wave-b(in FLAT correction) in intermediate wave 2nd.

#Nifty Elliott wave analysis

In 2nd Intermediate wave..inside Nifty moves in FLAT correction (ABC).Minor Wave-a was started downside at 8968..and ends at 7916 @ Nov 2016…than minor wave-b was started from 7916…still running.

#Nifty Elliott wave analysis

The strength of wave-b will decide the strength of wave-c downside…till wave-b retrace @ 94% of wave-a..still going up..max strength of wave-b will be @138.2% of wave-a i.e @ 9350..lets Nifty to decide how much it will go up.

I will conclude as market moves…

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