Tuesday, December 24, 2013

Nifty applying multiple Time Cycles over short term

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Nifty has been moving in a trend that lasts for approximately 3 to 5 days on upside and around 5 to 8 days on downside. This has been valid for more than a year now. Also every time a new high is touched we can see apparent nervousness in market and a series of red bars.
To understand important turning points in addition to Elliott waves we also apply Time cycles. This time we are showing short term cycles applied on 60 mins chart.
The below excerpt is picked up from “The Financial Waves short term update” published on 23rd December 2013 that clearly shows the important turning points as per 2 different cycles:
Nifty 60 mins chart: Multiple Time cycle concept (as of 20th Dec closing 2013)
Nifty Analysis using Multiple Time Concept
Wave Analysis:
Nifty had a flat opening but prices managed to stay in green zone during opening hours and buying pressure started to emerge post 11 am. As shown on the daily chart, Nifty very well protected the channel support we have been showing over past few days. It also respected the zone of 6110 – 6130 so far. Looking at the strong move of Friday there is a possibility that wave ……. ended near ……. levels. However, we are not too optimistic about the current up move as this can be corrective in nature making it a difficult trading environment this week.
Multiple Time cycle concepts on smaller degree: We are showing 2 different time cycles on 60mins chart that seems to be working well so far. Red is a ……hourly cycle and the blue is …… hourly cycle. The red cycle looks to be catching important bottoms and at few times important tops whereas blue cycle is alternately forming tops and bottoms. The turning signal as per these cycle is now near ………… Time cycles help us to time the wave counts when prices are in complex corrections.
In addition to this we have clearly explained the levels and possibilities that are important to observe for price confirmation. Also the move tires out everytime it goes near new highs. Will it happen even this time?
Know more by getting access to “The Financial Waves short term update” research report. To subscribe click here and select this product and pay using various options.


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