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Nifty Elliott Wave Pattern

Rajesh Aazad at 08:46 PM - Jun 06, 2019 ( ) Views: 407

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The Elliott wave principle is a form of technical analysis that Stock Market traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.

As a Eilliott wave trader since 2007 Here We will post Detail updated analysis on Nifty. 

Disclaimer:- All analyis is based on my personal experience and educational study. Its not a recommendation for buying or selling the script. It is for study purpose only. 

Before taking any position based on my analysis please take advice from your financial expert. 

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Rajesh Aazad at 09:47 AM - Jun 07, 2019 ( )

Nifty Hourly Chart

I hope nifty will slide towards lower channel line 

Rajesh Aazad at 09:16 AM - Jun 07, 2019 ( )

A 3rd straight rate cut in a row clearly indicates that there is strong liquidity crunch in the system and the economy is in bad shape. We are seeing 5 years lowest figure in GDP but markets have so far not paid any heed to the fundamental parameters.

Rajesh Aazad at 09:03 PM - Jun 06, 2019 ( )

As per below weekly chart Nifty currently trading in wave (c) of wave (IV). From last two week we have seen up side rejection in weekly candlestic pattern. Today's price has formed long bearish engulfing pattern after forming inside bar on daily chart indicating bearishness but it will be to early to say by seeing one day downside momentum. If tomorrow give followup downside action it will confirn that wave (c) of (IV) has been started as shown in chart. Momentum was too strong towards downside. As per my observation, on past 2 concluding MPC meet irrespective of rates cut markets have always reacted negatively to it. 

As per Elliott wave principle theory We hope that price will drag towards 10000 level as showen in chart if my wave analysis is correct. Lets see what happend. Few days price action will confirm that either this wave count is correct or not ? 

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