Hi friends,
ZEEL analysis as on 16-Feb-2009.
ZEEL is on 5th wave of Impuse wave which is the last wave, Next is corrective wave ABC and MAY come down to 100 levels in the near days.......
Before coming down 100, as per the elliot wave theory, as of today ZEEL is in 5th wave, the rule is 5th wave will cross 4th wave, 4th wave ended at Rs. 129, so the 5th wave should go above 129.
attached the charts and fib series for your ref........
all above analysis in on my openion...... decision in trading is yours........ i am currently trading in Maruti and have sell position taken at 620, as per the wave it should come to 570.........
DEAR ELLIOT WAVE EXPERTS, PLEASE FIND TIME TO READY MY ANALYSIS AND GIVE YOUR OPENING WHICH WILL HELP ME YOU AND MANY OF OUR FRIENDS..........
happy trading...........