Thursday, March 07, 2013

HS Vs IHS

Dear All,

> Click the chart to see on full screen <

Nifty as I wrote Yetserday Crossed the Key Resistance Channel 5830 and able to touch 5877.9. Now 5879 seems to be the Neck Line as shown on chart. Also a Possible IHS formation shows if breaks above 5879 shall given another 200 Points Rally on card.

Alernative Move :-
> Click the chart to see on full screen <

Please don't confuse with this alternative count,as EW gives lot of assumptions as per wave move. As per the current upmove, i have assumed that as 1-5 and may take as wave (a). So a possible downside for wave b only if nifty failed to cross 5879 tomorrow.

In such a case Nifty can retrace till 5795-5800 or 5700-5710 as shown on chart.

Interesting day tomorrow, Friday's can give miracles also. Lets see..