NIFTY PROJECTION MADE EARLIOR

nifty trader

Nifty downtrend will continue in September

The downtrend will continue in the month of September also as NIFTY is forming a contracting triangle. The target for this downtrend is 4916 in downside. After it touch the level of 4916 it will start moving upward till 5200 up to 5280 in the upside in the months of September and November. This time the chances are nifty will not touch the upside trendline. Most likely it will start falling from 5200 - 5280 to downward again in November and December.

Will Nifty continue uptrend? YES

nifty trader

okram please see the chart

nifty trader

nifty bounce backed today

nifty trader

nifty bounce back and can continue to up

Chances of nifty to pull back up to 5000 to 4950

Compare the chart of May 4th with May 11th

now there is again a triangle, nifty will bounce back in coming days.

nifty wave c is probably completed

grave stone doji and hanging man

CUP WITH HANDLE AND AVALANCHE

A triangle is predicted in nifty

nifty will take support from 5190 - 5200

nifty monthly

2011 fall of nifty

Reason for 2008 market crash

Complex zig zag and flat correction

nifty future projection (Indian market)

Modification of wave count from zig zag to triangle.

Strong upmove of nifty has started.

Elliot wave 3 in nifty

A long upmove is coming in NIFTY

A long upmoved is seen coming in NIFTY according to Elliot waves.

nifty very strong in upward direction

Nifty broke out the ending diagonal triangle or the bullish diagonal triangle. Now the hourly RSI is at 70 mark, this can go up to 80 mark. The RSI took support at the support zone at 40 mark, it didn't broke the 30 mark which is a very bullish sign.

Nifty bounce back to upward

Nifty bounce back to upward after it has corrected. The abcde correction which is called a diagonal triangle or bullish diagonal triangle or ending diagonal triangle. It is comprised of five small wave which are named abcde. All the subwaves of abcde are made up of three waves, not five waves. If any of the small abcde waves are made up of five waves then it is not diagonal triangle. The bounce back is very sharped and has a very dramatic reversal to upwards.

NOTE: In the daily chart of yesterday the 29th March 2012, there is a bullish counter attack candle where it took support from the 200 day moving average of 5140 in nifty. The small resistance is at 50 day moving average of 5318 in nifty.

In the weekly chart there is a hammer candlestick which is also a very bullish sign.

The daily stochastic is showing BUY signal where it just pop up from the oversold condition.

Nifty in last wave 5th OF ABC correction.

Nifty in downward mode 2

NIFTY 5378 target achieved and fall freely 136 points today. It has more room to fall again.

Nifty in downward mode

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Upgraded chart from yesterday.

GOLDEN CROSS

GOLDEN CROSS FOR NIFTY, inverted hammer at the 200 dma means it is a bullish sign and the candle next to the inverted hammer has a long lower shadow, just touching the 200 dma and comes back or pulls back upward and closed near the open. The lower shadow testing the support of 200 DMA. If this support of 200 DMA  is holding for 3 days and nifty goes upward this is the sign of starting of WAVE 3.

Elliot Wave 3 is now coming to INDIAN MARKET

After the nifty has break out from the downward descending trendline and the price is now correcting or consolidating towards the downward trendline, according to my view the Elliot wave 1 is completed and now wave 2 is undergoing. If you see the other slide where the 50DMA is just crossing 200DMA, which is called a GOLDEN CROSS, a very bullish sign.