Nifty had been moving in high volatile environment for many weeks. Amidst all the events one method that has helped us to trade objectively and forecast is Hurst’s Time cycles and Elliott wave patterns.
We have been successfully anticipating the paths for Nifty in our monthly report and it has worked out extremely well most of the times. Even this time we were able to anticipate probable reversal which came along with corporate tax rate cut announced by FM Sitharaman on 20th September 2019.
Below is the chart we published in our monthly report, “The Financial Waves Monthly Update”
Nifty daily chart- Time Cycles (Anticipated on 6th September 2019)
Nifty Happened as on 9th October 2019
(Below is the extract of the research from our Monthly report)
Anticipated on 6THSeptember 2019: So for bigger downtrend to resume we need to see break below the lows of 10530 which will move the entire price range out from this range and will start the next set of selloff probably below ….. However, a move above the range of 11000 – 11140 will suggest that the down move is complete and we are seeing upside pullback of the fall which will retrace prices towards 11500 levels. We are already witnessing positive divergence on the daily time frame near this important zone but nevertheless price confirmation is utmost important.
In a nutshell, there is either an accumulation or distribution which is ongoing across the Nifty index and decisive move above 11080 will suggest upside pullback towards 11500 levels have started… Looking at the TRIN indicator and Time cycles on Auto sector the odds are high that we might see short term pullback” BANG ON!
Happened – Despite the sharp move on upside on 20th September 2019, came on back of corporate tax rate cut announcement but it was in sync with our medium term outlook published in the monthly research report.
So are we on a cusp of starting the next big trend again on the upside?
The above analysis shows power of Time cycles and Neo wave. When we combine these advanced concepts with basic methods the accuracy takes a huge jump. The complete Nifty path for the month is published in the latest monthly research report. It also covers views on RELIANCE, INTERMARKET ANALYSIS, and USDINR using most advanced technical analysis methods.
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