Thursday, January 12, 2012

IFCI one more low needed!

IFCI is tanking for a long time now. But upon counting the waves since latest significant top we can see that IFCI has actually completed only 4 wave of the down move, to complete this down move we need another low in IFCI, and hopefully if Nifty falls from here we will get the same. A couple of possibilities are shown on chart.

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