Wednesday, June 17, 2015


CNX Nifty:

We need to observe that the upcoming two weeks are the crucial decision points for the market price trend. Said that, we can anticipate a more positive outcome due to the upcoming announcements of the infrastructural and housing initiatives which are further to enhance the market forces taking the Nifty price point to 8300 levels. But, there exists a technical viewpoint with respect to the long term reversal trend formation (Head & Shoulder pattern) which given a chance would give the market a drift back of 1,000 points bearish (though highly unlikely as we can see that the price has already moved along the 3 bearish motive wave according to the Elliott Wave theory and will see two bullish motive waves soon which might help recover from this technical trap).

Please post your opinions in the comments.

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