>Nifty end of day 25th april

Hi friends,
                     Nifty continues to go up in a spiky fashion ,A characteristic of X waves

running as if no tomorrow.
The hourly chart shows a parallel
up channel yet to be violated look for a breach the early sign of weakness fib shows this can conquer 5980-6000

>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.

>TATAMOTORS TOPPING PATTERN FORMATION

Hi friends
                   Tata motors after witnessing multi year bull run ,Has started to show
exhaustion in strength as its evident by the corrections in short duration in a slanting
upward direction in technical terms we could be forming a rising wedge or in wave terms
ending diagonal with last leg of rise going on.

 As seen from the above chart this topping pattern has emerged after a multiyear extended
3rd wave.In 2008,Tata motors acquired the British car maker Jaguar Land Rover,There were lot of rumors about the difficulty by which Tatas funded the debt ,Well 2009 to 2010 saw extended 3rd wave rally in it :). 
In this final push up levels of 360 can be seen where investors should look to
book their profits and traders can look for shorting opportunity.Would be looking closely Tatamotors
for next few weeks:).

>USDINR Target

Hi friends,
                   USDINR has been in the range of 53 to 55.50 for many weeks now
When i breakdown the waves i see a lot of abc's around which indeed suggest of a rangebound
move to continue for some more time .
Trade idea can be  buy near 53.50 target would be 55.50-56
once we near 56 a short can be taken for a target of 53 again suggesting a lot of sideways move
coming forward.

Once we go below 53 or go above 56 we can rework the wave count.Lets see the USDINR move in coming days.