Tuesday, June 7, 2011

07-June-2011

Elliott Wave: Nifty Cash 5532 Forecasting

Large trend Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is likely to be completed (?). Wave’ b is retraces upside to 99.5% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. To conclude, major wave’ b to be complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

If assume the top of major wave’ b at 6181 then wave’ c downside should be 38.2 %( @ 4722) of wave ‘a to confirm wave ‘b to be over otherwise wave’ x will form.

Medium trend Unfold:

Inside major wave ‘c downside, impulsion wave likely to be started.
Inside wave’ c, 3rd wave downside is started.
# Perspective will change above 6181 level #
Alternate Labels are in RED.

Small Internal Patterns:

Market is sideway inside small wave’4.After consolidations, small wave’5 downside will be started.
# Perspective will change above 5735 levels #


Quick Elliott Wave Views: Short term to Long term

As major wave’ c likely be started and to conclude major wave’ b is to be complete, wave’ c Must have retrace downside 38.2% of major wave’ a, i.e. @ 4722.If market not break the 4722 level then wave’ X will form. (Wave ‘b will call to be On).
In small wave 4, market is moving subdued. More consolidation concludes for 5th wave downside will be extended and sharp.



Major Conclusions:

As alerted on 6th Dec 2010,( See Last Update
) that Investors and traders should caution while trading long side. Trade in less quantity and avoid big positional portfolio.”
As concluded, wave ‘c is likely started downside sharply and it should have minimum target to 38.2% of major wave’ a. @ 4722 and can more drops to @ 4300…..As per Elliott wave study.
Till date 6/6/2011, the conclusions for 4722 is still ON. But time frame will be change, @ Dec 2011 to Feb 2012.

Conclusions: Level 4722 to 4300 will be break, nearly @ Dec 2011 to Feb 2012 of timeframe.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

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