NIFTY JUN FUTURES - Elliott Perspective
Greetings Traders & readers,
ONE Happy news for all, from this month we are about to release FREE insights on NIFTY FUTURES for current contract, in the beginning of every month - starting today...!
As you can see from the chart we are about to discuss the analysis on NIFTY in weekly time frames
but before that lets also take as deep look at the monthly charts over here,
From which one can observe four consecutive months of Rally lifting it from the depressions of 2015
But the entire move as we have discussed is purely corrective in its existence.
Don't you think that the market is up for a correction now and lets have a clear insight about what's happening :
The Wave 1 as it is earlier described in previous Posts have been developing into an Leading diagonal and this consists of corrective waves replacing impulse waves in their respective places, here it is triple threes in weekly time frames as you can see from the weekly chart,
However we have something to be discussed in detail without which the analysis is incomplete and that is to dig deeper in daily charts and we have carried the same in our website with a Video explanation - A freebie, do check it out here,
www.mytradingcourses.com
( few Questions of users are also being answered in the video on Previous analysis)
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Thank you for reading the article
Regards,
Dinesh - senior technical analyst
LeadBrains FSL - www.mytradingcourses.com - Trading Education & training firm
Niftylong
Nifty - Sum of all factors - An Elliott Perspective
Sorry for the discontinuity as we were engaged in some other obsessions
Now to the Analysis,
You never understand a movie by missing a half of it , so don't miss it
THE LONG AWAITED YEARLY ANALYSIS ON NIFTY IS BEING PROPOSED & the same is gaining attention of all fellow trader. why miss your seat. check it out here,
After that do revisit this ANALYSIS,
Each & every trader will definitely find this analysis compelling to read & understand
The NIFTY has reversed from its 2015 LOW's & the important idea here is that the upward move is definitely not an impulsive rally, it is corrective in nature - which opens the gate for varied options as Elliott has described in the Wave Principle. The corrections at initiation of the trend have been classified as a Leading diagonal Triangle.
Trade Accordingly at each levels of individual waves & at this point....
Thanks for your time
Dinesh -Senior Technical analyst
LeadBrains FSL - www.mytradingcourses.com - Trading education & Training firm
NIFTY ELLIOTT WAVE TECHNICAL ANALYSIS
Continuing from the monthly forecasts in the website, an elliott wave analyst can observe the same as we do, the nifty peaked at an all time high of 9119.2 on mar 2015, the downfall is around a year and when will it end...?
obviously an traditional trader doesn't have answer for this question but the perspective that elliott offfers is significant & different and we can observe that wave 3 had peaked at the areas of 9119 and from thereon wave 4 decline has began and within the three wave general structure we can identify a complex triple three w,x,y & z in it and the final wave among them is being unfolded and it had an expansion within itself to be another triple three and within one lesser degree expansion we can find even other degree of expansion in (y) wave and it have been finished recently and the interim rally that we are facing now is for the (x) wave seperating (y) & (z) and the projections for the (x) wave is very subtle yet it has many layers of resistances...,
To find out the exact turning point of (x) wave read our analysis below this degree (IN DAILY CHARTS for free from here), click here to read it now..
www.mytradingcourses.com
The ultimate downfall target is 61.8% of previous wave 3 rally and this explains why there are this many stages of expansions within the currently unfolding 4th wave.( The target & volatility determines the rate of Expansion ).
DINESH - SENIOR TECHNICAL ANALYST
LEADBRAINS FSL - www.mytradingcourses.com - Trading education & Training firm
NIFTY LONG
Nifty0.26% has formed a BULLISH HARAMI on weekly basis. We are expecting NIFTY0.26% to gap up on Monday and may stay long through the futures expiry on 25 February 2015. futures may touch 7330 to 7365 levels.the same has been confirmed by Stoch RSI , RSI & CCI . The above is our personal view. It is not a tip, Nor a proposal to buy/sell , Please consult your personal financial advisor before investing. We are not responsible for your gains/losses what so ever.
Nifty ::: LONG:::Nifty expected to rise.
Nifty has formed a BULLISH HARAMI on weekly basis. We are expecting NIFTY to gap up on Monday and may stay long through the futures expiry on 25 February 2015. futures may touch 8330 to 8365 levels.the same has been confirmed by Stoch RSI , RSI & CCI. The above is our personal view. It is not a tip, Nor a proposal to buy/sell , Please consult your personal financial advisor before investing. We are not responsible for your gains/losses what so ever.
NIFTY looks a nice longLooking at the weekly chart it looks like the NIFTY has completed a wave 4 decline and is starting a wave 5.
The 40 level held on the weekly RSI held the 40 level at the end of wave Y and there was divergence on the daily RSI.
I am looking for upside targets of 940.50 and 10390.22
I am still a bot cautions as the new impulsive wave is still in 3 waves so wave Y might turn out to be a flat and we could have five waves down to finish this.