Friday, 8 November 2013

Nifty Elliot wave count for recent fall

Nifty Elliot Wave Count

Either correction is over or we are going to see retrace of fall from 6288-6120 to finish green (B) and then one more impulsive wave down to finish the correction (double Zig-Zag). 

Will update again if i find something interesting.Till then "Happy Trading" :) 

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  1. i see that from recent major low of 5700 to high of 6342 32.8 percent retracement is at around 6096....does you feel the same ?

    1. Pankaj ,

      Retracement is still on now from 5700 to recenet top.. tody we finished 50% retrace.. Lets see what price has in store for us :)

  2. Hi Sumit, H&S pattern has failed, As I contended earlier, negative divergence has pulled down Nifty by 200 points. Below 6050, Nifty can go still further down.

    1. Hello Parimal,

      Yes pattern failed :) , but underlying bullishness is still intact..