Nifty Elliot Wave Analysis

As it was already mentioned onto the previous post we had a fantastic run-up

From the lows of 25/08/2015 from 7667 to 8091.Now that's 400pts Rally Right Bang on !!!

As per chart pattern now it suggest the wave iv will most probably Fizzzle out MAXX by Monday 31/08/2015

After which we will have retest of the lows.

Shorts Can Be Initiated Strict Stp loss 8110 (Nifty Spot)

Nifty Elliot Wave

Its Market Mayhem nowhere to hide,CASH IS KING so open your Purse and go shopping when the time arrives as of my last post on 23/08/2015 i mentioned 8060 for nifty support since it was taken like a piece of CAKE!!!We Still have the road map moving forward right now markets are in tandem with international markets & lot of gung hoo with blame games for china pulling the 

trigger and bla bla...etc 

With the help of Elliot Wave Theory we can make the odds in our favour moving forward we are having termination of BIG WAVE C also hopefully end of WAVE 4 tgt/cluster zones

The Cluster Zones are :-

1st 7525-7470

2nd 7233-7144

Time Cycle giving a sharp short term reversal on 25-28th august

 I would like to take the opportunity here with all of you i am expecting a 

BIG RALLY AFTER THE DUST SETTLES DOWN for WAVE 5th UP,

And I am very sure the Markets wont disappoint me even this TIME as like in past.

In times like these we have to be patient enough for being in the right side of the Markets

Nifty Elliot Wave Analysis

As it was mentioned in the previous post that Nifty Would face stiff Resistance at 8565-8565 lvl it did face a lot of selling pressure as it tried to crawl upwards our all 3 tgt of 8280-8250-8228 were met with in 2 days as of now nifty has meaningful support at 8060 lvl from where a bounce can be expected,otherwise more fall likely if 8060 is not held onto closing basis.

Crude Oil Elliot Wave Analysis

As per my last post it was advised to go long in Crude only if trades above 2995 as suggested you all know it hit high of 2989 and was again back on the journey down 

http://tradingwithabi.blogspot.in/2015/08/crude-looks-like-have-taken-many-of-us.html

As of this writing i am seeing the downward momentum in Crude Oil diminishing and we again have the very good trade setup according to the Elliot Wave(Price Pattern) As Wave 1 to 5 pattern is coming to an end with wave 5th being E.D(ending diagnol) & Gann(Time Cycle) which is indicating the potential Reversal is Imminent the low(2732) might me place for medium term uptrend OR 

Else we have a cluster of 

Massive Support Zone around 2730-2670 on the charts.

A Trade Can Be initiated on the long side above 2802 Keeping Tight Stop of 2670 closing basis 

TGT 3040/3180/3228

Nifty Elliot Wave Analysis

As per my previous analysis nifty couldn't give us closing above 8590 and it rewarded us Handsomely Markets did respected our lvl and gave us down moves of 300/250 pts Twice.
You can refer back to my post for the same 

As Per Elliot Wave analysis of Intraday (hourly) Market Chart we are all set for the fall for 
WAVE 3 to emerge upto 8280-8250-8228 
The stiff resistance lays @ 8555-8565 
So trade can be initiated for small stop of 35pts and have tgt atleast 100-150pts
Risk/Reward 1:3

Now we are at a very CRUCIAL JUNCTURE in Nifty & Again need the Road-Map for future Direction with the help of Elliot Wave Analysis we can full-fill it most of the time.

IF Nifty Manages to close above 8600lvl (alternate count scenerio)

As Per My Latest Analysis of Price Action:-

After today's move 14/08/2015 a very high probability has come to the picture that we ended with

(e wave)in B(Triangle)  now ON-Starting with Wave C for which we can Travel upto 8870-8970

This analysis will hold true if NIFTY manages to hold ABOVE 8600.

In Times like these one has to be patient enough for the outcome we should be waiting before pulling the trigger will watch the PRICE ACTION FOR THE COMING WEEK WHICH WILL DEFINITELY GIVE US MORE CLARITY & LOOK FOR BREAKOUT FROM THE TRIANGLE, LEVEL TO WATCH OUT IS 8600 ONTO CLOSING BASIS FOR NIFTY SPOT IF HAVING A CLOSING ABOVE THIS IN NEXT WEEK WE ARE HEADING FOR ABOVE MENTIONED LEVELS.

CRUDE LOOKS LIKE HAVE TAKEN MANY OF US BY SURPRISE!!!STOP LOSS CUT

But according to my knowledge of the financial markets once something like this pattern appears on the chart embrace yourself to take the trade again onto the sides which is of LEAST RESISTANCE.

Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct.

 In other words, don’t be an impatient trader(JESSE LIVERMORE)

THE DAILY ACTION PERFECT 

CANDLESTICK REVERSAL PATTERN (MORNING STAR)TAKEN OUT !!!

BUT ELLIOT WAVE PATTERN SUGGESTING A DIFFERENT BALL GAME ALTOGETHER

I AM DEFINITELY LOOKING FOR A REVERSAL ON CRUDE JUST WAITING FOR THE RIGHT MOMENT TO SEIZE THE OPPORTUNITY(when knowledge meets chance) 

For u all folks once it trade above 2995 

get back in with keeping low of day as stop loss point.

Nifty Ripe For correction elliot wave pattern suggest will REACH 8228 !!!

Nifty(spot) has stiff resistance around 8530-8590 area 

Also we had a breakout from the classical wedge chart pattern

Elliot wave Pattern also suggest the correction can be ferocious moving forward from here.

Shorts are advised with S.L being 8590(spot)closing basis.

Risk/Reward 1:3

Tgt 8228