Tuesday, September 9, 2014

Elliott Wave Analysis of Nifty by Deepak Kumar for 10 September 2014


By seeing these charts (based on my understanding of EWT) 8191-8217 looks like a probable top and Nifty may not go much above 8257 (in case of highly extended 5th). Tomorrow may be the last session of this Bull Run and Nifty may start short term correction from 11th Sep 2014 (Thursday) which is due.  Nifty completed 20 sessions in this Bull Run and tomorrow is 21st session, Nifty may change trend after 21 sessions (Fibonacci Cycle). But, never be over confident and trade with cautions and stoploss, nothing is sure in this market.