Nifty Update (28-07-15)

Technical said, 8500 level is crucial. Now 8300-8350 range is good for Long. Keep Stop-loss below 8300 for long, We may see strong recovery till expiry. Bank-Nifty may be mover.

   

Nifty Critical Update (27-07-15)

Technical said, If 8500 level hold by Nifty then Killer up-move expected. Now, 8500 level become crucial for Nifty. We are posting two chart today. 1st chart is 4 hourly chart using Ichimoku with Standard Deviation & 2nd chart for Elliott Wave Count at Daily Chart, If 8500 hold.

Nifty Elliott Wave Counts

We have 2 possible weekly Elliott Wave counts. One posted at 03-July (Click here)  & Alternate Counts at 17-July (Click here). Nifty is facing strong selling pressure at "Make or Break" level.  If Nifty want hit New High as per Alternate Counts then it must close above 8668. In other case, If Nifty want go below 7940 then is must close below 8300.

Nifty Update (22-07-15)

Technical said in previous post, Nifty at "Make or Break" level & Breakout above 8638 & warned for "Very Caution Level". Nifty break 8638 but unable to sustain so pullback start today. We expect 8500 or 8440 should hold & violent uptrend should start for target 8866. Keep Stoploss below 8400.

Major Nifty Elliott Wave Alternate Count (20-07-15)

In previous Elliott Wave Count, We assumed Wave (5) at 9119, Wave (A) at 7940 & expected Wave (B) at 8630-8730. Nifty hit 1st expected level for Wave (B) in last week. But we are expecting extension in running Wave. So, we have assume 9119 as a Wave (3) & 7940 as a Wave (4). Now we are expecting new high in super fast mood vertical rise for Wave 5 at 9300-9500. Stoploss for long should be below 8400. 

Nifty & Bank Nifty Update (17-07-15)

Technical said, Pullback expect Nifty @ 8630 & Bank-Nifty @ 19200, today both target hit. Now both index at "Make or Break" level. Very Caution Level. As per Oscillator, We can expect breakout above #8638 in Nifty & #19284 in Bank-Nifty for next target Nifty @ 8822 & Bank-Nifty @ 19500.   

   

Nifty Update (10-07-15)

As per last post (Nifty Elliott Wave Count), Nifty is in corrective Wave B & expected target is 8630 or above. Now see updated chart. Current wave is in a parallel channel. Head & Shoulders pattern is expect.   

Nifty Elliott Wave Counts (06-07-15)

Technical said, Buy only above 8490 or on any dip. Nifty breach 8490 on last Friday & Breakout in channel on weekly close. Now, we are expecting 8630 or 8730 (almost) for Wave B.

Nifty Update (02-07-15)

Nifty hold 200 DEMA (8200) on Monday as expect fall (pullback), now above 200 DMA (8370) but still below previous top (8489). We are expecting again a pullback for test 8370 (200 DMA) or 8280-8300 (20 DEMA) before expected target 8630 because Bulls are in #Caution due to weak oscillator. Go long only above 8490 or buy in dip with stoploss below 8370 or below 8280.