NIFTY READY TO FLY SKY HIGH

Hi Friends,


After this Roller Coaster Ride for about 7 Trading Sessions as expected Nifty is again ready to Fly Sky High.


As per our earlier view Nifty completed its 1st leg of Rally at 5124. But later we shifted it towards 5145as that's the only best alternative available. And then Nifty started correcting the Gains in a Roller Coaster Ride as was posted here.


http://trend-o-nomics.blogspot.in/2012/06/nifty-roller-coaster-week-ahead.html


Currently we have 2 alternate Wave Counts.

NIFTY

1. Nifty might still be in its B leg of the Final C of TZZ the Complex Corrective which started in Nov 2010.
After the initial leg 'a' which terminated at 5145 Gaining almost 375 points over 8 Trading Sessions, Nifty started Correcting the Gains in a triangle in 'b' leg which might have been over at 5094. And now it might have started moving upwards in its 'c' leg towards 5365-5435.

NIFTY

2. Nifty might have completed its Complex Correction in Wave A at 5431 & now heading up in its B leg towards 5738-5842. 'a=c' gives minimum target of 5738. But we might keep the options open for 'c' Extension or Failure as the Market Unfolds its legs.


Both the above said views are subject to holding of Friday's Low of 5094 & most importantly 5040. And if this Rally Kick Starts from Monday breaking 5184, no one will be able to Turn Nifty Down before 6th July.




So lets Wait & Watch..


Thanks & Regards,


Harsh Dixit

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.

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.