Nifty(4805.10): Did the counter trend rally end at 4866? Here is the wave count on the hourly chart. Nifty has failed to cross last week’s high of 4873. Unless, there is another three wave correction (see chart), we may have to be open to the prospect that the upward correction was too weak and ended […]
Nifty(4805.10): Did the counter trend rally end at 4866? Here is the wave count on the hourly chart. Nifty has failed to cross last week’s high of 4873. Unless, there is another three wave correction (see chart), we may have to be open to the prospect that the upward correction was too weak and ended […]
Nifty(4851): Finally, the long awaited relief rally kicked in and the markets are relieving the oversold levels. I do not think market should have any problem going above last weeks high of 4873 but if it doesn’t its bearish and the powerful wave down is still incomplete. The ideal levels for this relief rally to […]
Nifty(4851): Finally, the long awaited relief rally kicked in and the markets are relieving the oversold levels. I do not think market should have any problem going above last weeks high of 4873 but if it doesn’t its bearish and the powerful wave down is still incomplete. The ideal levels for this relief rally to […]
Nifty(4710): As promised the bigger picture on the Nifty Basically, the purple wave 3 shown on chart is still in progress and is likely to end around 4380 when the red wave 5 completes its move. This is my preferred road map for the Indian markets. As mentioned in my January 19th 2011 interview with CNBC, the […]
Nifty(4706.45): The move from 5325 has been one of the strongest ‘extended’ waves I’ve have seen in recent times. When a market extends so strongly, relief rally that follows such extensions tend to be quite weak. So given this technical backdrop, the odds of this market exceeding 5000 now looks quite low. The ideal level […]
Nifty(4812.35): Looking at pullback since 5325, they have been extremely short-lived and less than 90 points, pointing to a very strong supply. On the daily charts we have an “inside day” pattern, pointing to some indecision in the short term trend. Crossing the borders of the inside day resolves the indecision and often provides a […]
Nifty(4812.35): Looking at pullback since 5325, they have been extremely short-lived and less than 90 points, pointing to a very strong supply. On the daily charts we have an “inside day” pattern, pointing to some indecision in the short term trend. Crossing the borders of the inside day resolves the indecision and often provides a […]
Nifty(4778.35): Given the ferocity of the decline from 5325, let us re-visit the big picture of Nifty and see where we are in the larger trend. The speed of the decline is definitely of that of a third wave, which we have been marking as one on the daily updates. The possibility that we might […]
Nifty(4778.35): Given the ferocity of the decline from 5325, let us re-visit the big picture of Nifty and see where we are in the larger trend. The speed of the decline is definitely of that of a third wave, which we have been marking as one on the daily updates. The possibility that we might […]