Thursday, March 22, 2012

Nifty - Elliott Wave Analysis.

Hourly EW Chart
Nifty tanked and how! Yesterdays rally created doubt in my mind, but with small adjustments we can resume with our original count. With 100% target of wave (1) - (3) for wave (5) we get a target around 5120. And by equality guideline for wave [c] = [a], we get the target levels around 5040. If we become very bearish, and start going below 5000 levels, we might be in for some very deep corrections.


  1. In the wake of the fact that INR/USD has recently broken below the previous low of 50.75, would you like to present updated views / wave count for INR/USD?

    1. Will do a detailed post soon. Ofcourse the corrective move has not ended, but we will have to see markets resisting at key levels for down move to continue. 52.086 should be the one for starters.


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