WaveTrack International

Elliott Wave Financial Price Forecasting

Some serious drop overnight (India)

by m.tamosauskas| August 21, 2013 | 4 Comments

11_CNX Nifty 50_130821

Back from holidays 🙂 As I can see, weak markets started to roll over. Hope all of you stayed safe, but don’t fall asleep – a buying opportunities are clearing up. India is showing extreme weakness. A dramatic sell-off during the last days has brought India’s Nifty already into min. original downside targets at 5282.30. Normally, a reversal signature would now be expected to initiate upside acceleration in the months ahead. However, the substructure of the downswing from this year’s high of 6229.45 so far is incomplete. Moreover, the correlation with most other U.S., European and Asian indices suggests a sustained devaluation lies ahead. All combined, the probability clearly favours a continuation lower. The cut-off point to differentiate between the scenario depicted in the former issues and the one proposed in this chart is 5191.90 – acceleration below there would validate a much larger downswing to 4531.15+/- in the months ahead. This implies a modification of the entire pattern from the Nov.’10 high of 6335.90.

Category: India-CNX Nifty 50

Comments

4 Responses to “Some serious drop overnight (India)”

  1. Manjunath sk
    October 29th, 2013 @ 6:22 am

    Dear sir,
    Nifty TOP 6253, Are we in Primary wave C , where wave 1 completed at 6143, now in irregular wave 2 . another alternate view is still in Primary wave B, Where wave A completed at 5120 Now in Wave B in progress then Fall in to Wave C of Primary Wave B

  2. Wavetrack International
    October 29th, 2013 @ 12:34 pm

    Dear Manjunath,

    as of 5th of October 2013 we introduced an alternative count in EW-Compass report that shows primary wave B as completed into the 4531.15 low. The following advance is expected to unfold into a leading expanding diagonal pattern as intermediate wave (1) of primary wave C. For more details please refer to the latest EW-Compass report.

  3. Manjunath sk
    November 23rd, 2013 @ 8:52 am

    Dear sir,
    Can you post the current preferred counts & alternate counts for Nifty

  4. Wavetrack International
    November 25th, 2013 @ 12:04 pm

    Hello Manjunath,

    This blog provides free extracts from our latest EW-Compass reports to encourage new people to subscribe if they really like what we do. Revealing our latest counts here would be not fair to all our current customers. Please, become an EW-Compass report subscriber if you want to get regular updates for CNX Nifty 50 contract.

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