Saturday, May 05, 2012

Nifty - Elliott Wave Analysis

We went through 5135, like a hot knife through butter. That is not good news, next support zone comes around 5030 - 4985. If this wave II is an [a] - [b] - [c], then we are currently in wave (3) of [c]. and if we are forming a [w] - [x] - [y] in wave II, then this wave (c) of [y], should find support around 5030 - 4985 band. Even if we do take support at this zone, but the bounce is not sharp and in 5 waves, we can be sure that we are going to test the 4950 - 4920 zone. So early birds just have to sit through this, and keep part booking at important levels. Remember we are approaching the end of wave II, at least by our preferred count. We can just wait and watch.


  1. great work,

    your articles are really great and useful, can you please throw us some light on INR USD elliott wave analysis.


  2. Will do a post on USD INR today. Actually I also have not looked at it in a while.


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