Wednesday, April 12, 2017

Nifty: Power of Hurst’s Time cycles along with Neo wave Diametric pattern!

Nifty: Power of Hursts Time cycles along with Neo wave Diametric pattern!

Time cycles are extremely important concept and when combined with other technical analysis methods it gives high probable outcome.

Below research shows how we are using Hursts Time cycles with Neo wave application on Nifty.

This time we are again visiting 55 days Time Cycle which has worked well in past. We found out this cycle based on Hurst cycle study which has predefined standard cycles. One can find cycles which are close to the nominal ones defined in the nature.  This cycle had been working well over the past history.

In cycle analysis one should give leeway of 10% as Time is more dynamic element compared to price. Low formed on Demonetization was just 2 days later when the cycle was bottoming out.

Plot your own charts with cycle analysis on Nifty and share it across on our Trader’s Forum for collaborative learning or clarifying your doubts or sharing something extremely exciting with everyone.

Below chart is picked up from the daily equity research report The Financial Waves short term update that covers view on Nifty and three different stocks published daily.

Nifty daily chart:

Nifty,Elliott wave,Technical Analysis,Diametric Pattern,Neo wave

Wave analysis:

Published today morning in equity research report

Nifty had a flat opening in yesterday’s session and prices managed to quickly move towards 9240 on upside during first half of the session. Later there was consolidation throughout the day within a narrow range of 9220 and 9240 levels. Stock specific action continued with heavy weights like ICICI Bank, ITC, Bank of Baroda helping index to close positive.

As shown on daily chart, over past 4 days Nifty corrected by hardly 100 points and recovered back quickly on upside in just one day. The broader market has been still outperforming during this period. It therefore indicates that the ongoing leg is only wave f and post its completion wave g on upside should start.

We are showing 55 days Time cycle on the daily scale. As per this cycle an important low should be formed by ……… April. The reason for giving a range is because we do not have precise level to pick up post the Demonetization. The cycles got little distorted and so we will use the range rather than picking up exact low date. This time as well prices moved in sideways action in the cycle topping zone rather than downside so far. This is in sync with the existing wave counts.

As shown on hourly chart, (shown in the actual research report) after the fall and rise scenario the best tool to use is Bollinger Bands for directional breakout confirmation. Nifty made a high near 9245 levels which was exactly at the upper end of the bands. The lower end of the band is near 9170. We can expect range bound action between this zone over next few days before the time cycles are behind us and prices confirm a low formation by …… above the high of …….. levels.

Nifty has moved precisely within the zone mentioned in today’s morning research report…

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