Monday, June 04, 2012

Its again a Bear Attack

Hi Every Body,
First I apologize for Not Updating on Friday - due to my Personnel works.

Bears continuous to attack Our Indian market due to global Factors.

Spanish Prime Minister's Call for "Robust Banking Union"

France Finance Minister Said "aid for troubled European banks should come through the European Stability Mechanism rather than through governments"

The yield on the 10-year U.S. Treasury note increased four basis points to 1.49 percent.

above head lines tells us clearly that still the global Equity markets are still not out of Danger Yet.

Given above is the Daily Chart of NIFTY which shows that we are in the ABC correction - C(5) is going on.
Click on the Picture to Enlarge it and view clearly.

So for a Clearer Picture, see this 5 Mins enlarged Chart. As per this 2 alternative counts has been given. Yellow color i to v has completed at 127.2% @ 4770. Else Green Color shows extended 3rd sub wave has been completed at 4770, Resistance are at 4875 and 4895, cross above these level may invalidate green counts. Lets wait and see!!