Wednesday 20 March 2013

Bearish Gartley Pattern


Nifty may forming Bearish Gartley Pattern on day chart.  Possibilities are as follows.


XA  = 6112  - 5664  =  448
B = 5665- 5971 =  306  (68.30% of XA)
C = 5971 - 5682 = 289 (94.44  of AB)
Projection Of D
1.38 of BC  =  6083 
1.618 of BC =  6118

Monday 18 March 2013


Today is event day.  On the day of event all moving averages are converging towards downside.  Shorts are safe below 5885.  Short term trend is down.  Trend is up above 5950 only. 

Sunday 17 March 2013

Elliott Wave Analysis for Nifty


This is one of the possibility that still up-move is pending.  Above 5971 we may test 6242 or 6442.    Invalidation of the count is below 5550.   


This is another Bearish Count.  A and B finished and we are in C wave may tgt 5522.  Invalidation of the count is above  5972   



C wave is subdividing.  a or 1st and b or 2nd done. and we are in 3rd or c wave. 


We are in the middle of the trend.  Either side breakout possible.  Aggressive longs can be above 5880 with sl of 5850 and aggressive short below 5870 with sl of 5900
Positional Shorts are safe below 5971 only.  Above that bull will rule.  Below 5800 bears will rule.