Hi Friends,
In our last post we wrote about the target of 5686-5738 in 'c' leg of Wave 3 of the Ending Diagonal on Nifty. Nifty touched 5720 & with this 10% Rally of Sept. is almost done.
http://trend-o-nomics.blogspot.in/2012/09/nifty-ready-to-zoom.html
So now we suggest everyone to Book Longs on Nifty. As expected Auto, Banks & Metal stocks outperformed in this Rally & Pharma & FMCG Stocks under-performed. All thanks to wisdom of the great R.N. Elliott who discovered the amazing theory of Wave Principle.
On a Daily chart we can clearly see the 5 wave move complete from 5215-5720. We can also see a clear RSI Negative Divergence within 3rd and 5th wave on Hourly chart. Further, on Hourly chart we can see that (v)th of the 5th wave is still missing. So we expect the move towards 5738-5756 in (v)th of the 5th wave on Monday 24th Sept. Once Nifty completes this missing (v)th wave, it will grind lower to 5434 in its 4th wave of the Ending Diagonal in next 10-12 trading sessions.
So lets wait & watch..
Thanks & Regards,
Harsh Dixit.
 |
| NIFTY-DAILY |
In our last post we wrote about the target of 5686-5738 in 'c' leg of Wave 3 of the Ending Diagonal on Nifty. Nifty touched 5720 & with this 10% Rally of Sept. is almost done.
http://trend-o-nomics.blogspot.in/2012/09/nifty-ready-to-zoom.html
So now we suggest everyone to Book Longs on Nifty. As expected Auto, Banks & Metal stocks outperformed in this Rally & Pharma & FMCG Stocks under-performed. All thanks to wisdom of the great R.N. Elliott who discovered the amazing theory of Wave Principle.
20120922223501.png) |
| NIFTY-HOURLY |
On a Daily chart we can clearly see the 5 wave move complete from 5215-5720. We can also see a clear RSI Negative Divergence within 3rd and 5th wave on Hourly chart. Further, on Hourly chart we can see that (v)th of the 5th wave is still missing. So we expect the move towards 5738-5756 in (v)th of the 5th wave on Monday 24th Sept. Once Nifty completes this missing (v)th wave, it will grind lower to 5434 in its 4th wave of the Ending Diagonal in next 10-12 trading sessions.
So lets wait & watch..
Thanks & Regards,
Harsh Dixit.
Hi,
ReplyDeleteLooks like (v)th of 5th still missing. Its just (iv)th wave running as complex correction.. Bears are badly trapped..
Thanks & Regards,
Harsh Dixit.
It seems this is Extended 3rd Wave on Nifty???? Are there any Bears left?? :)
ReplyDeletePpl are asking me whether to go short... Poor Bears. Seems like Nifty will kick them till 6040 in this extended 3rd Wave..