Nifty opened gap up on Friday at 7912 and declined till 7879 but bounced sharply from lower levels and traded positive for rest of the day with volatility. Nifty bounced almost 80 points from low to register day’s high of 7959 before closing 58 points up at 7942.
I expected a gap up above 7897 in my previous report and suggested to buy Nifty with stoploss of 7874 expecting targets of 7935-7956. Nifty opened at 7912, declined till 7879 and achieved 7935-7956 without breaking below 7874. Let’s have a fresh look at latest charts.
Today I am showing Elliott wave counts only after 16 Nov low 7714 as previous counts are same as I explained in my yesterday’s report Nifty EW Analysis for 19 Nov 2015 – Perfect Example of 3-3-5 Flat Correction.
Elliott Wave Counts of Nifty on 5 minutes chart:
Important Levels of Nifty for Tomorrow 30 Nov 2015 are 7970-8014 on upside and 7905 on downside. There can be some pause on upside or some decline from higher levels.
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