17 June 2012

NIFTY WEEKEND ANALYSIS

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.
NIFTY
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.