If holds 11890-11905, strength would return towards 11950-965 & above which 11990-12010.

Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11877 & 50Dsma-11345. In the current scenario, 1 possibility remain:- (Unless Mkt changes direction breaking key level)

  1. Corrections done @ 10670 and Prices are impulsing up in a new uptrend with a 1st wave done @ 11695, the 2nd wave done @ 11090, & the 3rd wave is unfolding as long as prices are kept above 11550″.

Within the 3rd wave, the first wave with its 5 sub-waves done from 11090 to 11989:

  1. Deeper correction done @ 11890.
  2. Much deeper correction follows if kept below 12020 & breaks 11900

If holds 11890-11905, strength would return towards 11950-965 & above which 11990-12010.

If kept below 11950-965, weakness would continue towards 11840-855 & below which 11805-820.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

  1. Leave a comment

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Just Nifty

Get Rich Slowly & Quietly...

Nifty Trader's Resources

Get Rich Slowly & Quietly...

Stock Wealth

Get Rich Slowly & Quietly...

Stock Market Chart Analysis

Get Rich Slowly & Quietly...

Marketcalls

Simply Intelligent Technical Analysis and Trading Strategies

the ELLIOTT WAVE lives on

OEW: an Objective approach to the Elliott Wave Theory

Bramesh's Technical Analysis

Pattern, Price and Time: Using Gann Theory in Technical Analysis

%d bloggers like this: