Monday, December 06, 2010

>Nifty elliott wave counts

Hi Guys,
Nifty trading at a crucial juncture ,Both side big move possible.
The following chart shows the possibilities.If the fall from today's top remain shallow Yellow colour wave possible.
If the fall stretches deep then red color wave possible.
The shallow fall suggests after 1 up small 2 happening.
A deeper fall suggests a bigger abc underway.
Alook at individual heavyweights can give more hints about future direction of nifty.
SBI if holds 2925-2900 gives strength to yellow wave possibility.
Lets see how waves unfold