Nifty - Perspective from Elliot Wave

The markets are currently moving aimlessly. There seems to be no clear cut direction right now. Let us look from the Elliot perspective. 

1. The markets made a significant low of 22182 on April 2nd. It rallied from there to 24602 on April 21st. From there in 1 month, it has come down to a low of 23262 on May 13th.

2. If we take 22182 - 24602 as wave 1, it covered about 2420 points. Corrective targets down would be 23670, 23392 and 23105.

3. Only 23105 remains pending. Below 22700 we are headed towards new lows and above 24118 we are headed towards new highs.

4. The area 24300-24600 was a massive support zone earlier and it will not clear that very easily.

In a nutshell, the markets have taken more time to correct but not yet breached the 61.8 pc of the up move. The 3rd wave when it starts would be a powerful up move taking us to new highs.

Commodities - The ongoing boom and the next opportunity

 Commodities have entered into a secular bull run. With the help of a few charts, I will demonstrate how in the last 10 years commodities have gone multiple times.

It started with precious metals like Gold and Silver.

 

Then it extended to crude oil and metals like copper. Charts are shown below:

Now, the boom is spreading to agri commodities like rubber, cotton and so on. You can track these prices here:

https://tradingeconomics.com/commodities

The whole objective of this exercise is to identify stocks from these sectors and bet on them to make a killing from multi baggers.