Elliott wave, Neo wave and Time cycles are working amazingly well. We captured a move of 100 points on Nifty and 500 points on Bank Nifty in just a single day!
Below is the hourly chart of Bank Nifty showing detail analysis using Neo Wave and Fibonacci series.
Bank Nifty 60 mins chart:(Anticipated as on 28th November, 2018)
Bank Nifty 60 mins chart:(Happened as on 29th November, 2018)
(Below is the gist taken from The Financial waves Short Term Update” published in the morning of 29th November, 2018 before market starts)
Elliott Wave analysis:
Bank Nifty witnessed a buying interest post making a low near 25947 levels.
As shown on daily chart, we can see that prices have given a break above its resistance of 26400 and managed to sustain its grounds. From past 3 consecutive trading sessions it has protected the previous bars low. Wave (b) is ongoing on upside which has retraced 50% of wave (a) move. So, further break above 26585 can extend wave (b) towards 61.8% which is near 27000 levels. BANG ON!
As shown on hourly chart, Diametric pattern is under formation of which wave e is ongoing on upside. Break above intraday high of 26585 can extend wave e towards 27000 which is near its blue resistance trendline…..
Happened: We have been mentioning in our report the importance of 26000 level when prices showed a recovery from the lows of 25000 levels. Intoday’s session, Bank nifty has shown an exceptional rise. Prices indeed moved higher and touched 27000 mark.At the same time Nifty also showed a strong rise and moved exceptionally well. It touched intraday high above 10880 the target we have been mentioning for quite sometime.
The following is the analysis done on Nifty 50 index in our equity report published in morning of 29th November, 2018.
Elliott Wave Analysis:
In previous update we mentioned that “trend for Nifty is positive and we can expect a move towards 10750 levels. Further break above this will take prices towards equality target of 10870. Expect some volatility to take place due to the expiry.”
As shown on hourly chart, prices have completed wave b and are moving in the form of wave c and managed to sustain above the gap area. We are showing ADX indicator on the hourly chart this indicator shows the trend strength and this indicator has bounced from the support zone and is rising showing strength on the upside. One can trail their stop towards 10600 a break below which might keep prices in a range. On the upside a sustained move above 10770 will resume the upmove and take prices higher towards 10870.
In short, Nifty can continue to move on the upside as of now. Trend will remain positive unless …..
Both Nifty and Bank Nifty moved brilliantly as per the pattern we have been anticipating. The wave theory is working it its best as of now and you should get access to daily research report to see how far can we move now. We turned bullish near 10000 and stayed on long side since then. The key is to keep riding the trend. So what is next?
To know what will be the next move of these indices as well as to get a clear trade setup on stocks subscribe our equity report published on daily basis in morning before equity markets start under the name-“The Financial Waves Short Term Update” – Get access here
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