17 June 2012


Hi Friends,

There is lot of Curiosity & Confusion about the Greece Election & RBI Policy on Monday.
But with Help of Elliott Wave Principle nothing to worry about the future Direction of Market.
As per our Preferred Count Nifty has Completed its Wave 'a' & 'b' of major B and now it might have started its  upward move towards 5345-5365 in wave 'c'.

Still one must wait till break above 5165. The Correction in wave 'b' may or may not be over yet. I'm keeping the option of Flat correction in wave 'b' open. In that case maximum correction till 4965 can be expected. But this dip would be good buying opportunity for higher targets of 5345-5365. In case Nifty breaks above 5165 before any correction the possibility of Flat will be completely ruled out.

Currently we are looking towards the target of 5345-5365 but cannot rule out wave extension to 5435 also. As per our alternate Count we are looking for a target above previous top of 5630.

So lets wait & watch.

Thanks & Regards,

Harsh Dixit.

1 comment:

  1. Hi All,

    Today 21st June.

    I was looking it as a Trend Reversal Day.

    And the Correction seems over at Today's low.

    Now Tomorrow a Dip to 5124 will be a Buying Opportunity.

    Weekly closing abv 5124 will be a key for the next Up move..

    If this Rally Kicks up No 1 will be Able to Turn it Down Before July 6th.

    Don't be Shocked to see Move Beyond Previous High of 5630..

    Thanks & regards,

    Harsh Dixit.