ElliottWaveAnalyst - NIFTY

#1 11th September 2006, 05:11 PM

People are most welcome to analyse/review the wave counts presented on the website. Would only be too happy to discuss them.

From elliottwaveanalyst -

Has been maintained for the last couple of days to expect a move down to 3300 levels in the least. The NIFTY had a fall today which fulfilled most of that downmove. The next couple of days should give more pointers as to which of the four likely scenarios will play out. In the meanwhile, it is time once again to stay out and enjoy the profits of the fall!

#2 19th September 2006, 11:16 PM

From elliottwaveanalyst (for 20/09/2006)

Yesterday, it was said -
"No signal obtained for going long yet. Stop loss for all people with
short positions remains as before. ie, around 3510, plus 3-5 points to
allow for whipsaws. If this is taken out, a fresh view of the market
will have to be taken."

#3 25th September 2006, 05:35 PM

From elliottwaveanalyst (for 26/09/2006)

Has been maintained for some days now to expect a movement to a region around 3520 / 3507. It was also told that this would involve a lot of choppiness of sideways action. The NIFTY reached our target area as expected. Though the end of the downmove is still not clear, the preferred outlook is that there should be an upmove starting sometime on the 26th. As mentioned quite a few newsletters back, if 3490 is breached convincingly, there is a strong possibility of this correction extending much lower.

#4 10th December 2006, 03:17 PM

Site updated with latest Medium Term update on the NIFTY. Comments welcome.

www.elliottwaveanalyst.com

Thanks,

Vinod Krishna Bhat.

#5 14th December 2006, 01:27 AM

Newsletter for 14th December:

Pretty pleased with the way things are progressing. We caught a good part of the previous rally to the 4020 levels, then caught a good part of the fall to 3760 levels. Though we could have caught a bit more of the fall, I am not complaining since we did not go overboard with the risk factor. After that, we are now long and hoping to get in another profitable trade as well!

Stop loss point for the longs can be brought up to 3691 from the earlier 3657.

For probably the next couple of days, the outlook is for a continuation of the upmove towards the levels of 3800/3845/3890. Expect a pause around the first two targets, but the ideal and ultimate target is around 3890. Do be careful around the pause points.

Czar · #6 14th December 2006, 12:04 PM

I Sincerely hope the nifty does not attain all these 3 targets today itself... 3800 achieved...

kuldeep49 · #7 14th December 2006, 10:27 PM

Quote:

Originally Posted by Czar

I Sincerely hope the nifty does not attain all these 3 targets today itself... 3800 achieved...

3845 achieved, too. Keep it up VKB.

toxicexpulsion · #8 15th December 2006, 01:03 AM

so if this the corrective wave 4 and assuming that of the 5-3-5 is in progress then today the 5 and 4 are complete then coming up is the next 5. wonder where that will take us. i hope this is going to end soon. i dont like bear periods, they are really scary but you have to live with them. please provide inputs on this.

#9 15th December 2006, 05:04 PM

Thanks guys. 3890 was achieved today as well.

My preferred view is indeed that the we are in a corrective wave 4 and like you say, we have probably completed waves a and b within this wave 4 and are looking all set for wave c to go down with an initial rough target of around 3500.

But one cannot be stuck with a preferred view and should have a back up plan so that one does not get caught out when the analysis goes wrong. In this case, my clients have been long since 3717 and continue to hold long positions with suitable exit points which keep getting modified as more data trickles in.

If the analysis is correct, then longs are exited and shorts taken. Else the market moves up and the longs give profits.

Regards,

Vinod Krishna Bhat.

amitt29 · #10 18th December 2006, 06:46 PM

Unfortunately Life,Markets and Wave Principle are not so easy.Breached important levels on both side.And made a new high in the three days and closed high.
That tells you something.

Anyways expecting new high by Wednesday.Lets see what happens.

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