Elliott Wave Analysis Report of Nifty for 11 July 2016
Nifty opened mild higher at 8350 but traded with negative bias for rest of the day. Nifty declined below 8300 to register day’s low 8287 followed by a bounce of 40 points before closing 14 points down at 8323.
In my last report, I mentioned that 8317-8267 range is possible on downside and strategy was to hold shorts and Sell on rise expecting 8317-8267 as target range. Nifty declined till 8287 without hitting stoploss and bounced back again. Let’s have a fresh look at latest charts for further scenario.
Today I am covering move from 24 June 2016 low 7927 as previous waves are same as I explained in my previous analysis report Elliott Wave Updates and Outlook of Nifty for 08 July 2016
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