Nifty - Elliott Wave Analysis

by Dean Market Profile on Wednesday, May 09, 2012 in Elliott Wave, Indices, Nifty

I am not suggesting a bottom yet. The trend is down and strong. So to preempt a reversal could be risky. But we have been proposing a target zone of 4950 - 4920 for Nifty on the downside. Its better to wait and watch, and keep an eye for a reversal pattern in this range, first sign will be a close above 5 DEMA. Also look for a positive divergence on STS and prices.

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, May 09, 2012

Nifty - Elliott Wave Analysis

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