Road clear for Nifty Year End Rally. Expect 3rd #Elliottwave!
The Nifty 50's Elliott wave pattern looks like a rally just started that will carry on well into the year 2018.
Past days wave action transformed the drop from November 6th into a three-wave corrective pattern. The road to the upside is now cleared. We forecast strong gains for the weeks ahead as the Indian market appears to be inside a third wave to the upside.
We'll let the wave action develop further before we forecast here specific targets. For the moment our long position as well as bullish forecast seem to be on the right track as more evidence adds up for our case.
Past days wave action transformed the drop from November 6th into a three-wave corrective pattern. The road to the upside is now cleared. We forecast strong gains for the weeks ahead as the Indian market appears to be inside a third wave to the upside.
We'll let the wave action develop further before we forecast here specific targets. For the moment our long position as well as bullish forecast seem to be on the right track as more evidence adds up for our case.
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Nifty traces first of wave of subminuette wave iii
Trade stängt: målet nått:
closing trade... the pattern is getting complex here. risk / reward shifts from good odds to 50/50
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2.9% from initial trade