Nifty Elliott Wave Analysis and Expected Levels for June 2015

| May 24, 2015

Today I analyzed medium term charts to conclude probable move of Nifty in June 2015 after RBI policy as I am getting many queries about latest updates on my previous long term Elliott Wave Analysis Report Save Money For Next Bull Rally Of 1200-1800 Points In Nifty  . I am posting only analyzed charts here without theoretical explanation as it is already sent to my subscribers/clients. Let’s have a look on charts.

Daily chart of Nifty covering wave counts after 2013 low 5118

Daily chart of Nifty covering wave counts after 2013 low 5118

 

Daily chart of Nifty showing the progress of wave 4 as Complex Correction

Daily chart of Nifty showing the progress of wave 4 as Complex Correction

Read Triple Zigzag Correction of Elliott Wave Theory Explained by Deepak Kumar to understand the structure of Complex Correction and it importance which is shown on above chart.

 

15 Minutes chart of Nifty showing waves after 7997

15 Minutes chart of Nifty showing waves after 7997

 

After analyzing every condition on all medium term and short term charts, This  rise is expected to continue till 8505 and above to complete wave (C) followed by one more sharp decline which needs to go below 7997 again to complete last ‘abc’ cycle of complex correction.

We can expect a great bull run of about 2000 points after completion of wave 4 within 7997-7800 range.

The levels suggested in this reports are just estimated and exact nearby levels can be calculated only when wave is near to its completion. So, first eye should  be on 8505 -8633 on upper side and then decline below 7997. Further scenario can be concluded later.

Note: This analysis of Nifty is purely based on Elliott Wave Theory without considering other technical, fundamentals,   news or important events.   This analysis is just homework and any trading decision can be done only after identifying short term wave patterns with small stoploss. Read my daily analysis reports for latest updates and short term levels.

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Category: Nifty

About the Author ()

Deepak Kumar is an independent Technical Analyst, regular practitioner and Trainer of Elliott wave theory applying Elliott's Wave Principles on Indian Markets successfully since 2011 and made many accurate predictions. He is also the author of book "Practical Application of Elliott's Wave Principles by Deepak Kumar"

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