30th Sept 2010 Daily

Elliott Wave: Nifty Cash 5991 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5991

Yesterday, sell off pressure seen in the Nifty at higher level. Nifty touched 6071 and drops to 5979 marks. Nifty closed at 5991 with negative 38 points. Mechanically, Nifty, yet break the level 5985, so it triggered a –Ve signal. But, Nifty not closed below 5985 level. Now, Nifty will be positive above 6060 level and close above.

Global cue is in strong negative nodes. Nifty will likely to open lower. So, buyer, buy the Nifty only above 6060. Short seller, who shorted Nifty below 5985, can hold with initial SL 6060.

Resistance: 6040 / 6070 / 6145 / 6180.

Support: 5960 / 5910 / 5885.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

29th Sept 2010 Daily

Elliott Wave: Nifty Cash 6030 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6030

Yesterday, both side volatiles seen in the Nifty. Nifty drops to 5991 marks and recovered close at 6030 with negative 6 points. Mechanically, Nifty, yet not break the level 5960, so still in a +ve bias. Now, Nifty will be negative below rising trigger 5985 level and close below.

Global cue is in strong positive nodes. Nifty will likely to open higher. So, buyer, hold Nifty with rising SL 5985. Short seller can short Nifty if it falls below 5985 level marks with initial SL high of the today.

Resistance: 6060 / 6095 / 6135 / 6180.

Support: 6015 / 5985 / 5925.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

28th Sept 2010 Daily

Elliott Wave: Nifty Cash 6036 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6036

Yesterday, sell off pressure seen at higher level of Nifty. Nifty gained 6074 marks and close at 6036 with positive 17 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5960 level and close below.

Global cue is in sideway to positive nodes. Nifty will likely to open flattery. So, buyer, hold Nifty with same yesterday rising SL 5960. Yesterday low will be crucial one. If it breaks then first sigh of weakness and secondly it should break 5960 and close below. Short seller can short Nifty if it falls below 5960 level marks with initial SL high of the today.

Resistance: 6065 / 6095 / 6135.

Support: 6005 / 5970 / 5905.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

27th Sept 2010 Daily

Elliott Wave: Nifty Cash 6018 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6018

Last Friday, strong buying was in Nifty. Nifty gained 6029 marks and close at 6018 with positive 59 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5960 level and close below.

Global cue is in strong positive nodes. Nifty will likely to open higher. So, buyer, hold Nifty with rising SL 5960. Major Indicators are in overbought zone. So be careful while trading and trades with lesser quantities. Short seller can short Nifty if it falls below 5960 level marks with initial SL high of the today.

Resistance: 6055/ 6085 / 6105 / 6135 / 6160.

Support: 5980 / 5930 / 5875.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

24th Sept 2010 Daily

Elliott Wave: Nifty Cash 5959 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a. If we assume the top of wave ‘b is 6037 then wave ‘c must have @ 5805(38.2%) of wave ‘a, can be drops to 5660(61.8%)-5545(81%).

Quick Mechanical Outlooks: Nifty Cash 5959

Yesterday, sell off pressure increased in the market, Nifty dropped 5932 marks and close at 5959 with negative 31 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is down. Nifty will likely to open down to sideway. Yesterday, 5946 level was broken, but not broken 5920 trigger point. So, buyer, hold Nifty with rising SL 5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 5990 / 6030 / 6075.

Support: 5920 / 5890 / 5845 / 5770.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

23rd Sept 2010 Daily

Elliott Wave: Nifty Cash 5991 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5991

Yesterday, sell off pressure seen in the market, Nifty has touched 6037 marks upside and close at 5991 with negative 18 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is in sideway to up. So Nifty likely to open sideway. Yesterday’s low 5946 will be crucial for long side. If it breaks then first sign of reversal and secondly it should break 5920 trigger point and close below. So, buyer, hold Nifty with rising SL5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 6035 / 6090 / 6125.

Support: 5945 / 5920 / 5845 / 5770.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

22nd Sept 2010 Daily

Elliott Wave: Nifty Cash 6009 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.4% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 203.2% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6009

Yesterday, Nifty has crossed 6000 marks upside and gained 29 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is in positive, so Nifty likely to open higher. Buyer, hold Nifty with rising SL5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 6045 / 6070 / 6115.

Support: 6000 / 5955 / 5920.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

21st Sept 2010 Daily

Elliott Wave: Nifty Cash 5980 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 90.4% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 196.4% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5980

Yesterday, Nifty has strongly moved upside and gained 96 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5895 level and close below.

Global cue is in sideway to up, so Nifty likely to open higher. Buyer, hold Nifty with rising SL 5895. Short seller can short Nifty if it falls below 5895 level marks with initial SL high of the today.

Resistance: 6030 / 6065 / 6135.

Support: 5930 / 5885 / 5865.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

20Th Sept 2010 Daily

Elliott Wave: Nifty Cash 5885 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 88.02% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 182.1% of wave’ a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a. If we assume the top of small wave’ b at 5902, then wave ‘c should be at 5675 min and can be down to 5530 and 5290.

Quick Mechanical Outlooks: Nifty Cash 5885

Last Friday, Nifty has gained 56 points and moved up side to 5898 and closed at 5885 levels. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5810 level and close below.

Global cue is in sideway, so Nifty likely to open sideway. Buyer, hold Nifty with SL 5810. Short seller can short Nifty if it falls below 5810 level marks with initial SL high of the today.

Resistance: 5920 / 5965 / 5980.

Support: 5865 / 5820 / 5780.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

17Th Sept 2010 Daily

Elliott Wave: Nifty Cash 5829 Forecasting:

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 88.02% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 182.1% of wave’ a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a. If we assume the top of small wave’ b at 5902, then wave ‘c should be at 5675 min and can be down to 5530 and 5290.

Quick Mechanical Outlooks: Nifty Cash 5829

After 9 days rally, Nifty has halted and gives a negative close. Nifty moved up side to 5902 and closed at 5829 levels. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5785 level and close below.

Global cue is in positive, so Nifty likely to open higher. Buyer, hold Nifty with SL 5785. Short seller can short only below 5785 level with SL of today high.

Resistance: 5875 / 5920 / 5960.

Support: 5815 / 5785 / 5730 / 5680.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

16Th Sept 2010 Daily

Elliott Wave: Nifty Cash 5860 Forecasting:

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 87.22% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2^nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 176.7% of wave’ a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term: # No change since last update #

Small Wave ‘b is still ON.

Quick Mechanical Outlooks: Nifty Cash 5860

Yesterday, Nifty strongly moving up side to 5869 and closed at 5860 levels. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5735 level and close below.

Global cue is in sideway to negative, so Nifty likely to open lower. Today, sell off pressure may come to markets. Yesterday low will be the crucial one, if it break then be careful about long side. Buyer, hold Nifty with SL 5760. Short seller can short only below 5740 level.

Resistance: 5885 / 5910 / 5975.

Support: 5825 / 5775 / 5740 / 5700.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30^th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!