Nifty Elliott Wave Analysis and Updates of 07 Jan 2014

| January 7, 2015

This is the Nifty Analysed Chart with most probable Elliott Wave Counts as on 07 Jan 2015:

Nifty Elliott Wave Counts

Nifty Elliott Wave Counts

And this is my view and action taken based on this analysis.

Two Possibilities are suggesting a good upside move above new high from here or from some lower levels. I WILL NOT SELL AT ALL… I will go for Buying only.. whenever see opportunities with stop loss.. Avoiding any SELL.. Its my personal View based on my personal Analysis without considering any News, Global Sentiments or Global factors..

And I also traded:   Bought 4 lots Nifty Future at 8117 (Spot) with Day’s Low as Stoploss. Took 20 points Risk Rs. 2000

Posted on my Facebook Timeline in Morning, Link

EW add 2

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"

Comments (3)

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  1. prashant bhatia says:

    Great explanation sir. Thank you. However, a question in mind, that nifty has closed below 100dma for second consecutive day. Please throw some light on it.


    • Deepak Kumar says:

      Prashant Bhatia Ji,

      I follow Elliott Wave Theory only and never follow any other technical indicator, data or news. SMA, DMA, EMA etc are meant to be broken.

  2. abhinav jain says:

    Grt… i was also assesing same count but was not confident, now after seeing your count become confident for buying…