11 June 2012

NIFTY - ROLLER COASTER WEEK AHEAD

Hi Friends,


After this super 300+ points move in just 1 Trading Week, Nifty is likely to take its participants for a Roller Coaster Ride In this Coming Week. 
NIFTY
As per our preferred Wave Count, Current up-move may get arrested at 5124-5136 and Nifty may start Retracing the Gains of this Rally. Once this Clear Impulse move in 'a' leg gets over 'b' leg is most likely to take its participants for a Roller Coaster Ride In this Coming Week.


So its better to be a spectator to this Tennis Match between Bulls and Bears within the Range of 4945-5135 (+/- 30 points). The Range may expand as 'b' leg is most likely to take the shape of Expanding Triangle.


So the key for next week is to remain on sidelines and wait for clear Trending Signal. Once this Tennis Match gets over Nifty would Resume its Upward Journey towards 5350-5400 in 'c' leg. Those who missed this Rally can Buy on Dip to 4945.




So lets Wait & Watch




Thanks & Regards,


Harsh Dixit.
Posted by on

2 comments:

  1. TRENDONOMICS BY HARSH DIIXIT13 June 2012 at 11:32

    Nifty is at Inflection Point.

    Currently I'm Bearish for 4989..

    But Abv 5135 I would join Bulls.

    Closing abv 5135 Nifty will Head to 5345.

    Dip to 4989 is Buy with stop of 4890.. For Ride to 5345..

    Hang on below 4890 I will Bet for 4625.

    Ride the Train Wherever it Goes..

    Lets Wait & Watch.

    Thanks & Regards,

    Harsh Dixit

    ReplyDelete
  2. TRENDONOMICS BY HARSH DIIXIT14 June 2012 at 11:53

    I was expecting 2 Possibilities either a Flat Correction or Expanding Triangle.

    The Possibility of Flat has now been Ruled out a New 5 wave Advance can be seen.

    The Correction seems to be over at 5015..

    As on Intra-Day New 5 wave Impulse Developed yesterday.

    That Could be wave 1 of C

    And now Nifty retracing in wave 2 down.

    Max Downside to 5095-5060 Expected.

    After that Nifty would start Inching Upwards in wave 3 of C .

    Final Target for C now revised to 5365

    A=C

    This View will Work until Nifty is above 5015.

    Below that I would look for some other scenario.

    Thanks & Regards,

    Harsh Dixit.

    ReplyDelete

Subscribe to: Post Comments (Atom)