January 12, 2018

Elliott Wave Outlook of Nifty for 10 Jan 2018 Onward

Nifty opened higher at 10645 and bounced further to register new all time high 10659 but declined sharply by more than 50 points to register day’s low 10603 and finally closed 13 points up at 10637.

Yesterday, a decline of 50-80 was expected before breaking higher above 10657 but 10583-10553 was good support range on downside from where the bounce for new high was expected again. Trading strategy was to book profit in existing longs in 10631-10724 range and fresh buying was suggested in 10583-10553 range. Nifty declined 50 points from 10659-10603 without breaking higher above 10657 as expected and closed at 10637. Let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/elliott-wave-outlook-of-nifty-for-10-jan-2018-onward/

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