December 27, 2016

Elliott Wave Updates of Nifty after Break Below 7916

Nifty opened mild gap down at 7965 but declined sharply just after opening and traded with negative bias for rest of the day. Nifty declined more than 80 points before closing 77 points down at 7908.

Yesterday, one more decline towards 7942-7932 was expected and then suggested to buy Nifty in 7942-7932 range using exact stoploss of 7915. Nifty declined till expected range but failed to bounce back and further declined below 7915 triggering the stoploss. The possibility of Irregular Pattern we were expecting is also negated after touch of 7915. Let’s have a fresh look at latest charts for further scenario.


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