Thursday, July 5, 2012

Nifty Elliott Wave analysis for 05-07-2012


Nifty seems to have completed ‘iv’ th wave with a truncated ‘c’ wave of a flat correction. Note here that wave ‘ii’ was a simple zigzag. So it seems like it has followed the alternation guideline here.
With respect to the wave count and target we will continue our previous counts as detailed yesterday. It appear like we have commenced the wave fifth ‘v’ . We need to closely monitor this for subdivision and possibility of extension.

Nifty Elliott Wave analysis for hourly chart:




Nifty Pivot table:
 

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