Nifty Elliot Wave Analysis

Wow Bingo we went long right at the bottom,as mentioned onto the previous post we were looking for support to emerge around 7710-7680 lvl for a min. tgt of 7960 which was achieved on 27/11/2015

Now going forward we have to watch if Nifty(spot)able to sustain itself above 7960 then we can have a rally on the cards 8015-8040lvl should make resistance for this upmove.

Nifty Elliot Wave Analysis

Nifty took our support lvl of 7840-7815 we suffered a loss of 55pts,But as of now Nifty appears to be at crucial juncture which Charts are suggesting that a bottom is likely to emerge between 

7723-7710-7675 keeping these lvl's in mind Long can be initiated stp @ 7675 (closing SPOT) 

This becomes the best part about Elliot Wave Principle since it acts like a torch in the dark and shows us the way forward which indeed becomes really helpful in gauging the Market Strength and Weakness,as of now it is suggesting to be bold enough to go and take positions on the long side rather being onto the short side of the Markets.

Tata Steel Technical Analysis

Tata Steel looks like forming a bottom we are looking for long opportunity for the tgt 260.

Stop Loss 210(closing basis)

Nifty Elliot Wave Analysis

As Mentioned in the last post 18/10/2015 we were looking for shorting opportunities around 8344-8378 Nifty made High at 8336 and fell sharply.

Now going forward we have a support approaching around 

7840-7815 for quick pull back.