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Wednesday, February 15, 2017

Nifty : A fresh look to Time Frame 34DaysCycle



Nifty index over  20 years period is best covered in a Chart of symmetric 34 days with proper MACD  (5,34,5) aka Elliot Wave Oscillator ; in this instant , it is from 11/10/1996 to 09/02/2017. Chart speaks for itself :


Out of 150 candles, Bebo aka Macd (5,34) were in positive territory 113 times & just 37 times in negative. Most interesting facts are summarized in the following Table : observe Nifty starting with  ATL low (775) corresponding to Bebo value of { - 70 } swing up & down to ATH high (9119) with extreme Bebo value of 1916. 



According to : http://www.feedroll.com/technical-analysis-oscillators-indicators/700-elliott-wave-oscillator-ewo/#disqus_thread  the highest values of the EWO are during the Third Wave ; it looks to me 9119 qualified as such. Subsequent swing low did not yield a Zero Line cross down but gave a low value of 342 as such a fall of 1574 from previous value. In the attached TF 5DaysCycle chart, a zero line cross down is visible. Also, similar a zero line cross down is visible in TF 8DaysCycle, 13DaysCycle & 21DaysCycle (Single candle only)




Further  to : http://lalitlk-lalit-lk.blogspot.in/2016/09/analysis-of-nifty-with-step-sum.html  I am sharing a table for the full range of Index under studies: 


#1 : Nifty all time low ATL 775.43 had a Step Sum value of minus 35 based on 119 “Step Up” & 154 “Step Down”.
#2 : On 30/10/2002 step sum showed a 0 (Zero value) & remained positive since then.
#3 : With ATH in Nifty at 9119, step sum showed a high of 313 based on  2565 “Step Up” & 2252 “Step Down”, subsequently after a peak of 314 & low of 286 and  it came out of the range to show a high of 320 on 13th February 15, 2017.