Thursday, June 28, 2012

Nifty - Elliott Wave Analysis

Nifty has not done anything yet to dislodge our count, but we cannot bank on it. USDINR has more room on the upside, which may translate into a fall on Nifty. I reiterate once again that 4900 is the decider, till then we can expect the up move to resume any time. The patterns on momentum indicators mentioned in last post are still valid. Attaching the daily chart below.

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