Tuesday, January 17, 2012

Nifty headed for higher range 5100 - 5175.

Nifty Hourly Count Continuous Chart

I have also included 'hourly count' for nifty along with weekly and daily counts. And according to the hourly count on Nifty we can spot two possibilities, please follow the link above for charts.

One of the possibilities is that of an irregular flat correction in wave [b] of wave Z of the TZZ. In that case Nifty should atleast test the high of wave (a) around 5100 levels. Then it should come down sharply in wave [c] of Z.

Second count suggests that we are forming a triangle in wave [4] of wave I down. Now the if this works out then we may see Nifty rallying above the 5100 levels towards the 4175 mark, all we want in this count is that wave (e) of [4] should not go above the levels of 5175, which is the low of wave [1], as per the rules of impulse waves in EWP. This formation will take some time to develop, but with the ending diagonal scenario not remaining feasible, the next best count is that of a triangle n wave [4].


  1. dear anirudda, in your count 1 whr you labelled (iv) in nifty future chart it overlaps wave (i). pls check it out.

    1. I cant see any overlap which time fame chart are u talking abt!

  2. actualy i am using GCI free trading a/c in that it overlaps
    one more chart in FOREXPROS.com, here you will find live SGX nifty chart here also overlap occured. i will send u mail of forexpros

  3. Replies
    1. Checked it, well I trust only spot pattens for Nifty data. So I guess this has not happened on Nifty on my charts.

  4. yes you are right so we should buy nifty with sl of 4917 ??? it is wave i top of extended 5th wave


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