NIFTY Objectivity of Elliot Wave - Follow Up (22nd July 2015)

 
NIFTY as charts indicated the move from 7940 - 8650 was corrective move ....

Elliot wave pattern indicated probable truncation of corrective trend near 8650 a major confluence zone ..... A two stage confirmation was below 8540 as breadth was weakening and lackluster move in large cap stocks was the indication of deteriorating trend .....

"The Beginning is most import part of work" - Plato

 So Start to learn today .... Change your tomorrow ....

For more details of our previous NIFTY update visit:

http://swing-research.blogspot.in/2015/07/is-nifty-move-corrective-or-impulsive.html

NIFTY 30 Minute Chart (21st July 2015) 

                                                   NIFTY Daily Chart (24 Aug 2015)

Rest is history Now !!! Bang on & We are back below 8000 levels .... The Objectivity of Elliot Wave can be achieved almost to precession with other tools If applied appropriately, which is the beauty of Elliot Wave Analysis ....

So understanding the importance of trend is vital with concepts of Balance and Proportion to attain objectivity ....

What is the Next Major trend turning Point for NIFTY ?

Combination of basic technical tools and Advanced Elliot Wave Approach will assist in attaining edge over the crowd in analysis. Along with also appropriate Risk/Reward ratio & good money management techniques would be the mantra to attain trading success.

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Raju V Angadi Vishwanath, B.E., MS, CMT

Equity Technical Analyst

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