Thursday, April 23, 2015

Forecasting the path of Nifty using Advanced Elliott Wave and Time Cycles!!!

The recent down move in Indian Equity Markets may have surprised many of the traders and investors as Nifty lost more than 550 points in last 6 trading sessions.
However this move we were expecting a month back.
In the end of March 2015 Indian Equity market were moving lower and made a low at 8270 level. This may have turned traders to bearish exactly at the wrong time. At the same time we published the following path with the help of Advanced Elliott wave and Time cycles! See yourself the below chart taken from “The Financial Waves Short Term chart”.
Nifty daily chart: (Anticipated in the morning of 27th March 2015)

Nifty daily chart: (happened till 21st April 2015)
(Part of research published in the morning of 27th March 2015)
The Elliott wave structure looks to have changed to some extent where we are seeing a triangular formation rather than Diametric. In advanced concepts of Neo wave this triangle is known as Extracting triangle where the size of up move reduces and that of down move increases. The current down move has now become the biggest leg in the entire pattern which can be wave (d) of this triangle and now we should see an up push from here towards 8800 levels where wave (e) will be 76.4% of wave (c). 8800 is also the level of 61.8% retracement of the entire fall from near 9100. This level is also previous x wave which tends to provide good resistance to prices. However, first thing first, as of now we have not seen a positive close above previous bar high which is crucial sign for reversal in trend.
Capturing the recent short term low!!!
Nifty 60 mins chart: (capturing the short term low)
(Part of research published in the morning of 22nd April 2015)
As per advanced Elliott wave  Neo wave, alternations are very important between waves ii and iv. Also out of 6 touch points not more than 4 points should lie on the channel else the structure becomes non  impulsive. This is the reason why we think the fall from 8445 is in double corrective formation and wave c of second correction will reach towards 8270 where it will achieve equality with wave a. Post that there can be another…….
From the above research we can see that how we were able to capture the crucial turning point over past few months. As per all this techniques Indian Equity Markets has been trading at extremely crucial point. To ride the next wave subscribe to The Financial Waves Short Term Update which covers Nifty and 3 stocks with short term trading opportunity. For more information visit Pricing page

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