Wednesday, May 8, 2013

Nifty - Elliott Wave Update

  1. I am trying to count either a triple three or an ending diagonal on Nifty, marked with appropriate labels on the chart.
  2. The target for this possibly last leg of this pattern should be the last high around 6338.50.
  3. And as regards the pattern which this last wave may take, it should mock the wave [a].
  4. So though I am expecting a short term pause before we strike 6340 odd levels, I would not dare the price, its better to follow it until there are clear signs of trend stalling or reversing.

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