09 -Aug-2011

Elliott Wave: Nifty Cash

Major Conclusions: # No change since last updates 06^th June 2011 #

As alerted on 6^th Dec 2010,( See Last Update) that “Investors and traders should caution while trading long side. Trade in less quantity and avoid big positional portfolio.”
As concluded, wave ‘c is likely started downside sharply and it should have minimum target to 38.2% of major wave’ a. @ 4722 and can more drops to @ 4300…..As per Elliott wave study.
Till date 6/6/2011, the conclusions for 4722 is still ON. But time frame will be change, @ Dec 2011 to Feb 2012.

Conclusions: Level 4722 to 4300 will be break, nearly @ Dec 2011 to Feb 2012 of timeframe.

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

One More Conclusions:

One more Major conclusions is that GOLD and SILVER will be top out between month of August 15 2011 to Oct 15 2011...and go down for major correction about 1-2 years. Price will be correct up to 35 - 40% from the top...!!!!

This Conclusion is made from Elliott Wave Theory...Gold & Silver is in final Upside moves....GOLD will be top out @ 1800$ (+/- 100)......

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


Nifty Cash Unfolding:

Large trend Unfold:

Major corrective phase will form in Flat patterns. Corrective major Wave 'b Upside is likely to be completed. Wave’ b is retraces upside to 99.5% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. To conclude, major wave’ b to be complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ b, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

If assume the top of major wave’ b at 6181 then wave’ c downside should be 38.2 %( @ 4722) of wave b to confirm wave ‘b to be over, otherwise wave’ x will form.

Primary wave c has started downside with impulsion. Nifty completed the intermediate wave 2^nd, with minor wave c failure with 5^th wave failure.
At Present, Nifty moves in primary wave c downside in intermediate wave 3^rd (should be more then 1003 points) in minor wave 1^st ….
# Perspective will change above 6181 level #

Medium trend Unfold:

Inside Primary wave ‘c downside, impulsion likely to be started.
Inside Primary wave’ c, intermediate wave 2^nd wave sideway (Flat correction with minor wave c failure) is completed. (Highly consolidated)
Intermediate Wave 3^rd is started with sharp fallout…
Some modification is done in labels. But conclusions will be same as previous.
# Perspective will change above 6181 level #

Small Internal Patterns:

LS 5 of minor wave c of upside is completed with 5^th wave failure. Entire LS 5 was retraced within 30% timeframe...has confirm completions of intermediate wave 2^nd.
Minor wave 1^st is started in intermediate wave 3^rd.

Quick Elliott Wave Views: Long term to Short term

Market has started journey toward 4700-4300. As alerted on 6^th Dec 2010,
Nifty may hit 4300..level within Feb 2012.

Global markets also started sharp fallout due to concerns of double dip recession in USA.
Dow Jones also likely to hit level of @ 9000 mark by Feb - May 2012….

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.