August 29, 2016

Elliott Wave Analysis Updates of Nifty for 29 Aug 2016 Onward

This “Elliott Wave Analysis Updates of Nifty for 29 Aug 2016 Onward” I am posting as further updates on my last analysis report “Nifty is Still Indicating Bounce above 8728 – EW Analysis for 26 August Onward” as Nifty already declined very near to stoploss 8539.
Nifty opened gap up today at 8614 and bounced marginally till 8622 but failed to sustain at higher levels and declined gradually by 80 points from high to register day’s low 8547 followed by a bounce of 80 points before closing 19 points down at 8572 .

Yesterday, short term trading strategy was “Buying on Dips” and suggested to buy Sept 8800-8900 Calls on decline till 8541 using exact stoploss of 8539. Nifty declined very near to stoploss and registered low 8547 on Friday.

Let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/elliott-wave-analysis-updates-of-nifty-for-29-aug-2016-onward/

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