Wednesday, October 21, 2009

>Nifty elliott wave analysis

Hi friends,
Nifty behaved the way it was expected in last few days saw it falling from 5180
levels to 5050 a fall of 150 points the fall looks to have completed 5 down probably "a" wave
Now we should witness a corrective up probably a 3 wave up can target any where between
5100-5150 .
I would look to short this in rises.The above chart shows the present move + expected move.

Regards
Rish

RESEARCH REPORTS

4 comments:

  1. Expected rise is underway lets see whr in finds resistance levels to watch 5080-5100

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  2. looks like a wave extension no higher levels came for fresh shorting!!

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  3. Hi Rishi,

    It has found resistance at 5060 level and touched 4970 levels. So does that mean, it has completed wave abc?

    PS: I follow you regularly, great job on your posts and analysis.

    Thanks,
    Saeed

    ReplyDelete
  4. Hi Saeed,

    Waves will get clear in a day or 2 as of now the trendline resistance is near 5050 any rise till there can be sold.

    ReplyDelete