Friday, March 02, 2012

Nifty - Elliott Wave Analysis.

Hourly EW
Nifty is at cross roads, many experts are on bull side and many are propounding the bear side. I feel both the possibilities are equiprobable, and we will get a clear verdict only when we break either of two levels at 5392.25 on the upside and 5297.75 on the lower side.
Corresponding wave counts are given on the chart. My preferred count one without "?" mark after them is bearish and is looking for a DZZ correction in Nifty to 5200 - 5100 band. But the alternate count suggests either we have completed the correction and are on our way to wave III or may be an Irregular / Flat / Triangle correction is developing and will take Nifty to 5420 - 5515 range on the upside. Both depend upon on which side we break the range.


  1. Aniruddha,
    Pls check for new update on nifty.
    Mr. Ramki is on same view as i mailed you earlier this is just a bear trap rally nothing else....

    1. I have read his views, but nothing is certain unless it is confirmed. Right now I can see the fall as corrective, but nothing can stop it from turning into an impulsive down move, as contemplated by Mr Ramki. I am a big fan of Ramki and keenly watch his analysis.


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