Friday, February 15, 2013

Nifty - Elliott Wave Update

  1. I have a feeling that this impulse move which started from the left bottom of the chart looks finished.
  2. Now I have changed the position of wave (4) from my last post, this particular count has following targets to achieve, to be called complete.
  3. The correction should travel at least 316.15 and/or should travel past the blue vertical line out to the right of the price on the above chart, roughly 29 days from the recent top in Nifty at 6111.80.
  4. It certainly looks like the price target should be overcome sooner that later, if we also overcome the time then we have a stage set for a good up move.
  5. Though it is still very very early days from the pattern point of view, but still the minimum requirements of the correction to an impulse wave is that it should be deeper and/or longer than the deepest and longest correction in the said impulse wave.

5 comments:

  1. Anything counting is not really EW...Just get more knowledge about degree of waves....!!!!
    How can possible the degree of inner wave is more than higher degree waves?

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    2. What do your reckon about this one - http://tradeelliottwave.blogspot.in/2013/02/nifty-elliott-wave-update.html Please communicate your answer, your criticism is helping me learn more.

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  2. as u said earlier nifty has broken 5823 in faster time... so now can we say it is impulsive wave done by nifty...?

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    1. Please refer this link - http://tradeelliottwave.blogspot.in/2013/03/nifty-elliott-wave-analysis.html

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