Wednesday, August 14, 2013

Nifty - Elliott Wave Analysis

  1. This Nifty chart clearly shows that we have found support at the earlier support zone, now tested 4 times.
  2. We also have a resistance zone brewing around 6090 - 6135 range.
  3. If this rally is for good, we can test this resistance zone, in coming weeks.
  4. The start certainly looks convincing. 
  5. If we do rally to this resistance zone, it will interesting to see what Nifty does there, a breakout above the last high of 6229.45 (which "investors" are hoping for), we may see much higher levels, in the vicinity of 6500 - 7000 (but this is just a conjecture at this point, we need much confirmation before any of this becomes a possibility).
  6. Right now I would be betting on the levels of 6090 - 6135 being reached before we make a new low or break the support zone.
  7. But markets are known to do there own thing, and I know that a SL will protect my capital!


  1. WHY A.B.C.D.E PLS EXPLAIN..larger pink one

    1. I am counting a triple combination if we stay below 6229.45.

  2. Sir last leg is canalise move which can be seen in corrective phase not in impulse according to neo wave

  3. Thank You.
    Can You help me get updates of E W on
    Hourly basis during trading hours as I am unable to understand patterns presently.
    M: 8903573436

    1. I cant update my charts every hour, but if u can send me ur queries preferably on a chart I can try to answer them.


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