Tuesday, May 15, 2012

Nifty - Elliott Wave Analysis

Nifty has still not formed a satisfactory divergence on daily chart. We have divergences on hourly chart, but that might just be suggesting an end to the wave (3). We may have a small rise and fall sequence to complete the wave [c], as shown in the chart above. But if we start trading comfortably above 5040 in five waves, then we might just be through with the wave [c] of  II. Next couple of days will be crucial.


  1. if we see daily chart the lot of noise filtered and the down wave clearly third and todays candle as start of 4th corrective...one last 5th down pending...kindly do post one analysis with daily candle please

  2. yes today it was confirmed..that the 3rd wave still going on...and yesterday up was 4th of 3rd down...and todays down move was 5th on 3rd down...still some room for down side for final low of 3th down than a bigger 4th up as shown in your chart


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