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#1
9th June 2008, 05:20 AM
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Elliot wave count for nifty
Are we heading up or are we heading down like the dow on friday? We might be in the making of a flat corrective B wave...if thts the case, then we should head up...only time will tell
Last edited by Jai.Shewaramani; 9th June 2008 at 05:43 AM. 
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#2
9th June 2008, 07:40 PM
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Re: Elliot wave count for nifty
Todays fall does change the setup, but it doesnt affect the EW count. The correction seems to be a descending triangle, with todays low we seem to have almost completed the throwover. If such is the case, the downside here on should be very limited or almost equivalent to none. The only hitch being that this triangle doesnt seem to be present on the Sensex chart. ......
(chart EW nifty) I have an open mind to another EW count that suggests tht we are in wave C. However different from the 1st EW count, this setup does seem to coincide perfectly with identical counts on the sensex chart. If such is the case, then we might see some more downside till this wave is over. (chart EW nifty 2) OK moving on to setup no. 3. This again coincides with the sensex chart. It suggests tht we are in irregular wave B which seems to have completed subwave 2. If such is the case, then we should see a upmove to to possible 5200/5500 before we go down again for wave C. (chart EW nifty 3) Personally, I think we are either in setup no 1 or setup no 3. Regards, Jai Shewaramani
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#3
9th June 2008, 09:16 PM
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Re: Elliot wave count for nifty
there is a clear cut descending traingle ,,, and slowly with up zig zag motions we can count to 3500 nifty....if this pattern holds then no doubt///
renu
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