Wednesday, June 06, 2012

The Bulls are Back!!!

Finally Bulls are Back with Vengeance.. Hoping that ECB will ease Monetary Policy & Rate Cut by Reserve Bank of India later this month.

As wrote Yesterday Nifty broken 4895 and jumped with strength. As per previous EW counts it seems Nifty has successfully completed Wave C and triggered a 3rd Wave up move (like 1-5 move pattern). Today Wave 3(1)(iii) is underway, as marked on chart (iii) sub wave have almost retraced 127.2% which is 5010.25. A cross above 5011.25 may take nifty upto 5055 which is 161.8% retrace.