Friday, April 09, 2010

>Nifty elliot wave counts

Nifty didnot behave exactly it was anticipated in yesterdays post.
Maybe the 5 up had finished near 5400.The chart attached shows the concerned count.If this count works then some rise coming up .
There is another bearish count which could unfold the following chart shows that
It says from 5400 we have done 3 down rather than abc .
This count is valid till 5345 is not breached which would suggest it was a 5 down from top
Overall volatility is increasing which suggests fast moves possible in days to come .
I feel any rise (If any) above 5400 should be used to write calls .Would update if i find
something interesting nifty tries to do :).


Unknown said...

Hi Rish,

How do i get subscribed for your services ? what is the cost ?


Rish said...

Mail me at rishrich @ GMAIL DOT COM

Rish said...

Keep an eye on 5345 above that the second count negates..

Wroodrah said...

was actually shorting @ 5345 in fact, with a little SL at 5366.
taking a chance.
for a tgt near 5300, for the day.

Rish said...

Wroodrah that was my ideal trade too but since 5345 is broken up it looks less likely to do that as of now

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