Nifty Daily Analysis (15 Min Nifty spot Chart): CMP Nifty Spot – 5232.70

Nifty Daily Analysis (15 Min Nifty spot Chart): CMP Nifty Spot – 5232.70

·        As I mentioned in the 13 April Analysis, Nifty is in the C wave. C wave will 5 wave internal structures.

·        So, In the C wave have made the 1 wave target @5183.65 and complete day spend in making the 2 wave correction in the upper side. And I suspect this will be the end of 2 wave.

·        Why 2 wave completed – as 1) We have did the abc Flat correction. 2) 2 Wave retrace 38% of 1 wave. 3) Flat correction is in the proper channel and currently Price is  reached the resistance of the channel.

·        If tomorrow market opens and cross the resistance of 5235 then wave 2 will have different target. But I feel chances are less as the above reason.

·         Tomorrow is the Tuesday – a Big day usually heavy movement and it is important day as Monetary policy announcement.  So it is expecting the down rally if market open below 5160 as we will going to complete the 3 wave tomorrow.

·        Let us see tomorrow and watch. Happy learning!!!

Nifty Analysis -13 April 2012

1 Hour Nifty Chart – CMP Nifty Spot  – 5198.50

·        As predicted in the last communication, Nifty open Gap down in the next day but moving in the upper trend, which confirms that B wave have different target.

·        Accordingly wave b completed today (which is exactly 61% of wave a)

·        Currently Wave c is ON and have lower target between 5140 -5110. This will comlete the Wave E in the leading Diagonal. Also Wave (4) expected the same target.

·        And Wave (5) will begin from that. Let’s see how the Nifty will move in the next week.

Nifty Analysis for 10 April 2012

Nifty Spot Movement - 1 min Chart on 10^th April 2012: -

·

·   As mentioned in the last post, we may see the zigzag or Triangle today. There is triangle seen today in the blue line as per the diagram.

·        That way we have completed the b wave today. Tomorrow if nifty open up gap up then we will see b wave have upper target which I feel the rare possibility.

·        If nifty Open gap down which could be the major possibility tomorrow, then We will Nifty will down will try to make c wave.

·        This c wave will have 5 internal structures which might take next 2-3 days to complete. Target will be 5130-5120.

·        So, Lets watch for nifty level for next 2-3 days.

·        Happy Learning. Cheers!!!

   

Nifty Analysis 9 April 2012

Nifty Spot Movement - 1 min Chart on 9^th April 2012 but in Broader View: -

·        The above chart shows trend line in various colors but I would like to show that how the prices are taking the support and Resistance and acting as short term price or trend reversal.

·        These are actually Channels and Triangles. Nifty spot prices are moving inside the triangle shown in the RED color which I am looking at Ending diagonal pattern as per EW theory. Currently Nifty is in the E wave in the ABCDE pattern.

·        Ending Diagonal Pattern – All waves has internal 3 wave structure i.e abc

·        Ending Diagonal can be seen after the major moves (Specifically after 3 waves). Ending Diagonal usually seen in the 4 or 5 Wave of the Impulse 5 wave pattern. But it is not necessary as book say it can be observed in the B wave of the corrective 3 wave pattern.  

·        So where we are now and where Nifty will go tomorrow or in the rest of the week.

** As per the chart we are in the E wave which again expecting 3 wave corrective (abc) pattern.

** Today We have completed the a wave. Why a wave completed?

     As we retrace 61% of D Wave.

     As we completed 5 wave internal structure of a. Also, another possibility came up that since a is the 5 internal structure then we will should see the zigzag or triangle pattern.

    Now since we have completed a, it should correct to upward and has to made b which I am assuming 5380/5300/5320.

    Then, price should reverse from wave b and has to make C in the down word direction. C and E target has to be same approximately 5130/5110.

·        Let’s watch tomorrow’s movement. Happy Learning!!!

Profit of 26 Points in our last Short Call. Cheers!!!

Book Profit as per our last Call @ CMP nifty 5349 -

Book Profit as per our last call @ CMP nifty 5349.

3 Apr 2012 Nifty Short Positional Call:-

CMP Nifty Fut - 5386, Stop Loss - 5420 Target 1st - 5310/ 2nd - 5250 / 3rd 5160.