Sunday, February 26, 2012

>Nifty elliotwave analysis feb 27th

As for the previous post had expected nifty to stop near 5650 or keep going up.
It has stopped near 5650 and profit booking emerged .Read old post (NIFTY)
Now on the downside 5370-50 is a good support band if this is saved nifty can attempt
rise towards 5550 and well may end up making a lower top by this weekend.
lets see how waves unfold by this weekendthe picture would get lot clearer.Many midcaps which had spiked violently are cooling off ,Its prudent to wait till
nifty shows upside strength .



M Suren babu said...

Does that means wave B is over and C started?.If not, at what level would the confirmation come through?

Rish said...

Suren thats a big question not sure if C has started ,I need more price action so that the fall from 5630 can be resolved properly .

DCStrader said...

has the C started?
what are the likely targets of C?

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