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.




Rish said...

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

Rish said...

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

S.I.Hasan said...

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.


Rish said...

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.

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