Nifty – Effect of Israel Palestine War
Does Elliot Wave work during unfolding of an Event. Initial shock, sinking in , reaction can all affect the market. Events influence market sentiments. Negative events do induce fear and result in selling. However all events , have a span and stop affecting the markets after some time.
It has been my experience that waves are shortened (or lengthened ) as per the negative or positive news as the case may be. It is almost like the affects of a passing storm at sea
However one thing is for sure that , when FINALLY the effects of the event (israel palestine conflict) are over, the markets will zoom up in a frenzy to make up for the lost time.
Best is to go along with the shortened wave counts until AN ENDING pattern is noticed.
NIFTY Opening On 10th Oct 2023