Wednesday, April 24, 2013

>NIFTY medium term ANALYSIS

Hi friends,
                   Taking further from my last post on nifty ,Had stated x wave is on which can target 5900-6000
Now this x can take many shapes we need to wait and see its structure ,Its almost reached trendline
resistance which is coinciding with 61.8%  (5870-5900) .Above that can target (5980-6000) 78.6%.
once this wave ends nifty can see lower levels ,Here i would like to make a brave statement we can go towards 5000 and lower levels.In wave terms i am equating this whole pattern from 2010 nov highs as a big abc structure with c being in initial stages of unfolding .This wave count stands wrong
if we scale a new high above 2010 nov highs.


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