Disclaimer : Iam Starting this post with a disclaimer. Because Iam not an expert with Elliot Wave.
I made this post just to ask suggestions with the Ellioticians and Experts reading my blog.
I had made 16,600 as the Peak in the Elliot wave structure as GANN Resistance near 16,600.
Experts please give your suggestions here
Related Readings and Observations
Understanding The Background Of Random Price Behavior Random-walk theorists usually start from the premise that the major security exchanges are good examples of “efficient”markets. An “efficient” market is defined as a market where there are […]
Nifty Futures – Market Profile Analysis – 02nd April 2018 Nifty Futures on the Daily charts hovering still below the 200 Moving average level 10194. Currently SGX Nifty is pointing towards a possible open above 10200 levels. Though volatility in […]
Butterfly spread using calls – Lies, Lies and Damn Lies -10 Butterfly spread is a good strategy when there is not volatility. This strategy also has self protection against big moves. However this can also produce limited amount of loses when […]
Nifty Futures – Market Profile Analysis – 16th Mar 2018 On Wednesdays closing if you would have thought that this market has to go up and on Thursdays closing if you would have thought Nifty Futures have to go down, then welcome to the trading […]
SGX Nifty Crashed trading below 4900 levels Currently SGX Nifty is down more than 250points from yesterdays levels and the global cues are strongly unsupportive. Nifty EOD Supports are near the zone 5000-5020 levels breaking this on […]
WealthCreator : Nifty Future Weekly Research Report A sharp correction and a rally has been seen the past week in FNO September Expiry. After making the high of 8176+ for the week the market plunged back down to 7884 testing its 50 day […]
Dear Sir,pl read this thread. i had posted wave count and seems we r following that path. i am also not elliott expert, i a have just tried it.http://www.vfmdirect.com/forums/show.cgi?topicid=1250537351Pankaj Shah
I feel it is a clear 5 wave up movement starting from Oct lows, Nove highs as 1, March lows as 2, June highs as 3 and July/August lows as 4 and 16,600 target for 5. Ajay
Rajendran, i agree with your wave labeling. i think we are in wave B, which itself has a 3 wave structure. wave 1 from march lows to june highs, wave 2 from 4693 to 3919 and the current wave 3 which is currently underway. as we are in the motive wave we should see a 5 wave structure, which can take us as high as 5500.