Elliott Wave Theory

[durgesh]

Here is an EW Count on the 15 minute spot NIFTY chart. Looks like the expanding triangle scenario came into play and the triangle is complete .

 

[timepass]

So what's next ? Where can it go after the triangle is complete ? Your chart says possibly significantly more upside.

Here is an EW Count on the 15 minute spot NIFTY chart. Looks like the expanding triangle scenario came into play and the triangle is complete .

 

[durgesh]

So what's next ? Where can it go after the triangle is complete ? Your chart says possibly significantly more upside.

If market moves as per my count , I am looking for 7866-7802 on the downside.
Now, the alternate , if it proves me wrong then 8706,8997 on the upside .

 

[durgesh]

Here is a chart of United Spirits . Looks like it's moving up for 14k+ in wave 5 :cheers:

 

[anil_s_trivedi]

Here is a chart of United Spirits . Looks like it's moving up for 14k+ in wave 5 :cheers:

Dear Durgeshji,

You are the only hope for VJ Mallya...

Jokes apart, Thanks for postings on charts based elliott wave, to sandeepji and you too...

 

[ranjitsingh1974]

sandeepji, where are you????????

 

[niftyninjatrader]

Dear Durgeshji,

You are the only hope for VJ Mallya...

Jokes apart, Thanks for postings on charts based elliott wave, to sandeepji and you too...

Anil bro
Did you notice this is a monthly chart and 14K will not be a big figure when Sensex will be at 100K level and NIFTY at 30K after some years
After all McDowell is a leading market brand. :lol:

 

[market oracle]

In my opinion, Elliott wave theory has a very subjective version of (either/or) approach. Guys have any of you used it consistently? Has it worked? The measurements counting the waves spotting pivots are very subjective to be accurate. No two people can read it the same way.

 

[anil_s_trivedi]

Anil bro
Did you notice this is a monthly chart and 14K will not be a big figure when Sensex will be at 100K level and NIFTY at 30K after some years
After all McDowell is a leading market brand. :lol:

Dear niftyninjatrader,

Yes...indeed...tgts coming almost above 10K as per simple chart analysis. Will be watchable space here.

And stock almost have a good consolidation breakout in this range of 2000-2900 after trading almost 2-year in this consolidation period.

 

[durgesh]

Looks like Reliance is going to play a BIG role in the next upmove of NIFTY. The multi-year contracting triangle in wave 4 will be coming to an end soon.