November 7, 2016

Elliott Wave Updates of Nifty for 07 Nov 2016 Onward

Nifty opened mild gap up at 8504 but again failed to sustain at higher levels and trader with negativity for rest of the day. Nifty declined gradually to register day’s low 8400 before closing 51 points down at 8433.

Friday, suggested buying Nifty only if trades above opening price at 9:31 AM (after first 15 minutes) otherwise more decline was expected. Nifty opened at 8504 but failed to trade above 8504 at 9:31 AM and declined till 8400. Nifty 8900-9000 calls bought in light quantity in 45-27 range 2 weeks back is near to Zero and this trade is almost failed. Let’s have a fresh look at latest charts for further scenario.


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