Thursday, July 11, 2013

Nifty - Elliott Wave Update

  1. Nifty has been in a sideways consolidation for last few days, it actually formed a flag/pennant.
  2. We have a clear BO today. As we have been reiterating, the band of 5870-5970 was critical for any up move.
  3. Right now too 5970 is very important, above that level we may test 6030 - 6130 band.
  4. We have an (a)-(b)-(c) move on our hand, and wave (c) should be equal to wave (a), which comes around the 6100 mark approximately.
  5. SL for this trade would be the last pivot low, around 5800 with current price around 5940 and with probable target around 6130, we get a reward to risk ratio of approximately 2.
  6. Oscillators are in OB zone, but during trending moves, they can stay OB for a while.


  1. thrust after triangle will be probably equal to highest move of triangle...i.e. 132 points achieved. And a-b-c x a-triangle b - c is got completed ... & sudden down move can occur...learning thought only

    1. I am cognizant of your target calculation for triangle, but the wave labels u have mentioned, I am not able to understand. You can send me a chart, for greater clarity.

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