Thursday, September 11, 2014

Nifty Elliott Waves Analysis Report for 12 Sept 2014 by Deepak Kumar

It seems Nifty is playing “Combination Complex Correction” (abc-x-abc). Present setup doesn’t looks like A as “Leading Diagonal”. The previous day’s move looks same as “abc” and today’s upside move as link wave “x” followed and wave “a” and “b” of next set.

If the counts are correct then Nifty can decline near 8020-8010 to complete next “c”. The levels are placed by calculating 123-138% of “a” followed by next up move for new high and we may not see much lower levels below 8000.