Elliott Wave Analysis of NIFTY spot

Updated count as of 08-jul-2019 closing:

What a day...again!!!

Nifty corrected like anything, per the anticipation!

It will be a very (read disclaimer first!!!) prudent long position to initiate at 11555. Lets us assume we have created a long position at 11555, sl below 11523.

If this works out, then we are staring at ~ (read disclaimer first!!!) 13000 levels.


See chart:

View attachment 36030


Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
Tried going long 2 times - 11680, 11555. Sl hit both the times. Went long yesterday near 11484, 11450. Closed the longs today. The ending diagonal (read disclaimer first!!!) is not looking good. Will wait for a confirmation before buying.

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Update as of 26-jul closing:

Nifty counts are battling with each other, so we have switched gears to lower timeframe and are trading one wave at a time rather than for a long haul.

As a result of this gear change, after our long position stop got hit on 10-jul, we went (read the disclaimer first!!!) short with sl above 11720. Closed at 11300 day before yeaterday. Profit = 420 points

Now, we are looking at a bounce to ~11444 levels to go (read the disclaimer first!!!) short for a target of around 11000.

See the rarionale:
1564240630978.png


We had also traded banknifty. See banknifty thread for details.

Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
 
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Activated today; tsl 11968+; let us see how it goes.

Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
 
I closed the position manually around 11750. Total profit: 11940-11750 i.e. around 200 points with a potential risk of ~35 points.

Still watching closely. Mostly, it's going to be re-entry on the short side.

Disclaimer: I am not a certified financial analyst. I have started this thread to track the Elliott Wave Analysis of NIFTY (or any security/instrument discussed by me) for MYSELF. By no means the content in my posts should be taken as any sort of advise to buy or sell anything; anyone doing so is doing at his/her own risk. I AM NOT RESPONSIBLE FOR LOSS IN ANY FORM (INCLUDING - BUT NOT LIMITED TO - FINANCIAL) INCURRED BY ANYONE
 

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