Is this a start of major downtrend? If yes then where would Nifty head itself in upcoming sessions? In order to get answers of all your questions subscribe to The Financial Waves short term update which covers Nifty along with three stocks applying Elliott wave theory along with basic technical tools.

We have been able to capture the entire move of Nifty right from the top of 9119 to the lows of 8270, then again to the high of 8840 from where prices have reversed back again. 

See yourself and do not guess the reasons we have given and the path we showed more than two weeks back. It takes strong belief in the techniques one follows to be against the crowd during major turning juncture!

Nifty daily chart: 

Anticipated on 27th March 2015 even before there was not a single positive bar

 Nifty daily chart: (Happened so far)

Elliott Wave Analysis: The following was published in todays morning research report to our paid subscribers ofThe Financial Waves short term update

In previous update we mentioned that In short, Nifty is in matured stage of up move and sudden reversal should not be a surprise. However, such sudden reversal should break 8700 and close below it.Next 2 to 3 days are going to be very crucial!

Nifty had sharp reversal at 2:50 pm and lost nearly 100 points in nearly 10 minutes. We have been clearly warning about such moves which should not be a surprise to our subscribers. The major reason being that in the entire up move from 8270 levels there has been sharp reversals on downside and also the wave counts internally was suggesting that the rally is near completion. Also final leg wave c of second correction formed a wedge shaped  Ending diagonal pattern that warrants such sharp reversal. Nevertheless, ……

We showed the path of Nifty on 27th March 2015 morning when prices closed near the days low of 8270levels. It takes lot of belief in the objective techniques to mark the reversal on upside from there which clearly showed an up move till 8800 - 8830 levels which will complete wave  and then a move back on downside.Happened: Nifty has followed this path to the point along with time as well and reversed on the 49th day cycle.

Word of caution: ……..(shown in actual report)

As shown on hourly chart, Nifty has broken below the channel support and 20 periods EMA which was providing good support. Prices are now lying on lower end of the Bollinger bands and a close below ………. will result into negative close below it. Also if someone is placed on short side should now follow trailing stop of…………

Subscribe now and get your daily copy of Nifty and 3 stocks analysis before market opens. To subscribe visit or write to us on

Now post your charts with Technical Study and start the discussion on our Discussion Forum Page and get it answered by our experts. To post your chart now visit Call us on +91 9920422202/ +91 22 28831358 for any other details