Nifty - Looks like a fall is on the cards(Elliott Wave Analysis)

2017년 1월 11일

Here I'm giving my short term view on Nifty 50 using Elliott Wave Analysis.

As you can see the structure is that of a Triple Zig Zag and currently we are in the last leg of this Complex Correction.

I believe there is a high probability that Nifty will give a reversal b/w 8340 to 8370, if not then T3 : 8440 will be on cards.

STRATEGY : Wait for reversal.
Sell for T1 : 7680 (Wave C MiNIMUM TARGET)

I will discuss further targets in a later post.

Point of Invalidation : 8600, If Nifty goes above this level without giving a correction then I will have to redo the counts.