February 2, 2017

Nifty is Warning Cautions for Decline towards 8537-8327 – EW Analysis as on 02 Feb 2017

This Elliott Wave analysis report of Nifty for 02 Feb 2017 I am posting on my blog because this report has Elliott Wave counting on 1 minute chart which can be used as practical example by my students/book subscriber in future.

Nifty opened flat at 8570 and consolidated between 8540-8560 in first half but bounced sharply in second half by more than 160 points. Finally Nifty closed 155 points up at 8716 after registering day’s low 8537 and high 8722.

In yesterday’s report, bounce towards 8672-8765 was expected and suggested to hold Nifty longs taken at 8560-8549 with revised stoploss of 8519. Nifty achieved our expected targets range 8672-8765 without triggering the stoploss. Low for the day was 8537 and high was 8722. Let’s have a fresh look at latest chart for further scenario.

Read more at http://sweeglu.com/nifty-is-warning-cautions-for-decline-towards-8537-8327-ew-analysis-as-on-02-feb-2017/

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