Saturday, October 24, 2009

>Nifty Elliott wave possibilities

Hi Friends,
I hope these Nifty analysis post helped many to minimize their risk.
Nifty reversed from 5180 mentioned level,Well the fall from there has unfolded though
its still debatable whether A exhausted near 4968.

Three scenarios

1) 4th of A underway
2) 5th of A underway
3) B underway

Lets not get into describing the chances of any of the above possibilities.
The thing which looks eminent at current juncture is nifty should rise from present levels
or after some more fall ,I don't see nifty witness deep cut as of now with out rise.

Mondays trade should clear much dust and should reduce these alternative count possibilities.
The success of Elliott wave analysis lies in how well you adapt to the fast changing waves, For
this reason only an Elliott guy would usually have 2,3 counts on hand:)


PS:- The order of wave count yellow white red (Least to highest)



Rish said...

The chart shows the ideal count a fall to double bottom completing 5th of local c and bump up rise!!

Anonymous said...

Hi Rish, what you feel should be upmove target & would it be final upmove before long awaited correction and what is the time frame you feel, by expiry of current month it should top out & then start correcting..?? If possible please post chart of Hourly & Daily with your counts.. Your best efforts on count do help us to learn a lot & helps to take trading decession..!!!

Rish said...

Hi Anonymous it would be nice if you post query with name:)

This is debatable that high is made ,I feel we still may have another high to be made the main puller of nifty Banking index looks like have another one up wave pending nifty movement in next few days should clear much dust wait patiently.

Masud said...

the counts u've posted are on 1-min chart. and its possible that ur suggested rise may be eaten up in gap-up opening. so to make money using this chart one must have position on friday itself.

Rish said...

Yea yea if it has to go up from here only position had to made on Friday only ,Though since these are corrective ups ,I am not interested in very short term longs rather looking for good levels to short.

Anonymous said...

Hi Rish Thanks for your comments.. I had tried to post my comment with my google account but it was not permited, hence I had to post that way. Though I am getting your regular updates through group subsciption of Egle Eye Trade & Aiii under my email ID At what levels U R looking for short..?? Also can U post Nifty Hourly & Daily with your comments and counts..??

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