Monday, August 06, 2012

Good Start

Dear All,

Today Nifty Started the Week with a Gap up. After a Massive run up of world market last friday, Nifty reacted positively today. Problems are always there and keep continuing - Only Optimistic words from Mario Draghi or Angela Morkel or even our FM Chidhambaram in India running the Market to High every day.

>>>Click the Chart to see it on Full Screen<<<

Is there any thing changed fundamentally - the answer is NO. Fiscal Deficit / Inflation / Drought or even Prices or Petrol keeps on Increasing day by day. No concrete action from Govt., Only words, words, words - there is no differences between these leaders.

But Trade is different form all these Blaw Blaw Blaw...

As per chart today - Nifty is riding for a sub wave C.

So as per theory if A = C then A = 214 Points & C should Rally for 214 Point from 5164 which means we have a Target of 5378. Today almost completed 61.8% retrace of sub wave A means Nifty still have another 100 Point rally pending from today's close of 5274. So lets wait to see some more Green. Cheers