Tuesday, April 27, 2010

>Nifty elliott counts

The present wave structure of nifty is quite sticky .
Wave wise it gives many probabilities,Further few days move can clear
much dust.

The move from 5400 to 5160 can be a 5 wave as well as 3 wave too.
Though 3 wave look more comfortable , labeled it.
The move past 5160 and above is a mixture of zigzag can easily see two zigzag
attached with X wave.
A fall to 5250 is not ruled out if 5330-5340 is not breached in a day or 2,
A bullish scenario could be a drift towards 5250 and then a upmove targeting 5400.
A bearish scenario would be 5down dome from 5400 to 5160 3 up done from 5160-5340
and now another 5 down can start.
Wait and watch how waves unfold.


Anonymous said...

update on the EW count please.

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