Wednesday 22 July 2015

Is NIFTY move a corrective or impulsive ? Understanding the importance of Trend




As it is always said that, trend is your friend .... Importance of trend and being with the trend with appropriate risk/reward would assist in consistent wealth creation over a period of time.

The question is are we out of the woods for fresh highs before Diwali (September 2015) or markets are yet to consolidate for some more time????


 Daily Chart
30 - Min Chart

NIFTY has fallen from 9120 - 7940 in complex Triple Zig-zag pattern.

Now retraced back 0.618% around 8650 - 8670 zone from 7940 odd levels also sync with lower trending slope resistance.

The Question is is this a corrective move or impulsive move ? or can we re-visit 8250 or 8000 levels back again ? or Fresh highs are around the corner ....

The near term expected resistance (confluence) zone could be around 8650 - 8670 and crucial support zone could be around 8540 - 8460 (Potential Trend Decider)

In corrective nature of markets one needs to be objective and should trade with strict stop losses.

Although we are into the interesting phases of markets, objectivity with balance and proportion is vital to survive and enhance ones portfolios.

To Know more about counts and where probably markets are heading towards,educate yourself as

"Education is the Key to Unlock the golden door of freedom" - George Washington Carver.




Raju V Angadi
Equity Research Analyst


To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

For Bangalore, India Workshops on Technical Analysis Contact on:

 rvangadi@googlemail.com

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