Nifty - Elliott Wave Analysis.

by Dean Market Profile on Wednesday, March 07, 2012 in Elliott Wave, Indices, Nifty

Hourly EWP

Nifty may be forming a TZZ correction, as labeled in the chart. Prices may have completed the TZZ correction or it may take some more downside before we complete this TZZ. One cannot be too sure about corrective formations but if our analysis if TZZ formation is correct, we must not be too far from a bottom. 5077.2 is a critical level for me, once this level is taken out, I may reconsider my analysis. On the upside though, if we cross 5381.7 we may well be on course the most dynamic wave III.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Wednesday, March 07, 2012

Nifty - Elliott Wave Analysis.

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