Elliott Wave: Nifty Cash
Major Conclusions: # No change since last updates 06th June 2011 #
As alerted on 6th 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 2nd, with minor wave c failure with 5th wave failure.
At Present, Nifty moves in primary wave c downside in intermediate wave 3rd (should be more then 1003 points) in minor wave 1st ….
# Perspective will change above 6181 level #
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