June 23, 2016

Elliott Wave Outlook of Nifty on Important Event of BREXIT

Nifty opened almost flat at 8213 and bounced marginally till 8238 but failed to sustain at higher levels and declined more than 80 points from high to register day’s low 8153. Nifty bounced again from low by 50 points before closing 16 points down at 8203.

In Yesterday’s report, I expected a decline till 8160-8110 from present levels and trading strategy was selling on rise with immediate stoploss 8258 expecting downward targets 8160-8110. Nifty gave good low risk opportunity to sell with just 20 points stoploss when bounced above 8235 and then achieved first target 8160. Let’s analyze latest charts for further scenario.

Read more at http://sweeglu.com/elliott-wave-outlook-of-nifty-on-important-event-of-brexit/

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