Tata Steel Elliot wave & WOLFE WAVE PATTERN

So as per our previous post onto Tata Steel it finally touched our tgt of 260 and made a high of 266,we recommended to initiate longs around 216-218 lvls as on post dated 14/11/2015.

Going forward we are having a formation of WOLFE WAVE PATTERN(these pattern are very strong pattern which are very common in Professional Trading Community) in Tata Steel if 266 lvl is not breached onto closing this Trade Setup Can Really hammer the stock down to lower lvl 245-240.

  

nifty elliot wave analysis

HEY FIRST OF ALL A VERY HAPPY NEW YEAR 2016 TO ALL.

As per our previous post Nifty(spot) managed to give us a closing above 7860 as of now market structure does not looks convincing for an quick up move the volumes are really shallow we are to have some kind of directional move after 4th jan 2016 onward till then it will be trading in range of say 150-200pts i.e 7800-8000 now if (spot) nifty makes a closing above 7985 then that will be the first indication of bulls overpowering the bears, so for all shorts stp is 7985.

Going forward we still maintain markets to face resistance 7928/7946/7970

shorts can be initiated with strict stp 7985

Nifty Elliot Wave & Gann Analysis

As mentioned onto the previous post we were looking for support for Nifty (spot) @ 7540/7470/7348 Nifty Made low of 7551 and gave a superb Rally of 300pts from there on.

Going Forward it seems like Nifty is developing an ED out of which wave 4 seems to be completed and if 7860 is not taken out we can have this down move upto 7500 lvl ,A minor support Exist around 7710-7700 lvl.  

Nifty Elliot Wave & Gann Analysis

Ahhh the Markets were Hammered Brutally by the Bears after our warning for Impending Trend Reversal in Nifty which has already fallen more than 350pts!!! with fierce down move,

Going Forward we have support @ 7540-7470-7348 for the completion of this down move and time cycle which can lend support begins from 18th Dec-22 Dec (+3days-3days) 

Tata Steel Elliot Wave Analysis

As per our last update for Tata Steel it was mentioned to go long & the stock outperformed the broader Markets, the stock is up 12% since our update, going forward we still maintain our 

Initial Tgt 260.

Gold Elliot Wave Analysis

As per repeated calls & mails for having scenario update towards Gold(mcx) this is my analysis towards the same,As of now it looks like WAVE C completed and we can have a rally towards 25850-26175 

If support @ 24880-24815 is held. 

Nifty Elliot Wave Analysis

As per the lvl mentioned onto our previous post Nifty struggling to close above 7960,

As per the Market Structure it looks like (leading Diagnol) we are going to have a Trend Reversal from the Resistance lvl.

Resistance Stands @7960-8015-8040