Hello Friends,
Nifty today remained in a range and given a wonderful profit to those , who had traded on our Nifty Future Intraday Range of 12040 - 12120. Which given more than 200 points. it was posted on FB Page only.
Now as per Elliot wave analysis, i have posted Nifty Weekly, Daily, and 15 min. Chart. Due to Intraday Calls pressure. i just made a mistake yesterday in a hurry , i made a wrong judgement , so i decided to post Weekly , Daily charts Thus it will be easy to understand. Nifty cash completed wave A on 12080 earlier and than later it completes wave B by the end of day at 11999 level. There are 2 Views i am seeing on Longer term as well as Short term.
View 1. : Nifty already made ((i)) on higher degree on Daily chart at 12157 on Top. and later it completed wave (i) impulse wave of Corrective Wave A at 11936. Now Wave A & B of Wave (ii) are over today. Tomorrow it should move up to complete wave C (ii) at near 78.6 % of ((i)) at 12110 cash levels. Than after completing it we may see further fall with starting 3rd wave towards 11000/11100 level in coming day starting by Monday with a quick corrective move.
View 2. : Nifty hasn't made his top yet. This confirmation we can get after Weekly closing only on closing of 9th Dec.
Conclusion : In my view market is heading towards 11100 level. We have to wait for the weekly closing till Tuesday.
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| NIFTY WEEKLY CHART 1 |
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| NIFTY WEEKLY CHART 2 |
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| NIFTY DAILY CHART |
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| NIFTY 15 MIN CHART. |
Thanks , with Regards
Arun Khanna
Disclaimer : Please ask your financial adviser before making any investment/trade , as the author will not be responsible for any kind of profit or loss made by you.
One must analyse his own before making trade or invest.
