Incisive Nifty Trend Analysis

[toocool]

bear rally?

 

[Option.Trader]

There seems to be a truncation. Longs please be carefull. The rally may have ended.

Would today's expected upmove cancel the truncation or is this also accounted for?

 

[a1b1trader]

Thanks BM
But which level, you mean to say
The high so far na!!!
OK

 

[TracerBullet]

Like I said earlier the five wave upmove is over. Nothing in this world can change that.

Can we have 7 waves? (just joking)
Where is Mr Prada ...

 

[Rish]

All Spot Levels

Nifty Spot - as long as not breaking below 6631...no positional short - Intermediate Top 6890..

Bank Nifty Spot - as long as not breaking below 12438...no positional short - Intermediate Top 13566..

 

[OMSAI]

All Spot Levels

Nifty Spot - as long as not breaking below 6631...no positional short - Intermediate Top 6890..

Bank Nifty Spot - as long as not breaking below 12438...no positional short - Intermediate Top 13566..

Great analysis.................Rish bro please start a thread......:thumb:

 

[toocool]

Like I said earlier the five wave upmove is over. Nothing in this world can change that.

I would suggest to change this attitude.

Dont get me wrong, market follows Elliott wave I am certain, been a long believer however markets have some different ways to express itself , you may be right however you may well be wrong ................" Nothing in this world can change that" this line is not exactly true fact.


Only market knows how is it expressing itself, there may be some different pattern unfolding...........Or maybe not

 

[Option.Trader]

Be patient. It's just an irregular B wave. Such moves are common. It is not possible to correct 2 months movement in 2 days.

Wow, I like your confidence, today Nifty is @6800, according to you if within the next month nifty goes to 5900- 6100 levels as you say, I salute you, any other corrections are but normal which can be predicted even by lay man and does not require EW. they generally say events unfold in a way that correlate to EW, so for this, Modi should perform badly which looks remote

 

[toocool]

Be patient. It's just an irregular B wave. Such moves are common. It is not possible to correct 2 months movement in 2 days.

See I understand.

But on the other hand you cannot say that EW is never altered, there must be an alternate count, always without any exception............. So when you say "nothing in the world can change that"........... You must know that markets have 600 possible ways to move at any given point of time.

So there is every chance in the world that you are being duped by the markets........ And that's okay, market have this tendency always, but you should rather be prepared to get duped and change your stance rather than be extremely rigid

 

[trade4putuval]

Hi Bobo,
There is one strategy in 315 that supports your view.

If nifty makes a move that is more than 10% after 3ema crosses 15ema, and yet not touched 15ema, then there will be a correction till 3ema crosses below 15ema for the first time. Once this happens, the correction is over, and the trend resumes. In our case, the bullish trend resumes.

At present, 3EMA is 6774 and 15EMA is 6684. So for 3EMA to cross below 15EMA, we can see a target close to 6500. Once this happens, the very next day, the bullish trend resumes.

Let's see!