Saturday, November 03, 2012

Weekly Review - 05.11.2012

Dear All,

Many Question from my beloved friends, readers of the Blog,

1) will Nifty go Up from here or down. ?

2) Where will be Nifty during Diwali Session or New Year. ?

3) Should I stay Invested in Marker or Sell and Liquidate all my Holdings.?

4) Shall I invest more. Which Sector or Stock Should I Buy Now.?

For all these Query - Answer remains on Nifty Chart. So lets see What Nifty says !!!


>Click the Chart to see on full screen<

Above Nift Daily shows that a Complete Picture of A - B - C Pattern.

From Nov, 2010 - 6338.5 to Dec, 2011 - 4531.15 - Wave A - Impulse Wave

From Dec, 2011 - 4531.15 to till date (recent high 5815) - Wave B - Corrective Wave.

So Possible Target for Wave B - May be 5950 which shall be exactly 78.6% of Wave A.

So lets assume that recent low 5583 - Wave 4 might have ended as shown on chart.


>Click the Chart to see on full screen<

Nifty if able to cross and trade above 5725 - I assume that the wave 4 ended and upmove to continue.

Unlike in daily chart, I have an alternative scenario in Hourly chart - Low 5583 is considered as (A) and the current upmove considered as (B) and there is a possibility to fall for wave (C).

What I mean here is - Wave 4 is still not yet completed.

As I wrote last week - Possible downside for Wave C can be 5540 or 5490.

All the above alternative views get negative if able to cross and trade above 5725.


>Click the Performance Image to see on full screen<