November 24, 2015

Nifty Elliott Wave Theory Analysis for 24 Nov 2015

Nifty Elliott Wave Theory Analysis for 24 Nov 2015

 | November 23, 2015
Nifty opened mild Gap up today at 7869 and bounced till 7877 but traded in 50 points range for rest of the day with negative bias. Nifty closed 7 points down at 7849 after registering day’s high of 7877 and low of 7825.
I my last report, I mentioned that the possibility of good upside but the upside must be faster, any slow move or consolidation below 7905 will create doubts in up move. I also suggested buying in 7836-7794 range with stoploss of 7883 for minimum targets 7905, Nifty entered in 7836-7794 range but bounced till 7864 only and closed at 7849. An intraday trade gave only 15-25 points profit. Let’s have a look at latest charts now.

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