This post on NSE Nifty is coming after an earlier post on (26/5/16).
Following is the weekly chart of NSE Nifty. Its a bit untidy!!! It shows a long term channel, Elliott wave counts as well as a cup and handle pattern!! It is possible that the Nifty is currently in wave v of larger wave 3. A highly probable target for completion of wave v and so also wave 3 is 11000. The reasons to arrive at this target enumerated on the chart itself.
Following is the weekly chart of NSE Nifty. Its a bit untidy!!! It shows a long term channel, Elliott wave counts as well as a cup and handle pattern!! It is possible that the Nifty is currently in wave v of larger wave 3. A highly probable target for completion of wave v and so also wave 3 is 11000. The reasons to arrive at this target enumerated on the chart itself.
Another possibility is prices may be moving up in nested 1s and 2s, so that what is marked as iii may be wave (i) of some degree of wave 3. For now 11000 is the level to watch.
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