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India

Nifty India - bearish outlookThe price is in Weekly/Daily ascending channel (green). Now, forming a falling wedge (bullish signal). The Fib C is at 61.8%, where price made bearish engulfing pattern to head south. D1 target is in line with 0% of AB swing and ascending price channel (8271), on break of this next target is D2 at 8040. However, I am expecting price to come at 8271 and then go north following the ascending channel (atleast retest 9120). Any break in channel would lead to re-analysis.
NSE:NIFTYShort
by jutkarsh
2
NIFTY ELLIOTT WAVE ANALYSIS _ INDIAFrankly, I could come up with a variety of counts for the market right now. About 4 counts say that the market has reached a top and we should be ready for a minor correction till July and then prepare ourselves for a bull market again. Analyzing the expanding ending diagonal proved to be tough. We could go up to the resistance zone indicated by the box and go down till minor wave 4 of wave 5 or make a new high till the extension of the top trendline of wave 5 and go down all the way. Final Conclusion: We will go up for a week(7-8 business days) and then head all the way down to 7750. Be prepared to take shorts when you see an opportunity.
NSE:NIFTY
by Elliottician
10