Nifty - Elliott Wave Update

by Dean Market Profile on Tuesday, June 04, 2013 in Elliott Wave, Indices, Nifty, Updates

Nifty did correct from the resistance zone of 6140-6070, and fell down towards the previous support zone of 5970-5935.
This support zone has held prices for last 2 days, also a 3 wave move is visible on the charts.
Now if this support zone is respected, we might have seen the completion of wave {a} or even wave (b). in either case we may see prices rising from this support zone, and head towards the top of wave (a), at least.
If prices break below this support zone convincingly, we may see further down move towards 5750 levels.

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...

No comments:

Post a Comment

...I am thrilled to learn what you think about this piece of content...

Disclaimer

REQUIRED US GOVERNMENT DISCLAIMER & CTFC RULE 4.41

Futures trading contains substantial risk and is not suitable for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only consider risk capital that should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. CTFC RULE 4.41 HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS SUCH AS LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. All trades, patterns, charts, systems, etc., discussed in this website or advertisement are for illustrative purposes only and not construed as specific advisory recommendations. All ideas and materials presented herein are for information and educational purposes only. No system or trading methodology has ever been developed that can guarantee profits or prevent losses. The testimonials and examples used herein are exceptional results which do not apply to average people and are not intended to represent or guarantee that anyone will achieve the same or similar results. Trades placed on the reliance of Trend Methods systems are taken at your own risk for your own account. This is not an offer to buy or sell futures interests.

Tuesday, June 04, 2013

Nifty - Elliott Wave Update

No comments:

Post a Comment

How can I help you?

Facebook

Popular

About Me

Blog Archive

Disclaimer

Recent Comments