Elliott Wave Outlook of Nifty for 21 Jun 2016 Onward
Nifty opened gap down today at 8115 but bounced sharply and traded with huge strength for rest of the day. Nifty bounced more than 130 points from day’s low 8107 to register day’s high 8244 before closing 68 points up at 8238.
In Yesterday’s report, I expected a bounce till 8210-8257 with very immediate stoploss of 8134 and advised to look at fresh pattern if Nifty open or break below 8134. Nifty opened below 8134 and then bounced till 8210-8257 range. There was a good trading opportunity when Nifty broke above 8135 after opening gap down which I explained later in this report. Let’s have a fresh look at latest charts for further scenario.
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