Monday, November 21, 2011

21-Nov-2011

Elliott Wave: Nifty Cash

Major Conclusion: # No change since last updates 29/08/2011#

Conclusion come out from Strength of sharp fall out that Nifty will drops more to @ 4300 – 4050 by Dec 2011 - Feb 2012…..As per Elliott wave study.

Sharp fallout from 5318, more confirming the journey of Nifty toward 4300 – 4100 by Dec 2011- Feb 2012……

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

Nifty Cash Unfolding:

Large trend Unfold:
Major corrective phase will form in Flat patterns. Corrective major primary Wave 'b Upside is completed. Wave’ b is retraces upside to 95.5% of primary wave ‘a. Primary wave’ a was in complex pattern and wave’ b also in complex patterns. Major primary wave’ b was completed, as the minimum correction of primary wave ‘c retraced 38.2% of Wave’ a achieved, from the top of wave’ b on 26/8/2011. Conclusion is that primary wave' c will be the failure one and will not retrace the entire wave' b.

From the top of primary wave’ b at 6181, primary wave’ c downside touched 38.2 %( @ 4722) of wave’ a and confirm that primary wave ‘b was completed at 6181, which is minimum criteria for intermediate wave ‘b call to be completed….The primary wave ‘c can drops to 50% 4365 and 61.8% 3940…but will not retrace the entire wave ‘b….

Primary wave ‘c has started downside with impulsion. Nifty completed the intermediate wave 2nd (5702), with minor wave c failure with 5th wave failure inside and intermediate wave 3rd is started downside……
At Present, Nifty moves inside primary wave’ c downside, in intermediate wave 3rd (should be more then 1003 point’s), in minor wave 3rd, in minute wave 1st.
# Perspective will change above 5702 level #

Medium trend Unfold:
Inside Primary wave ‘c downside, impulsion waves is started.
Inside Primary wave’ c, Intermediate Wave 3rd downside is started from 5702, with sharp fallout…and reaches at 4720 level on 26/8/2011….thereafter sideway market (consolidation) started…which is ended at 5318..another sharp fallout has started… Still, Intermediate Wave 3rd is ON…..
# Perspective will change above 5702 level #

Small Internal Patterns:
Inside minor wave 2nd sideway, another LS 5 is seen with 5th wave failure within minute wave’ c upside…..which is completed at 5318….Sharp fallout seen thereafter…..
Inside Minor wave 3rd, minute wave 1st is started downside and reached at low 4837 level. Minute wave 2nd will be resuming sideway…anytime
Minute wave 2nd sideway may correct up to 5000-5100 marks…..
# Perspective will change above 5318 level #

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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