>Nifty elliott wave Analysis
Hi Readers,
Nifty move last 1 week was a quite whipsawed move,Slow up and sudden dip and slow down and sudden up characteristic of corrective waves ,Which makes them quite tedious for a trader to trade them.Expected move was posted before at RishTrader blog ,That target is already met.The expected C down was supposed to have a 5 down the present structure of nifty suggest that it would have done 3 down till today’s low 5002.The golden ratio of C=1.61(A) Comes near 4980-70 ,Which suggests we may have little more up down before C finishes.
This C would have already finished if we cross red line upward with out dip.I would be looking to buy into Midcaps in any panic below 5000.
Regards
Rish
so, you are expecting more down fall in near term, can you share your views in positional for clear cut meaning for your post
Kumar , Tomorrows move should clear the further picture watch for the level and red line drawn in post.
Rish,
What are the probablities of completion of wave B of flat ( 5182-4539 A, 4539-5182,55 B ) on long term basis
Pasupathi
Hi Pashupathi,
That’s a debatable count .
15min chart wave number needs to be updated daily for the public who dont get intraday data
Hi Achin,
As it was mentioned in post C will do could of ups and downs before ending it did exactly that and today dipped in the last towards the target of 4970 which was a golder ratio point.So a new post was not required till a new scenario occurs:)
Dear rish
Happy Morning!
Its nice to see the targets are intact. Could you tell the list of midcaps – fundamental or technical basis one can enter @ nifty below 5000.
Thanks
Karthikeyan J