Friday, May 29, 2015

Elliott wave and Fibonacci Analysis of Nifty

Elliott wave Analysis of Nifty: From last hourly chart, I shared on Tuesday, in 2 days now, we have seen the B wave unfolding on the downside, though it did not took support on highly sought support of 8240 but reversed from 8270. But some thing that we already knew was that 8240 was likely when the trend was to fall in that flow, however as B wave had to further subdivide in to 3 waves the momentum trendline I had drawn on the previous chart continued, which did not continued as the B subdivided into 3 waves, now it is high likelyhood that we are done with the B wave on downside because of the following reasons:

To read Detailed report click here: http://ruchirgupta.co.in/elliott-wave-and-fibonacci-analysis-of-nifty/

1 comments:

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