Monday, December 7, 2015

Nifty Neo wave Diametric pattern continues in its final stages. A major trend is about to emerge!

Neo wave is advanced concept of Elliott wave with new patterns like Diametric, Extracting Triangle, Neutral triangle, etc. These new patterns are very important as majority of movement atleast on Nifty has been based on Diametric pattern:

Look at the below research which is picked up from “The Financial Waves Monthly update” that provides medium to long term forecasts on Nifty, Currency, Commodity - Gold / Silver, Global markets along with inter-market relationships. This is one of the most comprehensive research using Elliott wave.

Figure 2: Nifty daily chart – Anticipated on 5th November 2015

Figure 3: Nifty daily chart - Happened

(Complete Neowave labels are shown in actual report)

Below research is part of the monthly update published to the clients on 5th December 2015.

In previous monthly update published on 5th November 2015 we mentioned the following: “First thing first, for now the cycle analysis along with Neowave Diametric pattern continue to suggest that the downtrend should continue for two to three weeks and any pullback is going to be temporary…. Path Ahead: As shown on daily chart, we have shown the probable direction of Nifty with increase in downside trend as the time cycles are in sell mode. However, magnitude of correction can vary…”

Neowave Diametric Pattern continues: Nifty behaved in synchronized fashion as expected but the magnitude of the fall has been subdued. We mentioned in previous update as well that the magnitude of correction can vary but the direction has been spot on even this time with prices moving down from 8100 towards the level of 7715 in just few days after the last publication. 

Nifty has now shown 8 months of correction from the highs of 8845 made in April 2015. We have marked April high as termination of previous up leg and not 9119 as per pattern analysis. The medium term downside trend post April has now arrived near its final stages which is wave g of Diametric pattern. To refresh again Diametric is a 7 legged pattern (a-b-c-d-e-f-g) with each legs in corrective formation. We captured the formation of this pattern very early when prices were in wave c itself and updated it in May – June updates.

During this entire down move Time cycles have also worked extremely well by helping us to determine the major reversals on monthly basis. Detailed explanation of ……. days and ….. days Time cycle is given in previous update. We are now near the latter stage of down move both as per Elliott wave pattern and Time cycle.

Internal pattern of wave g: Figure 3 shows internal structure of ongoing wave g and it looks to be forming ……………. pattern itself of one lower degree. The fall of entire 2015 is similar to that in the year 2011. The last leg during 2011 correction also formed a very similar wedged shaped pattern as per the path shown in the daily chart above. There is high likelihood we will form truncated lows despite the negative news prevailing across and then ………………..

(The actual report shows complete description of pattern and Time cycles)

We have arrived near crucial juncture again. To know the path ahead and the direction of major breakout subscribe to “The Financial Waves monthly update” We have been spot on for more than a year now and if we are right again then this is something you cannot miss….

For subscription options simply visit Pricing Page and subscribe to the Equity research report “The Financial Waves Monthly update”

No comments:

Post a Comment