Nifty collapsed with Global markets, What is next?

Nifty crashed more than 390 points on intraday basis after the collapse on DJIA and global markets. Everyone is busy finding reasons to selloff but Elliott wave helped us to trade on short side well before this happened.

After the sharp decline with no major event globally, many are busy justifying the selloff and talking about yields tightening. But how does it help after the selloff happened?

Is there a way to catch such reversals, absolutely “YES”. Look at the below chart of Nifty when we marked a top is in place.

Also in my latest webinar last Friday 2nd March 2018 I mentioned Post Budget we might be topping – watch the webinar here

Now also look at the below chart we showed

Nifty 60 mins chart – Anticipated on 2nd February 2018 morning research report

Nifty 60 mins chart: Happened

Following was mentioned in morning of 2nd February in daily equity research report –

In short, it seemed to be a populist Budget like everyone expected but introduction of Capital gains is going to result an impact which is not yet discounted maybe due to artificial support. Trade carefully as the swings can still be big over next few days! Move above 11120 is must to resume the positive trend else break below 10878 will be strongly bearish!

Following was mentioned in morning of 5th February in daily equity research report –

In short, trend for Nifty remains firmly negative as long as 10880 is intact. Keep riding the trend using trailing stop method and the positions are already in the money that shorted on break of Budget low. Such sharp trends are rare but market did provide us with warnings before reversing. Let us see how far it goes from here! BANG ON!

Happened: Nifty collapsed along with global markets and now everyone is talking how we recovered from the lows. Our clients subscribed to daily morning research reports were already warned and asked to short as you can see above. We have been giving sell calls over past few days in our daily stock tips and advisory.

Movement of Nifty is no surprise for us and volatility was supposed to increase. So what is next from here? Did we form a short term low? Or Is it just the beginning of a bigger downtrend?

“The Financial Wave short term update” is our flagship research report consisting of views on Nifty, Bank Nifty and stocks. Subscribe now and see where we are headed from here on. Visit Pricing Page

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