September 19, 2016

Elliott Wave Outlook of Nifty for 19 Sep 2016 Onward

Nifty opened huge gap up on Friday at 8780 and bounced sharply by 100 points to register day’s high 8847 but failed to sustain at higher levels and declined back by 100 points before closing 37 points up at 8779.

Friday, trading strategy was to buy 8900 if get in 8760-8778 range with 30 points stoploss expecting targets below 8688 but further advised to avoid this trade if Nifty opens above 8778. Nifty opened above 8778 and trade for the day was negated. Let’s have a fresh look at latest charts for further scenario.

Today I am covering move from 29 Feb 2016 low 6825 and previous waves counts are explained in my all time frames report Elliott Wave Counts of Nifty for All Time Frames as on 18 July 2016.

Read more at http://sweeglu.com/elliott-wave-outlook-of-nifty-for-19-sep-2016-onward/

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