NIFTY - SANTA CLAUS RALLY

Hi Friends,

In my last post I mentioned about Head & Shoulder breakdown on Nifty. As mentioned Nifty is in complex correction in WXY.

NIFTY

Currently Nifty seems to be in 'X' wave of the complex correction; which is further subdivided. Nifty seem to have completed 'b' wave of X at 7551. It may bounce to 8110 in 'c' wave of X if Bulls mange to cross 7765-7815; else it may continue its decline to 7490-7440 or lower. Until Nifty stays below the Channel Resistance near 8110-8180 it may further continue it's decline to 7200 and 6800 in 'Y' wave of the complex correction. Only a sustained move above 8180 would be an indication of end of downtrend. And hence, I would look for any alternate wave count only above 8180.

The current decline is similar to the correction of 2011. Indian Market generally witnesses a major correction of approx. 30-40% in every 7-8 years. And it is observed that the corrective phase generally lasts for 11-13 months. Nifty Topped out in March 2015. So the current decline may last till April 2016; and Nifty may bottom out near 6800.

April 2016 may bring once in lifetime opportunity to Invest in Equities. So lets wait and watch. 


Thanks & Regards,

Harsh Dixit.

NIFTY - EW ANALYSIS

Hi Friends,

In my last post I mentioned about Head & Shoulder breakdown on Nifty. As mentioned Nifty is in complex correction in WXY.

NIFTY

Currently Nifty seems to be in 'a' wave of Y of the complex correction; which is further subdivided. Nifty seem to have completed extended 3rd of 'a' wave at 7540. It may bounce to 7850-7900 in 4th of 'a' wave and continue its decline to 7490-7440 later. Until Nifty stays below the neckline around 8000 it may further continue to decline to 7200. Only a sustained move above 8000 would be an indication of end of downtrend. And hence, I would look for any alternate wave count only above 8000.


Thanks & Regards,

Harsh Dixit.

NIFTY - HEAD & SHOULDER BREAKDOWN

Hi Friends,

In my last post I mentioned about Head & Shoulder Pattern. After the bounce to 8655 Nifty started declining. This is a channelized decline. It seems to be a complex correction in WXY.

NIFTY

Currently Nifty seems to be declining in 'a' wave of Y of the complex correction; which is further subdivided. Nifty broke below the neckline around 7960 and sustaining below it. Current decline may further continue till 7630-7540. After which Nifty may try to retest neckline around 7960-7990. Sustaining below the neckline may further open downside to 7230-7160.

 
Thanks & Regards,

Harsh Dixit.

NIFTY - EW Analysis

Hi Friends,

In my last post I mentioned about Head & Shoulder Pattern. However, Bulls managed to protect 8000 and Nifty bounced almost 50% of the Fall to 8561. This rise seems to be a part of Expanded Flat. Currently Nifty seem to have completed X wave of the channelized  complex correction in WXY.

NIFTY

After forming a Doji near 8500 Nifty dropped sharply and closed below 8385 which is initial confirmation of trend reversal. If it sustains below 8385-8420 we may see a further decline to 8185 and 7940 in future. Close below neckline near 8000 would further open a downside to 7500 in future.


Thanks & Regards,

Harsh Dixit.

NIFTY - Head & Shoulder Top

Hi Friends,

Nifty has been sliding down ever since it touched 9100. This is a channelized decline. It seems to be a complex correction in WXY.  

NIFTY - Head & Shoulder

Nifty has formed a Head & Shoulders Topping Pattern. Currently it is hovering around the neckline near 8000. If it sustains below 8000 we may see a further decline to 7600 and even more to 7300 in future.


Thanks & Regards,

Harsh Dixit.

NIFTY - EW ANALYSIS

Hi Friends,

The Nifty is in prolonged uptrend which started back in August 2013. Currently it seems to be in 5th wave of this uptrend. This 5th wave may extend upto 9450-9500.

The 5th wave is subdividing and currently Nifty seems to be in lower degree (V)th wave of the larger degree 5th. This (V)th wave is further subdividing and currently Nifty seems to be in (iii)rd wave of the (V)th of 5th. Which is also subdividing. The (iii)rd wave of the (V)th of 5th may extend upto 9250-9300; after which Nifty may witness some correction before heading to 9450-9500.


Thanks & Regards,

Harsh Dixit.