Thursday, February 20, 2014

Nifty elliottwave patterns

Hi friends,
                   Nifty keeps us guessing ,Yesterday it stretched above 6130 and today it fell below
6100.In my last post i had expected this fall though levels were not matched perfectly.
Look at the old post Nifty Technicals.
Lets look at the present structure of nifty Index.
Nifty elliottwave patterns
If you see the last post
chart the fall has come
I would look for a bounce
back from 6060-50 levels.
The chart is self explanatory
If we go below lower
trendline then chances of
this pattern failing gets
Lets look at one more
possibility which shows

same price movement but elliott wave counts differ.Lets look at the chart.
Nifty elliottwave patterns
This count assumes we
had c wave failure in
W ,ie c low was not
lower than a wave low.
This wave count too
suggests a fall till
6060-50 in fall of b
wave ,This abc would
be part of x wave.

Lets see how nifty moves in next few days .



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