Thursday, July 19, 2012

Break out works.

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Yesterday Count got Negated as surpassed above 5222.65. Upmove continues as Yesterday's break out form falling wedge.

Now I have marked the waves as a-b-c as I feel the ongoing wave as sw(b). As shown on chart tomorrow if there is a Break above 5259 can move up to 5280 & 5310 as its a retrace of 61.8 & 78.6% vice versa.

Else unable to move above 5259 means its a completion of sw(B) and may fall down - possibility of breaking down below 5169 for sw(c).

Lot of domestic news roaming around the corner like FDI Retail & GAAR - Continuous UP move of World market helping the Bulls to move Up.

Since tomorrow is week end and nearing the expiry for the current session - may witness some interesting twist. Cheers!!!